F&G Announces $1 Billion Sales Milestone in its Financial Institutions Channel
May 10, 2021
DES MOINES, Iowa, May 10, 2021 /PRNewswire/ -- F&G, part of the FNF family of companies and a leading provider of annuities and life insurance, announced that the company has surpassed $1 billion in sales in the financial institutions channel, less than one year after launching. Debuting in July 2020 with Raymond James, F&G has experienced significant growth in this space and remains a top-five carrier in fixed index annuity sales.
"We're extremely proud to reach this milestone, which is a reflection of our team's commitment to developing simple and competitive products which consumers want and advisors want to use, while providing a high-quality experience to our bank and broker dealer distribution partners," said Chris Blunt, CEO at F&G. "In a period where industry sales declined, and we saw others reduce volume, F&G was able to achieve this milestone much faster than we anticipated – all done virtually during a global pandemic."
"Our launch with F&G was one of our most successful ever – a testament to the quality of their products, level of service and deep partnership we've developed with them through their relationship with Producers Choice over the years," said Beth Maziad, Senior Vice President of Insurance Operations for Raymond James. "F&G partnered with Raymond James to deliver the operations and service 'must haves' within the financial institution space to make the business easier on day one. We look forward to continuing this partnership to help our mutual clients achieve their financial goals," added Jamie Kosharek, President of Producers Choice Network, the annuity distribution arm of Raymond James.
Another factor to F&G's growth is its ability to ensure the pricing of its products are consistently competitive in large part due to their partnership with The Blackstone Group. F&G and Blackstone work together to find, source and underwrite assets seeking compelling returns without significantly increasing risk. In a low rate, low spread, volatile environment, the partnership is a critical differentiator for F&G.
F&G's Financial Institutions Channel partners with banks and broker dealers, including Raymond James and others, providing fixed and fixed index annuities. F&G's relationship management and sales teams engage with these distributors proactively to deliver a positive and consistent experience for both advisors and back office teams alike. This high-touch and communicative manner has helped drive repeat business from the advisors that look to F&G to protect their clients' retirement savings.
"F&G plans to strategically grow its financial institutions business with likeminded partners who support our mission of turning aspirations into reality," said Dan Farrelly, Senior Vice President, Head of Financial Institutions Channel at F&G. "These partnerships highlight how our protected growth and guaranteed income solutions can offer clients a happier and more predictable retirement."