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Britain’s Phoenix Group Holdings is looking to buy Guardian Financial Services, in a deal that could be the third biggest this year, for the UK insurance market

Britain’s largest owner of life assurance finds, Phoenix Group Holdings is in talks to buy Guardian Financial Services. This comes at a time when life insurers in the UK are adapting to an overhaul of taxation rules which give retirees more control over their pension pots, no longer compelling them to buy annuities on retirement. If finalised, this could be the third big deal this year in the UK life insurance market after Aviva’s acquisition of Friends Life and the merger of Just Retirement and Partnership Assurance. According to market analysts, a takeover of Guardian would bring assets worth about 18 billion pounds to Phoenix, adding to its assets under management of 52 billion pounds.


M&A,Guardian Financial Services,Phoenix Group Holdings