F&G Annuities & Life reaches $5bn in cumulative PRT transactions

F&G Annuities & Life, Inc., the provider of insurance solutions serving retail annuity and life customers and institutional clients, has reached over $5 billion in cumulative sales of pension risk transfer (PRT) transactions, since the channel was launched in June 2021.

Since its inception, the firm’s PRT channel, one of F&G’s institutional markets, now includes more than 100,000 total participants, which includes beneficiaries, who will receive their pension payments from F&G.

This milestone clearly demonstrates how the company has become a considerable figure within the PRT space.

Matt Christensen, Executive Vice President of PRT at F&G, commented: “In just under three years, F&G has become a meaningful player in the PRT space as demonstrated by this significant sales milestone. 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.”

Jay Dinunzio, Senior Vice President of PRT Sales and Operations at F&G, said: “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.

“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.”

In January, F&G Annuities and Life announced the closing of a $250 million preferred stock investment from parent Fidelity National Financial, Inc. (FNF).

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