Captain Phillips and the Princess Royal, photographed on their horses at a 1985 equestrian event. The couple separated in 1989 and, eventually, divorced in 1992 after years of marital strain. That year, Princess Anne remarried to Commander Timothy Laurence, with whom she had been involved for years.

Anne married Captain Mark Phillips in 1973; they separated in 1989 and divorced in 1992. They have two children, Peter Phillips and Zara Tindall, and five grandchildren.

Princess Anne received promotions to the rank of General in the Army and to Air Chief Marshal in the RAF. It brought the Princess Royal's Army and RAF ranks in line with the rank of Admiral she holds within the Royal Navy, following the long-standing convention of military promotions for members of the Royal Family.

In her later years, The Princess Margaret suffered poor health, experiencing a mild stroke on 23 February 1998 whilst at her holiday home in Mustique. Twelve months later, The Princess severely scalded her feet in a bathroom accident.