PHL Policyholders Denied Emergency Relief But Granted Limited Intervention

( April 23, 2026, 10:11 AM EDT) -- WATERBURY, Conn. — A Connecticut state judge granted limited intervention but denied emergency relief sought by universal life policyholders in PHL Variable Insurance Co.’s rehabilitation, holding that despite the rehabilitator’s Dec. 31 shift to a liquidation strategy, his decisions to reject a proposed premium suspension or escrow mechanism remained lawful, rational and in good faith under the deferential standards governing rehabilitation proceedings....