Phoenix life insurance

Phoenix Group, Standard Life Aberdeen announce simplification agreement, Insurance Business UK

Phoenix Group Holdings Plc and Standard Life Aberdeen Plc (SLA) – whose relationship was deepened following Phoenix’s swoop for Standard Life Assurance Ltd (SLAL) in 2018 – have entered into a new binding agreement aimed at simplification. “While the insurance sale allowed Standard Life Aberdeen to streamline its own operations, it also created a complex network of commercial and operational services between the groups, including in respect of certain pensions and savings products and the shared use of the ‘Standard Life’ brand,” explained SLA in a release. To simplify things, Phoenix, in its own announcement, said they have agreed the following:...

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British life insurer Phoenix seeks more deals after Sun Life UK buy, Reuters

LONDON, Aug 4 (Reuters) - Phoenix (PHNX.L) has bought closed life insurer Sun Life of Canada's UK unit for 248 million pounds ($301 million) in cash, it said on Thursday and its chief executive said the insurer had more than one billion pounds to spend on similar deals. Phoenix specialises in buying and operating books of life insurance businesses which are closed to new customers. Closed life insurance specialists like Britain's Phoenix say they can use economies of scale to run such books more cheaply. "We have over a billion pounds of remaining firepower as of the year-end," CEO Andy Briggs told Reuters by phone. "We would still be interested in larger-scale M&A, but...

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Phoenix Completes De-stacking of Insurance Company Subsidiaries, Business Wire

HARTFORD, Conn.--( BUSINESS WIRE )--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”). The de-stacking was completed through an extraordinary dividend of PHL Variable, APLAR and PLAC from PLIC to Phoenix, effective July 1, 2015 and based on the June 30, 2015...

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How to get to Phoenix Life Insurance by Bus or Light Rail?

Bus stations near Phoenix Life Insurance Light Rail stations near Phoenix Life Insurance Bus lines to Phoenix Life Insurance What are the closest stations to Phoenix Life Insurance? The closest stations to Phoenix Life Insurance are: Thomas Rd & 28th St is 538 yards away, 7 min walk. 24th St & Virginia Av is 843 yards away, 11 min walk. 38th St/Washington is 3288 yards away, 39 min walk. Which Bus lines stop near Phoenix Life Insurance? These Bus lines stop near Phoenix Life Insurance: 29, 70. How far is the bus stop from Phoenix Life Insurance? The nearest bus stop to Phoenix Life Insurance is a 7 min walk away. What’s the nearest bus stop to Phoenix Life Insurance? The Thomas Rd...

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Phoenix Life's slow-coach approach hits income security plan, Life insurance, The Guardian

I have a policy with Phoenix Life called an Income Security Plan (also referred to as Dynamic Permanent Health Insurance), taken out in March 2001. It was through Halifax, but with Royal and Sun Alliance, now part of Phoenix Life. The policy pays out if and when the holder of the policy "is totally incapacitated by accident or illness from following the occupation he was engaged in immediately prior to the incapacity and is not gainfully following any other occupation". In May 2011 I was declared not fit for work by my GP and this remains the case. My terms of employment mean I go down to zero pay after one year, and before that half pay after six months of being off sick. I am now on zero...

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Axa sells UK businesses including SunLife to insurer Phoenix, Axa, The Guardian

France’s Axa has sold its UK investment, pensions and insurance businesses, including SunLife, to UK insurer Phoenix in a £375m deal. The deal will transfer £12.3bn of assets under management and more than 910,000 policies to Phoenix. The sale includes the pension and investment businesses Embassy and SunLife, which offer life cover to the over-50s. The Bristol-based SunLife has been part of the French insurance giant since 1996. Clive Bannister, chief executive of Phoenix, said the acquisition of the Embassy and SunLife businesses was another important step forward in the firm’s growth strategy. Phoenix specialises in buying life assurance businesses that are closed to new customers....

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Phoenix Life Insurance Company Maintains Policy Dividend Scales for 2014, Business Wire

HARTFORD, Conn.--( BUSINESS WIRE )--The Phoenix Companies, Inc. (NYSE: PNX) today announced that the board of directors of Phoenix Life Insurance Company voted to maintain the current policy dividend scales effective January 1, 2014 for policies in the closed block of business. “Our decision reflects solid performance of the closed block, which had claim experience within expectations and benefited from the recent rise in interest rates,” said James D. Wehr, president and chief executive officer. “Phoenix has maintained a competitive dividend track record since we demutualized in 2001 despite long periods of interest rate and other market environment challenges. These dividends add...

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Insurance - Phoenix Financial Services

Life assurance is a simple product designed to provide a lump sum or monthly income payment on death. It is designed to provide your dependants with financial security on your death and ensure that they are not left with a shortfall in income. It can also be used to protect mortgage and loans to ensure they are not passed on to your estate. When did you last review your life insurance? Are you paying too much for your existing life insurance policies? How would your spouse/partner/dependants cope if you were to die tomorrow/next week/ next month? – have you cover in place? Have you any loans that are not covered by a life policy? Is your business sufficiently covered for loans/ death of a...

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MetLife reinsures $2.4bn of pension longevity risk for Phoenix Group -

MetLife, Inc., one of the largest life and annuities insurance groups in the world, has provided reinsurance to cover $2.4 billion of pension fund related longevity risk for European pension and life consolidator Phoenix Group. The $2.4 billion of longevity risk was transferred through two reinsurance arrangements to Metlife, which used its Metropolitan Tower Life Insurance Company subsidiary to enter into the arrangements. “We are pleased to have completed our first two longevity reinsurance transactions with Phoenix and to support Phoenix in its U.K. pension de-risking activity,” explained Jay Wang, senior vice president and head of Risk Solutions for MetLife’s Retirement & Income...

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Dividend Policyholders Bring Class Action against Phoenix Life Insurance Co and Phoenix Cos - Levy Konigsberg

A CLASS ACTION HAS BEEN FILED BY DIVIDEND POLICYHOLDERS AGAINST THE PHOENIX LIFE INSURANCE CO AND THE PHOENIX COS CLAIMING BREACHES OF THE COMPANIES’ STATUTORY AND CONTRACTUAL DUTIES WHEN THE DIVIDENDS WERE REDUCED IN ORDER TO ENRICH THE STOCKHOLDERS OF THE INSURERS’ PARENT COMPANY. NEW YORK, New York, December 21, 2009 – Class action attorneys at Levy Konigsberg LLP have filed a nationwide class action lawsuit against The Phoenix Life Insurance Co. and The Phoenix Cos. on behalf of three dividend policy holders who claim the companies illegally diverted $55 million in dividends from the policyholders each year since 2006. The plaintiffs are policyholders who own their...

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