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F&G Annuities & Life Surpasses $5 Billion in Pension Risk Transfers, Showcasing Industry Leadership


Benjamin Hughes

May 8, 2024 - 20:25 pm


F&G Annuities & Life Reaches Remarkable $5 Billion Sales Milestone in Pension Risk Transfers

DES MOINES, Iowa, May 8, 2024 – Today, in a landmark financial announcement, F&G Annuities & Life Inc., a leading figurehead in the provision of insurance solutions to both individual retail annuity and life customers as well as institutional clientele, declared an extraordinary accomplishment. They have reached an aggregate of $5 billion in pension risk transfer (PRT) sales since the initiative’s onset in June 2021.

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In what has been an impressive span of nearly three years, F&G’s PRT sector – a noteworthy division within the company's institutional marketplace – now encompasses over 100,000 participants. This significant cohort includes beneficiaries who are slated to receive their pension disbursements from F&G, marking a momentous occasion for the organization.

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Matt Christensen, the Executive Vice President of PRT at F&G, expressed his views on this significant milestone, "In a timeframe of just under three years, our company has swiftly ascended to become a considerable pillar within the PRT arena. This accomplishment can be traced back to a myriad of factors — our overall expansion, the diversification of our portfolio, and the execution prowess of our unparalleled PRT team who operate at the zenith of this competitive industry."

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This trajectory of disciplined expansion is reflective of F&G's overarching competency in maintaining profitability with an astute eye on risk management. Furthermore, their capacity to harness both their fiscal and investment fortitude is evident. The company's strategic growth has been further bolstered by receiving dual financial strength rating enhancements by esteemed rating agencies Moody's Ratings and A.M. Best within the previous twelve months. Since its establishment, F&G has maintained a consistent position in the top ten ranks of the PRT market.

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The Senior Vice President of PRT Sales and Operations at F&G, Jay Dinunzio, shed light on the methodology that underpins the company's continued success, "Perfecting PRT deals involves a concoction of robust intermediary relations, competitive product quotes, and seamless post-sale administrative execution. Our team has rapidly accumulated a remarkable résumé by carrying out such complex transactions with finesse. Looking ahead, we are poised for sustained propulsion in this sector, as we assist in securing pension benefits yet significantly tempering the influence on pension funding standards."

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Those interested in gaining a deeper understanding of these transactions and F&G's role within them are encouraged to visit their detailed web resource. For further information, please visit the F&G Institutional Plan Sponsor page.

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About F&G Annuities & Life, Inc.

F&G is deeply devoted to the mission of converting American dreams into tangible realities. With its headquarters proudly located in Des Moines, Iowa, F&G has solidified its status as a preeminent supplier of insurance solutions in the realm of retail annuities and life insurance, extending its influence to serve institutional clients as well. To explore more about F&G, their journey, services, and impact, you can visit their corporate website here.

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For additional information or any press inquiries, Lisa Foxworthy-Parker, SVP of Investor & External Relations at F&G, is available for contact. She can be reached at her corporate email [email protected], or via telephone at 515.330.3307.

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As an important note to consider, the data that reflects F&G's prominence in the PRT marketplace is corroborated by the comprehensive LIMRA U.S. Group Annuity Risk Transfer Sales Survey.

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F&G Annuities & Life, Inc., continues to emerge as a significant force within the insurance industry, demonstrating a steadfast commitment to customer security and enterprise resilience.

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F&G's Growth in the PRT Market

Since the inception of their PRT channel, F&G has not only displayed impressive sales figures but also an adeptness in navigating the complexities intertwined with the retirement incomes of tens of thousands of Americans. Situated at the heart of this growth has been the PRT team's expertise in managing large-scale financial risks and its ability to provide competitive and dependable pension solutions.

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The surging numbers of individuals reliant on F&G's services are a testament to the company's unwavering effort and strategy. It is an affirmation of F&G's market penetration and understanding of the demographic and economic patterns dictating the need for stable pension plans. Their strategy has catered to a diverse range of client profiles, ensuring that each receives tailored advice fitting their unique retirement needs.

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F&G's approach to the PRT transactions has been methodical and client-focused from the start, which has played a sizeable role in the company's ascension within the PRT market. By working closely with consultants and plan sponsors, F&G has managed to execute PRT transactions that are not only successful in transferring pension liabilities but are also crafted to ensure the sustainability and long-term solvency of pension plans.

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The Impact of Industry Recognitions

The climb in the industry rankings comes in light of F&G's reception of two coveted financial strength upgrades. Ratings from Moody's and A.M. Best serve not just as a badge of the company's financial health but as an indicator of confidence from some of the most respected agencies in the financial world. These upgrades reflect upon F&G's disciplined risk management and strategic investment choices, which have been instrumental in the broader welfare of their customers' future financial stability.

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The Future Horizon: Continuing the Momentum

Looking to the future, the expectancy is for F&G to continue to consolidate its position as a leader in the PRT space. With a seasoned team at the helm, F&G is poised to navigate the marketplace efficiently, delivering pension risk solutions that align with the evolving needs of the industry. As the demographics of retirement shift and the requirements for financial security in old age become more complex, F&G’s services will be pivotal.

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The Link Between Ratings and Performance

The performance of F&G Annuities & Life, Inc. is intricately linked to its creditworthiness as seen through the eyes of rating agencies like Moody's and A.M. Best. The upgrades from these agencies not only highlight F&G's financial acumen but also elevate the company's profile amongst institutional clients. These clients place a premium on security and consistency, which are qualities that F&G has demonstrated in ample measure.

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Navigating Pension Risk in Today's Economic Climate

The current financial landscape presents a myriad of challenges for pension plans, including volatile markets and uncertain economic forecasts. In response, F&G has proven adept at crafting PRT transactions that assuage these concerns, creating layers of security for retirees while also safeguarding the fiscal health of pension funds. Their focus remains steadfast on providing solutions that are robust yet adaptable – necessary qualities in today’s economic environment.

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F&G's success story in the PRT space is, at its core, about more than just numbers. It is a narrative about safeguarding the future of retirees, instilling confidence in their financial security, and the triumph of strategic visioning in an industry that is both complex and ever-changing.

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F&G's Blueprint for Success

The underlying principles that have steered F&G towards success in the PRT market are embodied in their intricate planning, customer focus, and industry insights. Their blueprint for success centers around the ability to deliver customized solutions that resonate with the unique needs of each client, bolstered by a proven track record of professional execution and comprehensive aftercare.

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Considering the advanced capabilities of F&G, it becomes clear that their approach to PRT transactions is more than just about transferring pension risks; it's about fostering long-term relationships and building an ecosystem wherein financial security is a paramount concern.

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Encouraging Sustainable Pensions

One of the critical focus areas for F&G is ensuring the sustainability of pension schemes. As they orchestrate complex PRT transactions, the objective goes beyond merely transferring risks. The company seeks to assure that the impact on funding levels remains mitigated, promoting a stable financial future for all stakeholders involved.

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In conclusion, as F&G Annuities & Life, Inc. celebrates this remarkable milestone in pension risk transfer sales, the company has unquestionably etched its name as a robust and reliable partner in the financial services industry. Their meticulous attention to detail, unwavering commitment to their clients, and forward-thinking approach underscore their position as a vanguard in the marketplace.

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For those seeking further information or looking to establish communication, please reach out to Lisa Foxworthy-Parker.

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The assurance of quality in F&G's services is supported not merely by their words but validated by the comprehensive LIMRA U.S. Group Annuity Risk Transfer Sales Survey, a gold standard in the industry's metrics.

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By setting its sights on continuous growth and expansion, F&G Annuities & Life, Inc. is gearing up to make even greater strides in the provision of unparalleled security and support to its ever-growing client base, ensuring that American retirees can look forward to a more secure financial future.

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The journey of F&G Annuities & Life, Inc. demonstrates the potential of a company determined to lead, innovate, and redefine the standards of the pension risk transfer market, securing the well-being of countless individuals along the way.

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