Annual Report and Accounts and Notice of AGM

RNS Number : 5154E

Phoenix Group Holdings

07 April 2011

 



PHOENIX GROUP HOLDINGS

2010 Annual Report and Accounts and 2011 Annual General Meeting

Phoenix Group Holdings (the "Company") has today posted to shareholders the following documents:

·     2010 Annual Report and Accounts

·     Notice of 2011 Annual General Meeting

·     Form of Proxy and Form of Instruction for the 2011 Annual General Meeting

In accordance with Listing Rule 9.6.1, a copy of each of these documents has been submitted to the UK Listing Authority via the National Storage Mechanism and will shortly be available for viewing at http://www.hemscott.com/nsm.do.

Copies of these documents will also be available later today on the Company's website at http://www.thephoenixgroup.com/investor-relations.aspx.

The Company's Annual General Meeting will be held at 32 Commercial Street, St Helier, Jersey JE2 3RU on Friday 13 May 2011 at 1.00pm.

The information below, which is extracted from the 2010 Annual Report, is included solely for the purpose of complying with DTR 6.3.5. It should be read in conjunction with the Company's 2010 results announcement issued on 29 March 2011 which is available at http://www.thephoenixgroup.com/investor-relations.aspx. Together these constitute the material required by DTR 6.3.5 to be communicated to the media in unedited full text through a Regulatory Information Service. This material is not a substitute for reading the full 2010 Annual Report and Accounts.

Enquiries:-

Media                                                                         Investor Relations                                                   

Daniel Godfrey                                                            Lorraine Rees

+ 44 (0) 20 7489 4517                                                + 44 (0) 20 7489 4456

+ 44 (0) 7894 937 890                                                + 44 (0) 7872 413277

Unedited Extracts from the Annual Report and Accounts for the year ended 31 December 2010

STATEMENT OF DIRECTORS' RESPONSIBILITIES

Board Responsibility Statement according to section 5:25c(2)(c) of the Dutch Financial Markets Supervision Act.

The Board of Directors of Phoenix Group Holdings hereby declares that, to the best of its knowledge:

1.         The IFRS financial statements for the year ended 31 December 2010 give a true and fair view of  the assets, liabilities, financial position and results of Phoenix Group Holdings and its consolidated subsidiaries taken as a whole;

2.         The Annual Report gives a true and fair view of the state of affairs of Phoenix Group Holdings and its consolidated subsidiaries as at 31 December 2010 and their development in the financial year to which the Annual Report and Accounts relate; and

3.         That the Annual Report describes the principal risks facing Phoenix Group Holdings.

Forward-Looking Statements

This announcement in relation to Phoenix Group Holdings and its subsidiaries (the 'Group') contains, and we may make other statements (verbal or otherwise) containing, forward-looking statements about the Group's current plans, goals and expectations relating to future financial conditions, performance, results, strategy and/or objectives.

Statements containing the words: 'believes', 'intends', 'expects', 'plans', 'seeks', 'targets', 'continues' and 'anticipates' or other words of similar meaning are forward-looking.  Forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that are beyond the Group's control. For example, certain insurance risk disclosures are dependent on the Group's choices about assumptions and models, which by their nature are estimates. As such, actual future gains and losses could differ materially from those that we have estimated.

Other factors which could cause actual results to differ materially from those estimated by forward-looking statements include but are not limited to:  domestic and global economic and business conditions; asset prices; market related risks such as fluctuations in interest rates and exchange rates, and the performance of financial markets generally; the policies and actions of governmental and/or regulatory authorities, including, for example, new government initiatives related to the financial crisis and the effect of the European Union's "Solvency II" requirements on the Group's capital maintenance requirements; the impact of inflation and deflation; market competition; changes in assumptions in pricing and reserving for insurance business (particularly with regard to mortality and morbidity trends, gender pricing and lapse rates); the timing, impact and other uncertainties of future acquisitions or combinations within relevant industries; risks associated with arrangements with third parties, including joint ventures; inability of reinsurers to meet obligations or unavailability of reinsurance coverage; the impact of changes in capital, solvency or accounting standards, and tax and other legislation and regulations in the jurisdictions in which members of the Group operate.

As a result, the Group's actual future financial condition, performance and results may differ materially from the plans, goals and expectations set out in the forward-looking statements within this announcement. The Group undertakes no obligation to update any of the forward-looking statements contained within this announcement or any other forward-looking statements it may make.  Nothing in this announcement should be construed as a profit forecast.

 

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ACSUBSURANASRAR