Phoenix group : Résultat solide au S1, mais baisse des affaires nouvelles au S1
>Une génération de cash-flow importante au S1 - Phoenix Group a publié hier son RN du S1 2021. Le groupe a eu une génération de cash-flow de 872 M£ (+101% vs une base au S1 2020 qui n’intégrait pas ReAssure consolidée depuis juillet 2020), supérieure aux attentes (consensus 722 M£, notre prévision 803 M£). Après cette forte génération de CF au S1, Phoenix Group prévoit désormais une génération de CF en année pleine 2021 dans le haut de sa fourchette cible de 1.5 Md£/1...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.
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.
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