Hartford, Conn., Nov. 10, 2015 – The Phoenix Companies, Inc. (NYSE:PNX) today announced that Justin Banulski, CPA, has joined the company as vice president of investment accounting. He will lead the team that provides oversight and control for financial operations and all accounting and reporting activities for Phoenix’s investment portfolio. He reports to Ernest McNeill, senior vice president and chief accounting officer.
Hartford, Conn., Nov. 9, 2015– The Phoenix Companies, Inc. (NYSE:PNX) (“Phoenix”) today announced financial results for the third quarter of 2015 and filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 with the U.S. Securities and Exchange Commission (“SEC”).
“The previously announced transaction with Nassau is progressing and remains on track to close in early 2016. At the same time, we continue to manage the business for sustainable growth over the long term,” said James D. Wehr, president and chief executive officer.
Hartford, Conn., Oct. 27, 2015 – The Phoenix Companies, Inc. (NYSE: PNX) today announced that the Board of Directors of Phoenix Life Insurance Company voted to adjust the policy dividend scale effective January 1, 2016 for policies in the closed block of business. The changes include both positive and negative mortality adjustments and a 15 bps (0.15%) decrease in the dividend interest rate.
As a result of this change, most policyholders will see an increase in their dividend payments in 2016, although some will see a decrease. The impact on a specific policy will vary based on a number of factors, including product type, age at issue, length of time the policy has been in force, gender, and health when the policy was issued.
HARTFORD, Conn., Oct. 20, 2015 – A majority of financial professionals identified retirement income distribution planning as a key goal for pre-retirees and recent retirees but may be overlooking an opportunity to help them meet that goal, according to a recent survey by Saybrus Partners, Inc.
The survey found that nearly two thirds (65 percent) of financial professionals identified “retirement income distribution planning” as the biggest goal for clients in their 50s and 60s. The survey polled financial professionals at the 2015 FPA Annual conference held in Boston, Sept. 26-27.
NEW YORK and HARTFORD, Conn., Sept. 29, 2015 – Nassau Reinsurance Group Holdings L.P. (“Nassau”) and The Phoenix Companies, Inc. (NYSE: PNX) (“Phoenix”) today announced that they have entered into a definitive agreement in which Nassau will acquire Phoenix for $37.50 per share in cash, or aggregate equity purchase price of $217.2 million. The purchase price represents a 188% premium over Phoenix’s closing stock price of $13.03 on Sept. 28, 2015.