Phoenix Team will discover a sale of its SunLife enterprise, which sells fairness launch, round 50s life-style insurance coverage plan and inheritance technique merchandise and options.
The private financial savings and retirement workforce, which has round £280bn of property below administration and round 12 million clients, says SunLife is not any for an extended interval a crucial part of its tactic.
“Following a strategic critique, the group has concluded that this enterprise is not any for an extended time core to the transport and supply of its eyesight of turning into the UK’s main retirement private financial savings and earnings small enterprise,” it states in a inventory trade assertion.
It supplies: “The board has for that cause decided to start out off a sale plan of action, getting acquired a number of first expressions of need from third events. Nonetheless, there could be no certainty at this part {that a} disposal will happen.”
SunLife documented a revenue proper after tax of £16m last yr.
The group’s different important fashions include financial savings and retirement group Common Daily life, closed information consolidator Phoenix Daily life and life-style and pensions consolidator ReAssure.
It provides that further bulletins “might be made in due to system as applicable”.
