Sep 16, 2024 / 08:30AM GMT
Andrew Briggs - Phoenix Group Holdings PLC - Group Chief Executive Officer, Executive Director
(audio in progress) (technical difficulty) invested GBP164 million of the planned GBP700 million to grow, optimize, and enhance our business. We paid GBP250 million of debt, and are on track to invest around GBP200 million of capital into annuities this year.
This combined investment has enabled us to make good initial progress on our three strategic priorities. Firstly, we continue to invest in growing our business in the first half, where we've launched innovative new retirement income products and enhanced our annuity market propositions. We're also taking action to retain our existing customers for longer to offering our workplace customers, our retail consolidation offering, and our pensions and savings customers, our annuity offering.
Secondly, we remain laser-focused on optimizing our balance sheet. As I've already outlined, our first half debt repayment has supported progress towards our 30% Solvency II leverage ratio target. Mike Eakins, our Group CEO and his team have been investing
Half Year 2024 Phoenix Group Holdings PLC Earnings Call Transcript
Sep 16, 2024
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