F&G, a leading provider of annuities and life insurance based in Des Moines, announced that the company has surpassed $1 billion in sales in its financial institutions channel, less than one year after launching that sales channel. Debuting in July 2020 with Raymond James, F&G has experienced significant growth in this space and remains a top-five carrier in fixed index annuity sales. F&G’s financial institutions channel partners with banks and broker dealers, including Raymond James and others, to offer fixed and fixed index annuities. F&G CEO Chris Blunt said in a prepared statement that the milestone reflects his team’s “commitment to developing simple and competitive products which consumers want and advisors want to use, while providing a high-quality experience to our bank and broker dealer distribution partners.” F&G plans to broaden its financial institutions business with like-minded partners, said Dan Farrelly, F&G’s head of the financial institutions channel. According to its parent company FNF’s first-quarter earnings report released last week, F&G’s total retail annuity sales were $1.64 billion in the first quarter, up 57% from the prior year and an increase of 16% from the sequential quarter. Average assets under management increased to $29 billion in the first quarter, up from $27.9 billion in the fourth quarter, driven by net new business asset flows.