Milestone Reflects Over 100,000 Participants
Who Will Now Receive Retirement Payments
from F&G
DES
MOINES, Iowa, May 8, 2024
/PRNewswire/ -- F&G Annuities & Life, Inc. (NYSE: FG)
("F&G" or "Company"), a leading provider of insurance solutions
serving retail annuity and life customers and institutional
clients, today announced cumulative sales of pension risk transfer
(PRT) transactions of over $5 billion
since the channel was launched in June
2021.
Since its inception nearly three years ago, the Company's PRT
channel, one of F&G's institutional markets, now includes more
than 100,000 total participants, including beneficiaries, who will
receive their pension payments from F&G.
"In just under three years, F&G has become a meaningful
player in the PRT space as demonstrated by this significant sales
milestone," said Matt Christensen, Executive Vice President of
PRT at F&G. "Our continued success is a reflection not only of
F&G's overall growth and diversification, but the ability of
our best-in-class PRT team to execute at the highest level in this
competitive marketplace."
F&G's disciplined growth reflects the Company's ability to
maintain profitability while managing risk and leveraging its
overall financial and investment strengths. F&G's growth was
also supported by two financial strength rating upgrades, from
Moody's Ratings and A.M. Best, achieved over the past year.
F&G has consistently maintained a top ten ranking in the PRT
market1 since the channel launched in 2021.
"F&G has developed an efficient and effective approach to
how we successfully design, execute and close pension risk transfer
transactions alongside our consultant and plan sponsor clients,"
said Jay Dinunzio, Senior Vice
President of PRT Sales and Operations at F&G. "Successful
PRT transactions require strong intermediary relationship
management, competitive product pricing and outstanding post-sale
administration conversion execution. Our PRT team has quickly built
an impressive track record, and we look forward to continued
momentum as we help secure more pension benefits while minimizing
the impact to pension funding levels."
To learn more, please visit:
https://www.fglife.com/institutional/plan-sponsor
About F&G
F&G is committed to helping Americans turn their aspirations
into reality. F&G is a leading provider of insurance solutions
serving retail annuity and life customers and institutional clients
and is headquartered in Des Moines,
Iowa. For more information, please
visit https://www.fglife.com/.
Contact:
Lisa Foxworthy-Parker
SVP of Investor & External Relations
Investor.relations@fglife.com
515.330.3307
1LIMRA U.S. Group Annuity Risk Transfer Sales
Survey
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SOURCE F&G Annuities & Life, Inc.