E
PHL VARIABLE INS CO
Hartford, CT
Data as of
December 31, 2019
NAIC
Classification
Life & Annuity
Risk Adjusted
Capital Ratio #1
0.57
Risk Adjusted
Capital Ratio #2
0.26
Total
Assets
5.93B
Capital
53.23M
Net
Premiums
-1.11B
Net
Income
-109.15M
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Major Rating Factors: Poor current capitalization (1.6 on a scale of 0 to 10) based on excessive policy leverage and weak risk adjusted capital (moderate loss scenario), although results have slipped from the good range over the last year. Low quality investment portfolio (0.8) containing large holdings of BBB rated bonds in addition to significant exposure to junk bonds. Weak profitability (0.9) with operating losses during 2019.
Other Rating Factors: Weak overall results on stability tests (1.5) including weak risk adjusted capital in prior years, negative cash flow from operations for 2019. Excellent liquidity (7.0).
Stability Factors: A - Financial problems or weaknesses of a parent or affiliate company. C - Past results on our Risk-Adjusted Capital tests. F - Negative cash flow. I - Past results on our Investment Safety Index. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: --
Licensed in: All states except ME, NY
Investments
Invested Assets
1.7B
Cash
2.13%
CMO & Structured Securities
31.98%
Other Investment Grade Bonds
52.67%
Non-Investment Grade Bonds
2.34%
Common & Preferred Stock
0.76%
Mortgages in Good Standing
2.49%
Non-Performing Mortgages
0.00%
Real Estate
0.00%
Other Investments
7.30%
Investments in Affiliates
0.18%
Corporate Info
Group Affiliation
Nassau Reinsurance Group Holdings LP
Investment Rating
--
Company Address
One American Row
Hartford, CT 6103
Phone Number
(860) 403-5000
NAIC Number
93548
Largest Affiliates
D
East Greenbush, NY - L&A
D
Hartford, CT - L&A
D
Overland Park, KS - L&A
Weiss Ratings