Prominent Brokerage General Agencies Support New Life Settlements Business Model From Phoenix Life Solutions

Four BGAs offered guidance on product development, marketing

     Hartford, CT, April 1 2008 - The Phoenix Companies, Inc. (NYSE: PNX), which today announced it will enter the life insurance settlements market through its Phoenix Life Solutions subsidiary, begins with the backing of four prominent brokerage general agencies committed to the company's vision of "changing the world of life settlements."

     The brokerage general agencies (BGAs), also founding partners of the Phoenix Life Solutions Design Board that guided the company's business development, are: Advanced Planning Services of San Diego, American Brokerage Services of Wyndmoor, Penn., Ash Brokerage of Fort Wayne, Ind., and Madison Brokerage of Morristown, N.J.

     We partnered with these four BGAs because they, like Phoenix, are committed to transforming how the industry provides life settlements," said Frank T. Gencarelli, executive vice president, Phoenix Life Solutions. "They are strong advocates for a new approach to life settlements that enhances value for the consumer and commits to fully transparent transactions." 

     Dan Anderson, CEO, Madison Brokerage, said, "Phoenix Life Solutions immediately brings credibility to the life settlements market. Their commitment to putting consumers' interests first and offering full transparency in the transaction is a refreshing change from many companies in the market today."

     "A life insurance agent is best able to advise a consumer about the potential value of a life settlement in an overall financial plan," noted Tim Ash, president of Ash Brokerage. "The life settlement market has grown outside the life insurance industry, and we look forward to working with Phoenix Life Solutions to bring life settlements back home," he said.

     "The overarching goal of this group has been to design a program that enables advisors and consumers to realize the true value of life settlements," said Mike Rodman, president of Advanced Planning Services. "I am excited to join these other companies in an effort to 'do it right'."

     Brien Tilley, president of American Brokerage Services, said his agency was attracted to the program because 'commissions and fees are fully disclosed and are based on the ‘value created,'or the amount that a consumer is offered over the policy's cash surrender value. This aligns advisors with the best interests of consumers."

     Agents who are interested in discussing life settlements can contact Phoenix Life Solutions at 484-530-4800 or the following BGAs: Advanced Planning Services, 800-551-8116, www.apshome.com; American Brokerage Services, 888-227-3131, www.absgo.com; Ash Brokerage, 800-589-3000, https://www.ashbrokerage.com; or Madison Brokerage, 888-539-3232 www.madisonbrokerage.com.

     Phoenix Life Solutions was founded in 2007 to develop new ways to meet the evolving needs of high-net-worth customers and institutional investors through a variety of innovative solutions, including life settlements.

     With roots dating to 1851, The Phoenix Companies, Inc. (NYSE:PNX) helps individuals and institutions solve their often highly complex personal financial and business planning needs through its broad array of life insurance, annuities and investments. The company's products and services reflect deep insights into the wants and needs of consumers and financial professionals gleaned from research, including its Phoenix Wealth Survey, conducted annually since 2000. In 2007, Phoenix had annual revenues of $2.6 billion and total assets of $30.2 billion. For more information, visit www.phoenixwm.com.