Meeting Overview
Post on 23-Feb-2016
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Meeting Overview
Who is Fidelity & Guaranty Life Who is Old Mutual Insurance Industry Trends Why Fidelity & Guaranty Life
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F&G Life
Founded in 1959
Premier provider of Life and Annuity products
Offers diverse product portfolio in 49 States and DC
One of the first members of IMSA
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F&G Life (cont.)
Strong financial strength ratings
A.M. Best A
Standard & Poor’s A
Fitch A
Moody’s A2
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F&G Life (cont.)
Proven track record in producing positive sales and earnings growth
Between 1993 and 2000, sales increased 448% and have grown to more than $1 Billion a year
Surpassed $2 Billion in new premium in June 2002
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F&G Life (cont.)
Based on LIMRA results
4th largest brokerage term writer in annualized premium (1st Quarter 2002)
8th largest brokerage life writer in annualized premium (1st Quarter 2002)
Top 5 fixed annuity writer (2002)
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Old Mutual
In September 2001, joined forces with Old Mutual family of companies
Founded 156 years ago
London based insurance & asset management company
Fortune Global 500 Company
Manages $234 Billion in funds (June 2001)
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Old Mutual (cont.)
Has 3.8 Million policyholders
Has 2.4 Million banking customers
Dedicated to the U.S. life insurance market
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What has Old Mutual brought to F&G Life? Capital to grow our business
By the end of 2002, Old Mutual will have invested over $1 Billion in F&G Life
$816 Million through March 2002 which includes the initial purchase of $635 Million in September 2001
An additional $200 Million by December 2002
F&G Life has Old Mutual’s support to continue to grow and support the new business we provide in today’s economic environment and the future
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What has Old Mutual brought to F&G Life?
World class expertise in Administrative Services
Old Mutual provides the purchasing and negotiating power - and the weight - to competently move from a single supplier of administrative services to an actively managed portfolio of suppliers
F&G Life gains additional competency from suppliers with specialized skills
Skills are now available to make changes without jeopardizing existing business and relationships
A Win-Win situation is realized through lowering operating expenses and gaining quality of services provided
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What has F&G Life brought to Old Mutual?
F&G Life has proven to be an excellent entry into the U.S. life insurance market by providing:
An established distribution channel and partners An experienced management team Knowledge in innovative product design An established and well run organization Outstanding sales growth A great platform for future growth A Great Success Story!!!
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What won’t Old Mutual bring to F&G Life?
Failure to support our distribution channels and partners
Rejection of the ideas and needs of agents
Neglect to our distribution partners in terms of service and product design
Second class solutions to problems and opportunities
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Insurance Industry Trends
New Insurance Sales
Overall trends downward in life insurance sales
Despite industry trends, traditional life products are showing excellent growth
Key issues impacting new sales performance of equity market events of September 11th new institutional sales estate tax reform uncertainty
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U.S. Business Environment
Interest rates at historic low levels and holding
Volatility of stock market declines started in March 2000 overall worst market performance in 23 years
Investor confidence rattled ENRON WorldCom
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U.S. Business Environment (cont.)
Favorable demographic trends The aging of America
in 1970, 9% of Americans were over 65 in 2002, the figure is 12.5% in 2030, it will be 19%
The youngest of Baby-Boomers are now eyeing 40
We are in the midst of the greatest transfer of wealth in history
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U.S. Business Environment (cont.)
We are in the most positive sales environment we have ever seen
Our products have what consumers want and need today
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U.S. Business Environment (cont.)
Our products have:
Safety Tax Advantages Competitive Yields/Rates Liquidity Estate Planning Advantages Protection for Families
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Why Fidelity & Guaranty Life
We have 5 core values that form the foundation to provide the best life and annuity products in the marketplace
Integrity - customer satisfaction is our #1 priority and is the cornerstone for all of our business activities
Professionalism - we strive to exceed the expectations of our policyholders and distribution
Innovation - by listening to and understanding what the market needs, we constantly look for unmet needs and continue to develop innovative products to meet those needs
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Why Fidelity & Guaranty Life (cont.)
Service - we recognize that service is the name of the game and are striving to ensure that are distribution is given the level of service they need and deserve
Teamwork - we place a strong emphasis on teamwork and customer feedback by encouraging open communication from our key stakeholders which enables us to achieve higher levels of innovation, success and dedication
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Why Fidelity & Guaranty Life (cont.)
With Fidelity & Guaranty Life, you have a solid partner for your financial future
With Fidelity & Guaranty Life, you have a company built upon the promise that
Life Keeps Getting Better!!!
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