Phoenix Companies Inc. has entered the life settlement business.
Phoenix Life Solutions, a unit formed in 2007, has started buying life insurance policies from owners through a network of 4 brokerage general agencies, according to Phoenix, Hartford.
The agencies in the initial network are Advanced Planning Services Inc., San Diego; American Brokerage Services Inc., Wyndmoor, Pa.; Ash Brokerage Corp., Fort Wayne, Ind.; and Madison Brokerage Corp., Morristown, N.J.
John Hillman is the president of the new life settlements business.