Report
Benoit Valleaux

Phoenix group : Des dynamiques opérationnelles positives

>Une génération de CF importante - Phoenix Group a publié hier matin son résultat 2020. Le groupe a dégagé un RO avant impôts et coûts de financement de 1 199 M£ en 2020 (+48%), supérieur aux attentes (notre prévision 985 M£, consensus 955 M£). Rappelons que ce RO intègre pour la première fois ReAssure, qui est consolidée depuis juillet dernier. Le RO a bénéficié de la bonne dynamique commerciale du groupe, mais a également été tiré par un impact positif de 277 M£ rés...
Underlying
Phoenix Group Holdings plc

Phoenix Group Holdings is a closed life and pension fund consolidator. Co. manages manage life insurance funds which no longer actively sell new life or pension policies and which run-off gradually over time. Co. has one reportable segment, comprising its investment in and loans to/from Co.'s entities. Its revenue principally comprises the dividend and interest income derived from these investments and loans. As of Dec 31 2014, Co. had approximately 5.0 million policyholders and about £52.30 billion of total life company assets.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Benoit Valleaux

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