Why Standard Life May Be Selling Insurance Unit to Phoenix

The transcript discusses Standard Life's recent deal with Phoenix, highlighting its significance as the largest deal for Phoenix, a UK-based life and pension fund consolidator. The deal is described as friendly, with Standard Life Aberdeen taking a 20% stake in Phoenix and planning a capital increase to fund the deal. The conversation then shifts to the broader insurance industry, which faces challenges due to low interest rates. The potential for further consolidation in the industry is noted, with examples of past mergers and acquisitions, such as Standard Life Aberdeen's own merger and Phoenix's acquisition of Deutsche Bank's assets.

How did Standard Life Aberdeen's stake in Phoenix reflect the nature of the deal?

What does the future of consolidation in the insurance industry look like?