Hartford-based Phoenix Being Sold

(CBS Connecticut) — A longtime Hartford business is being sold.
It was announced today that the Phoenix Companies is being purchased for $217-million by Nassau Reinsurance Group Holdings.
The Phoenix Companies Chief Financial Officer Bonnie Malley says Nassau has agreed to contribute 100-million dollars when the agreement is closed.“We are going to have a stronger balance sheet, and we believe that is going to benefit not only policy holders, but also other key constituencies includi