{"id":540472,"date":"2021-09-21T08:48:10","date_gmt":"2021-09-21T12:48:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/fg-surpasses-2-billion-in-institutional-markets-in-first-year\/"},"modified":"2021-09-21T08:48:10","modified_gmt":"2021-09-21T12:48:10","slug":"fg-surpasses-2-billion-in-institutional-markets-in-first-year","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fg-surpasses-2-billion-in-institutional-markets-in-first-year\/","title":{"rendered":"F&G Surpasses $2 Billion in Institutional Markets in First Year"},"content":{"rendered":"
\n

Major Sales Milestone from New FABN Issuances and PRT Transactions Solidifies Institutional Business Launch<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n DES MOINES, Iowa<\/span>, Sept. 21, 2021<\/span> \/PRNewswire\/ — F&G, part of the FNF family of companies and a leading provider of annuities and life insurance, recently announced its second funding agreement backed note (FABN) with a $1.15 billion<\/span> issuance by F&G Global Funding (FGGF), an unaffiliated Delaware<\/span> trust.\u00a0 <\/p>\n

\n

\n
\n \"Fidelity
\n <\/a>\n <\/p>\n<\/p><\/div>\n

This issuance has propelled sales from F&G’s new institutional channel to over $2 billion<\/span> including an FABN issuance in the second quarter and recent pension risk transfer (PRT) transactions.\u00a0<\/p>\n

“The significant and rapid growth into these new markets is a key pillar of F&G’s market diversification strategy,” said Scott Cochran<\/span>, President of Institutional and New Markets at F&G.\u00a0 “The Institutional business leverages our existing spread-based capabilities and our strategic partnership with Blackstone.\u00a0 Already we are seeing these new lines of business contribute a sizeable portion of F&G’s sales which complements our rapidly growing retail business. We expect forward momentum as the team’s deep institutional market experience continues to deliver relevant solutions.”<\/p>\n

With this second FABN issuance, there are now over 80 investors in FGGF’s platform.\u00a0 FGGF’s primary assets are funding agreements issued by Fidelity & Guaranty Life Insurance Company and reported as deposit-type contracts.\u00a0 The notes from FGGF carry ratings of A- (Stable outlook) from S&P and Fitch which are in line with Fidelity & Guaranty Life Insurance Company’s financial strength ratings.\u00a0\u00a0 <\/p>\n

“The FABN market continues to be attractive, and F&G’s highly aligned business strategy provides a material contribution to our spread lending platform,” said Matt Trosper<\/span>, VP, New Markets at F&G.\u00a0 “We’ve attracted a strong group of sophisticated institutional investors which includes a high level of repeat investors from our June issuance. We look forward to carrying this momentum into 2022.”\u00a0 \u00a0<\/p>\n

During the third quarter, F&G has also closed multiple PRT transactions representing $375 million<\/span> in pension obligations and over 11,000 participants who will receive their lifetime pension payments from F&G. <\/p>\n

“Throughout the past year, F&G has assembled a best-in-class team to support the PRT needs of pension sponsors, participants, fiduciaries and consultants,” said Jay Dinunzio<\/span>, VP, PRT Business Development at F&G. \u00a0“We are excited to enter the competitive and growing PRT marketplace and continue our work to acquire, prudently manage and service defined benefit pension annuities.” <\/p>\n

Proceeds from the PRT and FABN transactions will be managed by the experienced asset management team at Blackstone Insurance Solutions who seek to source and manage appropriate, high-quality assets that are well matched to F&G’s liabilities.\u00a0<\/p>\n

\n About F&G<\/b>\n <\/p>\n

F&G is part of the FNF family of companies. F&G is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of annuity and life insurance products and is headquartered in Des Moines, Iowa<\/span>. For more information, please visit\u00a0fglife.com<\/a>.<\/p>\n

“F&G” is the marketing name for Fidelity & Guaranty Life Insurance Company issuing insurance in the United States<\/span> outside of New York<\/span>. Life insurance and annuities issued by Fidelity & Guaranty Life Insurance Company, Des Moines, IA<\/span>.<\/p>\n

\n Media Contact:<\/b>\n <\/p>\n

\n Karen Pevenstein<\/span>
\n
\n Karen.Pevenstein@fglife.com<\/a>\u00a0
617.312.3922 <\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:https:\/\/www.prnewswire.com\/news-releases\/fg-surpasses-2-billion-in-institutional-markets-in-first-year-301381351.html<\/a><\/p>\n

SOURCE Fidelity & Guaranty Life; Fidelity National Financial, Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Major Sales Milestone from New FABN Issuances and PRT Transactions Solidifies Institutional Business Launch PR Newswire DES MOINES, Iowa, Sept. 21, 2021 \/PRNewswire\/ — F&G, part of the FNF family of companies and a leading provider of annuities and life insurance, recently announced its second funding agreement backed note (FABN) with a $1.15 billion issuance by F&G Global Funding (FGGF), an unaffiliated Delaware trust.\u00a0 This issuance has propelled sales from F&G’s new institutional channel to over $2 billion including an FABN issuance in the second quarter and recent pension risk transfer (PRT) transactions.\u00a0 “The significant and rapid growth into these new markets is a key pillar of F&G’s market diversification strategy,” said Scott Cochran, President of Institutional and New Markets … <\/p>\n

Continue reading “F&G Surpasses $2 Billion in Institutional Markets in First Year”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-540472","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nF&G Surpasses $2 Billion in Institutional Markets in First Year - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fg-surpasses-2-billion-in-institutional-markets-in-first-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"F&G Surpasses $2 Billion in Institutional Markets in First Year - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Major Sales Milestone from New FABN Issuances and PRT Transactions Solidifies Institutional Business Launch PR Newswire DES MOINES, Iowa, Sept. 21, 2021 \/PRNewswire\/ — F&G, part of the FNF family of companies and a leading provider of annuities and life insurance, recently announced its second funding agreement backed note (FABN) with a $1.15 billion issuance by F&G Global Funding (FGGF), an unaffiliated Delaware trust.\u00a0 This issuance has propelled sales from F&G’s new institutional channel to over $2 billion including an FABN issuance in the second quarter and recent pension risk transfer (PRT) transactions.\u00a0 “The significant and rapid growth into these new markets is a key pillar of F&G’s market diversification strategy,” said Scott Cochran, President of Institutional and New Markets … Continue reading "F&G Surpasses $2 Billion in Institutional Markets in First Year"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/fg-surpasses-2-billion-in-institutional-markets-in-first-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-21T12:48:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/468510\/Fidelity_Guaranty_Life_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fg-surpasses-2-billion-in-institutional-markets-in-first-year\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fg-surpasses-2-billion-in-institutional-markets-in-first-year\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"F&G Surpasses $2 Billion in Institutional Markets in First Year\",\"datePublished\":\"2021-09-21T12:48:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fg-surpasses-2-billion-in-institutional-markets-in-first-year\\\/\"},\"wordCount\":574,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fg-surpasses-2-billion-in-institutional-markets-in-first-year\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/468510\\\/Fidelity_Guaranty_Life_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fg-surpasses-2-billion-in-institutional-markets-in-first-year\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fg-surpasses-2-billion-in-institutional-markets-in-first-year\\\/\",\"name\":\"F&G Surpasses $2 Billion in Institutional Markets in First Year - 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