Phoenix Group delivers another year of strong organic new business growth in 2023 and achieves its 2025 growth target two years early
· 2023 new business net fund flows of c.£7bn, a c.80% year-on-year increase
· Workplace net fund flows of c.£4.5bn have nearly doubled year-on-year with c.£2bn of new scheme assets transferred in 2023, including the transfer of one of the largest workplace schemes tendered in the UK market in recent years
· BPA premiums of c.£6bn written in 2023 (FY22: £4.8bn), with a reduced capital strain of <5%
· The Group has therefore delivered c.£1.5bn of new business long-term cash generation in 2023, achieving its 2025 target two years early
https://www.investegate.co.uk/announcem ... nt/8016200
Also posted on Company News here; viewtopic.php?p=644088#p644088
I hold these in my HYP, and know others here do too, so this may be of interest here.
Ian.