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Phoenix Group Holdings (PHNX.L)

PHNX.L on London Stock Exchange

634.80GBp
18 Jan 2019
Change (% chg)

13.20 (+2.12%)
Prev Close
621.60
Open
625.00
Day's High
642.60
Day's Low
622.50
Volume
2,572,265
Avg. Vol
1,301,836
52-wk High
740.51
52-wk Low
536.72

Latest Key Developments (Source: Significant Developments)

Phoenix Group Says Court Sanctions Proposals To Introduce New Holding Company
Wednesday, 5 Dec 2018 

Dec 5 (Reuters) - Phoenix Group Holdings ::COURT SANCTION OF SCHEME OF ARRANGEMENT.COURT MADE ORDER SANCTIONING SCHEME, CONFIRMING RELATED CANCELLATION OF ALL OF EXISTING OLD PHOENIX SHARES BY WAY OF A REDUCTION OF CAPITAL.REFERS TO PROPOSALS TO INTRODUCE NEW CO INCORPORATED IN ENGLAND & WALES, AS NEW HOLDING CO OF PHOENIX GROUP BY MEANS OF SCHEME OF ARRANGEMENT.  Full Article

Phoenix CEO Sees Opportunity In UK To Grow Through Acquisitions
Thursday, 29 Nov 2018 

Nov 29 (Reuters) - Phoenix Group Holdings ::PHOENIX CEO SAYS BELIEVES MORE TRADITIONAL INSURANCE COS WILL SPLIT, PROVIDING CO WITH OPPORTUNITY TO GROW THROUGH ACQUISITIONS, PARTICULARLY IN UK.  Full Article

Phoenix Group Says 2018 Cash Generation Target Exceeds Upper End Of Target
Thursday, 29 Nov 2018 

Nov 29 (Reuters) - Phoenix Group Holdings ::PHOENIX GROUP HOLDINGS - £664 MILLION OF CASH GENERATION IN 2018 (2017: £653 MILLION).PHOENIX - DELIVERED £1.3 BILLION CASH GENERATION IN 2017 AND 2018, EXCEEDING UPPER END OF CASH GENERATION TARGET OF £1.0 BILLION - £1.2 BILLION FOR THIS PERIOD.PHOENIX GROUP HOLDINGS - SOLVENCY II SURPLUS OF £3.1 BILLION AS AT 30 SEPTEMBER 2018 (£2.5 BILLION PRO-FORMA AS AT 31 DECEMBER 2017).PHOENIX GROUP HOLDINGS - TWO FURTHER BULK PURCHASE ANNUITY TRANSACTIONS COMPLETED DURING SECOND HALF.PHOENIX - DELIVERED £400 MILLION OF CAPITAL SYNERGIES ON STANDARD LIFE ASSURANCE LIMITED DEAL AGAINST A TOTAL £440 MILLION CAPITAL SYNERGY TARGET.  Full Article

Phoenix Group Introduces New Holding Company
Friday, 2 Nov 2018 

Nov 2 (Reuters) - Phoenix Group Holdings ::INTRODUCTION OF A NEW HOLDING COMPANY.PROPOSED SCHEME OF ARRANGEMENT RELATING TO CORPORATE RESTRUCTURING OF OLD PHOENIX.IF SCHEME IS IMPLEMENTED PHOENIX GROUP HOLDINGS PLC , A NEW CO INCORPORATED IN ENGLAND & WALES, WILL BECOME HOLDING CO OF OLD PHOENIX.IF APPROVED, SCHEME AND OLD PHOENIX REDUCTION OF CAPITAL ARE EXPECTED TO BECOME EFFECTIVE ON OR AROUND 12 DECEMBER.APPLICATIONS WILL BE MADE TO UK LISTING AUTHORITY FOR SHARES OF NEW PHOENIX TO BE ADMITTED TO TRADING ON MAIN MARKET FOR LSE.ALL OF DIRECTORS OF OLD PHOENIX HAVE BEEN APPOINTED TO BOARD OF NEW PHOENIX.  Full Article

Phoenix Group To Top Cash Generation Target for 2017, 2018
Thursday, 23 Aug 2018 

Aug 23 (Reuters) - Phoenix Group Holdings ::SAYS GROUP OPERATING PROFIT OF £216 MILLION IN H1 2018.SOLVENCY II SURPLUS OF £2.3 BILLION(3) AS AT 30 JUNE 2018 (£1.8 BILLION AS AT 31 DECEMBER 2017).SHAREHOLDER CAPITAL COVERAGE RATIO OF 180% AS AT 30 JUNE 2018(4) (164% AS AT 31 DECEMBER 2017).SAYS INTERIM DIVIDEND OF 22.6P PER SHARE, CONSISTENT WITH FINAL 2017 DIVIDEND REBASED FOR JULY RIGHTS ISSUE.PHOENIX TO INTRODUCE FEE CAPS ON UNITISED NON-WORKPLACE PENSIONS FOR A ONE OFF EXPECTED COST OF £68 MILLION.GROUP EXPECTS TO EXCEED UPPER END OF ITS CASH GENERATION TARGET OF £1.0 BILLION - £1.2 BILLION BETWEEN 2017 AND 2018.£349 MILLION OF CASH GENERATION(2) IN H1 2018 (H1 2017: £360 MILLION).AXA, ABBEY LIFE INTEGRATIONS COMPLETED AHEAD OF PLAN, TARGETS; DELIVERING COST SYNERGY BENEFITS OF £27 MILLION PER ANNUM.INCREASE 2018 FINAL DIVIDEND TO AN ANNUALISED LEVEL OF £338 MILLION.COMPLETED ITS FIRST BULK ANNUITY TRANSACTION WITH A £470 MILLION BOOK ACQUIRED IN FIRST HALF OF YEAR AND ALL LONGEVITY RISK WAS REINSURED.CO WILL NO LONGER DESCRIBE ITSELF A PURELY A 'CLOSED' BUSINESS, BUT AS CONSOLIDATOR OF OPEN AND HERITAGE LIFE BUSINESSES.CONTINGENCY PLANS CONTINUE TO BE PROGRESSED TO ENABLE EU POLICYHOLDERS TO BE SERVICED IN EVENT OF A 'HARD BREXIT'.EXPLORING RANGE OF OPTIONS TO ENSURE CO CAN SERVICE IRISH POLICYHOLDERS AS PART OF BREXIT CONTINGENCY PLANNING.  Full Article

Phoenix Group Holdings Issues Warrant Redemption Notice
Monday, 23 Jul 2018 

July 23 (Reuters) - Phoenix Group Holdings ::ON 2 SEPTEMBER 2009, PHOENIX ISSUED 5 MILLION WARRANTS OVER ITS SHARES TO CERTAIN OF ITS LENDERS.HAVING NOW AMENDED WARRANT INSTRUMENT TO PERMIT REDEMPTION AT RELEVANT PRICE, IT WILL REDEEM ALL OUTSTANDING WARRANTS ON 23 AUGUST 2018.  Full Article

Phoenix Group Holdings Announce Results Of Rights Issue
Tuesday, 10 Jul 2018 

July 10 (Reuters) - Phoenix Group Holdings ::RESULTS OF RIGHTS ISSUE.IT HAD RECEIVED VALID ACCEPTANCES IN RESPECT OF 176,693,407 NEW SHARES (REPRESENTING 96.25 PER CENT. OF NEW SHARES OFFERED.  Full Article

SLA shareholders vote for Phoenix insurance deal, share buybacks
Monday, 25 Jun 2018 

June 25 (Reuters) - Standard Life Aberdeen PLC ::STANDARD LIFE ABERDEEN SHAREHOLDERS VOTE IN FAVOUR OF SALE OF STANDARD LIFE ASSURANCE LIMITED TO PHOENIX GROUP HOLDINGS <<>>.99.26 PERCENT OF SHAREHOLDERS VOTE FOR SALE .MORE THAN 99 PCT OF SHAREHOLDERS ALSO VOTE FOR SHARE BUYBACKS TOTALLING UP TO 1.75 BLN STG.  Full Article

Phoenix Group names two new non-execs
Monday, 25 Jun 2018 

June 25 (Reuters) - Phoenix Group Holdings ::APPOINTMENT OF TWO NEW NON-EXECUTIVE DIRECTORS: BARRY O'DWYER AND CAMPBELL FLEMING, BOTH OF STANDARD LIFE ABERDEEN PLC ("STANDARD LIFE ABERDEEN")..  Full Article

Phoenix Group launches 950 mln pound rights issue for acquisition
Wednesday, 30 May 2018 

May 30 (Reuters) - Phoenix Group Holdings ::ANNOUNCES FULLY UNDERWRITTEN RIGHTS ISSUE, INTENDED TO RAISE GROSS PROCEEDS OF APPROX. £950 MILLION ($1.26 billion) TO BE USED TO FUND PART OF CASH CONSIDERATION FOR ACQUISITION OF STANDARD LIFE ASSURANCE.  Full Article

UK insurer Phoenix beats cash generation target for 2017, 2018

British life insurer Phoenix Group Holdings said on Thursday it beat its cash generation target for 2017 and 2018, as companies continue to offload their pension risks.