Standard Life is coming back as a name on the London Stock Exchange after Phoenix Group announced it is adopting the brand it acquired seven years ago.

The Phoenix board says Standard Life is its “most trusted brand” and the change will take place next March when it reports full year figures.

The decision follows speculation in May and marks a remarkable turn of fate for the 200-year-old brand.

The original company merged with Aberdeen Asset Management in 2017 only to be sold to FTSE 100 savings group Phoenix by its then CEO Stephen Bird as part of a restructure of the business. It saw the Standard Life business and staff return to the offices in Lothian Road, Edinburgh, while the old business was renamed Abrdn and then Aberdeen Group.

Phoenix, which has a stock market value of about £6bn, made the announcement alongside strong half-year figures. Adjusted operating profit came in 25% higher at £451 million. Average assets under administration rose 5% to £187.9bn.

However, total cash generation, a key gauge of future profits, fell 17% to £784m from £950m in the same period last year.

Its cumulative cost savings increased to £100m with FY2025 expectations of c.£160m, reflecting a £35m acceleration.

It declared an interim dividend of 27.35 pence per share. Shares in the company closed 7.6%, or 51p, lower at 619p.

Chief executive Andy Briggs said: “This is a strong first half performance with progress against all key financial metrics we use to drive the business, demonstrating  continued momentum towards our 2026 targets.

“We are increasingly well placed to serve our customers’ retirement needs and create further customer and shareholder value as we fulfil our vision to become the UK’s leading retirement savings and income business.

“We’ve strengthened our balance sheet and continued to invest in our market-leading Pensions and Savings and Retirement Solutions businesses.

“Our strategic delivery includes moving ahead with our advice proposition and in-housing the management of annuity-backing assets to benefit from our scaled asset management capabilities. We support c.12 million customers in managing over £295 billion in assets under administration.

“Changing our name from Phoenix Group Holdings plc to Standard Life plc in March 2026 brings our most trusted brand to the forefront and demonstrates our commitment to helping customers secure a better retirement.”

The company said it is firmly on track to deliver all its financial targets which support its progressive and sustainable dividend policy.

Nick Sherrard, managing director of branding consultancy Label Sessions, said: “The transition of Phoenix into Standard Life has been the worst-kept secret in the industry.

“The original move to acquire the Standard Life brand from what is now Aberdeen, though, looks like an incredible bargain. Or, to put it another way, the Standard Life brand name was a massively undervalued asset.  

“Brand recognition and trust are both very hard and hugely expensive for a company to build, but Phoenix has managed to become Standard Life simply and inexpensively.

“The new owners will reap the rewards of years of investment made by shareholders of Aberdeen and there are lots of possibilities for the new Standard Life in the future.

“The defenestration of the brand that was Standard Life and is now Aberdeen is going to be a business school case study for many years to come.

“Aberdeen is left with big brand issues that it will need to face into fast. Naming is an area that is absolutely key to a brand’s success, but leadership teams are often much more comfortable talking about visual design. Hopefully all that has happened in the various homes of Standard Life will show leaders the risk of that.”