Phoenix Group : Strong cash flow generation but solvency lower than expected
>Strong cash flow generation - Phoenix Group released its H1 2024 results yesterday morning. Premium volumes on annuity products dropped to £ 1.7bn (vs £ 3.2bn in H1 2023), with £ 0.4bn stemming from BPA down sharply on H1 2023, but the group indicated that transactions equating to an additional £ 2.2bn are currently under way. Phoenix Group continued to develop its positions in the Pensions and Savings market, with an increase of 9% in H1 in assets under administrati...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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