Phoenix Names Industry Veteran Cassidy As New Head of Life Distribution.HARTFORD Hartford, city (1990 pop. 139,739), state capital, Hartford co., central Conn., on the west bank of the Connecticut River; settled as Newtown 1635–36 on the site of a Dutch trading post (1633; abandoned 1654), inc. 1784. , Conn. -- The Phoenix Companies, Inc. (NYSE NYSE See: New York Stock Exchange : PNX) announced today that Edward W. Cassidy will join the company as senior vice president of Life Distribution, reporting to Philip K. Polkinghorn, executive vice president, Life and Annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. . "Ed is a seasoned life insurance executive who brings to Phoenix a wealth of experience in both distribution and product manufacturing," said Dona D. Young, chairman, president and chief executive officer. "He is widely respected as a leader in the industry for getting results and being a team player. Ed is a fine addition to our senior management team." Mr. Cassidy, who joins Phoenix from Principal Financial Group, will direct all individual life insurance sales, including the regional wholesalers and national sales staff who support the sales efforts of independent advisors. "Ed's depth of distribution experience will be invaluable to the continued growth of our life insurance business, particularly with our aggressive product introductions," Mr. Polkinghorn said. At Principal Financial, Mr. Cassidy was senior vice president, individual life, responsible for product development, marketing, risk management, actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin , finance, underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. , IT systems and services. Prior to joining Principal Financial, he spent 15 years at Travelers Life and Annuity Company in Hartford, serving in a variety of senior distribution positions and, ultimately, as president of Travelers Life Division. He holds a bachelor's degree in economics from the University of Pittsburgh. Phoenix offers a comprehensive selection of life insurance products designed to meet the diverse needs of business owners, corporate executives and affluent and high-net-worth individuals and families, particularly in the areas of wealth preservation and wealth transfer. In 2005, Phoenix's total life sales grew 33 percent, to $192.5 million, including a 69 percent rise in annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. premium, from $81.0 million to $136.9 million, reflecting a significant increase in large estate and business planning cases. The Phoenix Companies, Inc. (NYSE: PNX) is a leading provider of life insurance, annuity and asset management products for the accumulation, preservation and transfer of wealth. Through a variety of advisors and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firms, the company provides products and services to affluent and high-net-worth individuals and to institutions. Phoenix has corporate offices in Hartford, Connecticut “Hartford” redirects here. For other uses, see Hartford (disambiguation). Hartford is the capital of the State of Connecticut. It is located in Hartford County on the Connecticut River, north of the center of the state. . For more information on Phoenix, visit www.PhoenixWealthManagement.com |
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