Insurer joins finance trade body after SLA buy-out

Phoenix Group has joined industry body Scottish Financial Enterprise following its acquisition of Standard Life Aberdeen’s UK and European insurance business last month.

Around 3,500 employees have been transferred to the specialist insurer as part of its acquisition of Standard Life Assurance, including 2,900 staff based in Edinburgh and a further 30 workers in Glasgow, making the group one of Scotland’s largest employers.

Phoenix Group director for Scotland Jim Mcconville said: “[We] look forward to engaging with colleagues in the financial community here in Scotland and to working together to help our sector continue to prosper.”