Sun Life UK operates a predominantly outsourced business model with the majority of its policy administration already undertaken by our strategic outsourcing partner (TCS Diligenta), which supports a simplified operational integration programme. The acquisition is expected to deliver c.£470 million of incremental long-term cash generation, with approximately 30% of this cash generation to emerge in the first three years. This equates to an attractive price to shareholder Own Funds ratio of 83%1, in line with the Board’s disciplined approach to the deployment of shareholder capital. (“Sun Life”) for cash consideration of £248 million. The Board of Phoenix Group Holdings plc (“Phoenix Group” or the “Group”) is delighted to announce the acquisition of Sun Life UK, a closed book UK life insurance company, from Sun Life Financial Inc. Supports a 2.5% inorganic dividend increase payable from and including the 2022 Final Dividend.Targeting c.£125 million of cost and capital integration synergies, net of costs.Acquisition is expected to deliver c.£470 million of incremental long-term cash generation.Attractive transaction pricing with a price to shareholder Own Funds ratio of 83% 1.Phoenix Group to acquire SLF of Canada UK (“Sun Life UK”), a closed book UK life insurance company, for £248 million, funded from existing cash resources.* Please remember that any personal data you send to us by email is not completely secure and is at your own risk. Here’s a list of the companies that we now own. Over the years, we’ve taken on lots of other companies, including Confederation Life in 1995 and Lincoln in 2009. Write to us at Sun Life Financial of Canada, PO Box 7019, Basingstoke, RG24 4LY.For share sales information call us on 03.Email* us at Write to us at i2Live, Sun Life Financial of Canada, PO Box 6904, Basingstoke RG24 4TD.Call us on 03 if you're calling from the UK or +44 1256 656 472 if you're calling from anywhere else.Email* us at Write to us at Sun Life Financial of Canada, Annuities Department, Sutherland House, Russell Way, Crawley RH10 1UH.Call us on 03 if you're calling from the UK or +44 3 if you're calling from anywhere else.
If we’re already paying your pension (annuity) Email* us at Write to us at Sun Life Financial of Canada, PO Box 7019, Basingstoke, RG24 4LY.Call us on 03 if you're calling from the UK or +44 1256 841 414 if you're calling from anywhere else.Our customer portal is not available for financial advisers If you haven’t viewed any of your plans online before, you’ll need to register.
You can visit our customer portal at to manage your plan online.
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