Phoenix is a group of authorised life assurance companies which are owned by Phoenix Group Holdings. The principal life company branded Phoenix is Phoenix Life Limited.
History of Phoenix
In September 2004, Resolution Life Group Limited bought the UK life funds of the Royal & SunAlliance Group.
This purchase included the UK life funds of Royal & SunAlliance Life & Pensions Limited and Royal & Sun Alliance Linked Insurances Limited.
In April 2005, Resolution Life went on to buy Swiss Life (UK). At this point, Resolution Life decided to combine the former Royal & SunAlliance and Swiss Life (UK) funds. All the policies within it were re-branded to Phoenix.
On 15 April 2005, Resolution Life changed the names of Royal & SunAlliance Life & Pensions Limited to Phoenix Life & Pensions Limited; and Sun Alliance & London Assurance Company to Phoenix & London Assurance Limited.
In September 2005, Resolution Life Group Limited merged with Britannic Group plc to form Resolution plc. Following the merger, Resolution plc was restructured and on 29 December 2005, Royal & SunAlliance Linked Insurances Limited was renamed Phoenix Life Limited.
In September 2006, Resolution plc bought Abbey National plc’s life companies. Abbey National Life plc was then re-branded to Phoenix Life Assurance Limited.
On 31 December 2006, further life businesses from other companies were transferred and re-branded to Phoenix Life Limited. If you’d like to know more about these transfers, please follow this link.
On 1 May 2008, Resolution plc was acquired by Pearl Group Limited.
On 3 June 2008, Scottish Provident International Life Assurance became part of the Royal London Group.
On 1 August 2008, Phoenix Life Assurance Limited became part of the Royal London Group.
Following approval from the High Court on 30 January 2009, certain businesses of Scottish Provident Limited and Scottish Mutual Assurance Limited were transferred and re-branded to Phoenix Life Limited on 6 February 2009. If you’d like to know more about these transfers, please follow this link.
On 2 September 2009, Pearl Group (formerly Liberty Acquisition Holdings (International) Company) became the ultimate holding company of the Pearl group of companies.
On 15 March 2010, Pearl Group changed its name to Phoenix Group Holdings. Phoenix Group Holdings is the holding company of the Phoenix Group of companies. Follow this link to their website www.thephoenixgroup.com.
Following approval from the High Court on 11 February 2011, all Phoenix & London Assurance Limited (PALAL) policies transferred to Phoenix Life Limited on 21 February 2011. If you’d like to know more about this transfer, please follow this link.