At the general meeting on 25 June 2018, Standard Life Aberdeen plc shareholders voted to approve the sale of Standard Life Aberdeen’s UK and European insurance business, as part of our enhanced strategic partnership with the Phoenix Group. The transaction is subject to regulatory approval and we will be working closely with the Phoenix Group to finalise it. We expect it to complete in the third quarter of 2018.
The Standard Life brand is almost 200 years old and is one of the most recognised in the UK long-term savings industry. It has a strong reputation built on high levels of service. It will continue to evolve as it is has done many times over our 193 year history. We remain committed to supporting employers and helping you achieve your objectives.
Standard Life Aberdeen and the Phoenix Group will work together to offer market-leading solutions to employers. Each will be responsible for different aspects of the workplace business, with Standard Life Aberdeen providing investment management, brand and marketing services, and the Phoenix Group focusing on design and development, policy administration and operational support.
The Standard Life team that supports you at the moment will continue to do so when the sale is complete.
The transaction is subject to regulatory approval and we will be working closely with the Phoenix Group to finalise it. We expect it to complete in the third quarter of 2018.