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F&G Annuities & Life Announces Strategic Partnership With New Reinsurer Backed by Blackstone Managed Funds

1. F&G partnered with Blackstone for a $1 billion reinsurance agreement. 2. New agreement enhances F&G’s capital-light model for fixed indexed annuities. 3. The partnership aims at increasing return on equity and funding growth. 4. F&G’s strategic relationship with Blackstone promotes innovative solutions. 5. Effective date for agreement is August 1, 2025.

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Why Bullish?

The partnership with Blackstone is a significant endorsement, reminiscent of past successful capital-raising efforts by similar companies that bolstered investor confidence and share prices. It positions F&G favorably in a competitive market.

How important is it?

The strategic partnership is expected to significantly improve F&G's growth trajectory and operational efficiency, indicating strong future performance prospects.

Why Long Term?

This agreement's benefits, including enhanced capital management and growth potential, will take time to materialize, reflecting a strategic shift that supports F&G's long-term goals.

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BXAFLMET
, /PRNewswire/ -- F&G Annuities & Life, Inc. (NYSE: FG) (F&G) today announced that F&G has launched a strategic partnership with a new reinsurance vehicle backed by Blackstone managed funds, with approximately $1 billion in anticipated capital commitments. The reinsurer will provide long-term, on demand growth capital to F&G through a forward flow reinsurance agreement on a quota share basis of certain fixed indexed annuity products, effective August 1, 2025.  This structure enables F&G to efficiently manage its liabilities, reinsure a portion of its fixed indexed annuity sales and enhance its capital-light model, which remains core to its strategy. The partnership also reflects the strength of F&G's strategic relationship with Blackstone and underscores our shared commitment to delivering innovative, value-enhancing solutions. "We are very excited for this opportunity that recognizes Blackstone as a trusted partner and enables us to fund a portion of our growth with participation from private, long-term capital providers," said Chris Blunt, Chief Executive Officer. "This transaction positions us to further capitalize on growth opportunities that we see in the market and positions us to provide life and annuity solutions to more distribution partners, helping them meet their customer needs. The partnership will also move F&G toward a more fee-based, higher margin and less capital intensive business and is expected to be quite positive in our efforts to expand our return on equity over time."  Jefferies served as F&G's financial advisor and Sidley Austin LLP served as F&G's legal counsel in connection with the transaction. 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-ParkerSVP of Investor & External Relations[email protected]515.330.3307 SOURCE F&G Annuities & Life, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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