Standard Life Aberdeen falls despite £1.7bn shareholder payout
Standard Life Aberdeen’s (SLA) share price plummeted after the firm announced plans to return £1.7bn to shareholders following the sale of its insurance arm to Phoenix Group.
Phoenix top as FCA complaints hit 3.8 million
Consolidator The Phoenix Group featured heavily in data from the Financial Conduct Authority that shows complaints about all financial services firms rose by 13% in the second half of 2017, driven by payment protection insurance (PPI) claims.
Phoenix £6bn offshore bond grab opens market to last players
The acquisition of Standard Life Aberdeen’s UK and European insurance arm will net closed book insurer Phoenix Group around £6bn in offshore bonds, the company has confirmed.