Phoenix Group Holdings (GB:PHNX) has released an update.
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Phoenix Group Holdings announced its plans to sell its subsidiary SunLife, which serves the over 50s market in the UK and reported a £16 million profit after tax in 2023. The move follows a strategic review that determined SunLife is not aligned with Phoenix Group’s goal to be the UK’s premier retirement savings and income company. While initial interest from potential buyers has been expressed, the company states there is no guarantee a sale will occur.
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