Business
F&G Annuities & Life Announces Strategic Partnership With New Reinsurer Backed by Blackstone Managed Funds
F&G Annuities & Life, Inc. (NYSE: FG) (F&G) today announced that F&G has launched a strategic partnership with a new reinsurance vehicle backed by Blackstone managed funds, with approximately $1 billion in anticipated capital commitments. The reinsurer will provide long-term, on demand growth capital to F&G through a forward flow reinsurance agreement on a quota share basis of certain fixed indexed annuity products, effective August 1, 2025.
About this update from F&g Annuities & Life, Inc.
[{"type":"text","content":"DES MOINES, Iowa, Aug. 6, 2025 /PRNewswire/ -- F&G Annuities & Life, Inc. (NYSE: FG) (F&G) today announced that F&G has launched a strategic partnership with a new reinsurance vehicle backed by Blackstone managed funds, with approximately $1 billion in anticipated capital commitments. The reinsurer will provide long-term, on demand growth capital to F&G through a forward flow reinsurance agreement on a quota share basis of certain fixed indexed annuity products, effective August 1, 2025.","length":512,"tagName":"p"},{"type":"image","alt":"Fidelity & Guaranty Life","displaySize":"","headline":null,"caption":"Fidelity & Guaranty Life","className":"","disableSlideshowImg":false,"size":{"original":{"width":385,"height":335,"url":"https://media.zenfs.com/en/prnewswire.com/28fd98423afb47b3cbe8fc70e038d83b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/DDlgwrqdM6GcNNwEE7rU8Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTYxMztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/28fd98423afb47b3cbe8fc70e038d83b","width":385,"height":335}},"href":"https://mma.prnewswire.com/media/468510/Fidelity___Guaranty_Life_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"This structure enables F&G to efficiently manage its liabilities, reinsure a portion of its fixed indexed annuity sales and enhance its capital-light model, which remains core to its strategy. The partnership also reflects the strength of F&G's strategic relationship with Blackstone and underscores our shared commitment to delivering innovative, value-enhancing solutions.","length":391,"tagName":"p"},{"type":"text","content":""We are very excited for this opportunity that recognizes Blackstone as a trusted partner and enables us to fund a portion of our growth with participation from private, long-term capital providers," said Chris Blunt, Chief Executive Officer. "This transaction positions us to further capitalize on growth opportunities that we see in the market and positions us to provide life and annuity solutions to more distribution partners, helping them meet their customer needs. The partnership will also move F&G toward a more fee-based, higher margin and less capital intensive business and is expected to be quite positive in our efforts to expand our return on equity over time."","length...