Hartford insurer Phoenix Cos. Inc. finally caught up Friday with the rest of its delayed 2014 quarterly financial reports, one showing the parent company narrowed its third-quarter loss.
For three months ended Sept. 30, Phoenix said Friday it lost a net $18.2 million, or $3.17 a diluted share, vs. a net loss of $21.9 million, or $3.81 a diluted share, in the same quarter in 2013.
Phoenix disclosed its latest financials in a 10-Q filing with the Securities and Exchange Commission as part of its pact with the agency to file all its remaining past-due reports before yearend. Phoenix’s third-quarter 10-Q was due to the SEC by Dec. 5, or Phoenix faced extra fines atop the nearly $1 million already remitted to the agency.
Phoenix said its PHL Variable Insurance Co. also filed its quarterly10-Q with the SEC Friday, returning PHL to current SEC filer status. That filing was due by Dec. 12.
“Today’s filing concludes a long restatement process and intense effort to catch up with our delayed periodic reports. We are very pleased to return to current SEC filer status,” said President and CEO James D. Wehr said in a statement.
“Phoenix had a net loss for the third quarter, once again driven primarily by expenses related to SEC reporting catch-up and remediation work. Third quarter operating metrics remained strong with year-over-year sales growth, strong investment performance, favorable overall mortality and excellent persistency,” Wehr said.
