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F&G Annuities & Life, Inc. (NYSE:FG), a life insurance company, announced organizational changes today, including the appointment of a new Chief Financial Officer (CFO). The company stated that Wendy Young will transition from her current role as CFO to become the Chief Liability Officer, effective April 1, 2025. Concurrently, Conor Murphy will assume the position of CFO on the same date.
Murphy, 56, brings a wealth of experience to F&G, having previously held the position of President and CEO of Resolution Life US. His extensive background includes a five-year tenure as Executive Vice President and Chief Operating Officer at Brighthouse Financial (NASDAQ:BHF), where he was instrumental during the company’s separation from MetLife (NYSE:MET). Additionally, Murphy has held multiple senior roles at MetLife, including the first European CFO and CFO of Latin America, and spent seven years at PricewaterhouseCoopers.
The company has entered into an employment agreement with Murphy that includes an initial three-year term with automatic one-year extensions. His compensation package includes a minimum annual base salary of $550,000, eligibility for an annual incentive bonus with a target of 100% of his base salary (and a maximum of 200%), and standard employee benefits. Murphy is also set to receive a one-time cash bonus of $500,000 and a performance-based restricted stock award valued at $3 million, which vests over three years. Additionally, he will be recommended for an annual equity award valued at $3 million, subject to the compensation committee’s approval.
These executive changes come as F&G continues to position itself in the life insurance market. The company’s latest SEC filing indicates that these appointments are part of their strategic planning and executive compensation arrangements. The full details of Murphy’s employment agreement will be included in the company’s Form 10-K for the year ended December 31, 2024.
This news is based on a recent SEC filing by F&G Annuities & Life, Inc.
In other recent news, Fidelity National Financial (NYSE:FNF), Inc. announced a quarterly cash dividend of $0.50 per share, payable on March 31, 2025, to shareholders of record as of March 17, 2025. This declaration underscores the company’s ongoing commitment to providing value to its shareholders. Meanwhile, F&G Annuities & Life, Inc., a majority-owned subsidiary of Fidelity National, has completed a public offering of $375 million in junior subordinated notes due in 2065. The notes carry an interest rate of 7.300% and will pay interest quarterly beginning April 15, 2025. Proceeds from this offering are intended for general corporate purposes, which may include repurchasing, redeeming, or repaying outstanding debt. The underwriting was managed by firms including Wells Fargo (NYSE:WFC) Securities, LLC and BofA Securities, Inc. F&G’s financial strategy involves managing capital and debt effectively, although the company acknowledges potential risks and uncertainties in its forward-looking statements.
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