~ Wendy Young
to Assume Role as Chief Liability Officer ~
~ Conor
Murphy Appointed Chief Financial Officer ~
DES
MOINES, Iowa, Feb. 20,
2025 /PRNewswire/ -- F&G Annuities & Life,
Inc. (NYSE: FG) (F&G or the Company) a leading provider of
insurance solutions serving retail annuity and life customers and
institutional clients, today announced that Wendy Young will transition from her Chief
Financial Officer role on April 1,
2025 to become F&G's Chief Liability Officer, a newly
created position. In conjunction with this transition, the Company
has appointed Conor Murphy as its
new Chief Financial Officer, effective April
1, 2025.
Chris Blunt, Chief Executive
Officer of F&G, commented, "Over the last five years we have
experienced phenomenal growth having more than doubled our assets
under management as we diversified our products and distribution,
while also expanding our business model to include accretive flow
reinsurance and our owned distribution strategy. Critical to our
ongoing success and execution is ensuring that we have the people
in place to effectively manage our growth as we continue to scale
our Company. As a result, we are evolving our organizational
structure and have appointed Wendy
Young to a newly created position where she will lead all
aspects of F&G's liability management, reinsurance activities
and our offshore entities. Wendy's deep knowledge of F&G as
well as her prior work as CEO of our Bermuda business makes her the ideal executive
to assume this role. I am grateful that Wendy has agreed to lead
this effort given its importance to our long-term success."
Mr. Blunt continued, "I am also very pleased to welcome
Conor Murphy to F&G as our next
Chief Financial Officer. Conor brings extensive experience having
held a variety of executive roles at industry leading insurance
companies. Conor's experience is a perfect match for our newly
defined Chief Financial Officer role which will oversee our
financial management as well as helping to guide our business and
strategic capital allocation as we continue to scale our Company to
maximize our profitability and return on equity and deliver
long-term shareholder value."
Mr. Blunt concluded, "As you can see, these are two very
important roles that will report to me and require two uniquely
qualified executives. I look forward to partnering with Wendy and
Conor as they step into these positions and am thankful to have
such an accomplished team as we continue to build an industry
leading business."
Mr. Murphy is an experienced executive with extensive industry
experience having previously served as President and CEO of
Resolution Life US. Prior to Resolution Life, Mr. Murphy
spent five years as Executive Vice President and Chief Operating
Officer at Brighthouse Financial (BHF) where he oversaw the
company's operations during the transition from MetLife, as well as
managing the company's life and annuity businesses including
product development, pricing and underwriting. Mr. Murphy was
also responsible for BHF's strategy and finance functions including
serving as interim CFO. Prior to joining BHF, Mr. Murphy held
multiple senior positions at MetLife over his 17-year tenure
including being MetLife's first European CFO as well as CFO of
Latin America. Prior to MetLife,
Mr. Murphy spent seven years in the financial services practice at
PwC where he managed significant insurance client
relationships.
About F&G
F&G Annuities and Life, Inc. 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. For more
information, please visit www.fglife.com.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to known and unknown risks and uncertainties, many of which
are beyond our control. Some of the forward-looking statements can
be identified by the use of terms such as "believes", "expects",
"may", "will", "could", "seeks", "intends", "plans", "estimates",
"anticipates" or other comparable terms. Statements that are not
historical facts, including statements regarding our expectations,
hopes, intentions or strategies regarding the future are
forward-looking statements. Forward-looking statements are based on
management's beliefs, as well as assumptions made by, and
information currently available to, management. Because such
statements are based on expectations as to future financial and
operating results and are not statements of fact, actual results
may differ materially from those projected. We undertake no
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise. The risks
and uncertainties which forward-looking statements are subject to
include, but are not limited to: general economic conditions and
other factors, including prevailing interest and unemployment rate
levels and stock and credit market performance; natural disasters,
public health crises, international tensions and conflicts,
geopolitical events, terrorist acts, labor strikes, political
crisis, accidents and other events; concentration in certain states
for distribution of our products; the impact of interest rate
fluctuations; equity market volatility or disruption; the impact of
credit risk of our counterparties; changes in our assumptions and
estimates regarding amortization of our deferred acquisition costs,
deferred sales inducements and value of business acquired balances;
regulatory changes or actions, including those relating to
regulation of financial services affecting (among other things)
underwriting of insurance products and regulation of the sale,
underwriting and pricing of products and minimum capitalization and
statutory reserve requirements for insurance companies, or the
ability of our insurance subsidiaries to make cash distributions to
us; and other factors discussed in "Risk Factors" and other
sections of F&G's Form 10-K and other filings with the
Securities and Exchange Commission (SEC).
Contact:
Lisa Foxworthy-Parker
SVP of Investor & External Relations
Investor.relations@fglife.com
515.330.3307
View original content to download
multimedia:https://www.prnewswire.com/news-releases/fg-annuities--life-announces-chief-financial-officer-transition-302381797.html
SOURCE F&G Annuities & Life, Inc.
