Phoenix Group reported an adjusted operating profit of £451m in H1 2025, a 25% increase from the previous year. The UK-based insurer is rebranding to Standard Life plc by March 2026. Loss after tax narrowed to £156m. Operating cash generation grew by 9% to £705m. Solvency II surplus increased to £3.6bn.

Shareholder capital coverage ratio rose to 175%. Pensions and Savings division saw a 20% increase in profit to £179m. Workplace net inflows were £2.8bn, lower than last year. Retirement Solutions segment’s profit surged 36% to £286m. Phoenix Group took control of £5bn from £39bn annuities portfolio.

Transition of 800,000 policies to TCS BaNCS platform completed. Partnership with Wipro established for 1.9 million policies. Interim dividend of 27.35p per share declared. On track to meet financial targets, including £5.1bn total cash generation for 2024-26. CEO Andy Briggs praised strong first-half performance.

Read more at Yahoo Finance: Phoenix Group posts adjusted operating profit of $612m in H1 2025