British insurer Phoenix Group raised its full-year cash generation forecast on Monday, after it completed the funds merger of its Standard Life and Phoenix Life businesses into Phoenix Life Ltd, uniting the businesses of four entities.

The merger resulted in a one-off increase to the group's cash generation target for the year to about 1.8 billion pounds ($2.20 billion), from 1.3 billion pounds to 1.4 billion pounds. ($1 = 0.8171 pounds) (Reporting by Radhika Anilkumar in Bengaluru; Editing by Savio D'Souza)