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Phoenix weighing Abbey Life bid

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Closed-book provider Phoenix is weighing a bid for troubled rival Abbey Life, Sky News reports.

Phoenix has hired bankers to advise on a bid for the business, which is owned by Deutsche Bank.

Sky News reports that Deutsche has begin seeking buyers for the business in the last few weeks as part of a drive to strengthen its balance sheet.

Abbey Life includes books of business from companies including London and Edinburgh Life, Excess Life, Target Life and Hill Samuel Life.

The news comes just two weeks after Abbey Life was one of the firms revealed to be facing FCA enforcement following the regulator’s long-awaited closed-book review.

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Guide: how to… communicate with your pension members

Effective communication of your pension scheme is a large part of getting auto-enrolment right. Delivering the same message to all employees is not necessarily the way to go. To assist you with the communication of your pension scheme, we have provided some key areas to think about, such as:

  • What to consider when segmenting your workforce
  • How to communicate to pension scheme members at the right time in their member lifecycle
  • What topics you should be discussing with your pension members
  • The new pension freedoms and the importance of communicating them

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Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Why on earth would anybody want to own as rancid a company as Abbey Life.

    They are simply the least obliging, most anti-adviser company in existence. As this takes them beyond Standard Life it’s a big statement.

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