F&G Annuities & Life Business Summary

F&G Annuities & Life, Inc. (FG) generates revenue primarily through investment spreads and fee-based income derived from its comprehensive portfolio of insurance and retirement solutions. The company operates through two main business segments: Retail, which provides fixed indexed annuities (FIAs), multi-year guarantee annuities (MYGAs), and indexed universal life (IUL) insurance; and Institutional, which focuses on pension risk transfer (PRT) solutions and institutional funding agreements. As of early 2026, F&G is aggressively expanding its presence in the registered index-linked annuity (RILA) market and transitioning toward a capital-light, fee-generating model with a target of 25% fee-based earnings by 2028. The company competes directly with industry giants such as Corebridge Financial, Athene (Apollo Global Management), and Lincoln Financial Group, positioning itself as a specialized, high-growth provider of retirement income and middle-market protection products. Originally founded in 1959, F&G is currently led by a veteran executive team and is a majority-owned subsidiary of Fidelity National Financial (NYSE: FNF). The leadership is anchored by Executive Chairman William P. Foley II, a prominent financier and Chairman of FNF, and CEO Christopher Blunt, who previously served as CEO of Blackstone Insurance Solutions and held executive roles at New York Life. In a strategic 2025 reorganization, Conor Murphy—formerly of Resolution Life and Brighthouse Financial—was appointed President and Chief Financial Officer, while Wendy JB Young transitioned to the newly created role of Chief Liability Officer. Other key executives include Chief Investment Officer Leena Punjabi and Chief Information Officer Ted Hughes. The company benefits from the institutional backing of FNF, which provides significant capital resources and strategic alignment across the broader financial services landscape.