Phoenix Group Analyst and Investor Presentation

This is the archive webcast of the presentation at 09:30 (GMT) on Friday, 6 December 2019

Loading the player ...
Proposed acquisition of ReAssure Group plcProposed acquisition of ReAssure Group plc
AgendaAgenda
Transaction overviewTransaction overview
The transaction confirms Phoenix as Europe’s largest life and pensions consolidatorThe transaction confirms Phoenix as Europe’s largest life and pensions consolidator
Phoenix is acquiring 100% of ReAssure Group plc (“ReAssure”)Phoenix is acquiring 100% of ReAssure Group plc (“ReAssure”)
Enhances Phoenix’s key attributes of Cash, Resilience and GrowthEnhances Phoenix’s key attributes of Cash, Resilience and Growth
Incremental cash generation supports 3% dividend increaseIncremental cash generation supports 3% dividend increase
We will take an aligned approach to integration to ensure enterprise stabilityWe will take an aligned approach to integration to ensure enterprise stability
Financial benefits of transactionFinancial benefits of transaction
Acquisition delivers Cash and Resilience with all metrics within target rangeAcquisition delivers Cash and Resilience with all metrics within target range
Significant increase in total future in-force cash flows to £19 billionSignificant increase in total future in-force cash flows to £19 billion
Expected cost and capital synergies from the transaction are substantialExpected cost and capital synergies from the transaction are substantial
Attractive transaction pricing with price to own funds ratio of 0.91xAttractive transaction pricing with price to own funds ratio of 0.91x
£3.5 billion ReAssure pro-forma own funds reflects positive variances during 2019 £3.5 billion ReAssure pro-forma own funds reflects positive variances during 2019
Efficient financing structure that utilises debt capacityEfficient financing structure that utilises debt capacity
Clear governance structure with support from strategic shareholdersClear governance structure with support from strategic shareholders
Our outstanding debt will reduce over the coming yearsOur outstanding debt will reduce over the coming years
Enhanced balance sheet strength with resilience maintainedEnhanced balance sheet strength with resilience maintained
Cash generation builds holding company cash and supports dividendCash generation builds holding company cash and supports dividend
Beyond 2023, we will deliver a further £12.5 billion of cash generationBeyond 2023, we will deliver a further £12.5 billion of cash generation
ConclusionConclusion
The acquisition of ReAssure is strategically compellingThe acquisition of ReAssure is strategically compelling
Phoenix will deliver enhanced Cash, Resilience and GrowthPhoenix will deliver enhanced Cash, Resilience and Growth
Q&AQ&A
Q&AQ&A
Q&AQ&A
Q&AQ&A
Q&AQ&A
Q&AQ&A
Q&AQ&A
Slides
Search
Documents

Proposed acquisition of ReAssure Group plc
Proposed acquisition of ReAssure Group plc
Agenda
Agenda
Transaction overview
Transaction overview
The transaction confirms Phoenix as Europe’s largest life and pensions consolidator
The transaction confirms Phoenix as Europe’s largest life and pensions consolidator
Phoenix is acquiring 100% of ReAssure Group plc (“ReAssure”)
Phoenix is acquiring 100% of ReAssure Group plc (“ReAssure”)
Enhances Phoenix’s key attributes of Cash, Resilience and Growth
Enhances Phoenix’s key attributes of Cash, Resilience and Growth
Incremental cash generation supports 3% dividend increase
Incremental cash generation supports 3% dividend increase
We will take an aligned approach to integration to ensure enterprise stability
We will take an aligned approach to integration to ensure enterprise stability
Financial benefits of transaction
Financial benefits of transaction
Acquisition delivers Cash and Resilience with all metrics within target range
Acquisition delivers Cash and Resilience with all metrics within target range
Significant increase in total future in-force cash flows to £19 billion
Significant increase in total future in-force cash flows to £19 billion
Expected cost and capital synergies from the transaction are substantial
Expected cost and capital synergies from the transaction are substantial
Attractive transaction pricing with price to own funds ratio of 0.91x
Attractive transaction pricing with price to own funds ratio of 0.91x
£3.5 billion ReAssure pro-forma own funds reflects positive variances during 2019
£3.5 billion ReAssure pro-forma own funds reflects positive variances during 2019
Efficient financing structure that utilises debt capacity
Efficient financing structure that utilises debt capacity
Clear governance structure with support from strategic shareholders
Clear governance structure with support from strategic shareholders
Our outstanding debt will reduce over the coming years
Our outstanding debt will reduce over the coming years
Enhanced balance sheet strength with resilience maintained
Enhanced balance sheet strength with resilience maintained
Cash generation builds holding company cash and supports dividend
Cash generation builds holding company cash and supports dividend
Beyond 2023, we will deliver a further £12.5 billion of cash generation
Beyond 2023, we will deliver a further £12.5 billion of cash generation
Conclusion
Conclusion
The acquisition of ReAssure is strategically compelling
The acquisition of ReAssure is strategically compelling
Phoenix will deliver enhanced Cash, Resilience and Growth
Phoenix will deliver enhanced Cash, Resilience and Growth
Q&A
Q&A
Q&A
Q&A
Q&A
Q&A
Q&A
Q&A
Q&A
Q&A
Q&A
Q&A
Q&A
Q&A