Fidelity & Guaranty Life (FGL), incorporated on August 3, 2010, is a holding company focused on obtaining controlling equity stakes in companies that operate across various industries. FGL's primary business is the sale of individual life insurance products and annuities through independent agents, managing general agents, and specialty brokerage firms and in selected institutional markets. FGL's principal products are deferred annuities (including fixed indexed annuity (FIA) contracts), immediate annuities and life insurance products. FGL markets products through its insurance subsidiaries, Fidelity & Guaranty Life Insurance Company (FGL Insurance) and Fidelity & Guaranty Life Insurance Company of New York (FGL NY Insurance). The Company distributes and services primarily fixed rate annuities, including FIAs. The Company provides FIA's for pre-retirement wealth accumulation and post-retirement income management. Its life insurance provides wealth protection and transfer opportunities through indexed universal life products. Life and annuity products are primarily distributed through independent insurance marketing organizations (IMOs) and independent insurance agents.
Deferred Annuities
The Company's FIAs allow contract owners the possibility of earning interest based on the performance of a specified market index, predominantly the S&P 500 Index, without risk to principal. The contracts include a provision for a minimum guaranteed surrender value calculated in accordance with applicable law. A market index tracks the performance of a specific group of stocks representing a particular segment of the market, or in some cases an entire market. All FIA products allow policyholders to allocate funds once a year among several different crediting strategies, including one or more index-based strategies and a traditional fixed rate strategy. The value to the contractholder of an FIA contract is equal to the sum of deposits paid, premium bonuses (described below), index credits, up to a cap and a participation rate based on the annual appreciation (based in certain situations on annual point-to-point, monthly point-to-point or monthly average calculations) in a recognized market index less any fees for riders. As of September 30, 2015, 39% of its FIA contracts were issued with a guaranteed minimum withdrawal benefit (GMWB) rider. With this rider, a contract owner can elect to receive guaranteed payments for life from the FIA contract without requiring the owner to annuitize the FIA contract value. Fixed rate annuities include annual reset and multi-year rate guaranteed policies.
Immediate Annuities
The Company also sells single premium immediate annuities (or SPIAs), which provide a series of periodic payments for a fixed period of time or for the life of the policyholder, according to the policyholder's choice at the time of issue. The amounts, frequency and length of time of the payments are fixed at the outset of the annuity contract.
Life Insurance
The Company offers indexed universal life (IUL) insurance policies and have previously sold term and whole life insurance products. Holders of universal life insurance policies earn returns on their policies, which are credited to the policyholder's cash value account. The insurer periodically deducts its expenses and the cost of life insurance protection from the cash value account. The balance of the cash value account is credited interest at a fixed rate or returns based on the performance of a market index, or both, at the option of the policyholder. Life insurance includes Universal Life (UL) and traditional life insurance products.
601 Locust St Fl 14
The company headquarter is located in Malaysia. The company was established in the 2021.| Ticker | FGL |
| Long Name | Founder Group Limited Ordinary Shares |
| Short Name | Founder Group Limited |