Last updated October 12, 2026. California rates are refreshed weekly; confirm today’s rate before you apply.
F&G (Fidelity & Guaranty Life) is one of the larger fixed index annuity companies sold through independent agents. I’m Kevin Edwards, an independent California annuity agent. Here’s who owns F&G, how AM Best rates it, and what its annuities pay in California this week, compared with the rest of the market.
F&G at a Glance
| Issuing company | Fidelity & Guaranty Life Insurance Company (Des Moines, Iowa) |
| Parent | F&G Annuities & Life, Inc., about 70% owned by Fidelity National Financial (FNF) |
| AM Best rating | A (Excellent), affirmed March 31, 2026, stable outlook |
| Sold in California | 3 MYGAs and 10 fixed index annuities in this week’s data |
| Best CA MYGA yield | 5.55% for 7 years (FG Guarantee-Platinum 7) |
| Best CA S&P 500 cap | 10.25% with a 10-year surrender period (FG AccumulatorPlus 10) |
Who Owns F&G?
Fidelity & Guaranty Life Insurance Company is part of F&G Annuities & Life, Inc., which is headquartered in Des Moines, Iowa. Fidelity National Financial (FNF), the title insurance company, is the majority owner. FNF distributed about 12% of F&G’s shares to its own shareholders on December 31, 2025, and kept roughly 70% of F&G afterward, according to F&G’s 2025 annual report.
F&G’s Financial Strength
On March 31, 2026, AM Best affirmed the A (Excellent) financial strength rating of Fidelity & Guaranty Life Insurance Company, with a stable outlook. AM Best credits the group’s strong balance sheet and liquidity and its top-10 position in fixed index annuities sold through independent agents.
AM Best also flagged weaknesses: growing use of reinsurance, captive financing and surplus notes reduce the quality of its capital, and its investments in private credit and mortgage-related assets add risk. It noted that F&G’s low history of credit losses and Blackstone’s investment management partly offset that.
F&G Annuity Rates in California This Week
Full market tables are on my California MYGA rates and California fixed index annuity rates pages.
F&G MYGAs (FG Guarantee-Platinum)
| Product | Term | Guaranteed yield | Deposit for this rate | Lowest entry | MVA | Notes |
|---|---|---|---|---|---|---|
| FG Guarantee-Platinum 3 | 3 years | 5.15% | $20,000+ | Same | No | — |
| FG Guarantee-Platinum 5 | 5 years | 5.50% | $20,000+ | Same | No | — |
| FG Guarantee-Platinum 7 | 7 years | 5.55% | $20,000+ | Same | No | — |
F&G Fixed Index Annuities (S&P 500 annual cap)
| Product | Surrender period | S&P 500 cap | Guaranteed min. cap | Riders | Notes |
|---|---|---|---|---|---|
| FG AccumulatorPlus 7 | 7 years | 10.00% | 1.00% | None | MVA |
| Prosperity Elite 7 Enhancement | 7 years | 7.50% | 1.00% | Rider required | MVA |
| Prosperity Elite 7 Protection | 7 years | 7.50% | 1.00% | Must elect 1 of 3 | MVA |
| FG AccumulatorPlus 10 | 10 years | 10.25% | 1.00% | None | MVA |
| Flex Accumulator | 10 years | 9.50% | 1.00% | 2 optional | MVA |
| FG Accelerator Plus 10 | 10 years | 9.25% | 1.00% | Rider required | MVA |
| Prosperity Elite 10 Enhancement | 10 years | 7.75% | 1.00% | Rider required | MVA |
| Prosperity Elite 10 Protection | 10 years | 7.75% | 1.00% | Must elect 1 of 3 | MVA |
| Performance Pro with GMWB | 10 years | 5.75% | 1.00% | Rider required | MVA |
| Safe Income Advantage | 10 years | 2.25% | 1.00% | 3 optional | MVA |
My Take on F&G
Where F&G fits: fixed index annuity buyers who want an A-rated carrier with a 1.00% guaranteed minimum cap. FG AccumulatorPlus 10 starts at a 10.25% cap, and every F&G index annuity here guarantees the cap can’t renew below 1.00%, which is higher than many competitors’ floors.
What to watch:
- F&G’s MYGAs pay the same rate from $20,000 with no market value adjustment, but they trail the market: 5.50% for 5 years versus 6.10% at the top, and 5.55% for 7 years versus 6.20%.
- At 7 and 10 years, F&G’s best caps sit 1.65 to 1.75 points below the California leader.
- The Prosperity Elite, Accelerator Plus, Performance Pro and Safe Income versions are built around riders and carry lower caps (2.25% to 9.25%). Choose them only if you’ll use the rider, and ask what it costs.
- Every F&G index annuity in this week’s data carries an MVA.
How F&G Compares in California
| Term | F&G (best) | Best in California | Leader |
|---|---|---|---|
| 3-year MYGA | 5.15% | 5.70% | Oxford Life Multi-Select 3 |
| 5-year MYGA | 5.50% | 6.10% | Aspida Synergy Choice 5 / Axonic Waypoint 5 |
| 7-year MYGA | 5.55% | 6.20% | Oxford Life Multi-Select 7 |
| 7-year S&P 500 cap | 10.00% | 11.65% | Delaware Life Retirement Stages Select 7 |
| 10-year S&P 500 cap | 10.25% | 12.00% | Delaware Life Target Growth 10 |
For an A-rated alternative with higher caps, see my Global Atlantic review, or browse all annuity company reviews.
Frequently Asked Questions
Is F&G a good annuity company?
Fidelity & Guaranty Life Insurance Company holds an A (Excellent) financial strength rating from AM Best, affirmed March 31, 2026 with a stable outlook. Whether its products fit you depends on how its rates and features compare with other carriers for your deposit and timeline.
Who owns F&G annuities?
F&G Annuities & Life, Inc. is majority owned by Fidelity National Financial (FNF), which kept about 70% after distributing roughly 12% of F&G’s shares to its shareholders on December 31, 2025.
What is F&G’s best annuity rate in California?
As of October 12, 2026, F&G’s best California MYGA yield is 5.55% for 7 years (FG Guarantee-Platinum 7), and its highest S&P 500 annual cap is 10.25% (FG AccumulatorPlus 10).
Do F&G MYGAs have a market value adjustment?
No. The FG Guarantee-Platinum MYGAs in this week’s California data do not carry an MVA, and they pay the same rate from a $20,000 deposit.
Get a Side-by-Side Quote Before You Buy F&G
I’m an independent agent, so I’m not tied to F&G or any other carrier. Tell me your deposit, timeline and whether you need income, and I’ll compare F&G’s products against the rest of the California market and send you the side-by-side. Request a free annuity quote, or call (877) 854-7396.
Sources
- AM Best Affirms Credit Ratings of Fidelity & Guaranty Life Holdings, Inc. and Its Life/Health Subsidiaries (Mar. 31, 2026)
- F&G Annuities & Life, Inc. Form 10-K for 2025 (SEC)
- FNF announcement of partial distribution of F&G shares (SEC)
- California fixed annuity (MYGA) rates, Fixed Annuity Expert
- California fixed index annuity rates, Fixed Annuity Expert
Rate source: AnnuityRateWatch.com carrier data via AIP Marketing Alliance, retrieved October 12, 2026, filtered to products available to California residents. MYGA rows show guaranteed yield to surrender; FIA rows show the S&P 500 annual point-to-point cap on strategies with a 0% floor, no strategy fee and a stated guaranteed minimum cap. Products sold only through fee-based advisory accounts are excluded. Rates change without notice and must be verified with the issuing carrier at application.
Kevin Edwards, Integrity Now Insurance Brokers. California Insurance License #0D42517. Annuities are insurance products, not bank deposits, and are not FDIC insured. Fixed index annuities are not a direct investment in the stock market or any index; index-linked interest is subject to caps the insurer may change annually, subject to the guaranteed minimum. Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Financial strength ratings are opinions of the rating agency, can change at any time, and are not a guarantee of an insurer’s ability to pay claims. Withdrawals before the end of the surrender period may be subject to surrender charges and market value adjustments; withdrawals of taxable amounts may be subject to ordinary income tax and, if taken before age 59½, a 10% federal tax penalty. This page is independent and is not affiliated with or endorsed by any insurance company named. It is for educational purposes and is not tax or legal advice. Product availability and features vary by state. S&P 500® is a registered trademark of Standard & Poor’s Financial Services LLC.