Phoenix Group plans to sell SunLife business, as it no longer aligns with core operations.

Phoenix Group, a UK insurance and pensions firm, announced on Wednesday its plans to offload the SunLife business, as it no longer aligns with its core operations. SunLife, a leading UK provider of financial protection products for over 50s, reported a profit of £16m in 2023. Phoenix has received initial expressions of interest from third parties, but there's no certainty that a sale will occur.