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Phoenix Plows Ahead With Virtus Spin-Off

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A financial services company says it is proceeding with efforts to split its insurance and asset management operations.

Phoenix Companies Inc., Hartford, says it has filed a registration form amendment with the U.S. Securities and Exchange Commission that answers SEC questions about the registration form, which was filed in June.

Phoenix says it still hopes to spin off the asset-management subsidiary, Phoenix Investment Partners Ltd., this fall, by giving Phoenix Investment Partners to Phoenix shareholders.

The Phoenix Investment Partners subsidiary would be renamed Virtus Investment Partners Inc.

Before Phoenix conducts the spin-off, it will mail the registration statement to all shareholders, Phoenix says.

Units of Goldman Sachs Group Inc., New York, and Wachovia Corp., Charlotte, N.C., are acting as financial advisors in connection with the transaction, Phoenix says.