Chris Blunt, CEO of F&G Annuities & Life, Inc., an insurance company serving retail annuities, life and institutional clients, will retire to focus on his role as director of F&G and CEO of subsidiary Peak Altitude Equity, LLC.
As a result, Conor Murphy, currently President and Chief Financial Officer (CFO), will assume the expanded role of Chief Executive Officer and President. Both appointments are effective June 30, 2026.
In addition, F&G has appointed Michael Bailey as executive vice president (EVP) and chief financial officer, effective August 3, 2026, and current chief accounting officer Mark Wiltse will serve as interim chief financial officer until August 3, 2026.
“Chris Blunt has been a transformational leader who has developed and executed a diversified growth strategy that has nearly tripled F&G’s assets under management since joining in 2019,” said William P. Foley, II, Chairman of the F&G Board of Directors.
“Chris’ strategic focus is to diversify F&G’s product and distribution offerings and expand into capital-light businesses, including value-added flow reinsurance and captive distribution strategies. Going forward, Chris will focus on leading the formal process to explore strategic alternatives for Peak Altitude to capture its significant growth opportunities and unlock value for F&G shareholders.”
Foley added: “I am also pleased that Conor Murphy will transition to CEO and President and continue to execute on the strategic initiatives initiated by Chris. Conor has extensive experience in the U.S. and international insurance industry and the impact he has made since joining the company last year has been evident.
“Importantly, F&G is at an inflection point as the business further transforms into a more fee-based, higher-margin and less capital-intensive business, which will generate stable long-term earnings growth and higher returns going forward. We believe this will have a significant impact on the company’s valuation over time and view Conor as the right leader as we enter the next phase of growth and value creation for shareholders.”
Blunt has served as CEO of F&G since 2019, following a 34-year career in insurance, investment management and wealth management roles. Going forward, in his other roles, Blunt will focus on leading formal processes to explore strategic alternatives for Peak Altitude to drive business growth and maximize the value of F&G.
Prior to joining F&G, he spent nearly 13 years at New York Life in various executive leadership roles, most recently as CEO of Blackstone Insurance Solutions. Blount currently serves as Vice Chairman of the YMCA Retirement Fund and is Chairman of the Board of Directors of LL Global (LIMRA and LOMA).
Blunt said: “Over the past seven years, I have led F&G through a period of rapid growth and change. It has been an honor to serve this great company, and I want to thank our team for their extraordinary efforts. I also value the support of Bill Foley, the Fidelity National Financial, Inc. Board of Directors, and the F&G Board of Directors.”
“I believe now is the right time to make this transition and would like to thank Conor for his cooperation and advice. Conor is a trusted and experienced business partner who has made a huge impact since joining the company and is well-positioned to lead F&G forward and achieve future growth and success. Additionally, I welcome Mike Bailey to F&G. He is an outstanding addition to the team.”
Murphy joined F&G as chief financial officer in April 2025 and brings 38 years of experience, including various executive roles with leading insurance companies in the United States and abroad. Prior to joining F&G, he served as President and CEO of Resolution Life US for three years.
Murphy added, “I am honored to take on this expanded role and have tremendous appreciation for all that Chris has done to lead the company. I look forward to continuing the momentum we have built to drive growth in assets under management with attractive and stable liabilities. We are rapidly transforming into a more fee-based, higher-margin and less capital-intensive business, coupled with disciplined growth in our spread-based products. This strategic shift is expected to provide strong cash generation, higher returns and create long-term shareholder value in the coming years.”
He continued, “I am also pleased to have Mike Bailey join the F&G executive team. Mike is an accomplished executive with deep financial expertise and extensive experience in the life and annuity insurance industry. He is well-suited to oversee our financial management and help guide our business and strategic capital allocation as we continue to focus on delivering long-term shareholder value. I would also like to thank Mark Wiltse Serving as interim chief financial officer, Mark brings deep financial management and operational expertise to guide our strong financial organization during the transition.”
In his new role, Bailey will report to Murphy. He has 27 years of actuarial and financial experience in the life and annuity industry, most recently as retail chief financial officer for Corebridge Financial, Inc.
Bailey spent 13 years with Corebridge and AIG, holding senior leadership roles in the United States and internationally, serving as chief financial officer of the global life and health division and chief financial actuary of the life insurance and employee benefits division. Prior to that, he served as vice president and actuary at MetLife for five years and spent the first nine years of his career as a consulting actuary at Milliman, Inc.
Wiltse joined F&G in 2016 as vice president of finance and has served as senior vice president, chief accounting officer since May 2020. He has more than 30 years of accounting experience in the insurance and financial services industries.
Previously, Wiltse served as senior vice president and chief financial officer of Accordia Life and held various senior financial positions at Aviva USA, CUNA Mutual Group and Nationwide Financial.
