What Phoenix Group does depends on which Phoenix Group, but most commonly Phoenix Group Holdings plc which is large UK life insurance and pension consolidator based in London, FTSE 100 company owning Standard Life, Phoenix Life, and SunLife, does life insurance and pension management as one of UK's largest long-term savings businesses. It manages over 280 billion British pounds of assets under administration and serves around 12 million customers, focusing on two main activities, first managing closed life insurance books efficiently, which means administering existing life insurance, pension, and annuity policies that are no longer sold to new customers, collecting premiums, investing assets, and paying claims and pensions, and second selling new workplace pensions, retail savings, and retirement products through Standard Life brand. It also provides SunLife over 50s life insurance. It grows by acquiring other closed life funds like ReAssure and Standard Life Assurance. For Phoenix Holdings Ltd in Israel, it does life insurance, health insurance, property and casualty insurance, pension funds, and investment management as one of Israel's largest insurers. For US Phoenix Companies now part of Nassau Financial Group, it does life insurance and annuity products.
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