Phoenix Team will uncover a sale of its SolarLife enterprise enterprise, which sells fairness launch, greater than 50s on a regular basis dwelling protection and inheritance program merchandise and options.
The reductions and retirement group, which has greater than £280bn of property beneath administration and near 12 million consumers, states SolarLife is not any for an extended time a important side of its technique.
“Following a strategic evaluate, the group has concluded that this enterprise is not any for an extended time core to the provision of its imaginative and prescient of getting the UK’s major retirement monetary financial savings and money circulation enterprise,” it states in a inventory business assertion.
It provides: “The board has because of this decided to begin out a sale process, having gained a spread of preliminary expressions of curiosity from third events. Nonetheless, there might be no certainty at this stage {that a} disposal will happen.”
SolarLife reported a income quickly after tax of £16m final 12 months.
The group’s different vital makes encompass value financial savings and retirement enterprise Typical Life, closed reserve consolidator Phoenix Everyday dwelling and on a regular basis dwelling and pensions consolidator ReAssure.
It provides that additional bulletins “shall be produced in due class as applicable”.
