F&G Annuities & Life, Inc. (FG) Covered Calls

F&G Annuities & Life, Inc. is a leading provider of insurance solutions, specializing in fixed indexed annuities and life insurance products. The company provides a diversified suite of retirement income and protection solutions designed to help retail and institutional clients manage financial risk and growth.

You can sell covered calls on F&G Annuities & Life, Inc. to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for FG (prices last updated Tue 4:16 PM ET):

F&G Annuities & Life, Inc. (FG) Stock Quote
Last Change Bid Ask Volume P/E Market Cap
22.75 -0.57 21.92 24.10 755K 6.8 3.1
Covered Calls For F&G Annuities & Life, Inc. (FG)
Expiration Strike Call Bid Net Debit Return
If Flat		 Annualized
Return If Flat
Mar 20 22.5 0.80 23.30 -2.4% -35.0%
Apr 17 22.5 1.20 22.90 -0.7% -4.8%
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F&G Annuities & Life, Inc. (NYSE: FG), headquartered in Des Moines, Iowa, is a powerhouse in the retirement security sector. Formerly known as Fidelity & Guaranty Life, the company has undergone a transformative evolution following its partial spin-off from Fidelity National Financial (FNF). F&G operates a capital-efficient business model focused on the high-growth markets for Fixed Indexed Annuities (FIAs) and Indexed Universal Life (IUL) insurance. By leveraging a multi-channel distribution strategy—including independent agents, banks, and broker-dealers—F&G captures demand from a broad demographic of retirees and pre-retirees seeking downside protection with equity-linked upside potential. A critical component of its competitive moat is its strategic relationship with Blackstone, which manages a significant portion of F&G’s investment portfolio, providing access to high-yielding private credit and alternative assets that traditional insurers often struggle to source.

Core Business and Products

  1. Retail Annuities: The company’s primary engine, offering Fixed Indexed and Multi-Year Guaranteed Annuities (MYGA). These products are designed for "safe-money" investors looking to outpace inflation without exposure to market volatility.
  2. Institutional Solutions: A rapidly growing segment that includes Pension Risk Transfer (PRT) and Funding Agreements. F&G serves large corporations looking to de-risk their pension obligations, providing a stable, long-duration asset base.
  3. Life Insurance: Focuses on Indexed Universal Life products that provide both a death benefit and a flexible cash-value component linked to market performance.
  4. Investment Management: Through its partnership with Blackstone, F&G maintains a high-quality, diversified investment portfolio that prioritizes investment-grade private credit, maximizing the spread between its cost of funds and investment returns.

Competitive Landscape

F&G operates in a highly regulated and capital-intensive environment where financial strength ratings and investment spreads are the primary moats. Its most direct optionable rivals are Prudential Financial and MetLife, both of which offer broader insurance suites but compete directly for retirement assets. It also faces significant competition from Ameriprise Financial and Corebridge Financial. F&G differentiates itself through its "asset-light" operational structure and its unique ability to offer higher-than-average participation rates on its annuities, fueled by the superior yield generated by its Blackstone-led investment strategy.

Strategic Outlook and Innovation

The long-term strategy for F&G is defined by "AUM Accretion and Product Innovation." As of early 2026, the company has surpassed $60 billion in assets under management, driven by record-breaking sales in the bank and broker-dealer channels. This evergreen strategy is centered on the "Demographic Tailwinds" of an aging global population. By 2026, F&G is also expanding its "Institutional Growth" vertical, capitalizing on a surge in corporations seeking to transfer legacy pension liabilities. This allows F&G to scale its balance sheet without the high acquisition costs associated with individual retail policies, leading to significantly improved return-on-equity (ROE) metrics.

Innovation at F&G is centered on "Proprietary Index Design" and Digital Underwriting. The company is a leader in creating custom, volatility-controlled indexes that provide clients with smoother return profiles in choppy markets. Furthermore, F&G is deploying AI-driven "Predictive Issuance" models that reduce the application-to-approval time for life insurance from weeks to minutes for eligible healthy applicants. By merging its 65-year legacy of retirement protection with sophisticated alternative investment strategies and modern digital distribution, F&G Annuities & Life aims to remain the premier destination for Americans seeking guaranteed lifetime income.