Standard Life Reports Strong Frist Half, Eyes in-House Asset Management & Brand Refresh
Standard Life (currently Phoenix Group Holdings plc) announced a strong first half performance, with £2.8 billion in net workplace inflows despite a slight dip from £3.3 billion year-on-year (which included a one-off £900m bulk win). The company reports a robust pipeline for the remainder of the year and £3.2 billion in Buy-Out (BPA) buisness year-to-date, boosted by a record £1.9 billion deal with the Sedgwick Section of the MMC UK Pension Fund completed in July. they’ve also secured a further £2.9bn of BPA premiums, either completed or in exclusive negotiations as June.The firm is evolving its BPA offering through innovations like longevity insurance novations, enhancing its appeal to customers. A key strategic shift involves bringing the management of assets backing its annuities in-house. While maintaining its existing outsourced model for pensions and savings, Standard Life aims to consolidate its asset manager partnerships, with Aberdeen remaining a key strategic partner. Currently managing £5 billion of its £39 billion annuity portfolio internally,the company plans to bring an additional £20 billion in-house. This move is focused solely on annuity assets and dose not signal an intention to become a full-service asset manager or manage third-party funds.CEO Andy Briggs highlighted the companyS progress towards its 2026 targets, stating, “This is a strong first half performance…demonstrating continued momentum.” He emphasized the firm’s commitment to serving customer retirement needs and creating value.the company supports approximately 12 million customers and manages over £295 billion in assets under administration.
Reflecting this commitment, Phoenix group Holdings plc will rebrand as Standard Life plc in March 2026, leveraging the strength and recognition of the Standard Life brand to underscore its dedication to securing better retirements for its customers.