Phoenix Group has confirmed that it will rebrand to Standard Life in March 2026, returning to the name of the company it acquired in 2018.

The company had previously indicated in May that it had taken steps to enable a name change, with suggestions it could occur within a year. Though, the rebrand was only formally confirmed in its half-year results.

The name change is intended to put the trusted Standard Life brand at the centre of the business, highlighting Phoenix Group’s commitment to helping customers achieve a secure retirement and supporting its vision to become the UK’s leading retirement savings and income provider.

Phoenix Group CEO, Andy Briggs, said: “We are particularly pleased to announce today that our name will be changing to Standard Life plc.

"This brings our most trusted brand to the forefront and demonstrates our commitment to helping customers secure a better retirement. It reflects our vision to become the UK’s leading retirement savings and income business and really demonstrates the way the business has transformed and evolved in the last five years.”

In particular, he pointed out that the group is "well on track" to deliver all of its financial targets, having achieved £2.8bn of net inflows in workplace in H1, while its retirement solutions business, where it expects to deploy up to c.£200m of capital into annuities in 2025, is "operating well and has a solid pipeline for H2".

"Having re-entered this competitive market in late 2023 we delivered individual annuity sales of £0.6bn in this period," he continued.

"We have also completed and are exclusive on £3.2bn of bulk purchase annuity (BPA) volumes year to date, with our largest ever BPA deal of £1.9bn subsequently completing in July."

The results also revealed that Phoenix Group has made headway on its strategic goal of better serving existing customers and attracting new ones through enhanced engagement tools.

Notably, the company has secured approval from the Financial Conduct Authority (FCA) for its in-house retail advice proposition, a key milestone that paves the way for its upcoming launch.

Additionally, it has introduced an annuity desk for Standard Life customers to support a more seamless digital experience.

Phoenix Group also further developed its product offerings to better serve existing customers and attract new ones with the launch of its guaranteed lifetime Income plan, which completes its portfolio of innovative retirement income solutions.

The company has also enhanced its BPA solutions through longevity insurance novations, which aim to strengthen the appeal of its BPA proposition to customers.

Phoenix Group has also met its strategic goal of optimising its in-force business and balance sheet by shifting the management of its annuity-back assets predominantly in-house.

By leveraging its scaled asset management capabilities, the company aims to improve customer outcomes and enhance returns.

Currently, Phoenix Group manages £5bn of its £39bn annuity portfolio internally and is preparing to bring approximately a further £20bn in-house. This approach is designed to support recurring management actions while delivering cost savings.

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