Phoenix long-term business cash flow rises to £1.2bn

Phoenix Group's incremental new business long-term cash generation increased to £1.2bn in 2022, according to its full-year results.  The company's results, published today (13 March) on the London Stock Exchange, revealed £934m of its new long-term cash generation came from its Standard Life retirement solutions business, while £299m came from its capital-light fee based businesses. Phoenix confirmed the company's in-force long-term free cash increased to £12.1bn, compared to £11.8bn in 2021, which it said would be released over time to ensure the growing dividend remains sustainable ...