The change, planned for March 2026, follows speculation about a new name and reflects the board’s belief that Standard Life is its most reputable brand.

Chief executive Andy Briggs stated the move demonstrates a “commitment to helping customers secure a better retirement” and is a “much more natural brand for the UK” as the company pivots towards organic growth.

The announcement coincides with a strong financial performance. The company’s adjusted operating profit surged by 25% to £451 million.

Phoenix Group also confirmed it has already achieved its £100m annual cost savings target ahead of schedule and has increased its dividend per share by 2.6%.

Looking ahead, Mr Briggs sees “real tailwinds” from political and regulatory shifts, believing the group is “uniquely positioned” to benefit. He pointed to the Financial Conduct Authority’s targeted support scheme and reforms from Chancellor Rachel Reeves’ Mansion House Speech as key opportunities. In a partnership with Schroders, the firm aims to invest up to 10% of customer funds into private assets.

However, there is nuance within the company regarding government pension reforms. While Mr Briggs supports a higher allocation to private assets for customer benefit, he acknowledges industry opposition to a new bill giving the government power to mandate asset allocation, City AM reports.

​The group’s chairman, Sir Nicholas Lyons, has been more openly critical of the Chancellor’s plans for “binding” allocations. Mr Lyons has warned against compelling pension funds to invest in specific UK assets, arguing that the private sector should be left to “make the right decisions”.