# Phoenix Life

Phoenix Life is an Insurance based in London, United Kingdom.

## Overview

- **Organization type:** Insurance
- **Headquarters:** London, United Kingdom
- **Region:** Europe
- **Address:** London, United Kingdom
- **Assets under management:** Undisclosed
- **Website:** thephoenixgroup.com
- **LinkedIn:** https://www.linkedin.com/company/phoenix-life-limited

## Regulatory record

- **Reports private funds:** No

## About

Phoenix Life is a UK-based life insurance company founded in 1961. It operates a life and pension policy management business. The company was previously known as Abbey Life.

## Sectors

- Real Estate
- Infrastructure

## Offices

- Hartford, CT, United States

## People

- Martin E. Franklin — Business Partner (former SPAC sponsor)

## Questions

### How is Phoenix Life structured within Phoenix Group?

Phoenix Life is a principal regulated subsidiary of Phoenix Group Holdings plc, the FTSE 250-listed insurance consolidator. It houses the closed-book life and pension portfolios acquired through transactions such as the Standard Life Assurance acquisition in 2018. The structure keeps legacy policyholder liabilities ring-fenced within regulated entities, while the parent group manages capital allocation, acquisitions, and shareholder returns.

### Does Phoenix Life write new insurance policies?

Phoenix Life primarily manages existing books in runoff rather than writing new protection or savings business at scale. Its strategy centers on acquiring closed blocks of annuities and life policies from sellers exiting the UK market, then managing those policies through to maturity or transfer. This makes it fundamentally different from active underwriters like Aviva or Legal & General.

### What real assets does Phoenix Life hold directly?

Phoenix Life's direct property holdings include the Wembley Park residential development in North London, a UK commercial ground rent portfolio delivering long-dated income streams, and One American Row—a commercial building in Hartford, Connecticut, reflecting legacy US insurance operations. These assets sit alongside fixed-income and infrastructure debt instruments matching annuity liabilities.

### How does Solvency II regulation affect Phoenix Life's investment approach?

As a UK-regulated insurer, Phoenix Life operates under Solvency II capital requirements that impose risk margin calculations and matching adjustment mechanisms on its asset-liability management. This regulatory framework pushes the firm toward duration-matched, predictable-income assets such as ground rents, long-lease property, and high-quality fixed income—constraining risk appetite compared to unregulated family offices or asset managers.

### Who makes investment decisions for Phoenix Life's balance sheet?

Investment decisions are made by the internal asset management and treasury teams within Phoenix Group, supervised by the board of the regulated insurance entity. The firm does not use an external outsourced CIO structure; its scale (£300 billion in assets under administration across the group in 2023, per Phoenix Group disclosures) supports an in-house investment function that manages direct property, credit, and fixed-income allocations in alignment with liability profiles.

## Related profiles

- [Phoenix IEC Central Pension Fund](https://altss.com/profile/phoenix-iec-central-pension-fund)
- [Phoenix Wealth](https://altss.com/profile/phoenix-wealth)

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Last updated: 2026-06-03T20:00:00.000Z

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