Annual Report and Accounts

The report covers Phoenix Group Holdings' 2009 transition after acquiring the Pearl businesses, which completed on 2 September. It reports pro forma UK holding-company cash inflows of £716 million and Group MCEV of £1,827 million. Its corporate-responsibility programme focused on material non-financial risks, while a first employee engagement survey recorded a 60 percent Engagement Index. The report also describes workplace, customer, community and environmental activities, including recycling facilities at UK sites.