Phoenix raises tar­gets as it keeps gen­er­at­ing cash

The Daily Telegraph - Business - - Business -

Phoenix, the FTSE 100 in­sur­ance firm, raised its cash gen­er­a­tion tar­get for the year from £700m-£800m to more than £1.5bn af­ter a strong first half and the com­ple­tion of its £3.2bn takeover of its ri­val Re­As­sure from Swiss Re last month. The com­pany gen­er­ated £433m of cash in the first half, up from £287m a year ear­lier. Op­er­at­ing profit rose £36m to £361m.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.