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Phoenix Group Holdings PLC (PHNX.L)

PHNX.L on London Stock Exchange

677.50GBp
21 Mar 2019
Change (% chg)

-22.50 (-3.21%)
Prev Close
700.00
Open
692.70
Day's High
695.20
Day's Low
671.80
Volume
2,489,821
Avg. Vol
1,334,557
52-wk High
740.51
52-wk Low
536.72

Latest Key Developments (Source: Significant Developments)

Phoenix Group Says FY Operating Profit Of £708 Million
Tuesday, 5 Mar 2019 

March 5 (Reuters) - Phoenix Group Holdings ::PHOENIX GP HLDGS PLC - 2018 FULL YEAR RESULTS.PHOENIX GROUP HOLDINGS - FY GROUP OPERATING PROFIT OF £708 MILLION (2017: £368 MILLION).PHOENIX GROUP HOLDINGS - SHAREHOLDER CAPITAL COVERAGE RATIO OF 167%(4) AS AT 31 DECEMBER 2018 (147% PRO-FORMA AS AT 31 DECEMBER 2017).PHOENIX GROUP HOLDINGS - SOLVENCY II SURPLUS OF £3.2 BILLION(3) AS AT 31 DECEMBER 2018 (£2.5 BILLION PRO-FORMA AS AT 31 DECEMBER 2017).PHOENIX GROUP HOLDINGS - FY PROPOSED FINAL DIVIDEND OF 23.4P PER SHARE, A 3.5% INCREASE ON 2017 FINAL DIVIDEND.PHOENIX GROUP HOLDINGS - 2019 CASH GENERATION TARGET OF £600 - £700 MILLION.PHOENIX GROUP HOLDINGS - LONG-TERM CASH GENERATION TARGET FOR 2019 - 2023 OF £3.8 BILLION.PHOENIX GROUP HOLDINGS - BREXIT PREPARATIONS COMPLETE.PHOENIX GROUP - 2019 CASH GENERATION TARGET IS NET OF £250 MILLION COST OF CAPITALISING STANDARD LIFE INTERNATIONAL DESIGNATED ACTIVITY COMPANY FOR BREXIT.PHOENIX GROUP - IN 2019 CO EXPECTS TO GENERATE £600 - £700 MILLION OF CASH NET OF COST OF CAPITALISING ITS IRISH SUBSIDIARY FOR BREXIT.PHOENIX GROUP HOLDINGS - EXPECT A FURTHER £8.2 BILLION OF CASH FROM 2024 ON-WARDS.  Full Article

Phoenix Group Says Court Sanctions Proposals To Introduce New Holding Company
Wednesday, 5 Dec 2018 

Dec 5 (Reuters) - Phoenix Group Holdings ::COURT SANCTION OF SCHEME OF ARRANGEMENT.COURT MADE ORDER SANCTIONING SCHEME, CONFIRMING RELATED CANCELLATION OF ALL OF EXISTING OLD PHOENIX SHARES BY WAY OF A REDUCTION OF CAPITAL.REFERS TO PROPOSALS TO INTRODUCE NEW CO INCORPORATED IN ENGLAND & WALES, AS NEW HOLDING CO OF PHOENIX GROUP BY MEANS OF SCHEME OF ARRANGEMENT.  Full Article

Phoenix CEO Sees Opportunity In UK To Grow Through Acquisitions
Thursday, 29 Nov 2018 

Nov 29 (Reuters) - Phoenix Group Holdings ::PHOENIX CEO SAYS BELIEVES MORE TRADITIONAL INSURANCE COS WILL SPLIT, PROVIDING CO WITH OPPORTUNITY TO GROW THROUGH ACQUISITIONS, PARTICULARLY IN UK.  Full Article

Phoenix Group Says 2018 Cash Generation Target Exceeds Upper End Of Target
Thursday, 29 Nov 2018 

Nov 29 (Reuters) - Phoenix Group Holdings ::PHOENIX GROUP HOLDINGS - £664 MILLION OF CASH GENERATION IN 2018 (2017: £653 MILLION).PHOENIX - DELIVERED £1.3 BILLION CASH GENERATION IN 2017 AND 2018, EXCEEDING UPPER END OF CASH GENERATION TARGET OF £1.0 BILLION - £1.2 BILLION FOR THIS PERIOD.PHOENIX GROUP HOLDINGS - SOLVENCY II SURPLUS OF £3.1 BILLION AS AT 30 SEPTEMBER 2018 (£2.5 BILLION PRO-FORMA AS AT 31 DECEMBER 2017).PHOENIX GROUP HOLDINGS - TWO FURTHER BULK PURCHASE ANNUITY TRANSACTIONS COMPLETED DURING SECOND HALF.PHOENIX - DELIVERED £400 MILLION OF CAPITAL SYNERGIES ON STANDARD LIFE ASSURANCE LIMITED DEAL AGAINST A TOTAL £440 MILLION CAPITAL SYNERGY TARGET.  Full Article

Phoenix Group Introduces New Holding Company
Friday, 2 Nov 2018 

Nov 2 (Reuters) - Phoenix Group Holdings ::INTRODUCTION OF A NEW HOLDING COMPANY.PROPOSED SCHEME OF ARRANGEMENT RELATING TO CORPORATE RESTRUCTURING OF OLD PHOENIX.IF SCHEME IS IMPLEMENTED PHOENIX GROUP HOLDINGS PLC , A NEW CO INCORPORATED IN ENGLAND & WALES, WILL BECOME HOLDING CO OF OLD PHOENIX.IF APPROVED, SCHEME AND OLD PHOENIX REDUCTION OF CAPITAL ARE EXPECTED TO BECOME EFFECTIVE ON OR AROUND 12 DECEMBER.APPLICATIONS WILL BE MADE TO UK LISTING AUTHORITY FOR SHARES OF NEW PHOENIX TO BE ADMITTED TO TRADING ON MAIN MARKET FOR LSE.ALL OF DIRECTORS OF OLD PHOENIX HAVE BEEN APPOINTED TO BOARD OF NEW PHOENIX.  Full Article

Phoenix Group To Top Cash Generation Target for 2017, 2018
Thursday, 23 Aug 2018 

Aug 23 (Reuters) - Phoenix Group Holdings ::SAYS GROUP OPERATING PROFIT OF £216 MILLION IN H1 2018.SOLVENCY II SURPLUS OF £2.3 BILLION(3) AS AT 30 JUNE 2018 (£1.8 BILLION AS AT 31 DECEMBER 2017).SHAREHOLDER CAPITAL COVERAGE RATIO OF 180% AS AT 30 JUNE 2018(4) (164% AS AT 31 DECEMBER 2017).SAYS INTERIM DIVIDEND OF 22.6P PER SHARE, CONSISTENT WITH FINAL 2017 DIVIDEND REBASED FOR JULY RIGHTS ISSUE.PHOENIX TO INTRODUCE FEE CAPS ON UNITISED NON-WORKPLACE PENSIONS FOR A ONE OFF EXPECTED COST OF £68 MILLION.GROUP EXPECTS TO EXCEED UPPER END OF ITS CASH GENERATION TARGET OF £1.0 BILLION - £1.2 BILLION BETWEEN 2017 AND 2018.£349 MILLION OF CASH GENERATION(2) IN H1 2018 (H1 2017: £360 MILLION).AXA, ABBEY LIFE INTEGRATIONS COMPLETED AHEAD OF PLAN, TARGETS; DELIVERING COST SYNERGY BENEFITS OF £27 MILLION PER ANNUM.INCREASE 2018 FINAL DIVIDEND TO AN ANNUALISED LEVEL OF £338 MILLION.COMPLETED ITS FIRST BULK ANNUITY TRANSACTION WITH A £470 MILLION BOOK ACQUIRED IN FIRST HALF OF YEAR AND ALL LONGEVITY RISK WAS REINSURED.CO WILL NO LONGER DESCRIBE ITSELF A PURELY A 'CLOSED' BUSINESS, BUT AS CONSOLIDATOR OF OPEN AND HERITAGE LIFE BUSINESSES.CONTINGENCY PLANS CONTINUE TO BE PROGRESSED TO ENABLE EU POLICYHOLDERS TO BE SERVICED IN EVENT OF A 'HARD BREXIT'.EXPLORING RANGE OF OPTIONS TO ENSURE CO CAN SERVICE IRISH POLICYHOLDERS AS PART OF BREXIT CONTINGENCY PLANNING.  Full Article

Phoenix Group Holdings Issues Warrant Redemption Notice
Monday, 23 Jul 2018 

July 23 (Reuters) - Phoenix Group Holdings ::ON 2 SEPTEMBER 2009, PHOENIX ISSUED 5 MILLION WARRANTS OVER ITS SHARES TO CERTAIN OF ITS LENDERS.HAVING NOW AMENDED WARRANT INSTRUMENT TO PERMIT REDEMPTION AT RELEVANT PRICE, IT WILL REDEEM ALL OUTSTANDING WARRANTS ON 23 AUGUST 2018.  Full Article

Phoenix Group Holdings Announce Results Of Rights Issue
Tuesday, 10 Jul 2018 

July 10 (Reuters) - Phoenix Group Holdings ::RESULTS OF RIGHTS ISSUE.IT HAD RECEIVED VALID ACCEPTANCES IN RESPECT OF 176,693,407 NEW SHARES (REPRESENTING 96.25 PER CENT. OF NEW SHARES OFFERED.  Full Article

SLA shareholders vote for Phoenix insurance deal, share buybacks
Monday, 25 Jun 2018 

June 25 (Reuters) - Standard Life Aberdeen PLC ::STANDARD LIFE ABERDEEN SHAREHOLDERS VOTE IN FAVOUR OF SALE OF STANDARD LIFE ASSURANCE LIMITED TO PHOENIX GROUP HOLDINGS <<>>.99.26 PERCENT OF SHAREHOLDERS VOTE FOR SALE .MORE THAN 99 PCT OF SHAREHOLDERS ALSO VOTE FOR SHARE BUYBACKS TOTALLING UP TO 1.75 BLN STG.  Full Article

Phoenix Group names two new non-execs
Monday, 25 Jun 2018 

June 25 (Reuters) - Phoenix Group Holdings ::APPOINTMENT OF TWO NEW NON-EXECUTIVE DIRECTORS: BARRY O'DWYER AND CAMPBELL FLEMING, BOTH OF STANDARD LIFE ABERDEEN PLC ("STANDARD LIFE ABERDEEN")..  Full Article

Dividend, FTSE 100 inclusion lend appeal to Phoenix Group shares - Barron's

NEW YORK, March 17 Shares of U.K. insurer Phoenix Group Holdings are appealing for several reasons including their pending inclusion in a key British stock index and a stable, hefty dividend, according to Barron's.