Phoenix Group : 2023 operating profit a shade ahead of expectations
>Strong growth in new business in 2023 - Phoenix Group reported its 2023 results last Friday. Total cash flow generation was £ 2,024m (35%), beating the group’s updated guidance (around £ 1.8bn), boosted by a big impact from managerial actions (note also that it benefited from a gain of £ 0.4bn relating to the Part VII transfers from Standard Life and Phoenix Life announced last November). Long-term cash flow generation from new business was £ 1,514m (+23%), in line w...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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