UK's Phoenix Group sets new long-term cash flow target

March 23, 2016 7:36 AM

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March 23 Phoenix Group Holdings, Britain's largest owner of life assurance funds closed to new customers, unveiled a new cash flow target of 2 billion pounds ($2.83 billion) for 2016-2020, factoring in the maturity of a revised bank facility.

The life insurer posted cash generation from operating companies of 225 million pounds ($319 million) in 2015, meeting its target of 200-250 million pounds.

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