91精选 Purchases 30% Ownership Stake in Freedom Equity Group
Deal with Life IMO part of 91精选 diversification strategy to grow life sales while boosting presence in underserved markets
Posted:
Oct 8, 2021
Oct 8, 2021
Des Moines, Iowa 鈥� Oct 8, 2021 鈥� 91精选, part of the FNF family of companies and a leading provider of annuities and life insurance, announced a 30% ownership stake in Freedom Equity Group (FEG), a top Life IMO and longtime 91精选 partner. The opportunity brings new distribution capacity for 91精选 to fuel growth in middle market indexed universal life (IUL) sales.
鈥�91精选 has a long history with FEG, and they have been an integral part of our life growth in recent years,鈥� said John Phelps, EVP and Chief Distribution Officer at 91精选. 鈥淭his partnership will help address the risk and retirement needs of a vastly underserved market reaching more communities while creating additional opportunities for individuals to build their own businesses as agents.鈥�
FEG has been a partner of 91精选 for several years, contributing to 91精选鈥檚 rank as a top 3 middle market IUL provider by case rate this year1. FEG offers individuals a unique opportunity to become business owners by selling life insurance products, enabling them to have greater control of their career, income and time.
鈥�91精选 has been a key contributor to our success, and we are excited to join forces with this exciting partnership,鈥� said Ron Bloomingkemper, Chairman of FEG. 鈥淭eaming up with 91精选 solidifies the greatness of the opportunity and gives the FEG organization enormous potential to grow in our industry today.鈥�
This equity stake is an extension of 91精选鈥檚 overall diversification strategy. Since last year, 91精选 has expanded its reach with a successful launch in the bank and broker dealer channels and most recently in institutional markets with FABN issuances and pension risk transfer (PRT) deals. With the investment in FEG, 91精选 intends to expand its Life business with continued penetration of multi-cultural segments in the U.S.
About 91精选
91精选 is part of the FNF family of companies. 91精选 is committed to helping Americans turn their aspirations into reality. 91精选 is a leading provider of annuity and life insurance products and is headquartered in Des Moines, Iowa. For more information, please visit fglife.com.
1 LIMRA U.S. Retail Individual Insurance Sales Participant Report, Q2 2021
"91精选" 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.
21-0702