Insurer Phoenix Group confident of hitting top end of forecasts

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…

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