Phoenix Group completes acquisition of Abbey Life business from Deutsche Bank
30th Dec 2016 11:44
(ShareCast News) - Insurance company Phoenix Group has completed the acquisitions of the Abbey life assurance, life and securities businesses from Deutsche Bank. The FTSE 250 company bought Abbey Life Assurance Company, Abbey Life Trustee Services and Abbey Life Trust Securities from Deutsche Holdin
Read morePhoenix Group to buy Abbey Life from Deutsche Bank
28th Sep 2016 08:04
(ShareCast News) - Phoenix Group has agreed to buy Abbey Life from Deutsche Bank subsidiary Deutsche Holdings for £935m in cash. Phoenix said the deal, which is expected to generate about £0.5bn of aggregate cash flows between 2016 and 2020 and approximately £1.1bn from 2021 onwards, will add £10bn
Read morePhoenix Group in advanced talks to buy Deutsche's Abbey Life
16th Sep 2016 07:14
(ShareCast News) - Phoenix Group has confirmed it is evaluating the possibility of acquiring Abbey Life Assurance from Deutsche Bank following reports on Thursday by Bloomberg and Reuters suggesting the two were nearing a deal over the bank's UK insurance business. "As stated at the time of the inte
Read moreFTSE 250 movers: Sophos, Thomas Cook and Auto Trader lead gains
8th Sep 2016 14:53
(ShareCast News) - The FTSE 250 was pretty much flat late into Thursday's session, with security software group Sohpos leading the way thanks to read-across from elsewhere Oxford-based Sophos, which is holding its annual general meeting next week, hit a six-month high on the day that FTSE 100 liste
Read morePhoenix Group reiterates full-year cash-generation target
25th Aug 2016 07:56
(ShareCast News) - Phoenix Group Holdings saw its profitability slide during the first half of the year, even as it closed the acquisition of rival Axa's pensions and protections business, but stuck to its cash generation target for the year. The closed life fund consolidator reported a 21% drop in
Read moreFTSE 250 movers: Phoenix Group firms on AXA Wealth deal
27th May 2016 15:30
(ShareCast News) - FTSE 250 was marginally firmer in late afternoon trade as UK traders wound down ahead of a long weekend, with few of today's in-the-news mid-cap stocks figuring among that index's top-10 risers. Shares in Phoenix Group Holdings were ahead as it agreed with AXA UK to buy AXA Wealth
Read morePhoenix Group to buy AXA wealth assets
27th May 2016 07:36
(ShareCast News) - Phoenix Group Holdings has agreed with AXA UK to buy AXA Wealth's pensions and protection businesses, which is the wealth management arm of the French insurer. Phoenix said the acquisition, which comprises a pensions and investments business offering a range of propositions cateri
Read morePhoenix Group remains on target
12th May 2016 12:35
(ShareCast News) - Phoenix Group revealed it remains on track to meet 2016 cash generation targets of between £350m and £450m on Thursday, ahead of a presentation for investors and analysts focusing on Solvency II, management actions and future financial reporting. The FTSE 250 firm confirmed it has
Read moreMonday broker round-up
11th Apr 2016 16:20
(ShareCast News) - Phoenix Group: JP Morgan downgrades to neutral with a target price of 942p. Fresnillo: RBC downgrades to underperform with a target price of 750. Jupiter Management: UBS reiterates neutral with a target price of 410p and Jefferies keeps at buy, 472p target. Petrofac: Nomura keep
Read morePhoenix Group hits cash generation target, misses on profit
23rd Mar 2016 07:49
(ShareCast News) - Britain's largest closed-life fund consolidator Phoenix Group Holdings said on Wednesday that profits declined in 2015, though it did meet its cash generation target for the year. The FTSE 250 owner of pension funds closed to new investors reported IFRS operating profit for the ca
Read morePhoenix Group Holdings on track for full year target
22nd Oct 2015 08:27
(ShareCast News) - Phoenix Group Holdings says it is on track to meet its 2015 and long term cash generation target. The FTSE 250 life assurance fund consolidator posted a third quarter update on Thursday. It noted that it has generated £137m of cash in the nine months to 30 September. However it
Read moreLondon pre-open: All eyes on the US Federal Reserve
17th Sep 2015 07:39
(ShareCast News) - All eyes are on the US Federal Reserve ahead of today's open and whether or not it will decide to move on interest rates for the first time since 2006. Economists seem split roughly down the middle but futures markets are far more sceptical, attaching a probability of roughly just
Read morePhoenix Group confirms takeover talks with rival Guardian
17th Sep 2015 07:08
(ShareCast News) - Phoenix Group Holdings has confirmed rumours that it has begun non-exclusive talks about acquiring Guardian Financial Services. The FTSE 250-listed closed life and pension fund consolidator said in a statement Thursday that it was "evaluating" the smaller rival as part of an on-go
Read moreFTSE 250 movers: Hunting, Petrofac, Aldermore, OneSavings Bank
27th Aug 2015 15:57
(ShareCast News) - The oil patch was on fire on Thursday as crude futures jumped on both sides of the Atlantic in the wake a much stronger than expected reading on the rate of growth in US gross domestic product. As of 16:30 front month Brent crude futures were up by 6,14% on the ICE at $45.96 per b
Read morePhoenix Group on track for full-year targets
20th Aug 2015 08:13
(ShareCast News) - Phoenix Group said it remains on track to achieve cash generation targets for the year, although it posted a drop first-half cash generation. The company, which specialises in life funds that are closed to new business, said cash generation came in at £110m, down from £332m in the
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