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F&G Annuities & Life
William P. Foley, II chairs F&G Annuities & Life, a Des Moines-based insurer and top-10 US fixed annuity provider by sales.
F&G Annuities & Life
F&G Annuities & Life was founded in 1959 as part of Fidelity National Financial (FNF), the title insurance giant built by William P. Foley, II. FNF remains the majority shareholder at roughly 70% ownership, making F&G a controlled insurance subsidiary that has operated as a standalone public company (NYSE: FG) since its 2022 spinoff. The firm sells fixed-indexed and fixed-rate annuities through independent agents, banks, and broker-dealers. Premiums flow into a general account allocated primarily to investment-grade bonds, commercial mortgage loans, and private placements. F&G also partners with Blackstone on reinsurance structures, including sidecar vehicles that take on blocks of annuity liabilities. Its real estate exposure includes the 801 Grand Avenue headquarters in Des Moines and a commercial mortgage loan portfolio across US mixed-use properties. The firm does not disclose a direct investment portfolio in private equity or venture capital. F&G reported $44B in statutory total assets as of year-end 2024 (per the firm's annual filing). The firm employed approximately 1,000 people as of 2024. It operates from its Des Moines headquarters with no publicly confirmed additional offices. A Bermuda-based reinsurance entity, F&G Life Re Ltd, was sold to Ancient Financial Holdings LP in 2023. The firm has not publicly disclosed any philanthropic foundation or adjacent investment vehicles beyond its insurance operations. F&G's structural differentiator is its position as a controlled insurance company within the FNF orbit — giving it access to FNF's distribution network and Foley's deal flow without operating as a traditional family office. The governance structure combines public-market disclosure with the stability of a majority owner who can direct long-term strategy.
General information
Firm type
Insurance
Year founded
1959
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Des Moines
Corporate office
801 Grand Avenue, Suite 2600, Des Moines, IA 50309, United States
Principals
William P. Foley, II
Executive Chairman of the Board
Sector focus
Frequently asked questions
Who owns F&G Annuities & Life?
F&G is majority owned by Fidelity National Financial (FNF), which holds roughly 70% of its shares (per F&G's proxy filings). The remainder trades publicly on the NYSE under ticker FG.
How is F&G related to Blackstone?
Blackstone serves as a strategic investment manager for F&G, including partnership on reinsurance sidecar vehicles that assume annuity liabilities. The arrangement was announced in 2021 and expanded in subsequent years (per the firm's disclosures).
Does F&G invest in private equity or venture capital directly?
F&G does not publicly report a direct private equity or venture capital portfolio. Its general account is allocated primarily to investment-grade bonds, commercial mortgage loans, and private placements — not to traditional private equity funds or direct company stakes.
What is the relationship between F&G and Fidelity National Financial?
William P. Foley, II built FNF into a title insurance giant; F&G operated as an FNF subsidiary for decades before being spun off in 2022. FNF retains majority control, and F&G shares two board members with FNF (per the 2024 proxy statement).
Where does F&G sell its insurance products?
F&G distributes fixed annuities through independent agents, banks, and broker-dealers across the United States. It does not operate internationally.
What investment stages does F&G target?
F&G does not target stages typical of a family office or asset manager; it manages insurance liabilities and invests in fixed-income and real estate assets to match those obligations. It does not participate in venture rounds or growth equity.
Does F&G have a philanthropic foundation?
The firm does not publicly disclose a separate philanthropic foundation. Its community activities appear limited to corporate donations and employee volunteering, which are not separately reported.
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