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Proposed strategic partnership with Phoenix Group
Standard Life is changing, but our values remain the same
Standard Life Aberdeen recently announced a strategic partnership with Phoenix Group subject to shareholder, regulatory and other approvals. With Phoenix committing to supporting Standard Life’s plans to continue writing profitable business, the company will continue to evolve, as it has done many times over our 193 year history. Our commitment to supporting financial advisers remains. We’re here to support you so you can focus on helping your clients make good choices for their futures.
While part of Standard Life Assurance Limited including Standard Life Ireland will be owned by Phoenix under the proposed partnership, there will be no change to the Standard Life brand as both Phoenix Group and Standard Life recognise its strength. The service you receive will also remain unchanged. We understand your needs and we know that you value the service our people provide to you and your clients. It is important to us that this level of service continues. Therefore your key contacts will stay the same.
The proposed partnership with Phoenix Group marks our latest chapter, and we have every intention of making it as successful as those before it. Standard Life Aberdeen will own a 19.99% share in Phoenix and will have two representatives on their board. It is also the start of a new journey for Phoenix, one they have described as a transformational acquisition; almost doubling their customer base from 5.6 million policyholders to over 10 million and bringing their life company assets from £74bn to £240bn. We will keep you up to date on the proposed partnership; however we anticipate very little change as a result of the announcement.