HARTFORD, Conn. -- The Phoenix Companies, Inc. (NYSE: PNX) today announced that Thomas Buckingham has been promoted to senior vice president, Product Development for Life and Annuity, reporting to Philip Polkinghorn, senior executive vice president and president, Life and Annuity.

"Innovative products are the heart of our business and we are committed to continuing this competitive advantage for Phoenix," Polkinghorn said. "Tom has the knowledge and skills as a product actuary and, over the past few years, has deepened his leadership skills and expanded his perspective through a variety of corporate rotational assignments, including as chief of staff to the CEO. His recent experience launching and leading the operational transformation of our Life business gave him unprecedented access to evaluate and improve the entire service platform for our customers and advisors. I've worked closely with Tom and it is gratifying we can fill this critical position with such strong in-house talent."

Buckingham previously was vice president, Life and Annuity Operations Transformation, responsible for leading the transformation to a new operational structure for serving life insurance clients and their financial advisors. Operations Transformation created service teams aligned to the company's distribution channels, implemented process improvement within those channels, and oversaw technology improvements to support the new model.

In his new role, he will be responsible for product creation, pricing, analysis and implementation. Also reporting to Buckingham are research and concept development, which is responsible for the annual Phoenix Wealth Survey of high-net-worth investors, and SEC and state compliance.

Buckingham joined Phoenix as an actuarial assistant in 1999 and served in increasingly senior actuarial positions, including distribution compensation, life product development and strategic development, before serving as chief of staff to Dona D. Young, chairman, president and chief executive officer.

He is a fellow of the Society of Actuaries and holds a bachelor's degree in mathematics and an M.B.A. in management from Rensselaer Polytechnic Institute.

Phoenix offers a full portfolio of life insurance products including universal life, variable universal life and term products, and the company's underwriting capabilities accommodate a range of customers and risk situations and address clients' estate, business and retirement planning strategies. Phoenix also offers a complete suite of annuity products with a full spectrum of optional guarantees, and with expert technical analysis of complex annuity contracts to help customers own the right products to fit their unique needs.