Phoenix Group Holdings plc is a provider of

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

services based in

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

, England. It is listed on the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

and is a constituent of the

FTSE 100 Index The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie" , is the United Kingdom's best-known stock market index of the 100 most highly capitalised blue chips listed on ...

History

The company was founded in 1857 as The Pearl Loan Company and operated from the Royal Oak

public house A pub (short for public house) is in several countries a drinking establishment licensed to serve alcoholic drinks for consumption Licensing laws of the United Kingdom#On-licence, on the premises. The term first appeared in England in the ...

opposite the

Whitechapel Bell Foundry The Whitechapel Bell Foundry was a business in the London Borough of Tower Hamlets. At the time of the closure of its Whitechapel premises, it was the oldest manufacturing company in Great Britain. The bell foundry primarily made church bells ...

. It changed its name to The Pearl Assurance Company in 1914, when it moved to 252 High Holborn where it was based until moving its head office to

Peterborough Peterborough ( ) is a City status in the United Kingdom, cathedral city in the City of Peterborough district in the Ceremonial counties of England, ceremonial county of Cambridgeshire, England. The city is north of London, on the River Nene. A ...

in 1989. In 1990, it was acquired by the

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

n insurance group, AMP, and in 2003, Pearl, NPI and London Life Association were demerged from AMP to become part of Henderson Group. In 2005, the Pearl Group was bought from Henderson Group by Sun Capital Partners (a business in which Hugh Osmond is a leading partner) and

TDR Capital TDR Capital LLP is a British private equity firm headquartered in London, England. History TDR Capital was co-founded in 2002 by Manjit Dale, Stephen Robertson, and Tudor Capital.

. It acquired Resolution Life (including its Phoenix Assurance operations) in 2008. In 2009, the business was acquired by the Liberty Acquisition Holdings (International) Company (a vehicle controlled by billionaire

Nicolas Berggruen Nicolas Berggruen (; born 10 August 1961) is a US-based billionaire investor and philanthropist. Born in Paris, France, he is a dual German and American citizen. He is the founder and president of Berggruen Holdings, a private investment company ...

), which subsequently renamed itself Pearl Group. In 2010, Pearl Group rebranded as Phoenix Group Holdings. In March 2014, the business sold Ignis Asset Management to Standard Life Investments, the asset management arm of Standard Life. In 2018, Phoenix Group agreed to acquire Standard Life Assurance from

Standard Life Aberdeen Aberdeen Group plc, trading as aberdeen, is a United Kingdom-based investment company headquartered in Edinburgh, Scotland. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The registered office of the compa ...

for £2.9 billion. As part of the transaction Standard Life Aberdeen retained a stake in the combined group. In 2020, Phoenix completed the acquisition of fellow closed book specialist ReAssure Group from Swiss Re. In 2021, it was announced that Phoenix had acquired the rights to the Standard Life brand and had undertaken additional steps to simplify the relationship with Standard Life Aberdeen that had developed since the acquisition of the Standard Life business three years previously.

Operations

Phoenix Group comprises a number of regulated life companies in the UK: * Phoenix Life, a closed life insurance business covering Phoenix Life and Phoenix Life Assurance (former Pearl Assurance) * Phoenix Wealth, the UK-based pensions and investments previously offered by

AXA Axa S.A. is a French multinational insurance corporation headquartered in the 8th arrondissement of Paris. It also provides investment management and other financial services via its subsidiaries. As of 2024, it is the fourth largest financi ...

Wealth * Standard Life * ReAssure, covering ReAssure and ReAssure Life (formerly Old Mutual Wealth Life Assurance) and also including Ark Life * SunLife * SunLife of Canada UK * Phoenix Corporate Investment Services plus other unregulated businesses: * Vebnet

References

External links

Official website
{{Authority control 1857 establishments in England British companies established in 1857 Companies based in Peterborough Companies listed on the London Stock Exchange Companies in the FTSE 100 Index Financial services companies based in the City of London Financial services companies established in 1857 Insurance companies of the United Kingdom

History

Operations

See also

References

External links