Maxwell Fisher

Maxwell Fisher asked for any updates on the government shutdown and if Unum was seeing any effect on new disability awards.

Answer

EVP of Group Benefits Chris Pyne stated that Unum is currently operating with 'all systems go' and has not observed any particular impact from the government shutdown. He mentioned that Unum has a playbook ready for such events, but generally, they do not significantly affect operations.

Speaking on behalf of Mark Hughes, Maxwell Fitcher asked if there has been any progress in targeting a younger demographic with the company's new RILA products during the third quarter and early fourth quarter.

Answer

CEO Chris Blunt responded that RILA sales volumes are currently too small to draw meaningful conclusions about the demographic of buyers. However, he noted that the broader industry trend for RILA products is reaching a younger demographic, and he would be surprised if F&G's experience proved to be an outlier to that trend over time.

Speaking for Mark Hughes, Maxwell Fisher asked about the reasons for the lower average commitment size in Q3 and how the combined OBDC/OBDE entity will prioritize common equity investments.

Answer

President Logan Nicholson clarified that the smaller average investment size was a function of being at target leverage with less available capital, not a strategic shift. CFO Jonathan Lamm added that OBDC's higher equity concentration is due to strategic investments not present in OBDE; post-merger, the combined equity percentage will initially be lower but will provide room for future growth.