F&G CEO Retires as Company Shifts to Fee-Based Model
Event summary
- Chris Blunt retires as CEO of F&G Annuities & Life, effective June 30, 2026, after leading the company since 2019.
- Conor Murphy, current President and CFO, promoted to CEO and President.
- Michael Bailey joins as CFO on August 3, 2026, replacing interim CFO Mark Wiltse.
- Blunt to focus on exploring strategic alternatives for Peak Altitude, F&G's owned distribution business.
- F&G aims to transition to a more fee-based, higher margin, and less capital-intensive business model.
The big picture
F&G is at an inflection point, shifting towards a fee-based model to generate steady long-term earnings growth. The company's assets under management have nearly tripled since 2019 under Chris Blunt's leadership, driven by a diversified growth strategy. The transition to a more capital-light business, including accretive flow reinsurance and owned distribution, is expected to enhance returns and create long-term shareholder value. The appointment of Conor Murphy as CEO and Michael Bailey as CFO signals a focus on disciplined growth and strategic capital allocation.
What we're watching
- Strategic Alternatives
- How F&G's exploration of strategic alternatives for Peak Altitude will impact the company's growth and shareholder value.
- Business Model Shift
- Whether F&G can successfully transition to a more fee-based, higher margin, and less capital-intensive business model.
- Leadership Transition
- The pace at which Conor Murphy can implement the strategic plan initiated by Chris Blunt and drive long-term shareholder value.
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