PR Newswire
DES MOINES, Iowa, May 8, 2024
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
[email protected]
515.330.3307
1LIMRA U.S. Group Annuity Risk Transfer Sales Survey
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SOURCE F&G Annuities & Life, Inc.
