Standard โคLife Reports Strong Frist Half, โEyesโค in-House Assetโค Managementโฃ & โBrand Refresh
Standard Life (currentlyโ Phoenix โGroupโข Holdings plc) announcedโ a strong first half performance, โwith ยฃ2.8 billionโ inโข net workplace โinflows despite a slight dip โฃfrom โฃยฃ3.3 โbillion year-on-year (which included a โขone-off ยฃ900m bulk win). The company reports a robust pipeline for โtheโข remainder โขof the yearโ and ยฃ3.2โค billion in Buy-Out โข(BPA)โค buisness year-to-date,โ boosted by a โrecord ยฃ1.9 billion deal with the Sedgwick Section of theโ MMC UK Pension Fund completed in July. they’ve also secured aโ furtherโข ยฃ2.9bn of BPA โขpremiums, either completed or in โฃexclusive negotiations as June.Theโ firm โฃis evolving โขits BPA offering through innovations like longevityโฃ insurance novations, โคenhancing its appeal to customers. A key strategic shift involves โคbringing the management of assets backing its annuitiesโข in-house.โ While maintaining its existing outsourced โขmodel for pensions and savings, Standard Life aims to consolidate itsโ asset manager partnerships, with โฃAberdeen โremainingโข a key strategic partner. Currently managing ยฃ5 billion of its ยฃ39 billion annuity portfolio internally,the โฃcompany โplans to โคbring anโ additional ยฃ20 billion in-house. This move is focused solely on annuity assets โandโ dose not signal an intention to become a full-service asset manager orโ manageโค third-party funds.CEO Andy Briggs highlighted the โcompanyS โขprogress towards itsโ 2026 targets, stating, “This is a strong first half performanceโฆdemonstrating โฃcontinued momentum.” He emphasizedโ the firm’s commitment to serving customer โคretirement needs and creating value.the โcompany supports approximately 12 million customers and manages over ยฃ295 billion in assets under administration. โค
Reflecting this โcommitment, Phoenix โgroup Holdingsโฃ plc will rebrand โฃas Standard โฃLife plc in โMarch 2026, โleveraging โthe strength and recognition of the Standard Life brand to underscore its dedication to securing better โretirements forโ its customers.