Phoenix plans further acquisitions as profits up

Katrina Lloyd
clock

Fund consolidator Phoenix Group says there are opportunities to take over millions more closed life policies, as its operating profits rose to £176m for the first half of the year.

In its first interim results since acquiring Pearl assets in September 2000, Phoenix says profits are up £146m on the same period last year, while cashflows to its holding companies reached £335m. Assets under management of £69bn were up 3% since 31 December 2009, with £800m of net new third party business It also reported Ignis Asset Management IFRS operating profits were £22m, up 38% on the pro forma comparative period. Having successfully completed its premium listing on the LSE in July, Phoenix said it expects to enter the FTSE 250 Index in September. It also announced a propos...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Wealth managers turn to private markets to offset geopolitical risks

Wealth managers turn to private markets to offset geopolitical risks

60% allocation in 2025

Patrick Brusnahan
clock 26 January 2026 • 1 min read
Chris Justham: All I know about love and the next 12 months

Chris Justham: All I know about love and the next 12 months

'There's power in admitting that you don't know'

Chris Justham
clock 22 January 2026 • 2 min read
Rathbones looks for growth after year of internal focus during Investec merger

Rathbones looks for growth after year of internal focus during Investec merger

Growth in funds under management and administration to £115.6bn

Eve Maddock-Jones
clock 15 January 2026 • 3 min read