Phoenix Financial Strength

Strength and Stability

Keeping our promises since 1851

Phoenix is headquartered in Hartford, Connecticut, and has two primary insurance company operating subsidiaries, Phoenix Life Insurance Company (PLIC) and PHL Variable Insurance Company (PHLVIC). In 2016, Phoenix became a wholly owned subsidiary of Nassau Re and serves as its U.S. life and annuity platform. Nassau Re has contributed significant new equity capital that improved Phoenix’s financial strength and liquidity.

  • $81.6 B Gross Life Insurance In Force
  • $5.3 B Annuity Funds Under Management
  • 365,000 Policies and Contracts
  • 18,900 Independent Producers
As of December 31, 2017 and includes the combined results of all insurance entities.
Trading Floor

Rapid changes in the global markets and economy pose many challenges for individuals trying to plan for the future on their own. Our investment management team maintains a strong and well-diversified portfolio backing insurance claims and securing reliable retirement income.


$15.9 B Total GAAP Invested Assets

Phoenix’s investment portfolio is well diversified and liquid with below investment grade bonds remaining within the company’s target range of 6-10%, bond impairments below long-term averages and significant unrealized gains.

Category Allocation
Bonds 75%
Policy loans 15%
Limited partnerships & other investments 4%
Cash & cash equivalents 2%
Available-for-sale equity securities 1%
Mortgage Loans 1%
Other 1%
Short-term investments <1%
Derivative instruments <1%
Fair value investments <1%
$18.5 B

Statutory

Assets

$17.9B

Statutory Reserves &

Other Liabilities

$770.5M

Statutory Surplus &

Asset Valuation Reserve

103.4%

Solvency

Ratio

As of March 31, 2018 and includes the combined results of all insurance entities.

Ratings

A.M. Best affirmed its ratings of our life insurance subsidiaries and maintained a stable outlook on March 29, 2018. A.M. Best said it expects a general improvement in our operating performance over the medium-term.

S&P upgraded PLIC’s™ and PHL Variable’s™ ratings to BB on August 25, 2017 and assigned a stable outlook. These actions reflect a favorable view of the progress Phoenix has made on our business and financial plans.

A.M. Best S&P
Rating B BB
Outlook Stable Stable
Most Recent Action March 29, 2018 August 25, 2017
Ranking 7th of 14 ratings levels 12th of 22 ratings levels

These company ratings apply to Phoenix Life Insurance Company and PHL Variable Insurance Company. In some cases these ratings apply to our other life insurance subsidiaries. Ratings are a third-party measure of an insurer's claims-paying ability. They do not indicate or guarantee any Phoenix Variable Annuity or Phoenix Variable Universal portfolio's credit rating or performance.

Statutory Statements

Phoenix Life Insurance Company

  PLIC 2018 Q1

  PLIC 2017

  PLIC 2016

  PLIC 2015

PHL Variable Insurance Company

  PHLVIC 2018 Q1

  PHLVIC 2017

  PHLVIC 2016

  PHLVIC 2015

Phoenix Life and Annuity Company

  PLAC 2018 Q1

  PLAC 2017

  PLAC 2016

  PLAC 2015