Phoenix Group : Gradual growth in operating cash flow generation expected
>Gradual operating cash flow generation growth - Phoenix Group is due to report its H1 2024 results on 16 September. We forecast total cash generation of £ 745m (-17.0% vs a comparison base of £ 898m in H1 2023), close to the consensus (£ 739m). The group presented a new metric at the presentation of its full-year results, namely operating cash generation, which equates to a sustainable level of surplus capital generation under Solvency 2 from the insurance subsidiari...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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