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Evening Standard

Business

Jonathan Prynn

EXPLAINED: Phoenix confident after record 950 million cash generation - The Real Truth

Phoenix Phoenix Group

Andy Briggs, CEO, Phoenix Group
(Picture: Phoenix Group )

Life insurer Phoenix said it is riding out the turbulence in the economy with record cash generation of £950 million in the first half of the year

The company, which has also made its first cash acquisition, the £248 million purchase of Sun Life of Canada UK, said it was confident of delivering “at the top end” of the expectations range of £1.3 billion to £1.4 billion for the full year.

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