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In 2010, Pearl Group rebranded as Phoenix Group Holdings. [9] In March 2014, the business sold Ignis Asset Management to Standard Life Investments, the asset management arm of Standard Life. [10] In 2018, Phoenix Group agreed to acquire Standard Life Assurance from Standard Life Aberdeen for £2.9 billion.
In September 2005, Resolution Life merged with the FTSE company Britannic Group, who had closed to new business in 2003. [ citation needed ] In 2006, the merged group bought the life business of Abbey National , a transaction of £3.6 billion that brought entry into the FTSE 100.
In 1851, the oldest predecessor of The Phoenix Companies, The American Temperance Life Insurance Company, was founded.The American Temperance Life Insurance Company was a part-mutual, part-stock company that insured only those who abstained from alcohol and was founded by a group of prominent Hartford businessmen as well as religious and civic leaders.
In 2018, Phoenix Group Holdings plc acquired Standard Life from Standard Life Aberdeen plc for £2.9 billion. [24] In May 2021, Phoenix Group acquired the 'Standard Life' brand [25] and in July 2021 Aberdeen Standard Life Group companies rebranded as ‘abrdn’. [26]
In 1900, they became the first company to offer life insurance without a medical. SunLife has been part of the Phoenix Group since 2016. SunLife is regulated by the Financial Conduct Authority [4] and their qualifying products are covered by the Financial Services Compensation Scheme. The company is a member of the Data & Marketing Association. [5]
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Bannister as the Phoenix Group CEO in 2019. Under the chairmanship of Ron Sandler (2009–2011), Bannister was recruited in 2011 [ 15 ] [ 16 ] and charged with the turnaround of the business. In 2008, the Pearl Group (renamed Phoenix Group in 2010) had acquired Resolution plc for £5bn to create the UK's largest "runoff" (Zombie) life fund ...
The Company became wholly owned by Lloyds TSB in 1996 [2] and absorbed Hill Samuel Life Assurance Company in 1998. [2] It lost its sales force in 2000 when it closed to new business. [2] In 2007, Lloyds Banking Group sold the Company to Deutsche Bank. [3] On 30 December 2016 Abbey Life was acquired by the Phoenix Group. [4]