Phoenix Group looks to offload SunLife business

Insurance and pensions group Phoenix on Wednesday said it was looking to offload its SunLife business after deciding it was no longer core to operations.

Phoenix said it had received a "a number of initial expressions of interest from third parties", but warned there could be no certainty at this stage that a disposal will occur".

SunLife is a leading provider of financial protection products direct to the over 50s market in the UK and reported profit after tax of £16m in 2023.

Reporting by Frank Prenesti for Sharecast.com