F&G Life Moves to New Corporate Headquarters in Baltimore City.
BALTIMORE--(BUSINESS WIRE)--June 21, 2000
Fidelity & Guaranty Life (F&G Life) Insurance Company, a leading provider of life insurance and annuity products, today announced the signing of a 10-year lease for 56,000 square feet of new office space in downtown Baltimore.
The lease was signed with H&S Properties Development Corporation, the developer and owner of the 163,000 square foot, six-story office building under construction at 1001 Fleet Street in Inner Harbor East. F&G Life anticipates taking occupancy this November.
"We are very pleased that our corporate headquarters will remain in Baltimore City," said F&G Life President Harry N. Stout. "Since moving to our current downtown location in August 1996, we have literally outgrown the facility due to a 75 percent increase in our employment level."
F&G Life will occupy two floors of the office building, doubling its current square footage at 100 East Pratt Street. "This move meets our business needs and will allow us to continue to contribute to the economic growth of Baltimore City," said Stout.
"F&G Life has been a good community member and corporate citizen in the Baltimore area for 40 years," said Mayor Martin O'Malley of Baltimore City. "I am pleased that we were able to play a role in the retention of the company's corporate headquarters in Baltimore City."
"F&G Life joins a growing list of companies that see Baltimore City's east side neighborhoods as offering the right mix of amenities needed to attract and retain employees," said M. J. "Jay" Brodie, President of the Baltimore Development Corporation. "We're happy that F&G Life has decided to locate their new corporate headquarters in Inner Harbor East, " said Michael S. Beatty, Vice President of H&S Properties. "This unique mixed-use development located along four blocks of Baltimore's famed Inner Harbor is an enticing destination for local businesses looking for new class A office space."
The $57 million project also includes a Courtyard by Marriott, retail space anchored by a Fresh Fields Whole Foods Market, and a parking garage.
Douglas Schmidt, Senior Associate with CB Richard Ellis, represented F&G Life in the transaction. CB is also managing the construction and move for F&G Life. CB Richard Ellis is the world's largest real estate service provider.
F&G Life, with more than $5.8 billion in assets, has offered a diverse portfolio of annuities and life insurance products since 1959. The company is a leading provider in the equity indexed annuity, single premium deferred annuity, tax-sheltered annuity, structured settlement annuity, term, and universal life insurance markets.
F&G Life is a subsidiary of The St. Paul Companies. For more information, visit the company's web site at http://www.fglife.com.
The St. Paul Companies (NYSE: SPC), headquartered in Saint Paul, Minn., is a group of companies providing property-liability insurance and reinsurance products and services worldwide. The St. Paul ranked No. 204 on the Fortune 500 list of largest U.S. companies and reported 1999 revenues of more than $7.5 billion and total assets of $38.9 billion.