حوإ¼½م½م Enters Funding Agreement Backed Note Market
First FABN Issuance Marks Company’s Expansion into Institutional Markets
Posted:
June 29, 2021
June 29, 2021
DES MOINES, Iowa, June 29, 2021حوإ¼½م½م, part of the FNF family of companies and a leading provider of annuities and life insurance, today announced it has entered the funding agreement backed note market with an initial $750 million note issued by حوإ¼½م½م Global Funding (FGGF), an unaffiliated Delaware trust. This agreement marks حوإ¼½م½م’s first offering in the institutional market.
“Entry into this market is part of حوإ¼½م½م’s growth and diversification strategy, and we look forward to future funding agreement issuances,†said Scott Cochran, President of Institutional and New Markets at حوإ¼½م½م. “This new business, along with our pension risk transfer business, will leverage our existing spread-based capabilities and our strategic partnership with Blackstone.â€
Proceeds from the FGGF’s purchase of the funding agreement will be managed by the experienced asset management team at Blackstone Insurance Solutions who seek to source and manage appropriate, high-quality assets that are well matched to حوإ¼½م½م’s liabilities.
FGGF’s primary assets will be funding agreements issued by Fidelity & Guaranty Life Insurance Company which is a subsidiary of حوإ¼½م½م. The notes from FGGF carry ratings of A- (Stable outlook) from S&P and Fitch which are in line with Fidelity & Guaranty Life Insurance Company’s financial strength ratings.
"حوإ¼½م½م" is the marketing name for Fidelity & Guaranty Life Insurance Company issuing insurance in the United States outside of New York. Life insurance and annuities issued by Fidelity & Guaranty Life Insurance Company, Des Moines, IA.
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