Phoenix has revealed plans to change its name to Standard Life as it looks to “bring its most trusted brand to the forefront”.

The insurance group, which has around 12 million customers and manages over £295bn in assets under administration, said it would rename the group in March next year.

It comes after Phoenix bought the Standard Life brand in May 2021, following its purchase of Standard Life Aberdeen’s insurance arm in 2018 for £3.28bn.

Half-year figures also out on Monday showed the group saw underlying operating profits jump by a quarter to £451m in the six months to 30 June.

Andy Briggs, group chief executive of Phoenix, said: “This is a strong first half performance with progress against all key financial metrics we use to drive the business, demonstrating continued momentum t

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