Annuity Issuer F&G Set to Go Public Dec. 1
November 15, 2022 by Allison Bell
A midsize annuity issuer — F&G Annuities & Life — could get its own listing on the New York Stock exchange Dec. 1.
Fidelity National Financial, the publicly traded, Jacksonville, Florida-based title insurer that now owns F&G, announced Thursday that it will give F&G a separate identity by distributing 15% of F&G’s stock to investors who own Fidelity National stock on Nov. 22.
Click HERE to read the full story via ThinkAdvisor
Wink’s Note: It’s not every day that you open a newsletter, and find out that one of your friends is working on a spinoff.
But sure enough, that is what Chris Blunt at Fidelity & Guaranty Life Insurance Company is working on. The company will go public in less than a month.
I loved Chris’ quote about disintermediation on FGL’s MYGAs at the bottom of this article.
Retail investors “are not generally sitting around looking for interest rate arbitrage,” he said. “They kind of wish they had more fixed annuities and fewer ETFs, frankly.” -sjm
