Phoenix Group is weighing a rebrand to Standard Life, the heritage name it acquired in 2021.
The FTSE 100 pensions giant has changed its corporate rules to give its board the authority to rename the company without requiring shareholder approval.
A formal announcement is expected later this year, according to sources cited by Sky News.
A Phoenix Group spokesperson told Money Marketing: “Our brand strategy must support our business strategy, and this is kept under review. Standard Life is a strong brand with 200 years of history and is the brand we are using to grow our business across three markets.
“You may have seen at our recent AGM we changed our articles of association to allow us to rebrand with board approval, rather than shareholder approval. This board approval hasn’t happened.”
Phoenix acquired the Standard Life brand from Aberdeen in 2021 as part of a broader strategy to consolidate and strengthen its position in the retirement and savings market.
The potential rebrand comes amid strong commercial momentum under the Standard Life banner.
In its interim results published in March, Phoenix reported that Standard Life had captured a 12% share of the individual annuities market since re-entering the space in 2023.
The firm wrote £1bn in individual annuity premiums in 2024, up from £600m in 2023.
Phoenix said the growth reflects a “fundamental customer need” for guaranteed retirement income.
Phoenix Group currently has a market value of over £6.2bn and remains one of the UK’s largest long-term savings and retirement businesses.
