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Phoenix Group Holdings (PHNX.L)

PHNX.L on London Stock Exchange

604.50GBp
15 Nov 2018
Change (% chg)

-15.00 (-2.42%)
Prev Close
619.50
Open
614.00
Day's High
624.00
Day's Low
595.50
Volume
1,313,667
Avg. Vol
1,289,087
52-wk High
740.51
52-wk Low
575.85

Latest Key Developments (Source: Significant Developments)

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

Phoenix Group Says To Have RT1 Roadshow With Credit Investors
Friday, 13 Apr 2018 

April 13 (Reuters) - Phoenix Group Holdings ::ANNOUNCEMENT OF RT1 ROADSHOW WITH CREDIT INVESTORS AND UPDATE ON STANDARD LIFE ASSURANCE ACQUISITION.  Full Article

Phoenix Group says Prudential Regulation Authority approves Abbey Life deal
Tuesday, 13 Dec 2016 

Phoenix Group Holdings : Regulatory consent - Abbey Life Acquisition . Announces that Prudential Regulation Authority has consented to acquisition of Abbey Life Assurance Company Limited .Completion of acquisition is expected to take place on 30 December 2016.  Full Article

Resolution's Cowdery has $2 bln life insurance deal in sight

LONDON, Oct 18 UK life insurance entrepreneur Clive Cowdery, who pioneered the practice of buying up closed books in Britain and the U.S., has launched a new company as more assets come up for sale and hopes to close a $2 billion deal by the end of the year.