Q and A: Connecticut regulators discuss PHL Variable rehab efforts

December 26, 2024 by John Hilton

It isn’t often that life insurance companies fall into financial trouble. But when they do, the regulatory rehabilitation process is often prolonged and accompanied by infrequent updates.

Connecticut Insurance Department regulators are busy wrangling a tough case with PHL Variable Insurance Co. PHL and its subsidiaries, Concord Re, Inc., and Palisado Re, Inc., were placed into rehabilitation May 20 by a state superior court judge after several financial setbacks.

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Originally Posted at InsuranceNewsNet on December 19, 2024 by John Hilton.