UK $400 Billion Savings & Retirement Phoenix Group Cancels $27 Billion (£20 Billion) Annuity Portfolio Allocated to UK $692 Billion Investment Manager Aberdeen Which is Still Managing Phoenix Group $190 Billion (£140 Billion) AUM, Phoenix Group to Rebrand to Standard Life in 2026
12th September | Hong Kong
UK savings & retirement Phoenix Group ($400 billion AUM) has cancelled the $27 billion (£20 billion) annuity portfolio allocated to UK investment manager Aberdeen ($692 billion AUM), which is still managing Phoenix Group $190 billion (£140 billion) AUM. Phoenix Group CEO Andy Briggs: “We’ve strengthened our balance sheet and continued to invest in our market-leading Pensions and Savings and Retirement Solutions businesses. Our strategic delivery includes moving ahead with our advice proposition and in-housing the management of annuity-backing assets to benefit from our scaled asset management capabilities. We support c.12 million customers in managing over £295 billion in assets under administration. Changing our name from Phoenix Group Holdings plc to Standard Life plc in March 2026 brings our most trusted brand to the forefront and demonstrates our commitment to helping customers secure a better retirement … … We are now managing £5bn of our £39bn annuities portfolio in-house, and are currently preparing to in-house a further c.£20bn.” In 2026, Phoenix Group will be rebranding to Standard Life. Phoenix Group – We’re a long-term savings and retirement business with over £295 billion of assets under administration. We offer our c.12 million customers a range of products through our trusted pensions, savings and life insurance brands. We’re Phoenix Group, and our customer brands include SunLife, Standard Life, Phoenix Life, and ReAssure. While we have a thriving ‘open’ business through the Standard Life and SunLife brands, a key driver of value for us is our expertise in managing ‘heritage’ books of business no longer open to new customers. We have offices around the UK as well as operations in Dublin and Frankfurt. Phoenix Group is the brand for Phoenix Group Holdings PLC, its subsidiary companies and brands.
“ UK $400 Billion Savings & Retirement Phoenix Group Cancels $27 Billion (£20 Billion) Annuity Portfolio Allocated to UK $692 Billion Investment Manager Aberdeen Which is Still Managing Phoenix Group $190 Billion (£140 Billion) AUM, Phoenix Group to Rebrand to Standard Life in 2026 “
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UK $400 Billion Savings & Retirement Phoenix Group Cancels $27 Billion (£20 Billion) Annuity Portfolio Allocated to UK $692 Billion Investment Manager Aberdeen Which is Still Managing Phoenix Group $190 Billion (£140 Billion) AUM, Phoenix Group to Rebrand to Standard Life in 2026
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