FGL to expand downtown office space
BUSINESS RECORD STAFF Dec 23, 2019 | 4:15 pm
1 min read time196 wordsAll Latest News, Economic Development, Insurance & Investments
Des Moines-based Fidelity & Guaranty Life Co. plans a move late next year to 801 Grand. The life and annuity insurer, which currently employs about 200 people in Two Ruan Center, plans to add at least 60 more employees with the expansion. On Friday the Iowa Economic Development Authority board approved tax incentives totaling $227,478 for the project, which represents a capital investment of more than $5.6 million by the company. FGL, which currently occupies 50,000 square feet in Ruan 2, plans to move sometime in the fourth quarter of 2020 to 83,000 square feet in 801 Grand. “Just generally we’re growing and diversifying the business,” said Renee Hamlen, a company spokesperson. FGL’s fixed indexed annuity sales have increased by about 25% this year, she said. The company had an average of $27 billion of assets under management at the end of the third quarter. A contractor for the office renovation project has not yet been selected, Hamlen said. The city of Des Moines plans to provide a 20% downtown parking discount for five years to the company worth $108,000. To read a Business Record Insider profile of FGL President and CEO Chris Blunt, click here.