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Philadelphia Financial acquires Phoenix Life and Reassurance Company

IBR Staff Writer Published 06 October 2010

Philadelphia Financial has acquired Phoenix Life and Reassurance Company of New York, a New York based life insurance entity from The Phoenix Companies.

Philadelphia Financial has renamed Phoenix as Philadelphia Financial Life Assurance Company of New York.

Philadelphia Financial president and CEO John Hillman said that the acquisition of Phoenix Life and Reassurance Company of New York, now Philadelphia Financial Life Assurance Company of New York will boost the company's growth.

Philadelphia Financial provides insurance strategies to advisors of ultra high net worth individuals and offers private placement insurance.