Phoenix Life vindicated in ombudsman decisions
Complaints about mis-selling, high commission and underperformance were not upheld
Phoenix
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Phoenix Life admits error in closing Sipp
The UK’s Pensions Ombudsman has upheld a complaint against insurer Phoenix Life, but absolved financial product provider James Hay of any wrongdoing, after a self-invested personal pension (Sipp) was wrongly disinvested.
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How can a ‘closed’ insurer be open for business?
Phoenix is widely known as a closed fund consolidator, but chief executive Andy Moss argues that this, in many ways, is a misnomer. In this article, he explains why the recent transaction with Standard Life Aberdeen is a “win-win”.
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PEOPLE MOVES: Phoenix, River and Mercantile, Stenham
Phoenix names senior leadership in wake of Standard Life acquisition, Stenham Wealth appoints RBC alumni in Jersey, and River and Mercantile names Australian rugby legend to lead ops down under.
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Two industry heavyweights make major announcements
Standard Life Aberdeen is planning to return £1.75bn (€1.99bn, $2.33bn) in capital to its shareholders after selling its UK and European insurance business, while Old Mutual looks to offer up to 9.6% of shares in Quilter as part of its managed separation.
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PEOPLE MOVES: OMW, Phoenix Group, AMP
Old Mutual Wealth appoints an industry veteran to its specialist pensions team, the Phoenix Group chairman announces his retirement and embattled AMP appoints an executive chairman.
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Is there a new life policy consolidator on the block?
Companies struggling to cover long-term life policy payments could soon have another buyer in the market, following reports that British pensions specialist Clive Cowdery is setting up a fund to do just that.
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Phoenix top as FCA complaints hit 3.8 million
Consolidator The Phoenix Group featured heavily in data from the UK Financial Conduct Authority that shows complaints about all financial services firms rose by 13% in the second half of 2017, driven by payment protection insurance (PPI) claims.
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PEOPLE MOVES: Investec, NN IP and Heartwood
NN IP chooses its lead portfolio manager of emerging market debt, Investec hires its UK institutional sales director from Goldman Sachs and Heartwood makes a raft appointments to its investment team.
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Standard Life acquirer reshuffles top deck
Phoenix Group Holdings has restructured and reshuffled its executive committee ahead of combining the Standard Life Assurance business.
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Is it the end for the traditional life insurance model?
Phoenix Group’s acquisition of Standard Life’s insurance arm is “testament to the current re-shaping of the UK life insurance industry” and the “break-up of traditional models”, the group’s chairman said.
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Phoenix is the real winner of Standard Life deal
Standard Life Aberdeen hailed its decision to sell its insurance arm as “a major step” on the road to becoming a “world-class investment company”, but analysts suggest that Phoenix is the real winner here.