DES
MOINES, Iowa, Jan. 12,
2024 /PRNewswire/ -- A.M. Best announced it has
upgraded the financial strength ratings of F&G's primary
operating companies, Fidelity & Guaranty Life Insurance Company
and Fidelity & Guaranty Life Insurance Company of New York, to 'A' (Excellent) from 'A-'
(Excellent). Concurrently, A.M. Best has also upgraded the
long-term issuer credit rating (ICR) of Fidelity & Guaranty
Life Holdings, Inc. to 'bbb' (Good) from 'bbb-' (Good). The
rating outlook for F&G and its subsidiaries is 'Stable'.
"We are excited that A.M. Best has upgraded F&G's insurance
subsidiaries to an 'A' rating, which we believe recognizes our
proven track record, balance sheet strength, financial transparency
and commitment to achieving rating upgrades over time," said
Chris Blunt, President and Chief
Executive Officer. "Looking forward, we are well positioned
to expand our reach as a leading 'A' rated provider of insurance
solutions as we execute on our diversified growth strategy, with
multiple levers to grow our business and expand our profitability
and returns."
A.M. Best is one of the four major credit rating agencies
utilized by F&G to provide an independent assessment of the
Company's financial strength and creditworthiness. The full
list of F&G's associated entities receiving an upgrade is
available on A.M. Best's website.
About F&G
F&G is committed to helping
Americans turn their aspirations into reality. F&G is a leading
provider of insurance solutions serving retail annuity and life
customers and institutional clients and is headquartered in
Des Moines, Iowa.
Forward-Looking Statements
This press release contains forward-looking statements as that
term is defined in the Private Securities Litigation Reform Act of
1995. Forward-looking statements include statements that are not
related to present facts or current conditions or that are not
historical facts, as well as statements that address activities,
events, or developments that F&G anticipates will or may occur
in the future. You can identify forward-looking statements by words
such as "believe," "expect," "anticipate," "intend," "plan,"
"estimate," "predict," "project," "seek," "outlook," "future,"
"will," "would," "should," "could," "may," "can have," "likely" and
similar terms. Forward-looking statements include statements based
on management's current expectations and assumptions about future
events. Forward-looking statements are subject to known and unknown
risks and uncertainties, many of which are beyond F&G's
control, that could cause actual results to differ materially from
those in or implied by the forward-looking statements. Factors that
may cause such differences include the risks and uncertainties
described in F&G's filings with the Securities and Exchange
Commission. These forward-looking statements speak only as of the
date of this press release. F&G disclaims any obligation to
update or revise any forward-looking statement, whether as a result
of new information, future developments, changes in assumptions or
otherwise.
Contact:
Lisa Foxworthy-Parker
SVP of Investor & External Relations
515.330.3307
Investor.relations@fglife.com
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content:https://www.prnewswire.com/news-releases/am-best-upgrades-financial-strength-rating-of-fg-annuities--lifes-primary-operating-companies-to-a-outlook-stable-302033733.html
SOURCE F&G Annuities & Life, Inc.
