EXHIBIT 99.1

The Phoenix Companies, Inc.

Financial Supplement

Wall Street Coverage		Transfer Agent and Registrar
Firm	Analyst	For information or assistance regarding your account, please contact our transfer agent
Barclays Capital Credit Suisse Securities (USA) Dowling & Partners JP Morgan Langen McAlenney Raymond James & Associates UBS	Eric Berg Tom Gallagher Paul Goulekas / Sean Rourke Jimmy Bhullar Robert Glasspiegel Steven Schwartz Andrew Kligerman	and registrar:
		The Phoenix Companies, Inc. C/O BNY Mellon Shareowner Services P.O. Box 358015, Pittsburgh, PA 15258 Toll-free: 1-800-490-4258   Int'l: 201-680-6823 TDD: 800-231-5469, Int'l TDD: 201-680-6610 E-mail: shrrelations@bnymellon.com Web: www.bnymellon.com/shareowner/isd
		For More Information
		To receive additional information, including financial supplements and Securities and Exchange Commission filings along with access to other shareholder services, visit the Investor Relations Section on our Web site at Phoenixwm.com or contact our Investor Relations Department at:
Shareholder Information
Security Listings			The Phoenix Companies, Inc.
The common stock of The Phoenix Companies, Inc. is traded on the New York Stock Exchange (NYSE) under the symbol "PNX."  Our 7.45 percent bond is traded on the NYSE under the symbol "PFX."			Investor Relations One American Row P.O. Box 5056, Hartford, CT  06102-5056 Phone: 1-860-403-7100 Fax: 1-860-403-7880 e-mail: pnx.ir@phoenixwm.com

For more information on our products and services, call your Phoenix representative or visit our Web site at Phoenixwm.com.

In managing our business, we analyze our performance on the basis of "operating income" which does not equate to net income as determined in accordance with GAAP. Rather, it is the measure of profit or loss used by our management to evaluate performance, allocate resources and manage our operations. We believe that operating income, and measures that are derived from or incorporate operating income, are appropriate measures that are useful to investors as well, because they identify the earnings of, and underlying profitability factors affecting, the ongoing operations of our business. Operating income is calculated by excluding realized investment gains (losses) and certain other items because we do not consider them to be related to our operating performance. The size and timing of realized investment gains (losses) are often subject to our discretion. Certain other items are also excluded from operating income if, in our opinion, they are not indicative of overall operating trends. The criteria used to identify an item that will be excluded from operating income include: whether the item is infrequent and is material to our income; or whether it results from a change in regulatory requirements, or relates to other unusual circumstances. Items excluded from operating income may vary from period to period. Because these items are excluded based on our discretion, inconsistencies in the application of our selection criteria may exist. Some of these items may be significant components of net income in accordance with GAAP. Accordingly, operating income, and other measures that are derived from or incorporate operating income, are not substitutes for net income, or measures that are derived from or incorporate net income, determined in accordance with GAAP and may be different from similarly titled measures of other companies.

Total operating return on equity ("ROE") is an internal performance measure used in the management of our operations, including our compensation plans and planning processes. Our management believes that this measure provides investors with a useful metric to assess our performance and the effectiveness of our use of historic capital. ROE is calculated by dividing (i) total operating income, by (ii) average equity, excluding accumulated OCI, FIN 46-R and discontinued operations. Total operating return on tangible equity ("return on tangible equity") is also an internal performance measure used in the evaluation of our operations. Our management believes that this measure provides investors with a useful metric to assess our performance and the effectiveness of our use of current capital. Return on tangible equity is calculated by dividing (i) total operating income, by (ii) average equity, excluding accumulated OCI, FIN 46-R, discontinued operations and the carrying value of goodwill and intangible assets.

The Phoenix Companies, Inc.

Financial Supplement

June 2010 (unaudited)

Table of Contents

Financial Highlights	1
Consolidated Income Statement	2
Alternate Operating Income Statement Details excluding Regulatory Closed Block	4
Closed Block Assets and Liabilities	6
Variable Universal Life Funds Under Management	8
Universal Life / Interest Sensitive Funds Under Management	10
Life Sales	12
Annuity Funds Under Management and Annuity Supplementary Information	14
Deferred Policy Acquisition Costs	16
Consolidated Statement of Income - GAAP Format	18
Condensed Consolidated Balance Sheet - Preliminary	20
General Account Investment Portfolio Summary	21
General Account GAAP Net Investment Income Yields	22
General Account Realized Investment Gains and Losses	24

The Phoenix Companies, Inc.

Financial Highlights

Second Quarter 2010 (unaudited)

(amount in millions, except per share data)

For the Period Ended:	YTD June			December 31,
	2010			2009			2008			2007			2006
Balance Sheet Information
General account invested assets	$	14,175.3		$	13,750.4		$	13,607.9		$	15,719.5		$	16,079.0
Separate account assets		3,974.5			4,418.1			3,860.1			5,781.2			5,403.2
Total assets		20,874.3			24,600.3			25,808.6			30,500.8			29,128.1
Indebtedness		427.7			428.0			458.0			627.7			628.2
Total stockholders' equity		1,307.2			1,131.1			865.1			2,279.0			2,231.5
Total stockholders' equity, excluding SFAS 115,
other accumulated OCI and FIN 46-R	$	1,328.4		$	1,302.4		$	1,665.7		$	2,470.0		$	2,360.0
Average equity, excluding other accumulated OCI,
FIN 46-R and discontinued operations(1)	$	1,345.8		$	1,427.0		$	1,808.3		$	2,381.8		$	2,239.4
Total operating return on equity (1)		-1.50	%		-9.98	%		-4.51	%		5.38	%		3.68	%
Average tangible common equity (2)	$	1,344.6		$	1,423.6		$	1,702.2		$	1,703.1		$	1,516.8
Total operating return on average tangible equity (2)		-1.50	%		-10.00	%		-4.79	%		7.94	%		5.74	%
Debt to total capitalization (3)		24.4	%		24.7	%		21.6	%		20.3	%		21.0	%
Book value per share	$	11.27		$	9.78		$	7.56		$	19.94		$	19.63
Book value per share, excluding SFAS 115 and
other accumulated OCI	$	11.45		$	11.26		$	14.06		$	21.15		$	20.29
Book value per share, excluding SFAS 115,
other accumulated OCI and FIN 46-R	$	11.45		$	11.26		$	14.56		$	21.61		$	20.76
Period-end common shares outstanding		116.0			115.7			114.4			114.3			113.7
Indebtedness:
Surplus notes	$	174.1		$	174.1		$	174.1		$	174.0		$	174.0
Senior unsecured bonds - due 2008		---			---			---			153.7			153.7
Senior unsecured bonds - due 2032		253.6			253.9			283.9			300.0			300.0
Interest rate swap		---			---			---			---			0.5
Total indebtedness	$	427.7		$	428.0		$	458.0		$	627.7		$	628.2
Statutory Financial Data for Phoenix Life Insurance Company (4)
Capital, surplus and surplus notes	$	629.4		$	517.2		$	758.9		$	848.2		$	932.5
Asset valuation reserve (AVR)		85.3			57.0			94.4			192.5			187.8
Capital, surplus, surplus notes and AVR	$	714.7		$	574.2		$	853.3		$	1,040.7		$	1,120.3
Policyholder dividend liability	$	314.0		$	312.6		$	324.2		$	355.6		$	348.9
Interest maintenance reserve	$	(56.0	)	$	(45.8	)	$	(44.2	)	$	(44.4	)	$	(44.3	)
Statutory gain from operations	$	24.8		$	29.2		$	53.4		$	115.2		$	131.6
Statutory net income (loss)	$	32.9		$	(59.9	)	$	(82.3	)	$	80.0		$	162.0

(1)	This average equity is used for the calculation of total operating return on equity and represents the average of the monthly average of equity, excluding other accumulated OCI, the effects of FIN 46-R and the equity of discontinued operations.
(2)	This average equity is used for the calculation of total operating return on tangible equity and represents the average of the monthly average of equity, excluding other accumulated OCI, the effects of FIN 46-R, the equity of discontinued operations and the carrying value of goodwill and intangible assets.
(3)	This debt to total capitalization is based on total stockholders' equity, excluding SFAS 115, other accumulated OCI and FIN 46-R.
(4)	Phoenix Life Insurance Company is required to file financial statements with state regulatory authorities prepared on an accounting basis prescribed or permitted by the Insurance Department of the State of New York.  June 2010 amounts are preliminary.

1

The Phoenix Companies, Inc.

Consolidated Income Statement

Second Quarter 2010 (unaudited)

(amount in millions, except per share data)

	YTD June						December 31,
	2010			2009			2009			2008			2007			2006
Consolidated Income Statement
Premiums	$	307.2		$	342.8		$	684.2		$	765.9		$	798.3		$	839.7
Fee income		318.1			309.7			648.1			600.9			499.9			400.3
Net investment income		421.5			378.7			786.3			907.0			1,036.1			1,022.6
Total revenue		1,046.8			1,031.2			2,118.6			2,273.8			2,334.3			2,262.6
Policy benefits and increase in policy liabilities		605.8			660.2			1,279.9			1,362.3			1,312.4			1,335.9
Policyholder dividends		148.7			112.1			267.3			327.7			375.6			353.1
Policy acquisition cost amortization		134.4			98.9			266.5			431.7			192.7			148.8
Interest expense on indebtedness		15.9			16.8			33.1			36.7			44.2			49.2
Controllable and other expenses		155.3			149.3			298.5			274.4			261.1			242.7
Total benefits and expenses		1,060.1			1,037.3			2,145.3			2,432.8			2,186.0			2,129.7
Pre-tax operating income (loss)		(13.3	)		(6.1	)		(26.7	)		(159.0	)		148.3			132.9
Income tax expense (benefit)		(3.2	)		126.4			115.7			(75.4	)		27.3			40.1
Operating income (loss)		(10.1	)		(132.5	)		(142.4	)		(83.6	)		121.0			92.8
Net realized investment gains (losses)		19.4			(24.0	)		(53.3	)		(88.7	)		(8.4	)		21.0
Earnings on CDOs consolidated under FIN-46R		---			---			---			(4.2	)		1.0			(1.0	)
Discontinued operations		14.7			(29.5	)		(123.3	)		(549.5	)		4.0			(17.1	)
Other income (expenses) excluded from operating income		---			---			---			---			---			(0.4	)
Net income (loss)	$	24.0		$	(186.0	)	$	(319.0	)	$	(726.0	)	$	117.6		$	95.3
Earnings Per Share
Basic
Weighted-average shares outstanding		116.2			115.9			116.5			114.4			114.1			110.9
Total operating income (loss) per share	$	(0.09	)	$	(1.14	)	$	(1.22	)	$	(0.73	)	$	1.06		$	0.84
Net income (loss) per share	$	0.21		$	(1.60	)	$	(2.74	)	$	(6.35	)	$	1.03		$	0.86
Diluted
Weighted-average shares outstanding and dilutive potential common shares		116.7			115.9			116.5			114.4			116.0			113.2
Total operating income (loss) per share	$	(0.09	)	$	(1.14	)	$	(1.22	)	$	(0.73	)	$	1.04		$	0.82
Net income (loss) per share	$	0.21		$	(1.60	)	$	(2.74	)	$	(6.35	)	$	1.01		$	0.84

2

The Phoenix Companies, Inc.

Consolidated Income Statement

Second Quarter 2010 (unaudited)

(amount in millions, except per share data)

Quarters ended

	2009												2010
	March			June			September			December			March				June
Consolidated Income Statement
Premiums	$	172.2		$	170.6		$	170.9		$	170.5		$	151.7		$	155.5
Fee income		154.0			155.7			166.3			172.1			162.5			155.6
Net investment income		184.6			194.1			200.4			207.2			204.6			216.9
Total revenue		510.8			520.4			537.6			549.8			518.8			528.0
Policy benefits and increase in policy liabilities		316.3			343.9			305.6			314.1			288.6			317.2
Policyholder dividends		50.3			61.8			73.4			81.8			68.3			80.4
Policy acquisition cost amortization		66.0			32.9			63.1			104.5			67.0			67.4
Interest expense on indebtedness		8.5			8.3			8.3			8.0			8.0			7.9
Controllable and other expenses		77.8			71.5			85.0			64.2			79.9			75.4
Total benefits and expenses		518.9			518.4			535.4			572.6			511.8			548.3
Pre-tax operating income (loss)		(8.1	)		2.0			2.2			(22.8	)		7.0			(20.3	)
Income tax expense (benefit)		110.0			16.4			(22.1	)		11.4			(2.7	)		(0.5	)
Operating income (loss)		(118.1	)		(14.4	)		24.3			(34.2	)		9.7			(19.8	)
Net realized investment gains (losses)		44.8			(68.8	)		(22.5	)		(6.8	)		4.3			15.1
Discontinued operations		(1.5	)		(28.0	)		(28.4	)		(65.4	)		(0.3	)		15.0
Net income (loss)	$	(74.8	)	$	(111.2	)	$	(26.6	)	$	(106.4	)	$	13.7		$	10.3
Earnings Per Share
Basic
Weighted-average shares outstanding		115.6			116.0			115.9			116.4			116.1			116.2
Total operating income (loss) per share	$	(1.02	)	$	(0.12	)	$	0.21		$	(0.29	)	$	0.08		$	(0.17	)
Net income (loss) per share	$	(0.65	)	$	(0.96	)	$	(0.23	)	$	(0.91	)	$	0.12		$	0.09
Diluted
Weighted-average shares outstanding and
dilutive potential common shares		115.6			116.0			115.9			116.4			116.6			116.2
Total operating income (loss) per share	$	(1.02	)	$	(0.12	)	$	0.21		$	(0.29	)	$	0.08		$	(0.17	)
Net income (loss) per share	$	(0.65	)	$	(0.96	)	$	(0.23	)	$	(0.91	)	$	0.12		$	0.09

3

The Phoenix Companies, Inc.

Alternate Operating Income Statement

Details excluding Regulatory Closed Block

Second Quarter 2010 (unaudited)

($ in millions)

	YTD June						December 31,
	2010			2009			2009			2008			2007			2006
Premiums	$	13.6		$	20.3		$	37.1		$	46.6		$	52.7		$	53.1
Cost of insurance charges		244.3			242.3			491.2			434.7			336.0			258.5
Other fees		64.0			55.7			130.0			151.1			148.2			125.2
Surrender charges		9.8			11.7			26.9			15.1			15.7			16.6
Net investment income on assets backing liabilities		152.2			173.2			330.7			359.4			385.7			407.8
Net investment income on assets backing surplus		15.2			(8.8	)		(2.2	)		24.5			78.8			74.1
Total revenue		499.1			494.4			1,013.7			1,031.4			1,017.1			935.3
Benefits paid		268.2			298.4			806.1			463.1			436.7			443.8
Increases (decreases) in reserves		(90.0	)		(99.2	)		(434.3	)		(100.4	)		(149.1	)		(177.3	)
Interest on policyholder funds		64.6			70.0			136.2			152.0			155.6			170.7
Policyholder dividends		0.2			0.2			0.4			0.6			0.7			0.6
Interest expense on indebtedness		15.9			16.8			33.1			36.7			44.2			49.2
Commissions and sales incentives, net of deferrals		13.1			10.7			22.0			39.7			33.6			34.4
Operating expenses, net of deferrals		117.2			133.1			269.4			225.9			219.6			202.0
Reinsurance allowance, net of deferrals		8.1			(3.0	)		(5.7	)		(13.0	)		(13.4	)		(12.3	)
Premium taxes		9.5			6.0			9.4			16.8			15.1			12.4
Policy acquisition cost amortization		134.4			98.9			266.5			431.7			192.7			148.8
Total benefits and expenses		541.2			531.9			1,103.1			1,253.1			935.7			872.3
Pre-tax operating income (loss) excl. regulatory closed block		(42.1	)		(37.5	)		(89.4	)		(221.7	)		81.4			63.0
Pre-tax operating income - regulatory closed block		28.8			31.4			62.7			62.7			67.0			69.8
Total pre-tax operating income (loss)		(13.3	)		(6.1	)		(26.7	)		(159.0	)		148.4			132.8
Income tax expense (benefit)		(3.2	)		126.4			115.7			(75.4	)		27.3			40.1
Total operating income (loss)	$	(10.1	)	$	(132.5	)	$	(142.4	)	$	(83.6	)	$	121.1		$	92.7

4

The Phoenix Companies, Inc.

Details excluding Regulatory Closed Block

Alternate Operating Income Statement

Second Quarter 2010 (unaudited)

($ in millions)

Quarters ended

	2009												2010
	March			June			September			December			March			June
Premiums	$	12.4		$	7.9		$	9.9		$	6.9		$	7.0			$	6.6
Cost of insurance charges		119.9			122.4			124.4			124.5			124.4				119.9
Other fees		28.5			27.2			34.3			40.0			33.1				30.9
Surrender charges		5.6			6.1			7.6			7.6			5.0				4.8
Net investment income on assets backing liabilities		87.6			85.6			77.7			79.8			76.6				75.6
Net investment income on assets backing surplus		(6.7	)		(2.1	)		3.5			3.1			5.6				9.6
Total revenue		247.3			247.1			257.4			261.9			251.7				247.4
Benefits paid		120.6			177.8			361.2			146.5			129.5				138.7
Increases (decreases) in reserves		(35.4	)		(63.8	)		(277.8	)		(57.3	)		(52.0	)			(38.0	)
Interest on policyholder funds		34.8			35.2			32.2			34.0			32.5				32.1
Policyholder dividends		0.1			0.1			0.1			0.1			0.1				0.1
Interest expense on indebtedness		8.5			8.3			8.3			8.0			8.0				7.9
Commissions and sales incentives, net of deferrals		6.0			4.7			5.7			5.5			6.1				7.0
Operating expenses, net of deferrals		68.2			64.8			76.3			60.1			62.2				55.0
Reinsurance allowance, net of deferrals		(0.9	)		(2.1	)		(1.1	)		(1.6	)		(1.3	)			9.4
Premium taxes		3.2			2.9			2.8			0.6			7.0				2.5
Policy acquisition cost amortization		66.0			32.9			63.1			104.5			67.0				67.4
Total benefits and expenses		271.1			260.8			270.8			300.4			259.1				282.1
Pre-tax operating income (loss) excl. regulatory closed block		(23.8	)		(13.7	)		(13.4	)		(38.5	)		(7.4	)			(34.7	)
Pre-tax operating income - regulatory closed block		15.7			15.7			15.6			15.7			14.4				14.4
Total pre-tax operating income (loss)		(8.1	)		2.0			2.2			(22.8	)		7.0				(20.3	)
Income tax expense (benefit)		110.0			16.4			(22.1	)		11.4			(2.7	)			(0.5	)
Total operating income (loss)	$	(118.1	)	$	(14.4	)	$	24.3		$	(34.2	)	$	9.7			$	(19.8	)

5

The Phoenix Companies, Inc.

Closed Block Assets and Liabilities

Second Quarter 2010 (unaudited)

($ in millions)

	YTD June				December 31,
	2010		2009		2009		2008		2007		2006
Debt securities	$	6,480.7	$	6,123.6	$	6,305.1	$	6,011.4	$	6,919.4	$	7,000.5
Equity securities		12.3		8.4		6.7		9.0		134.0		120.5
Mortgage loans		5.2		7.3		6.2		8.9		12.7		66.5
Venture capital partnerships		197.9		168.3		180.2		188.5		157.3		97.9
Policy loans		1,371.0		1,414.3		1,378.5		1,377.0		1,357.1		1,346.6
Other investments		148.3		137.2		142.8		153.3		123.7		85.5
Total closed block investments		8,215.4		7,859.1		8,019.5		7,748.1		8,704.2		8,717.5
Cash and cash equivalents		22.6		17.1		33.3		57.2		67.8		66.3
Accrued investment income		102.1		108.4		105.9		113.0		112.1		112.8
Receivables		61.5		64.6		53.3		49.5		44.7		46.7
Deferred income taxes		261.1		361.4		270.3		418.3		329.3		329.8
Other closed block assets		37.0		214.0		22.6		338.0		10.0		19.9
Total closed block assets	$	8,699.7		8,624.6		8,504.9		8,724.1		9,268.1		9,293.0
Policy liabilities and accruals		9,077.0		9,531.1		9,246.5		9,742.7		9,811.2		9,798.8
Policyholder dividends payable		296.3		311.7		297.8		311.1		332.8		331.7
Policyholder dividend obligation		248.5		---		----		---		246.0		326.9
Other closed block liabilities		152.9		58.0		57.9		72.0		49.3		47.9
Total closed block liabilities		9,774.7		9,900.8		9,602.2		10,125.8		10,439.3		10,505.3
Excess of closed block liabilities over closed block assets	$	1,075.0	$	1,276.2	$	1,097.3	$	1,401.7	$	1,171.2	$	1,212.3

6

The Phoenix Companies, Inc.

Closed Block Assets and Liabilities

Second Quarter 2010 (unaudited)

($ in millions)

	2009								2010
	March		June		September		December		March		June
Debt securities	$	5,969.3	$	6,123.6	$	6,388.6	$	6,305.1	$	6,371.5		$	6,480.7
Equity securities		9.0		8.4		7.6		6.7		9.9			12.3
Mortgage loans		7.8		7.3		6.7		6.2		5.7			5.2
Venture capital partnerships		174.0		168.3		174.8		180.2		191.2			197.9
Policy loans		1,411.6		1,414.3		1,402.9		1,378.5		1,380.0			1,371.0
Other investments		146.5		137.2		135.9		142.8		141.5			148.3
Total closed block investments		7,718.2		7,859.1		8,116.5		8,019.5		8,099.8			8,215.4
Cash and cash equivalents		21.5		17.1		20.5		33.3		24.6			22.6
Accrued investment income		112.5		108.4		112.1		105.9		107.4			102.1
Receivables		53.8		64.6		42.9		53.3		55.5			61.5
Deferred income taxes		419.3		361.4		272.5		270.3		264.1			261.1
Other closed block assets		330.5		214.0		51.3		22.6		17.1			37.0
Total closed block assets		8,655.8		8,624.6		8,615.8		8,504.9		8,568.5			8,699.7
Policy liabilities and accruals		9,626.5		9,531.1		9,383.3		9,246.5		9,167.0			9,077.0
Policyholder dividends payable		312.1		311.7		308.4		297.8		299.2			296.3
Policyholder dividend obligation		---		---		---		---		114.8			248.5
Other closed block liabilities		93.1		58.0		42.8		57.9		71.5			152.9
Total closed block liabilities		10,031.7		9,900.8		9,734.5		9,602.2		9,652.5			9,774.7
Excess of closed block liabilities over closed block assets	$	1,375.9	$	1,276.2	$	1,118.7	$	1,097.3	$	1,084.0		$	1,075.0

7

The Phoenix Companies, Inc.

Variable Universal Life Funds Under Management

Second Quarter 2010 (unaudited)

($ in millions)

	YTD June						December 31,
	2010			2009			2009			2008			2007			2006
Funds Under Management (FUM)
Deposits	$	56.3		$	62.9		$	115.8		$	142.2		$	153.8		$	149.0
Surrenders		(89.0	)		(78.9	)		(158.8	)		(105.4	)		(102.1	)		(85.9	)
Total net sales		(32.7	)		(16.0	)		(43.0	)		36.8			51.7			63.1
Deaths		(2.5	)		(1.6	)		(2.6	)		(4.6	)		(12.0	)		(4.7	)
Interest credited		(39.9	)		59.1			244.3			(486.1	)		121.5			174.5
Fees		(6.7	)		(8.4	)		(15.3	)		(22.7	)		(26.1	)		(23.9	)
Cost of insurance		(38.3	)		(41.1	)		(80.0	)		(78.6	)		(75.2	)		(71.5	)
Change in FUM		(120.1	)		(8.0	)		103.4			(555.2	)		59.9			137.5
Beginning balance		1,168.5			1,065.1			1,065.1			1,620.3			1,560.4			1,422.9
Ending fund balance	$	1,048.4		$	1,057.1		$	1,168.5		$	1,065.1		$	1,620.3		$	1,560.4
Gross life insurance in force (1)(2)	$	17,183.0		$	24,165.6		$	22,780.0		$	24,934.5		$	24,714.2		$	24,164.6

(1)  2006 face amounts updated to include the term rider face amounts for all variable universal life products.

(2)  Gross life insurance in force decreased by $4,795.8 million in June 2010 due to sale of Philadelphia Financial Group (PFG).

8

The Phoenix Companies, Inc.

Variable Universal Life Funds Under Management

Second Quarter 2010 (unaudited)

($ in millions)

Quarters ended

	2009												2010
	March			June			September			December			March			June
Funds Under Management (FUM)
Deposits	$	31.2		$	31.7		$	28.4		$	24.5		$	28.7		$	27.6
Surrenders		(26.3	)		(52.6	)		(35.8	)		(44.1	)		(46.3	)		(42.7	)
Total net sales		4.9			(20.9	)		(7.4	)		(19.6	)		(17.6	)		(15.1	)
Deaths		(0.8	)		(0.8	)		(0.5	)		(0.5	)		(2.1	)		(0.4	)
Interest credited		(63.7	)		122.8			130.5			54.7			41.6			(81.5	)
Fees		(4.1	)		(4.3	)		(2.8	)		(4.1	)		(3.3	)		(3.4	)
Cost of insurance		(20.8	)		(20.3	)		(19.3	)		(19.6	)		(19.2	)		(19.1	)
Change in FUM		(84.5	)		76.5			100.5			10.9			(0.6	)		(119.5	)
Beginning balance		1,065.1			980.6			1,057.1			1,157.6			1,168.5			1,167.9
Ending fund balance	$	980.6		$	1,057.1		$	1,157.6		$	1,168.5		$	1,167.9		$	1,048.4
Gross life insurance in force (1)	$	24,664.6		$	24,165.6		$	23,435.0		$	22,780.0		$	22,483.0		$	17,183.0

(1)  Gross life insurance in force decreased by $4,795.8 million in June 2010 due to sale of Philadelphia Financial Group (PFG).

9

The Phoenix Companies, Inc.

Universal Life / Interest Sensitive Funds Under Management

Second Quarter 2010 (unaudited)

($ in millions)

	YTD June						December 31,
	2010			2009			2009			2008			2007			2006
Funds Under Management (FUM)
Deposits	$	159.4		$	179.8		$	351.4		$	587.5		$	540.9		$	417.1
Surrenders		(64.6	)		(78.4	)		(161.6	)		(118.8	)		(77.0	)		(84.7	)
Net sales		94.8			101.4			189.8			468.7			463.9			332.4
Deaths		(22.8	)		(13.1	)		(27.3	)		(28.4	)		(22.9	)		(20.5	)
Interest credited		44.6			47.4			96.6			97.7			86.3			79.6
Fees		(11.2	)		(15.2	)		(28.3	)		(51.5	)		(48.6	)		(36.6	)
Cost of insurance		(204.7	)		(198.3	)		(406.1	)		(354.4	)		(258.9	)		(184.9	)
Change in FUM		(99.3	)		(77.8	)		(175.3	)		132.1			219.8			170.0
Beginning balance		2,080.7			2,256.0			2,256.0			2,123.9			1,904.1			1,734.1
Ending fund balance	$	1,981.4		$	2,178.2		$	2,080.7		$	2,256.0		$	2,123.9		$	1,904.1
Gross life insurance in force	$	30,679.0		$	33,325.0		$	32,329.0		$	33,351.1		$	27,358.2		$	20,402.1

10

The Phoenix Companies, Inc.

Universal Life / Interest Sensitive Funds Under Management

Second Quarter 2010 (unaudited)

($ in millions)

Quarters ended

	2009												2010
	March			June			September			December			March			June
Funds Under Management (FUM)
Deposits	$	95.3		$	84.5		$	88.1		$	83.5		$	84.3		$	75.1
Surrenders		(31.6	)		(46.8	)		(45.7	)		(37.5	)		(35.6	)		(29.0	)
Net sales		63.7			37.7			42.4			46.0			48.7			46.1
Deaths		(7.3	)		(5.8	)		(7.9	)		(6.3	)		(9.8	)		(13.0	)
Interest credited		24.0			23.4			24.5			24.7			23.1			21.5
Fees		(8.2	)		(7.0	)		(6.8	)		(6.3	)		(6.1	)		(5.1	)
Cost of insurance		(98.1	)		(100.2	)		(103.9	)		(103.9	)		(104.3	)		(100.4	)
Change in FUM		(25.9	)		(51.9	)		(51.7	)		(45.8	)		(48.4	)		(50.9	)
Beginning balance		2,256.0			2,230.1			2,178.2			2,126.5			2,080.7			2,032.3
Ending fund balance	$	2,230.1		$	2,178.2		$	2,126.5		$	2,080.7		$	2,032.3		$	1,981.4
Gross life insurance in force	$	33,631.1		$	33,325.0		$	32,900.0		$	32,329.0		$	31,690.0		$	30,679.0

11

The Phoenix Companies, Inc.

Life Sales

Second Quarter 2010 (unaudited)

($ in millions)

	YTD June				December 31,
	2010		2009		2009		2008		2007		2006
Life Insurance Sales
Wholesaler Channel
Variable universal life	$	0.1	$	6.5	$	6.9	$	26.7	$	21.9	$	16.7
Universal life/interest sensitive		1.2		16.1		20.8		229.9		308.2		221.9
Term life		---		5.4		5.3		21.6		22.2		20.3
Life insurance annualized premium (1)		1.3		28.0		33.0		278.2		352.3		258.9
Variable universal life		---		3.0		3.2		9.3		8.0		8.6
Universal life/interest sensitive		0.9		14.9		19.2		54.2		65.0		61.8
Life insurance single premium		0.9		17.9		22.4		63.5		73.0		70.4
Variable universal life		0.1		9.5		10.1		36.0		29.9		25.3
Universal life/interest sensitive		2.1		31.0		40.0		284.1		373.2		283.7
Term life		---		5.4		5.3		21.6		22.2		20.3
Total wholesaler life insurance premium (2)	$	2.2	$	45.9	$	55.4	$	341.7	$	425.3	$	329.3
Gross life insurance in force	$	143,085.0	$	163,567.6	$	155,267.0	$	166,781.0	$	156,889.0	$	144,139.0
Average face amount for life insurance sales	$	0.6	$	0.9	$	0.9	$	1.0	$	1.3	$	1.2

(1)  Annualized premium represents first year premiums on an annual basis.

(2)  Total premium represents annualized and single premiums.

12

The Phoenix Companies, Inc.

Life Sales

Second Quarter 2010 (unaudited)

($ in millions)

Quarters ended

	2009									2010
	March		June		September		December			March		June
Life Insurance Sales
Wholesaler Channel
Variable universal life	$	2.9	$	3.6	$	0.4	$	---		$	---	$	0.1
Universal life/interest sensitive		11.9		4.2		4.1		0.6			0.9		0.3
Term life		4.0		1.4		---		(0.1	)		---		---
Life insurance annualized premium (1)		18.8		9.2		4.5		0.5			0.9		0.4
Variable universal life		0.6		2.4		0.1		0.1			---		---
Universal life/interest sensitive		9.2		5.7		3.6		0.7			0.8		0.1
Life insurance single premium		9.8		8.1		3.7		0.8			0.8		0.1
Variable universal life		3.5		6.0		0.5		0.1			---		0.1
Universal life/interest sensitive		21.1		9.9		7.7		1.3			1.7		0.4
Term life		4.0		1.4		---		(0.1	)		---		---
Total wholesaler life insurance premium (2)	$	28.6	$	17.3	$	8.2	$	1.3		$	1.7	$	0.5
Gross life insurance in force	$	166,266.7	$	163,567.6	$	159,209.0	$	155,267.0		$	151,669.0	$	143,085.0
Average face amount for life insurance sales	$	0.9	$	0.9	$	1.4	$	(1.4	)	$	0.8	$	0.3

(1)  Annualized premium represents first year premiums on an annual basis.

(2)  Total premium represents annualized and single premiums.

13

The Phoenix Companies, Inc.

Annuity Funds Under Management and

Annuity Supplementary Information

Second Quarter 2010 (unaudited)

($ in millions)

	YTD June						December 31,
	2010			2009			2009			2008			2007			2006
Funds Under Management (FUM)
Deposits	$	46.1		$	117.5		$	142.6		$	628.9		$	630.6		$	423.7
Surrenders		(247.9	)		(322.4	)		(579.9	)		(806.9	)		(940.5	)		(1,383.3	)
Total net sales		(201.8	)		(204.9	)		(437.3	)		(178.0	)		(309.9	)		(959.6	)
Deaths		(28.5	)		(31.8	)		(51.2	)		(75.4	)		(75.9	)		(86.8	)
Interest credited		(85.2	)		202.1			732.8			(1,221.9	)		338.4			537.6
Fees		(28.6	)		(26.7	)		(53.7	)		(55.5	)		(61.1	)		(55.2	)
Change in FUM		(344.1	)		(61.3	)		190.6			(1,530.8	)		(108.5	)		(564.0	)
Beginning balance		3,926.1			3,735.5			3,735.5			5,266.3			5,374.8			5,938.8
Ending fund balance	$	3,582.0		$	3,674.2		$	3,926.1		$	3,735.5		$	5,266.3		$	5,374.8
VA funds in guaranteed interest accounts (1)	$	477.5		$	554.9		$	502.5		$	664.9		$	809.3		$	1,030.8
(1) Amounts are included in the annuity funds under management (FUM) table above.
Variable Annuity Guaranteed Minimum Death Benefits
Death benefit in excess of fund value	$	612.5		$	917.1		$	531.8		$	1,105.5		$	202.4		$	238.8
Death benefit in excess of fund value, net of reinsurance		351.9			572.4			291.6			709.6			46.6			51.4
Statutory reserve, net of reinsurance		9.4			32.4			8.3			39.0			12.9			13.2
Variable Annuity Guaranteed Income Benefits
Account balance	$	476.4		$	468.6		$	525.8		$	464.1		$	716.8		$	620.1
Statutory reserve		55.2			27.9			39.2			34.7			6.9			4.4
Variable Annuity Guaranteed Accumulation Benefits
Account balance	$	381.2		$	360.0		$	417.9		$	335.6		$	389.8		$	210.6
Statutory reserve		23.0			5.0			9.6			4.3			2.3			0.8
Variable Annuity Guaranteed Withdrawal Benefits
Account balance	$	543.6		$	509.3		$	592.2		$	413.2		$	214.6		$	30.1
Statutory reserve		14.0			5.3			12.3			3.5			0.7			0.1
Variable Annuity Guaranteed Payout Annuity Floor
Account balance	$	19.0		$	20.8		$	22.8		$	22.7		$	43.4		$	49.8
Statutory reserve		5.7			10.5			5.5			11.2			2.2			2.1

14

The Phoenix Companies, Inc.

Annuity Funds Under Management and

Annuity Supplementary Information

Second Quarter 2010 (unaudited)

($ in millions)

Quarters ended

		2009												2010
		March			June			September			December			March			June
Funds Under Management (FUM)
Deposits		$	99.6		$	17.9		$	12.6		$	12.5		$	19.3		$	26.8
Surrenders			(174.6	)		(147.8	)		(137.1	)		(120.4	)		(121.6	)		(126.3	)
Total net sales			(75.0	)		(129.9	)		(124.5	)		(107.9	)		(102.3	)		(99.5	)
Deaths			(16.7	)		(15.1	)		(5.9	)		(13.5	)		(15.7	)		(12.8	)
Interest credited			(181.5	)		383.6			386.5			144.2			124.5			(209.7	)
Fees			(11.0	)		(15.7	)		(12.2	)		(14.8	)		(14.6	)		(14.0	)
Change in FUM			(284.2	)		222.9			243.9			8.0			(8.1	)		(336.0	)
Beginning balance			3,735.5			3,451.3			3,674.2			3,918.1			3,926.1			3,918.0
Ending fund balance		$	3,451.3		$	3,674.2		$	3,918.1		$	3,926.1		$	3,918.0		$	3,582.0
VA funds in guaranteed interest accounts (1)		$	608.0		$	554.9		$	528.9		$	502.5		$	489.8		$	477.5
(1)	Amounts are included in the annuity funds under management (FUM) table above.
Variable Annuity Guaranteed Minimum Death Benefits
Death benefit in excess of fund value		$	1,251.9		$	917.1		$	626.3		$	531.8		$	453.3		$	612.5
Death benefit in excess of fund value, net of reinsurance			821.1			572.4			360.0			291.6			233.8			351.9
Statutory reserve, net of reinsurance			49.0			32.4			22.0			8.3			7.4			9.4
Variable Annuity Guaranteed Income Benefits
Account balance		$	419.8		$	468.6		$	519.0		$	525.8		$	530.2		$	476.4
Statutory reserve			72.7			27.9			13.4			39.2			33.1			55.2
Variable Annuity Guaranteed Accumulation Benefits
Account balance		$	311.9		$	360.0		$	407.7		$	417.9		$	425.4		$	381.2
Statutory reserve			4.6			5.0			5.5			9.6			7.4			23.0
Variable Annuity Guaranteed Withdrawal Benefits
Account balance		$	436.0		$	509.3		$	574.3		$	592.2		$	601.1		$	543.6
Statutory reserve			4.3			5.3			6.3			12.3			6.0			14.0
Variable Annuity Guaranteed Payout Annuity Floor
Account balance		$	18.9		$	20.8		$	5.5		$	22.8		$	22.6		$	19.0
Statutory reserve			13.1			10.5			7.7			5.5			4.3			5.7

15

The Phoenix Companies, Inc.

Deferred Policy Acquisition Costs

Second Quarter 2010 (unaudited)

($ in millions)

	YTD June						December 31,
	2010			2009			2009			2008			2007			2006
Deferred Policy Acquisition Costs:
Variable universal life	$	258.0		$	314.6		$	275.1		$	324.2		$	355.0		$	360.5
Universal life		728.1			931.0			820.2			970.4			796.7			529.8
Variable annuities		158.0			157.8			172.7			155.6			270.8			264.2
Fixed annuities		6.5			5.2			6.2			6.5			12.8			20.3
Traditional life		448.9			480.9			455.8			478.6			566.9			559.0
Offset for unrealized investment gains or losses		38.5			528.0			186.0			773.0			63.7			0.3
Total deferred policy acquisition costs	$	1,638.0		$	2,417.5		$	1,916.0		$	2,708.3		$	2,065.9		$	1,734.1
Deferred Policy Acquisition Costs:
Policy acquisition costs deferred	$	3.5		$	52.9		$	67.6		$	339.6		$	461.3		$	326.4
Costs amortized to expenses:
Recurring costs		(134.3	)		(99.0	)		(266.4	)		(431.8	)		(192.7	)		(148.6	)
Realized investment gains or losses		0.2			5.6			5.8			25.8			(0.2	)		3.4
Offsets to net unrealized investment gains or losses
included in accumulated other comprehensive income		(147.4	)		(244.9	)		(587.0	)		709.3			63.4			16.2
Cumulative effect of adoption of new guidance		---			(4.6	)		(4.7	)		---			---			---
Other		---			(0.8	)		(7.6	)		(0.5	)		---			---
Change in deferred policy acquisition costs		(278.0	)		(290.8	)		(792.3	)		642.4			331.8			197.4
Deferred policy acquisition costs, beginning of period		1,916.0			2,708.3			2,708.3			2,065.9			1,734.1			1,536.7
Deferred policy acquisition costs, end of period	$	1,638.0		$	2,417.5		$	1,916.0		$	2,708.3		$	2,065.9		$	1,734.1

16

The Phoenix Companies, Inc.

Deferred Policy Acquisition Costs

Second Quarter 2010 (unaudited)

($ in millions)

Quarters ended

	2009												2010
	March			June			September			December			March			June
Deferred Acquisition Costs:
Variable universal life	$	317.5		$	314.6		$	306.3		$	275.1		$	267.0		$	258.0
Universal life		949.6			931.0			886.6			820.2			773.4			728.1
Variable annuities		146.3			157.8			158.9			172.7			168.6			158.0
Fixed annuities		5.5			5.2			4.8			6.2			6.3			6.5
Traditional life		481.5			480.9			478.9			455.8			450.4			448.9
Offset for unrealized investment gains or losses		757.4			528.0			236.6			186.0			77.3			38.5
Total deferred policy acquisition costs	$	2,657.8		$	2,417.5		$	2,072.1		$	1,916.0		$	1,743.0		$	1,638.0
Deferred Policy Acquisition Costs:
Policy acquisition costs deferred	$	35.4		$	17.5		$	10.0		$	4.7		$	3.8			(0.3	)
Costs amortized to expenses:
Recurring costs		(66.0	)		(33.0	)		(63.0	)		(104.4	)		(67.0	)		(67.3	)
Realized investment gains or losses		0.4			5.2			(1.1	)		1.3			(1.2	)		1.4
Offsets to net unrealized investment gains or losses
included in accumulated other comprehensive income		(15.6	)		(229.3	)		(291.4	)		(50.7	)		(108.6	)		(38.8	)
Cumulative effect of adoption of new guidance		(4.7	)		0.1			(0.1	)		---			---			---
Other		---			(0.8	)		0.2			(7.0	)		---			---
Change in deferred policy acquisition costs		(50.5	)		(240.3	)		(345.4	)		(156.1	)		(173.0	)		(105.0	)
Deferred policy acquisition costs, beginning of period		2,708.3			2,657.8			2,417.5			2,072.1			1,916.0			1,743.0
Deferred policy acquisition costs, end of period	$	2,657.8		$	2,417.5		$	2,072.1		$	1,916.0		$	1,743.0		$	1,638.0

17

The Phoenix Companies, Inc.

Consolidated Statement of Income - GAAP Format (1)

Second Quarter 2010 (unaudited)

($ in millions)

	YTD June						December 31,
	2010			2009			2009			2008			2007			2006
REVENUES
Premiums	$	307.2		$	342.8		$	684.2		$	765.9		$	798.3		$	839.7
Fee income		318.1			309.7			648.1			601.3			499.4			399.5
Net investment income		421.7			379.2			787.2			913.1			1,057.4			1,046.8
Net realized investment losses:
Total other-than-temporary impairment ("OTTI") losses		(55.2	)		(96.9	)		(201.5	)		(245.0	)		(51.9	)		(8.9	)
Portion of OTTI losses recognized in other comprehensive income		28.3			37.7			93.1			---			---			---
Net OTTI losses recognized in earnings		(26.9	)		(59.2	)		(108.4	)		(245.0	)		(51.9	)		(8.9	)
Net realized investment gains (losses), excluding OTTI losses		60.4			(1.6	)		6.2			(50.8	)		45.9			84.1
Net realized investment gains (losses)		33.5			(60.8	)		(102.2	)		(295.8	)		(6.0	)		75.2
Total revenues		1,080.5			970.9			2,017.3			1,984.5			2,349.1			2,361.2
BENEFITS AND EXPENSES
Policy benefits, excluding policyholder dividends		605.8			660.2			1,279.9			1,362.3			1,312.4			1,335.9
Policyholder dividends		160.2			84.4			226.8			207.5			380.0			399.1
Policy acquisition cost amortization		134.1			93.4			260.6			406.0			192.9			145.4
Interest expense on indebtedness		15.9			16.8			33.1			36.7			44.2			49.2
Interest expense on non-recourse collateralized obligations		---			---			---			11.8			15.4			18.7
Other operating expenses		155.2			150.3			303.5			254.9			270.1			249.5
Total benefits and expenses		1,071.2			1,005.1			2,103.9			2,279.2			2,215.0			2,197.8
Income (loss) from continuing operations before income taxes		9.3			(34.2	)		(86.6	)		(294.7	)		134.1			163.4
Income tax expense (benefit)		---			122.3			109.1			(118.2	)		20.4			50.8
Income (loss) from continuing operations		9.3			(156.5	)		(195.7	)		(176.5	)		113.7			112.6
Income (loss) from discontinued operations, net of income taxes		14.7			(29.5	)		(123.3	)		(549.5	)		3.9			(17.3	)
Net income (loss)	$	24.0		$	(186.0	)	$	(319.0	)	$	(726.0	)	$	117.6		$	95.3

(1)   Certain reclassifications have been made to prior periods to conform with the current presentation.

18

The Phoenix Companies, Inc.

Consolidated Statement of Income - GAAP Format (1)

Second Quarter 2010 (unaudited)

($ in millions)

Quarters Ended

	2009												2010
	March			June			September			December			March			June
REVENUES
Premiums	$	172.2		$	170.6		$	171.0		$	170.5		$	151.7		$	155.5
Fee income		154.0			155.7			166.3			172.1			162.5			155.6
Net investment income		184.9			194.3			200.5			207.4			204.7			217.0
Net realized investment losses:
Total other-than-temporary impairment ("OTTI") losses		(57.7	)		(39.2	)		(37.7	)		(66.8	)		(31.4	)		(23.8	)
Portion of OTTI losses recognized in other comprehensive income		19.4			18.3			22.8			32.6			16.9			11.4
Net OTTI losses recognized in earnings		(38.3	)		(20.9	)		(14.9	)		(34.2	)		(14.5	)		(12.4	)
Net realized investment gains (losses), excluding OTTI losses		63.7			(65.3	)		(2.5	)		10.2			17.5			42.9
Net realized investment gains (losses)		25.4			(86.2	)		(17.4	)		(24.0	)		3.0			30.5
Total revenues		536.5			434.4			520.4			526.0			521.9			558.6
BENEFITS AND EXPENSES
Policy benefits, excluding policyholder dividends		316.2			343.9			305.6			314.1			288.6			317.2
Policyholder dividends		37.8			46.6			63.9			78.5			62.7			97.5
Policy acquisition cost amortization		65.6			27.8			64.0			103.2			68.2			65.9
Interest expense on indebtedness		8.5			8.3			8.2			8.0			8.0			7.9
Other operating expenses		76.0			74.5			88.1			65.2			80.2			75.0
Total benefits and expenses		504.1			501.1			529.8			569.0			507.7			563.5
Income (loss) from continuing operations before income taxes		32.4			(66.7	)		(9.4	)		(43.0	)		14.2			(4.9	)
Income tax expense (benefit)		105.7			16.5			(11.2	)		(2.0	)		0.2			(0.2	)
Income (loss) from continuing operations		(73.3	)		(83.2	)		1.8			(41.0	)		14.0			(4.7	)
Income (loss) from discontinued operations, net of income taxes		(1.5	)		(28.0	)		(28.4	)		(65.4	)		(0.3	)		15.0
Net income (loss)	$	(74.8	)	$	(111.2	)	$	(26.6	)	$	(106.4	)	$	13.7		$	10.3

(1)   Certain reclassifications have been made to prior periods to conform with the current presentation.

19

The Phoenix Companies, Inc.

Condensed Consolidated Balance Sheet - Preliminary

Second Quarter 2010 (unaudited)

($ in millions)

	YTD June			December 31,
	2010			2009			2008			2007			2006
ASSETS:
Available-for-sale debt securities, at fair value	$	10,812.7		$	10,345.5		$	9,826.4		$	11,968.0		$	12,696.8
Available-for-sale equity securities, at fair value		37.7			25.2			25.2			191.8			173.6
Venture capital partnerships, at equity in net assets		206.9			188.6			200.8			173.7			116.8
Policy loans, at unpaid principal balances		2,337.6			2,324.4			2,477.5			2,346.8			2,295.7
Other investments		599.8			539.7			616.9			507.3			433.3
Fair value option investments		60.8			69.3			84.1			---			---
		14,055.5			13,492.7			13,230.9			15,187.6			15,716.2
Available-for-sale debt and equity securities pledged
as collateral, at fair value		---			---			148.0			219.1			267.8
Total investments		14,055.5			13,492.7			13,378.9			15,406.7			15,984.0
Cash and cash equivalents		119.8			257.7			377.0			531.9			362.8
Accrued investment income		181.0			176.4			203.3			209.5			215.7
Receivables		417.2			356.6			358.0			279.3			137.2
Deferred policy acquisition costs		1,638.0			1,916.0			2,708.3			2,065.9			1,734.0
Deferred income taxes		233.2			166.2			435.2			33.5			37.4
Other assets		185.5			195.8			211.0			174.4			174.6
Discontinued operations assets		69.6			3,620.8			4,276.8			6,018.4			5,079.2
Separate account assets		3,974.5			4,418.1			3,860.1			5,781.2			5,403.2
Total assets	$	20,874.3		$	24,600.3		$	25,808.6		$	30,500.8		$	29,128.1
LIABILITIES:
Policy liabilities and accruals	$	13,150.7		$	13,151.1		$	13,932.9		$	13,952.0		$	13,482.3
Policyholder deposit funds		1,369.5			1,342.7			1,616.6			1,808.9			2,228.4
Indebtedness		427.7			428.0			458.0			627.7			628.2
Other liabilities		585.7			527.8			645.6			473.4			467.9
Discontinued operations liabilities		59.0			3,601.5			4,185.1			5,260.7			4,342.6
Non-recourse collateralized debt obligations		---			---			245.2			317.9			344.0
Separate account liabilities		3,974.5			4,418.1			3,860.1			5,781.2			5,403.2
Total liabilities		19,567.1			23,469.2			24,943.5			28,221.8			26,896.6
STOCKHOLDERS' EQUITY:
Common stock, $.01 par value:  116.0 million and 115.7 million shares outstanding		1.3			1.3			1.3			1.3			1.3
Additional paid-in capital		2,629.3			2,627.3			2,626.4			2,616.1			2,600.3
Accumulated deficit		(1,122.7	)		(1,146.7	)		(839.5	)		(20.7	)		(115.9	)
Accumulated other comprehensive loss		(21.2	)		(171.3	)		(743.6	)		(138.2	)		(74.7	)
Treasury stock, at cost:  11.3 million and 11.3 million shares		(179.5	)		(179.5	)		(179.5	)		(179.5	)		(179.5	)
Total stockholders' equity		1,307.2			1,131.1			865.1			2,279.0			2,231.5
Total liabilities and stockholders' equity	$	20,874.3		$	24,600.3		$	25,808.6		$	30,500.8		$	29,128.1

20

The Phoenix Companies, Inc.

General Account Investment Portfolio Summary (1)

Second Quarter 2010 (unaudited)

($ millions)

	Total Debt Securities						Public Debt Securities						Private Debt Securities
	6/30/2010			12/31/2009			6/30/2010			12/31/2009			6/30/2010			12/31/2009
Debt Securities by Credit Quality (Carrying Value)
AAA/AA/A	$	6,340.9		$	5,843.0		$	4,979.2		$	4,559.2		$	1,361.7		$	1,283.8
BBB		3,485.0			3,389.0			2,071.6			2,043.7			1,413.4			1,345.3
Total Investment Grade		9,825.9			9,232.0			7,050.8			6,602.9			2,775.1			2,629.1
BB		543.4			644.1			357.4			402.6			186.0			241.5
B		194.1			231.0			106.1			124.3			88.0			106.7
CCC and Lower		162.0			150.5			75.5			86.7			86.5			63.8
In or Near Default		87.3			87.9			68.8			59.8			18.5			28.1
Total Debt Securities	$	10,812.7		$	10,345.5		$	7,658.6		$	7,276.3		$	3,154.1		$	3,069.2
% Below Investment Grade		9.1	%		10.8	%		7.9	%		9.3	%		12.0	%		14.3	%
Unrealized Gains and Losses on Debt and Equity Securities
As of 6/30/10
	Total						Outside Closed Block						Closed Block
	Gains			Losses			Gains			Losses			Gains			Losses
Total Debt Securities	$	588.4		$	(473.2	)	$	187.0		$	(286.0	)	$	401.4		$	(187.2	)
Equity Securities		15.0			(2.3	)		8.8			(1.3	)		6.2			(1.0	)
Total Unrealized Gains (Losses)		603.4			(475.5	)		195.8			(287.3	)		407.6			(188.2	)
Applicable PDO		407.6			(188.2	)		---			---			407.6			(188.2	)
Applicable DAC (Credit)		123.7			(162.2	)		123.7			(162.2	)		---			---
Applicable Deferred Income Tax (Benefit)		25.2			(43.8	)		25.2			(43.8	)		---			---
Total Offsets to Net Unrealized Gains (Losses)		556.5			(394.2	)		148.9			(206.0	)		407.6			(188.2	)
Net Unrealized Gains (Losses)	$	46.9		$	(81.3	)	$	46.9		$	(81.3	)	$	0.0		$	0.0
Net Unrealized Losses	$	(34.4	)				$	(34.4	)				$	0.0

(1)   Excludes debt and equity securities pledged as collateral.

21

The Phoenix Companies, Inc.

General Account GAAP Net Investment Income Yields (1)

Second Quarter 2010 (unaudited)

($ in millions)

Quarters ended

	YTD June						December 31,
	2010			2009			2009			2008			2007			2006
GAAP Net Investment Income
Debt securities	$	304.6		$	341.1		$	649.4		$	707.1		$	775.0		$	800.7
Equity securities		0.7			0.3			0.4			4.3			8.2			7.0
Mortgages		0.4			0.4			0.7			1.0			1.7			6.2
Policy loans		85.5			97.9			183.6			187.0			179.5			169.3
Venture capital		17.2			(30.5	)		(25.9	)		(4.7	)		27.0			3.3
Cash and cash equivalents		0.1			0.1			0.3			7.5			18.8			16.3
Other income		0.9			2.0			3.3			3.8			8.3			---
Fair value option investments		0.9			(0.5	)		1.5			---			---			---
Other investments (2)		18.8			(25.2	)		(14.3	)		13.4			43.9			40.0
Total cash and invested assets		429.1			385.6			799.0			919.4			1,062.4			1,042.8
Discontinued operations		3.3			1.9			4.3			6.0			11.2			9.9
Investment expenses		4.1			4.5			7.5			8.2			9.6			5.3
Total net investment income	$	421.7		$	379.2		$	787.2		$	905.2		$	1,041.6		$	1,027.6
Annualized Yields
Debt securities		5.9	%		7.1	%		6.4	%		7.1	%		6.6	%		6.5	%
Equity securities		4.0	%		2.5	%		1.7	%		4.6	%		4.1	%		3.7	%
Mortgages		12.5	%		8.2	%		8.0	%		8.7	%		11.0	%		8.1	%
Policy loans		7.6	%		7.8	%		8.0	%		7.7	%		7.9	%		7.6	%
Venture capital		18.5	%		-28.6	%		-12.9	%		-2.3	%		17.3	%		2.7	%
Cash and cash equivalents		0.1	%		0.2	%		0.2	%		2.2	%		4.1	%		4.7	%
Other investments (2)		7.3	%		-8.4	%		-2.6	%		2.4	%		11.6	%		13.6	%
Total cash and invested assets		6.3	%		5.9	%		6.0	%		6.8	%		7.0	%		6.7	%
Investment expenses and discontinued operations		0.1	%		0.1	%		0.1	%		0.1	%		0.1	%		0.1	%
Total net investment income yields		6.2	%		5.8	%		5.9	%		6.7	%		6.9	%		6.6	%

(1)   Excludes debt and equity securities pledged as collateral.

(2)   Includes real estate, affiliates and other invested assets.

22

The Phoenix Companies, Inc.

General Account GAAP Net Investment Income Yields (1)

Second Quarter 2010 (unaudited)

($ in millions)

Quarters ended

	2009												2010
	March			June			September			December			March			June
GAAP Net Investment Income
Debt securities	$	176.4		$	164.7		$	154.8		$	153.5		$	154.4		$	150.2
Equity securities		---			0.3			0.1			---			0.1			0.6
Mortgages		0.2			0.2			0.1			0.2			0.1			0.3
Policy loans		47.4			50.5			42.0			43.7			43.4			42.1
Venture capital		(20.5	)		(10.0	)		2.0			2.6			5.3			11.9
Cash and cash equivalents		0.1			---			---			0.2			---			0.1
Other income		1.8			0.2			0.4			0.9			0.2			0.7
Fair value option investments		(1.5	)		1.0			1.4			0.6			0.7			0.2
Other investments (2)		(15.6	)		(9.6	)		2.4			8.5			4.3			14.5
Total cash and invested assets		188.3			197.3			203.2			210.2			208.5			220.6
Discontinued operations		1.0			0.9			1.2			1.2			1.7			1.6
Investment expenses		2.4			2.1			1.4			1.6			2.1			2.0
Total net investment income	$	184.9		$	194.3		$	200.6		$	207.4		$	204.7		$	217.0
Annualized Yields
Debt securities		7.4	%		6.8	%		6.2	%		6.0	%		6.2	%		5.9	%
Equity securities		0.0	%		5.0	%		1.7	%		0.0	%		1.4	%		7.0	%
Mortgages		7.5	%		8.2	%		4.2	%		9.1	%		4.7	%		19.4	%
Policy loans		7.7	%		8.0	%		6.9	%		7.6	%		7.7	%		7.5	%
Venture capital		-35.2	%		-19.7	%		4.5	%		5.7	%		11.6	%		26.5	%
Cash and cash equivalents		0.2	%		0.0	%		0.0	%		0.4	%		0.0	%		0.1	%
Other investments (2)		-9.8	%		-6.5	%		1.8	%		6.5	%		3.3	%		11.5	%
Total cash and invested assets		5.7	%		6.0	%		6.1	%		6.3	%		6.2	%		6.5	%
Investment expenses and discontinued operations		0.1	%		0.1	%		0.1	%		0.1	%		0.1	%		0.1	%
Total net investment income yields		5.6	%		5.9	%		6.0	%		6.2	%		6.1	%		6.4	%

(1)   Excludes debt and equity securities pledged as collateral.

(2)   Includes real estate, affiliates and other invested assets.

23

The Phoenix Companies, Inc.

General Account Realized Investment Gains and Losses

Second Quarter 2010 (unaudited)

($ millions)

	YTD June						December 31,
	2010			2009			2009			2008			2007			2006
Realized Investment Gains and Losses
Debt security	$	(26.4	)	$	(50.5	)	$	(93.0	)	$	(224.0	)	$	(46.7	)	$	(7.9	)
Equity security		(0.5	)		---			(5.2	)		(2.7	)		(0.5	)		---
Debt and equity securities pledged as collateral		---			---			---			(2.3	)		(0.8	)		(1.0	)
Other invested asset		---			(8.7	)		(10.2	)		(16.0	)		(3.9	)		---
Total impairment losses		(26.9	)		(59.2	)		(108.4	)		(245.0	)		(51.9	)		(8.9	)
Debt security net transaction		38.9			(32.2	)		(23.8	)		(9.8	)		11.6			42.0
Equity security net transaction		---			2.2			2.2			(29.5	)		9.5			21.9
Venture capital net investment		---			(1.0	)		(3.6	)		(3.0	)		---			2.4
Mortgage loan net transaction		0.2			(0.1	)		(0.1	)		(0.1	)		1.4			3.2
Affiliate equity security transaction		---			---			---			---			13.7			10.4
Real estate net transaction		---			---			---			2.4			1.4			---
Other invested asset net transactions		(1.6	)		0.2			1.5			(0.9	)		3.7			2.9
Debt and equity securities pledged as collateral		---			---			---			2.2			1.8			---
CDO deconsolidation		---			57.0			57.0			---			---			---
Total net transactions		37.5			26.1			33.2			(38.7	)		43.1			82.8
Realized gains (losses) on fair value option securities		(0.4	)		0.6			4.0			(18.4	)		3.8			1.4
Realized losses on derivative assets and liabilities		23.3			(28.3	)		(31.0	)		6.3			(1.0	)		(0.1	)
Net realized investment gains (losses)		33.5			(60.8	)		(102.2	)		(295.8	)		(6.0	)		75.2
Closed block applicable PDO (reduction)		11.4			(27.8	)		(40.5	)		(120.2	)		4.4			46.0
Applicable deferred acquisition costs (credit)		(0.2	)		(5.5	)		(5.8	)		(25.7	)		0.2			(3.5	)
Applicable deferred income tax (credit)		3.3			(4.1	)		(5.4	)		(42.8	)		(7.0	)		11.3
Debt and equity securities pledged as collateral		---			---			---			(0.1	)		(0.8	)		(1.0	)
Change in fair value of deferred compensation		(0.4	)		0.6			4.0			(18.4	)		3.8			1.4
Net realized investment gains (losses) included in net income (loss)	$	19.4		$	(24.0	)	$	(54.5	)	$	(88.6	)	$	(6.6	)	$	21.0

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The Phoenix Companies, Inc.

General Account Realized Investment Gains and Losses

Second Quarter 2010 (unaudited)

($ millions)

Quarters ended

	2009												2010
	March			June			September			December			March			June
Realized Investment Gains and Losses
Debt security	$	(31.4	)	$	(19.1	)	$	(10.3	)	$	(32.1	)	$	(14.2	)	$	(12.2	)
Equity security		---			---			(3.5	)		(1.7	)		(0.3	)		(0.2	)
Other invested asset		(6.9	)		(1.8	)		(1.1	)		(0.4	)		---			---
Total impairment losses		(38.3	)		(20.9	)		(14.9	)		(34.2	)		(14.5	)		(12.4	)
Debt security net transaction		0.7			(32.8	)		(8.2	)		16.5			17.9			21.0
Equity security net transaction		2.2			---			---			---			---			---
Venture capital net investment		0.4			(1.4	)		(0.3	)		(2.3	)		---			---
Mortgage loan net transaction		(0.1	)		---			---			---			---			0.2
Other invested asset net transactions		(0.3	)		0.4			(0.2	)		1.5			(4.2	)		2.6
CDO deconsolidation		57.0			---			---			---			---			---
Total net transactions		59.9			(33.8	)		(8.7	)		15.7			13.7			23.8
Realized gains (losses) on fair value option securities		(2.3	)		2.9			2.7			0.7			0.2			(0.6	)
Realized losses on derivative assets and liabilities		6.1			(34.4	)		3.5			(6.2	)		3.6			19.7
Net realized investment gains (losses)		25.4			(86.2	)		(17.4	)		(24.0	)		3.0			30.5
Closed block applicable PDO (reduction)		(12.5	)		(15.3	)		(9.4	)		(3.2	)		(5.6	)		17.0
Applicable deferred acquisition costs (credit)		(0.4	)		(5.1	)		1.0			(1.3	)		1.2			(1.4	)
Applicable deferred income tax (credit)		(4.2	)		0.1			10.8			(13.4	)		2.9			0.4
Change in fair value of deferred compensation		(2.3	)		2.9			2.7			0.7			0.2			(0.6	)
Net realized investment gains (losses) included in net income (loss)	$	44.8		$	(68.8	)	$	(22.5	)	$	(6.8	)	$	4.3		$	15.1

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