News & Updates

PHL Variable Insurance Company was placed in Rehabilitation on May 20, 2024

June 30, 2026
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PHL Variable was operated as a virtual company by its owner NassauRe. After being placed in rehabilitation, an effort to sell the company was unsuccessful, and they are currently in the pre-liquidation planning phase. As of December 31, 2025:

Senior Health Insurance Company of Pennsylvania (SHIP) was placed in Rehabilitation on January 29, 2020

June 30, 2026
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SHIP is a runoff of a troubled long-term care insurer that was restructured. SHIP was placed in Rehabilitation in January 2020 to stabilize its financial situation. A September 2023 rehabilitation plan was implemented that included premium increases and benefit reductions. Since that time, SHIP’s financial situation has continued to deteriorate. SHIP could be placed in…