F&G Annuities & Life, Inc. (F&G) is a leading provider of annuity and life insurance products, dedicated to helping individuals achieve their financial aspirations. With a mission to improve the financial lives of more people daily, F&G offers a diverse range of solutions tailored to meet the needs of retirees and those planning for retirement. The company's vision emphasizes a culture of mutual respect and a commitment to delivering value to its customers.
Key Strategic Focus
F&G's strategic objectives center on expanding its market presence through diversified product offerings and distribution channels. The company specializes in fixed indexed annuities (FIA), multi-year guaranteed annuities (MYGA), and indexed universal life (IUL) insurance products. Leveraging a strategic partnership with Blackstone, F&G enhances its investment capabilities, providing a competitive edge in asset management. The primary markets targeted include retirees and pre-retirees seeking reliable income streams and wealth transfer solutions.
Financials and Funding
F&G has demonstrated disciplined and profitable growth over recent years. In 2021, the company reported adjusted net earnings of $551 million, reflecting a 44% compound annual growth rate from 2019. Total gross sales reached $9.6 billion in 2021, with assets under management (AUM) growing to $36.5 billion by year-end. The company's capital structure remains robust, with a debt-to-capital ratio of 20.2% as of December 31, 2021. F&G's financial strength is further underscored by ratings of A- from A.M. Best, S&P Global, and Fitch Ratings, and Baa1 from Moody's.
Pipeline Development
F&G continues to innovate its product portfolio to meet evolving customer needs. In 2024, the company launched an enhanced suite of retirement income solutions focused on guaranteed lifetime income, aiming to provide more comprehensive options for retirees. Additionally, F&G has expanded into the pension risk transfer market, completing transactions totaling approximately $2.3 billion in plan value from inception through August 2022.
Technological Platform and Innovation
F&G's partnership with Blackstone serves as a cornerstone of its investment strategy, granting access to a world-class asset management platform. This collaboration enables F&G to invest in a high-quality, well-diversified portfolio, aligning with its liability profile and risk appetite. The company's investment approach focuses on assets that match its stable and predictable liability profile, incorporating illiquidity and complexity premiums to enhance yields without added credit risk.
Leadership Team
- Chris Blunt, Chief Executive Officer since January 2019, brings extensive experience in the insurance and financial services industry.
- Conor Murphy, Director of Finance/CFO since April 2025, oversees the company's financial operations and strategic planning.
- John Currier, President since May 2024, leads the company's operational and strategic initiatives.
- Leena Punjabi, Chief Investment Officer since January 2019, manages F&G's investment strategies and portfolio management.
Leadership Changes
Recent leadership appointments include Conor Murphy as CFO in April 2025 and John Currier as President in May 2024, reflecting F&G's commitment to strengthening its executive team to support ongoing growth and innovation.
Competitor Profile
Market Insights and Dynamics
The annuity and life insurance market is substantial and growing, driven by an aging population and increasing demand for retirement income solutions. F&G operates in a competitive landscape alongside key players such as Equitable, Aegon, and Globe Life.
Competitor Analysis
- Equitable: With a market capitalization of $17.05 billion and annual revenue of $12.44 billion, Equitable offers a broad range of financial products and services, including life insurance and annuities.
- Aegon: A global provider of life insurance, pensions, and asset management, Aegon has a market capitalization of $15.96 billion and annual revenue of $10.65 billion.
- Globe Life: Specializing in life and supplemental health insurance, Globe Life has a market capitalization of $10.27 billion and annual revenue of $5.78 billion.
Strategic Collaborations and Partnerships
F&G's strategic partnership with Blackstone enhances its investment management capabilities, providing access to a diverse range of asset classes and investment opportunities. This collaboration supports F&G's ability to offer competitive products and achieve favorable investment returns.
Operational Insights
F&G's diversified distribution strategy includes partnerships with independent marketing organizations (IMOs), banks, and broker-dealers. This approach has enabled the company to achieve significant growth across multiple channels, with total gross sales increasing at a 57% compound annual growth rate from 2019 to 2021.
Strategic Opportunities and Future Directions
Looking ahead, F&G aims to continue expanding its product offerings and distribution channels to capture a larger share of the growing retirement income market. The company plans to leverage its partnership with Blackstone to explore new investment opportunities and enhance product competitiveness. Additionally, F&G is focused on maintaining financial strength and operational efficiency to support sustainable growth and shareholder value.
Contact Information
- Website: F&G Annuities & Life
- LinkedIn: F&G Annuities & Life
F&G's commitment to innovation, strategic partnerships, and customer-centric solutions positions it as a formidable player in the annuity and life insurance industry.
