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Demutualization Steps
Board authorizes development of plan.

Once regulatory agencies' comments are addressed, plan is presented to Board for adoption.

Phoenix submits its final demutualization plan to the New York State Insurance Department for review and approval.

Informational materials and ballots are mailed to policyholders.

The New York State Superintendent of Insurance holds a public hearing to allow all interested parties to comment on the demutualization plan.

Eligible policyholders have the opportunity to vote on the plan.

Following final review of Phoenix's demutualization plan, The New York State Superintendent of Insurance issues an order approving the plan.

The final registration statement is filed with the Securities and Exchange Commission.

Common stock is issued in an Initial Public Offering (IPO), and shares begin trading on the New York Stock Exchange. Shortly thereafter, the demutualization plan becomes effective.

Eligible policyholders receive compensation as detailed in the company's demutualization plan.

©2001-2016 The Phoenix Companies, Inc.

Insurance and annuities issued by Phoenix Life Insurance Company (PLIC) (East Greenbush, NY), PHL Variable Insurance Company (PHLVIC) (Hartford, CT) and Phoenix Life and Annuity Company (PLAC) (Hartford, CT). PHLVIC is not authorized to conduct business in NY and ME. PLAC is not authorized to conduct business in CA, GA, MA, ME, MN, NH, and NY and not authorized to conduct variable universal life insurance business in ID and LA. The insurers referenced are separate entities and each is responsible only for its own financial condition and contractual obligations.

Securities distributed by 1851 Securities, Inc. (Hartford, CT), member FINRA.

Members of The Phoenix Companies, Inc.

Not all products and services described here are available in all states of the USA.