LONDON (dpa-AFX) - Phoenix Group Holdings (PHNX.L), a British savings and retirement company, said on Tuesday that it expects to deliver around 1.2 billion pounds of incremental new business in 2022.
This is primarily through its Standard Life branded businesses, comprising around 0.9 billion pounds from its Retirement Solutions business, and circa 0.3 billion from its capital-light fee-based businesses that includes Pensions & Savings, Europe and SunLife.
For 2022, the Group said it remains on track to deliver cash generation at the top end of its target range of 1.3 billion pounds to 1.4 billion pounds.
Phoenix has also setup its first incremental new business long-term cash generation target of around 1.5 billion pounds by 2025, which is around 25 percent increase on the strong performance in 2022.
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