Phoenix Group posts record first-half performance as insurer is lifted by pension product demand and higher interest rates
- A record £950m of cash was generated by Phoenix during the first half of 2022
- Phoenix recently agreed to purchase Sun Life of Canada’s UK division for £248m
- The firm declared it had enhanced its balance sheet by repaying £450m of debt
Phoenix Group is forecasting cash generation to reach the high end of annual forecasts, following a jump in demand for pension deals.
The FTSE 100 firm generated a record £950million of cash during the…