Phoenix Group (Phoenix), the long-term savings and retirement provider, has announced it will discontinue the sale process of its SunLife UK protection business.
The group said this decision comes in response to the "current uncertainty" in the protection market, with a disposal at this stage unlikely to "maximise value for shareholders". Instead, the board will now focus on building on the value SunLife generates within the group. Phoenix described the business as a "valuable asset which contributes to the group's new business growth". Phoenix had announced its intention to sell the business in June 2024 following a strategic review. At the time, the group said SunLife was no longer core to the delivery of its vision of becoming the UK's l...
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