Phoenix Group 2017 interim results
Phoenix Group, the UK's largest specialist closed life fund consolidator, today announces its results for the six months ended 30 June 2017.
- £360 million of cash generation in H1 2017 (H1 2016: £147 million)
- Total holding company cash of £691 million as at 30 June 2017 (£570 million as at 31 December 2016)
- The Group remains on track to achieve its cash generation target of £1.0 billion - £1.2 billion between 2017 and 2018 and its longer term cash generation target of £2.8 billion between 2016 - 2020
- Solvency II surplus as calculated at Phoenix Group Holdings of £1.7 billion as at 30 June 2017 (£1.1 billion as at 31 December 2016)
- Shareholder Capital Coverage Ratio as calculated at Phoenix Group Holdings of 166% as at 30 June 20174 (139% as at 31 December 2016)
- Group operating profit of £215 million in H1 2017 (H1 2016: £107 million)
- Interim dividend of 25.1p per share, a 5% increase on the 2016 final dividend
