Phoenix Group predicts it will achieve £1.2bn in new business long-term cash generation for 2022, according to its latest trading statement.
It said it would also likely deliver 2022 cash generation at the top end of its target range of £1.3bn to £1.4bn. The statement was released ahead of the business's capital markets day later (6 December), at which it said it would outline its progress on building the firm's organic growth and give an update on its future plans. The statement added Phoenix Group was setting its first incremental new business long-term cash generation target of c.£1.5bn by 2025, which is a c.25% increase on the strong performance in 2022. Group chief executive Andy Briggs (pictured) said: "It is shap...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
