On behalf of Nassau Re, I am excited to announce the latest step in accelerating our growth plans under our recently rebranded flagship, Nassau Life and Annuity Company – a Connecticut insurer based in our corporate headquarters in Hartford.
As you know, last year we began transitioning our insurance business to the Nassau Re brand. We renamed our core Phoenix subsidiaries and established Nassau Life and Annuity Company as our new primary carrier, starting with newly issued MYGAs.
On April 15, we are taking an important next step with the transition of our fixed indexed annuity (FIA) portfolio from Phoenix to Nassau Life and Annuity Company. Subject to state approvals, we will now issue the following suite of products:
- NassauSM Personal Income Annuity
- Nassau Personal Protection ChoiceSM
- Nassau Personal Retirement ChoiceSM
The key product features and benefits remain the same as the similarly named Phoenix FIAs we sell today. See the links below for more details. We will strive to make the transition to Nassau FIAs as seamless as possible for our IMO partners and producers.
As you know first-hand, building a business is a journey, not a destination. This year, we will continue the journey of establishing the Nassau Re brand in the marketplace, including migrating our life insurance portfolio and expanding our product offerings. In addition, we are investing significant resources to provide a best in class service experience to you and your clients.
We believe migrating our new business to Nassau Life and Annuity Company will create a stronger enterprise by helping to minimize the impact on our overall business and ratings from volatility in a legacy block of older age UL policies. The ultimate goal is to position our growth-oriented flagship company to more quickly achieve ratings upgrades.
We are extremely proud of the growing Nassau Re enterprise and confident in the future that lies ahead. We remain firmly committed to being a strong partner for you as we work together to protect multiple generations of families and help people appreciate life in retirement.
As always, we value your feedback and encourage you to share any questions or ideas with anyone on the Nassau team.