State to decide on potential buyer for PHL Variable policies by Dec. 31
December 4, 2025 by John Hilton
Several companies are competing to take over or reinsure all or parts of the troubled PHL Variable Insurance Co. business, and the Connecticut Department of Insurance said it will decide which proposal to pursue by the end of 2025.
Five companies submitted proposals of interest: three whole company proposals and two partial company bids. In addition, one party not previously engaged submitted an initial indication of interest proposing a whole company transaction, said Insurance Commissioner Andrew Mais in his Nov. 20 status report filed with the Connecticut Superior Court.
Originally Posted at InsuranceNewsNet on Dec 2, 2025 by John Hilton.
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