Phoenix Group looks to offload SunLife business

Phoenix Group Holdings

521.50p

16:34 28/06/24

0.29%

1.50p

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.

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Life Insurance

5,705.70

17:14 28/06/24

-0.09%

-5.05

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