F&G Annuities & Life CEO to Retire; Murphy to Take Over

By Tamara Parker • Tuesday, June 16 16:08 • Permanent Link

F&G Annuities & Life is reshaping its top ranks as it moves deeper into a more fee-based, higher-margin business mix.

Chris Blunt, who has led the company since 2019, will retire as chief executive officer of F&G on June 30, 2026, while remaining on the board and continuing as chief executive officer of Peak Altitude Equity, the company’s owned distribution business. Conor Murphy, currently president and chief financial officer, will take over as chief executive officer and president on the same date.

The leadership change comes after a period of expansion under Blunt. The company said its assets under management have nearly tripled since he joined in 2019. During that span, F&G said it diversified its products and distribution and expanded into capital-light businesses, including flow reinsurance and owned distribution.

Murphy joined F&G in April 2025 and became president and CFO on August 7, 2025. He has 38 years of financial services experience, including 33 years in insurance. Before F&G, he was president and CEO of Resolution Life US, and previously spent five years as executive vice president and chief operating officer at Brighthouse Financial.

F&G also named Michael Bailey as executive vice president and chief financial officer, effective August 3, 2026. Bailey most recently served as retail chief financial officer of Corebridge Financial. He has 27 years of actuarial and financial experience in the life and annuity industry.

Until Bailey starts, Mark Wiltse will serve as interim chief financial officer. Wiltse has been F&G’s chief accounting officer since May 2020 and has more than 30 years of accounting experience in insurance and financial services.

The company said Blunt will focus on a formal process to explore strategic alternatives for Peak Altitude, with the goal of growing the business and maximizing value for shareholders. Murphy said F&G is moving toward a more fee-based, higher-margin and less capital-intensive model, while continuing disciplined growth in spread-based products. Today the company's shares have moved -5.09% to a price of $27.21. If you want to know more, read the company's complete 8-K report here.

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