The provider said its “new and modern visual identity” would provide the foundation for stronger brand engagement.

The Phoenix Group has evolved from a traditional closed-book consolidator to a company with growing consumer brands.

Andy Briggs, group CEO of Phoenix Group, said: “The launch of Phoenix Group’s new visual identity is an important landmark in our journey and growth story, and reflects the evolution we are undergoing as a purpose-led business. We want to help everyone ‘secure a life of possibilities’ – that is our purpose - and I believe it’s a purpose that has never been more important.

“With an ageing population and people living longer, a savings gap for many, and the need to act sustainably, we are looking to make a difference to the things that matter most to the lives of millions of people.

“For us that means providing the right guidance and products at the right time, and helping to really engage people in their financial future. It also means taking responsible and sustainable investment decisions and using our scale and expertise to drive forward change for the better, on behalf of the 13 million customers we have across all our brands.

“The introduction of our new visual identity supports our strategy and will enable us to build our presence as a leading organisation.”

The visual rebrand will also make clearer links between the various consumer brands within the Phoenix Group, including Standard Life and SunLife, as “part of the Phoenix Group”.

It will be introduced across the company over the next few months.

Phoenix claims to be the UK’s largest long-term savings and retirement business, with £300bn of assets under administration and around 13m customers.

Phoenix’s illiquid portfolio has a strong focus on sustainable. In addition to its equity release mortgage portfolio, its illiquid portfolio comprises private placements, UK local authority loans, commercial real estate and infrastructure debt.

Phoenix has made several acquisitions over the past year.

Standard Life Aberdeen sold its Standard Life brand to Phoenix Group in February 2021 as part of a branding review of all its businesses.