HARTFORD, Conn.–(BUSINESS WIRE)–The Phoenix Companies, Inc. (NYSE: PNX) today appear that its subsidiary, Phoenix Activity Allowance Company, has entered into a reinsurance acceding placed by Nomura Reinsurance Intermediary, Inc. with its affiliated Guernsey congenital corpuscle company. The acceding provides coinsurance for about one-third of the company’s bankrupt block of accommodating activity allowance policies. Detailed agreement of the transaction were not disclosed.
The transaction enhances banking adaptability for Phoenix by abbreviation basic requirements. In addition, the aggregation expects it to accept a absolute appulse on Phoenix Activity Allowance Company’s anniversary 2011 risk-based basic arrangement of about 45 allotment points. The transaction will not affect the safety, performance, appearance or allotment abeyant of the behavior aural the bankrupt block.
Dating to 1851, The Phoenix Companies, Inc. (NYSE:PNX) provides banking solutions application activity allowance and annuities. It is headquartered in Hartford, Connecticut, and its wholly endemic subsidiary, Phoenix Activity Allowance Company, has a approved home appointment in East Greenbush, New York. For added information, appointment www.phoenixwm.com.
The afterward altercation may accommodate “forward-looking statements” aural the acceptation of the Private Balance Litigation Reform Act of 1995. We intend these advanced statements to be covered by the safe anchorage accoutrement of the federal balance laws apropos to advanced statements. These advanced statements accommodate statements apropos to trends in, or apery management’s behavior about, our approaching transactions, strategies, operations and banking results, and generally accommodate words such as “will,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” “is targeting,” “may,” “should” and added agnate words or expressions. Advanced statements are fabricated based aloft management’s accepted expectations and behavior apropos trends and approaching developments and their abeyant furnishings on us. They are not guarantees of approaching performance. Our absolute business, banking action or after-effects of operations may alter materially from those appropriate by advanced statements as a aftereffect of risks and uncertainties which include, amid others, those risks and uncertainties declared in any of our added filings with the SEC. Certain added factors which may appulse our business, banking action or after-effects of operations or which may account absolute after-effects to alter from such advanced statements are discussed or included in our alternate letters filed with the SEC and are accessible on our website at www.phoenixwm.com beneath “Investor Relations”. You are apprenticed to anxiously accede all such factors. We do not undertake or plan to amend or alter advanced statements to reflect absolute results, changes in plans, assumptions, estimates or projections, or added affairs occurring afterwards the date of this discussion, alike if such results, changes or affairs accomplish it bright that any advanced advice will not be realized. If we accomplish any approaching accessible statements or disclosures which adapt or appulse any of the advanced statements independent in or accompanying this discussion, such statements or disclosures will be accounted to adapt or abandon such statements in this discussion.
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