Key facts

THE LARGEST UK CONSOLIDATOR OF CLOSED LIFE ASSURANCE FUNDS

Our business manages closed life funds in an efficient and secure manner, protecting and enhancing policyholders' interests whilst maximising value for the Group's shareholders.

As a closed life fund consolidator Phoenix Life focuses on the efficient run-off of existing policies, maximising economies of scale and generating capital efficiencies through operational improvements.


Company Website

Financial Calendar

Recent Broker notes

BarChart Indicators

Recent Market news

Phoenix Group's Fundamentals (PHNX)

Is JLIF one you follow?

Yes and I also bought JLG recently.

Thanks for that. As usual I am on my hunt for good divi payers, but am trying to spread the risk over different sectors. Lots of high divi payers in the Equity Investment and Financial Services sectors, but am hoping mining will get back into favour soon. Utilities of course in the mix, but a tad dull!!!

It is becoming more difficult to find decent yielders - I'm more than heavy enough in the utilities and have dumped CNA this morning - hoping to find better options near term!

I still like CLLN and the yield is still 5.4% in 2016, but the 15% declared short interest worries me big time. I don't understand why it's so high.
Also looking at HSTN, LMP, INPP, AMFW, KIE and LGEN.

Thanks - I'll have a look - the only one of those that I hold is LGEN and they are +157%, so I'm thinking of trimming my holding - caveat being my previous post!

Investment Grade Rating

Phoenix Group Holdings ("Phoenix" and, together with its subsidiaries, the "Group") is pleased to announce that its two principal operating life companies, Phoenix Life Limited and Phoenix Life Assurance Limited have been assigned the Insurer Financial Strength ("IFS") ratings of "A" with a stable outlook by Fitch Ratings.

This is Phoenix's inaugural rating and reflects the Group's strong capital position, cash flows and track record. The rating also reflects the strength of the Group's competitive position as a leading closed life fund consolidator.

The "A" ratings for the Group's life companies and investment grade ratings for the Group's senior and hybrid debt mark the achievement of an ambition set out during 2014.


more....

JP Morgan Cazenove Overweight 870.00 870.00 925.00 925.00 Reiterates

A good response and £9 in sight!

JP Morgan Cazenove Overweight 880.50 880.50 925.00 925.00 Reiterates

Interim Results

Financial highlights
· Investment grade credit rating achieved from Fitch Ratings, with the Group's two principal operating life companies being assigned an Insurer Financial Strength rating of "A"

· £110 million of cash generation1 in H1 2015 (HY14: £332 million). The Group remains on track to achieve cash generation targets of £200 million - £250 million in 2015 and £2.8 billion between 2014 - 2019

· £84 million of incremental MCEV enhancement achieved in H1 2015, on track to meet the incremental MCEV target of £400 million between 2014 - 2016 having achieved £345 million from management actions

· Group MCEV of £2.6 billion at 30 June 2015 (FY14: £2.6 billion)

· Group IFRS operating profit of £135 million in H1 2015 including £23 million from management actions (HY14: £266 million, including £114 million from management actions)

· Financial Leverage2 of 39.2% at 30 June 2015 (FY14: 39.3%), with £60 million of bank debt amortisation paid in H1 2015

· IGD surplus of £1.6 billion and IGD headroom of £0.8 billion at 30 June 2015 (FY14: £1.2 billion and £0.5 billion respectively)3

· PLHL ICA surplus of £0.7 billion and PLHL ICA headroom of £0.6 billion at 30 June 2015 (FY14: £0.7 billion and £0.6 billion respectively)3

· Interim dividend of 26.7p per share, in line with 2014 interim and final dividends, demonstrating our commitment to a stable and sustainable dividend for shareholders

Solvency II update

· The Group submitted its application for regulatory approval of its Internal Model in June 2015

· The Group expects to be well capitalised under the new Solvency II regime, with the Group capital position under Solvency II3 expected to be in excess of the current PLHL ICA surplus, subject to regulatory approval

Operational highlights

· Implemented options for customers to take advantage of the new pension freedoms introduced in April, either directly by Phoenix Group or through its partnership agreements with other product providers

· Exchange offer of Tier 1 bonds into new subordinated notes with a maturity of 2025 completed in January 2015, with a 99% take-up rate by bondholders

· Completed funds merger of National Provident Life Limited into Phoenix Life Assurance Limited

· Simplification of Group corporate structure in H1 2015, increasing IGD surplus and providing a more appropriate Group structure for the Solvency II capital regime

Phoenix Group appoints Henry Staunton as Chairman

Ex dividend tomorrow @26.7p

Canaccord Genuity Buy 850.25 850.00 890.00 Upgrades

Phoenix Group Holdings: Statement regarding Press Comment

The Board of Phoenix Group Holdings ("Phoenix" or "the Company") notes recent media speculation regarding a possible acquisition of Guardian Financial Services.

As stated at the time of the 2015 Interim results on 20 August 2015, Phoenix believes there are a number of potential acquisition and consolidation opportunities in the UK closed life sector and has been reviewing those options within the framework of its existing commitment to stakeholders. Having secured an investment grade rating earlier this year, the Group is well positioned to take advantage of the consolidation opportunities in its sector.

In this context, Phoenix has been evaluating Guardian Financial Services as part of an on-going sale process for the Guardian Financial Services business. Discussions remain on a non-exclusive basis. There can be no certainty that these discussions will lead to any transaction.

Further statements will be issued if appropriate.

.

Looking for another attempt on the 20th March high of 935p.

Internal Model Application Approval

Phoenix Group Holdings ("Phoenix" and, together with its subsidiaries, the "Group") is pleased to announce that the Prudential Regulatory Authority has approved the Group's Internal Model Application under Solvency II. The Solvency II capital regime will apply from 1 January 2016.

As stated at the time of Phoenix's Interim Management Statement on 22 October 2015, the Group continues to expect to be well capitalised under Solvency II, with the Group capital position under Solvency II as calculated at Phoenix Life Holdings Limited ("PLHL") expected to be in excess of the current PLHL ICA surplus.

Phoenix will provide further detail on its Solvency II capital position at the time of its full year results on 23 March 2016.

Berenberg Hold 833.50 888.00 892.00 Resumes

Well that's Berenberg's TP.