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Phoenix Life Insurance Company is now Nassau Life Insurance Company

Posted by www.psmbrokerage.com Admin on Fri, Oct 26, 2018 @ 02:51 PM


As you may know, Nassau Re acquired Phoenix in 2016 and, since then, they have made significant investments and continue to integrate their businesses to build a stronger company for the future. These initiatives allow them to accelerate their growth plans as we head into 2019 and beyond.

Earlier this year, they began transitioning their insurance business to the Nassau Re brand. They have now taken the step of renaming two of their insurance subsidiaries:

  • Phoenix Life Insurance Company is now Nassau Life Insurance Company
  • Phoenix Life and Annuity Company is now Nassau Life and Annuity Company

Nassau Re has received new capital to support their growth plans, while they continue to commit significant resources to developing additional, competitive products to broaden their suite of offerings and continue to focus on improving ratings over time. This is an important milestone in their growth strategy as they expand the Nassau Re brand in the marketplace and broaden our opportunities to build their business with you.

Communications to Existing Policyholders

Nassau Re is communicating the news about their brand to all policyholders as they will be seeing and hearing the Nassau Re name going forward when they call the Customer Service Center, visit our website, and receive statements and service forms. They also have new banking instructions and mailing addresses they will need to know.

Samples of the policyholder letters, along with Q&As, are posted on www.salesnet.nsre.com for your reference. Those with policies and contracts issued by Phoenix Life Insurance Company and Phoenix Life and Annuity Company will separately receive a Name Change Endorsement form that they should keep with their policy, contract or certificate.

New Business Growth in Nassau Life and Annuity Company

Next month, their newly issued multi-year guaranteed annuities (MYGAs) will transition from being issued by PHL Variable to Nassau Life and Annuity in most states. Our other products will continue to be issued out of PHL Variable until they are transitioned to Nassau Life and Annuity in the future, and they have additional new products that will be issued by Nassau Life and Annuity throughout 2019.

They are confident this transition will be seamless, as there will be no changes to the way you work with us. As always, business issued by all of their entities will be supported by the same service organizations, including our Customer Service Center, Sales Support Desk and other agent resources.

Nassau Re is excited about this new chapter in Phoenix’s rich heritage. They remain focused on maintaining your trust, providing good value from their products and delivering quality service. 

Additional Updates:
 

Tags: phoenix, Nassau Re

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