LONDON--Phoenix Group Holdings (PHNX.LN) said Thursday Chairman, Howard Davies, has tendered his resignation from the board effective Aug. 31, due to the time commitment required by his impending appointment as chairman of The Royal Bank of Scotland PLC (RBS.LN).

The insurance firm said it is starting the process to recruit a new Chairman.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

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