Savings and retirement giant Phoenix Group will rebrand to Standard Life in March next year, it has announced.
The move sees the group name changing, adopting a “branded house” strategy, in which the master brand Standard Life will own several sub brands.
The existing Phoenix Life, ReAssure and SunLife brands will continue to operate unchanged.
Phoenix said the move would allow it to focus all of its equity behind one brand. The move reflects the firm’s recognition that Standard Life is its “most trusted” brand.
The company said in a statement: “This approach provides a consistent brand image; creates clarity; unifies our culture; and concentrates investment behind a single, recognisable brand.”
The business has largely grown through acquisitions, including Standard Life Assurance in 2018, ReAssure in 2020 and Sun Life UK in 2022. Towards the end of last year, the firm announced it was making major changes to its marketing department, creating a more centralised function under the leadership of Ben Rhodes in the newly created role of Group Brand & Marketing Director.
Since 2021, Phoenix has been transforming into a purpose-led business at the corporate level. The firm had been using a master brand with endorsement architecture, which it launched in 2022, through which it emphasises that sub-brands like Standard Life are part of the Phoenix Group.
