F&G Purchases 30% Ownership Stake in Freedom Equity Group
F&G, a part of the FNF family, announced a strategic acquisition of a 30% ownership stake in Freedom Equity Group (FEG), enhancing its distribution capacity for indexed universal life (IUL) products. This partnership aims to address the retirement needs of underserved markets and provides individuals with business ownership opportunities. F&G has partnered with FEG, contributing to its position as a leading IUL provider. This investment aligns with F&G's diversification strategy, expanding its reach into bank, broker dealer, and institutional markets.
- Acquisition of a 30% stake in Freedom Equity Group enhances distribution capacity for life insurance.
- Partnership addresses underserved markets, creating growth opportunities in indexed universal life sales.
- F&G's strategy includes reaching multi-cultural segments in the U.S.
- None.
DES MOINES, Iowa, Oct. 8, 2021 /PRNewswire/ -- F&G, part of the FNF family of companies and a leading provider of annuities and life insurance, announced a
"F&G has a long history with FEG, and they have been an integral part of our life growth in recent years," said John Phelps, EVP and Chief Distribution Officer at F&G. "This partnership will help address the risk and retirement needs of a vastly underserved market reaching more communities while creating additional opportunities for individuals to build their own businesses as agents."
FEG has been a partner of F&G for several years, contributing to F&G's rank as a top 3 middle market IUL provider by case rate this year[1]. FEG offers individuals a unique opportunity to become business owners by selling life insurance products enabling them to have greater control of their career, income and time.
"F&G has been a key contributor to our success, and we are excited to join forces with this exciting partnership," said Ron Bloomingkemper, Chairman of FEG. "Teaming up with F&G solidifies the greatness of the opportunity and gives the FEG organization enormous potential to grow in our industry today."
This equity stake is an extension of F&G's overall diversification strategy. Since last year, F&G has expanded its reach with a successful launch in the bank and broker dealer channels and most recently in institutional markets with FABN issuances and pension risk transfer (PRT) deals. With the investment in FEG, F&G intends to expand its life business with continued penetration of multi-cultural segments in the U.S.
About F&G
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. For more information, please visit fglife.com.
"F&G" is the marketing name for Fidelity & Guaranty Life Insurance Company issuing insurance in the United States outside of New York. Life insurance and annuities issued by Fidelity & Guaranty Life Insurance Company, Des Moines, IA.
Media Contact:
Karen Pevenstein
Karen.Pevenstein@fglife.com
617.312.3922
[1] LIMRA U.S. Retail Individual Insurance Sales Participant Report, Q2 2021
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SOURCE Fidelity & Guaranty Life; Fidelity National Financial, Inc.
FAQ
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