Founded to Pursue a Social Cause
Phoenix is founded by a group of prominent business, religious and civic leaders in Hartford, Connecticut as the American Temperance Life Insurance Company, a company that insures only those who abstain from alcohol.
A Legacy of Innovation and
Social Commitment
We stay true to our purpose through good times and bad
1851
Founded to Pursue a Social Cause
Home Life Insurance Company, which later merges with Phoenix, is formed in Brooklyn, N.Y. It is the first life insurer approved by the newly founded New York Insurance Department to do business in the state.
American Temperance Becomes Phoenix Mutual Life
American Temperance Life Insurance Company changes its name to Phoenix Mutual Life Insurance Company, as the temperance movement wanes and the nation turns its attention to the Civil War.
Phoenix Insures Abraham Lincoln
The Phoenix Board of Directors votes that the premiums on policies issued to President Lincoln, Vice President Hamlin and Speaker Colfax "be tendered to them as a gratuity." After Lincoln is assassinated, Phoenix issues a policy to the new president, Andrew Johnson, "free for one year."
Legacy of Civic Support Begins in Chicago
After the devastating Chicago fire, Phoenix contributes $5,000 to a fund for survivors. This is our first recorded major act of corporate giving. Learn about Phoenix's current community involvement.
Survives Economic Downturn
Inflation is rampant and more than 100 life insurance companies close their doors, but Phoenix and Home Life hold fast. When Home Life becomes a target for an unwanted takeover, its Board of Directors takes a creative approach to persuade stockholders not to sell: It pays them their interest in gold.
Policy of the Day
See a typical policy that was issued, in large part, by hand to Joseph Kopf, a 19 year-old grocery clerk in Cleveland Ohio as he began his career.
Builds First Employee Communication Program
Phoenix publishes The Field, believed to be the first agent newsletter. One of America's first employee communications efforts, the program helped build a common culture across the country.
Launches First Agent Training Course
Phoenix introduces "A Prospectus and Ten Lessons Upon Life Insurance," which is the first agent training course used by a life insurance company. By increasing the professionalism of its advisors, the company created a strong reputation for years to come.
First to Use Direct Mail Marketing
Phoenix becomes the first life insurer to use direct mail advertising to obtain sales leads. Far ahead of its time, the effort helped agents across the country grow their local agencies.
The Kansas Life Insurance Company is Formed
The Kansas Life Insurance Company, later known as The Pyramid Life Insurance Company, issues its first policy. This company is now Nassau Life Insurance Company of Kansas.
Launches first ad to drive insurance demand
Phoenix creates the first advertisement to promote the value of life insurance for the general public. It runs in Literary Digest. Three years later, Phoenix runs ads for its retirement income plan in national magazines, stating, “You don't have to be rich to retire at 55 on $200 a month.”
Helps customers with Financial Planning
Phoenix has strong ideals on the responsibility of service and distributes "The Business of Running a Home” to help its customers create security and peace of mind through effective financial planning and budgeting.
Focuses on Needs-Based Selling
Home Life introduces “Planned Estates,” a marketing program that emphasizes “problems to solve, not prospects to sell.” Decades ahead of its time, it encourages agents to become financial advisors. Home Life's business grows 60 percent from 1933 to 1939 as a result of the shift in practices.
First Company to Reduce Rates for Women
Recognizing that women generally live longer than men, Phoenix is the first company to offer reduced life insurance premium rates for women.
Enters the Group Life & Health Market
Pioneering a new concept in the insurance industry, Phoenix begins selling group life and health insurance plans to help fuel the growth of small businesses. This allows smaller businesses to offer employees benefits usually available only through larger corporations.
Spurs Urban Renewal in Hartford
Phoenix builds a new corporate headquarters - the world's first two-sided office building - in Hartford, Connecticut. The building serves as a catalyst for the city's redevelopment. See photo gallery.
First to Offer Medicare Supplement Coverage
Pyramid Life (today named Nassau Life Insurance Company of Kansas) was one of the first to offer Medicare Supplement policies shortly after President Johnson signed Medicare into law.
Recognizes Hazards of Smoking
As the hazards of smoking gain mainstream public awareness, Phoenix is the first to offer discounted premiums on all policies to nonsmokers.
Strengthens Position in the Estate Planning Market
Survivorship or “second-to-die” policies are introduced, paying a benefit upon the death of the surviving policyholder. This success of this product enables the company to claim a preeminent role in the estate planning sector.
Merges with Home Life
Phoenix and Home Life successfully navigate a major national real estate downturn by merging to create stronger company. The combination creates efficiencies and a top-25 U.S. carrier. The new company is called Phoenix Home Life Mutual Insurance Company.
Successfully Launches IPO
Phoenix converts from a mutual to a stock company in order to create more flexibility for growth. The new public company is called The Phoenix Companies, Inc., trading under the symbol PNX.
Headquarters Recognized as Historic Building
Phoenix's Hartford headquarters, the two-sided “boat building,” is listed on the National Register of Historic Places. The company makes another major contribution to the Hartford skyline, donating a 2.2-acre site for the home of the new Connecticut Science Center. Learn more about the boat building.
Navigates Financial Crisis
The collapse of the Lehman Brothers and the mortgage market meltdown created stress for many financial institutions. Phoenix carefully worked through these challenges and adapted its business to reflect current economic conditions.
Launches New Distribution Company
Phoenix forms a distribution company, Saybrus Partners, to sell Phoenix products and provide dedicated life insurance and annuity sales support to partner companies. Acquired by AmeriLife in 2021, Saybrus continues to represent Nassau products.
Focuses on growing retirement needs
Phoenix launches a line of fixed indexed annuity offerings to meet growing retirement needs as the first baby boomers turn 65. See Phoenix's current annuity portfolio.
Nassau Founded
Nassau is founded with capital provided by Golden Gate Capital and, over the next two years acquires Phoenix, Saybrus Partners, Constitution Life and CorAmerica and forms Nassau Re Cayman, and Nassau Corporate Credit. In 2018, the insurance companies are renamed under a unified Nassau brand and Nassau Life and Annuity Company becomes the flagship.
Re/Imagine Insurance
Nassau Re/Imagine, an insurtech incubator, is launched for startups committed to building a vibrant insurtech ecosystem in Hartford’s insurance community.
100,000 New Policyholders
After acquiring Foresters Life Insurance and Annuity Company and merging it with Nassau Life Insurance Company, Nassau welcomes more than 100,000 new policyholders.
Simple Annuity Mobile APP
Nassau launches its inaugural iOS mobile application, a key step in redesigning the sales and consumer experience for annuities and empowering agents with digital tools.
New Growth Capital
A $100 million initial strategic investment by new investors led by Wilton Re provides more capital to fuel Nassau’s growth.