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"This has been a period of significant progress for Phoenix Group Holdings, culminating in our successful Premium Listing on the London Stock Exchange. Since the beginning of the year, we have simplified our capital structure, strengthened our Board and management team, resolved a number of outstanding legacy issues, and delivered strong cash generation in difficult markets. The UK savings market stands to benefit from a consolidator that can provide better outcomes for policyholders by ensuring the safe and efficient run-off of millions of policies and many billions of pounds of consumers’ savings in life assurance products. Phoenix is the UK’s largest specialist consolidator of closed life funds and the Group has made enormous strides in the past six months towards being able to deliver the further consolidation that the UK savings market needs."

– Ron Sandler, Chairman