Hartford, Conn., Aug. 28, 2015 – The Phoenix Companies, Inc. (NYSE: PNX) (“Phoenix”) reported that Standard & Poor’s (“S&P”) affirmed Phoenix’s long-term counterparty credit rating and the financial strength ratings of Phoenix Life Insurance Company and PHL Variable Insurance Company. Further, S&P assigned Phoenix a stable outlook. S&P removed the CreditWatches it placed on Phoenix and its insurance company subsidiaries on July 9, 2015.
In response to the S&P action, Phoenix issued the following statement: “Today’s action by S&P reflects Phoenix’s improved financial profile and capital position. S&P recognized the benefit of the intercompany reinsurance treaty and de-stacking of our insurance company subsidiaries in enhancing our capital position and improving liquidity. The company remains committed to further strengthening its financial profile.”
Hartford, Conn., Aug. 10, 2015 – The Phoenix Companies, Inc. (NYSE:PNX) (“Phoenix”) today announced financial results for the second quarter of 2015 and filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 with the U.S. Securities and Exchange Commission (“SEC”).
“Phoenix’s second quarter results were mixed, characterized by a GAAP net loss, a significant increase in statutory capital and improvement in new business metrics,” said James D. Wehr, president and chief executive officer.
Hartford, Conn., Aug. 3, 2015 – The Phoenix Companies, Inc. (NYSE: PNX) expects to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 and issue a news release on second quarter 2015 financial results after the market closes on Monday, Aug. 10, 2015. The company has scheduled an investor conference call on Tuesday, Aug. 11, 2015 at 11 a.m. EDT to discuss second quarter 2015 results and other matters, and it will file a financial supplement and presentation materials prior to the conference call.
Hartford, Conn., July 29, 2015 –The Phoenix Companies, Inc. (NYSE: PNX) (“Phoenix”) today announced that it completed the previously disclosed de-stacking of its insurance company subsidiaries, which are now all direct subsidiaries of Phoenix. Prior to the de-stacking, Phoenix Life Insurance Company (“PLIC”), a direct subsidiary of Phoenix, was the indirect parent of PHL Variable Insurance Company (“PHL Variable”), American Phoenix Life and Reassurance Company (“APLAR”) and Phoenix Life and Annuity Company (“PLAC”).
Hartford, Conn., July 16, 2015 –The Phoenix Companies, Inc. (NYSE: PNX) today announced the election of Andrew J. McMahon to its Board of Directors, effective today.
“Andrew has extensive management, governance and sales leadership experience in the insurance and financial services industry,” said John H. Forsgren, Phoenix’s chairman of the Board. “He has a deep understanding of strategy as well as finance and will be a strong asset to the Phoenix Board.”