Phoenix completed the acquisition of Standard Life Aberdeen’s UK and European life business for £2.9bn.

Phoenix Group completed the acquisition of Standard Life Assurance and Strategic Partnership from Standard Life Aberdeen for £2.9bn. This acquisition is fully aligned with Phoenix’s existing UK product mix – delivers increased scale and efficiency. "This is a momentous day for Standard Life Aberdeen as we continue to build a world-class investment company. Corporate transformations of this scale require clear vision and huge commitment from all those involved. Maintaining continuity of service and enhancing optionality for all our customers and clients has been a key imperative. My very best wishes for the future to all our employees and customers who are transferring to Phoenix". Sir Gerry Grimstone, Standard Life Assurance Chairman.