Phoenix income rises

Hartford-based The Phoenix Cos. Inc. saw its first quarter net income surge to $50.6 million from the $1.7 million it reported in the same quarter last year, when its bottom line was hit with a $20.1 million impairment charge. Earnings per diluted share climbed to 44 cents, up from 2 cents while revenue rose to $663.4 million, from $638.3 million last year. Assets under management by the firm grew 23 percent to $45.7 billion.