F&G Annuities & Life Inc ( (FG) ) has released its Q1 earnings. Here is a breakdown of the information F&G Annuities & Life Inc presented to its investors.
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F&G Annuities & Life Inc., headquartered in Des Moines, Iowa, is a prominent provider of insurance solutions, specializing in retail annuity and life insurance products for both individual and institutional clients.
In the first quarter of 2025, F&G Annuities & Life Inc. reported a net loss of $25 million, compared to a net profit of $111 million in the same period the previous year. Despite this setback, the company achieved record assets under management (AUM) of $67.4 billion, a 16% increase from the prior year, driven by robust indexed annuity sales.
Key financial highlights include adjusted net earnings of $91 million, or $0.72 per share, down from $108 million, or $0.86 per share, in the first quarter of 2024. The company’s adjusted return on equity, excluding accumulated other comprehensive income (AOCI), rose to 9.7% from 7.4% a year earlier. F&G also completed a public offering of 8 million shares, raising nearly $269 million to support organic growth.
F&G’s investment portfolio remains strong, with 96% of fixed maturities rated as investment grade. The company continues to focus on organic growth and capital returns to shareholders, distributing $30 million in dividends during the quarter.
Looking ahead, F&G’s management remains optimistic about achieving its medium-term targets, emphasizing a solid foundation and strategic capital allocation to navigate economic uncertainties and capitalize on growth opportunities.