Phoenix Group looks to offload SunLife business

(Sharecast News) - Insurance and pensions group Phoenix on Wednesday said it was looking to offload its SunLife business after deciding it was no longer core to operations.

Phoenix said it had received a "a number of initial expressions of interest from third parties", but warned there could be no certainty at this stage that a disposal will occur".

SunLife is a leading provider of financial protection products direct to the over 50s market in the UK and reported profit after tax of £16m in 2023.

Reporting by Frank Prenesti for Sharecast.com