Phoenix Group : Sizeable cash flow generation expected in H1, uncertainties on the impact of IFRS 17
>Significant cash flow generation - Phoenix Group is scheduled to report its H1 2023 results on 18 September. As a reminder, Phoenix Group has not yet provided its 2022 figures under IFRS 17, which makes it impossible to estimate IFRS 17 earnings (and naturally no consensus is available). We expect cash flow generation to be down 29.5% to £ 670m in H1 2023 vs a high base in H1 2022, buoyed by a high level of gains from management actions carried out by the group. Our ...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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