Phoenix Group

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Phoenix Group Holdings
Traded as LSEPHNX
Industry Insurance
Founded 1857
Headquarters London, UK
Key people
Henry Staunton, Chairman
Clive Bannister, CEO
Revenue £7,445 million (2016)[1]
£52 million (2016)[1]
£(100) million (2016)[1]

The Phoenix Group (formerly Pearl Group, LSEPHNX) is one of the largest providers of insurance services in the United Kingdom. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.


The Company was founded in 1857 as The Pearl Loan Company and operated from the Royal Oak Public House opposite the Whitechapel Bell Foundry.[2] It changed its name to The Pearl Assurance Company in 1914,[2] when it moved to 252 High Holborn where it was based until moving its head office to Peterborough 1989.[3] In 1990, it was acquired by the Australian insurance group, AMP, and then in 2003, Pearl, NPI and London Life were demerged from AMP to become part of Henderson Group.[4]

In 2005, the Pearl Group was bought from Henderson Group by Sun Capital Partners (a business in which Hugh Osmond is a leading partner)[5] and TDR Capital.[4] It acquired Resolution Life in 2008 (including its Phoenix Assurance operations).[6] In 2009, the business was acquired by the Liberty Acquisition Holdings (International) Company (a vehicle controlled by billionaire Nicolas Berggruen), which subsequently renamed itself Pearl Group.[7]

In 2010, Pearl Group changed its name to Phoenix Group Holdings.[8] In March 2014, the business sold Ignis Asset Management to Standard Life Investments, the asset management arm of Standard Life.[9]


Phoenix Group's head office at Juxon House in London

The Phoenix group's main business unit is Phoenix Life. Phoenix Life comprises four regulated life companies:[10]

  • Phoenix Life and Phoenix Life Assurance (prior to 2012, the latter was known as Pearl Assurance)
  • Phoenix Ireland
  • AXA Wealth
  • Abbey Life


  • SunLife


  1. ^ a b c "Annual Report 2016" (PDF). Phoenix Group. Retrieved 22 April 2017. 
  2. ^ a b Pearl Group: History
  3. ^ "Pearl Assurance Company". British Listed Buildings. Retrieved 13 February 2017. 
  4. ^ a b AMP wins as UK spinoff sells life funds for $2.6bn Sydney Morning Herald, 11 December 2004
  5. ^ Rising of Sun is new dawn for Osmond Daily Telegraph, 27 January 2002
  6. ^ Resolution board says yes to £5bn Pearl bid Guardian, 17 November 2007
  7. ^ Bondholders holding £500m IOUs warn Pearl Flotation Daily Mail, 3 July 2009
  8. ^ Phoenix Group Holdings Group transition Phoenix Group Holdings Audited Results for the year ended 31 December 2009
  9. ^ "Standard Life Investments buys fund manager Ignis for £390m". BBC News. 2014-03-26. Retrieved 2016-10-11. 
  10. ^ "Our companies". Phoenix Group. Retrieved 22 April 2017. 

External links

  • Official website
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