Hartford, Conn. - The Phoenix Cos. Inc. announced that two insurance industry veterans, John Hillman and Frank Gencarelli, will lead a new subsidiary that will explore a range of options to meet changing customer needs. Hillman is chief executive officer of Phoenix's Philadelphia Financial Group subsidiary, and will direct the effort while continuing in his current role. Gencarelli, formerly senior vice president, business development at Genworth Financial, joined Phoenix as senior vice president, reporting to Hillman. Hillman has been involved in the life insurance industry for more than 25 years, initially as a member of the national insurance practice group at Arthur Andersen & Co., an international accounting firm. In 1996 he founded Philadelphia Financial Group, which provides private placement life insurance products for high-net-worth clients. Philadelphia Financial became a wholly owned subsidiary of Phoenix in 2003. Gencarelli has spent much of his career in the insurance industry developing relationships with advisors who serve the high-net-worth market. He joins Phoenix Life Solutions after 14 years with Genworth Financial and First Colony Life, most recently as senior vice president, business development. In that position, he was responsible for launching Genworth's new distribution channels. Earlier he was president of Genworth's Retirement Services group. Prior to Genworth, he worked in various positions at AON/Life of Virginia, ultimately as president of AON Financial Institution Services in Chicago. Source: The Phoenix Cos. Inc.

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