Encova Personal Lines to exit Phenix Mutual states

After a thorough evaluation, we have made the difficult decision to not introduce our new personal lines Exceed products and technology platform to Maine, Massachusetts, New Hampshire, Rhode Island, South Carolina and Vermont.

Our assessment of these states concluded there are several barriers to entering these markets that would direct our focus away from the eight states where we have introduced our new products. Additionally, we need to focus our resources on the conversion of the remaining legacy personal lines business to the new technology platform, growing the Exceed states and continuous improvement of our new personal lines solution.

In our continued efforts to manage expenses and sunset our legacy platforms, we will no longer accept new business in these states as of Sept. 1, 2021, and we plan to begin non-renewing policyholders as of March 2, 2022, subject to regulatory approval.