Phoenix Group Holdings PLC on Monday introduced a big improve in working revenue for 2020 and mentioned it was nicely positioned to benefit from key business development drivers.

Europe’s largest life insurance coverage and pension consolidator reported working revenue – a key business metric – of £ 1.20bn ($ 1.66bn) from £ 810m sterling a 12 months earlier.

Belongings beneath administration on the finish of the 12 months grew to 338 billion GBP, in comparison with 248 billion GBP on the finish of 2019.

The shareholder capital protection ratio of listed firm FTSE 100 stood at 164%, he mentioned.

The board declared a remaining dividend of 24.1 pence per share, or an annual dividend of 47.5 pence per share in comparison with 46.8 pence for 2019.

“Attaining our open enterprise development aspirations will convey elevated long-term sustainability to the group’s natural money era and likewise has the potential to help future dividend development,” mentioned Phoenix Group.

Write to Sabela Ojea at [email protected]; @sabelaojeaguix

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