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F&G Annuities Reports Lower Earnings Amid Strategic Reshaping

Story Highlights
  • F&G’s 2025 net and adjusted earnings declined year over year, even as record assets under management, strong credit performance, and solid capital ratios underscored operational resilience and balance sheet strength.
  • The insurer advanced its strategic pivot to a more fee-based model, selling its Bermuda unit, boosting public float via FNF’s share distribution, and returning significant capital to shareholders while maintaining robust core product sales.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
F&G Annuities Reports Lower Earnings Amid Strategic Reshaping

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F&G Annuities & Life Inc ( (FG) ) has provided an update.

F&G Annuities & Life reported on February 19, 2026 that fourth-quarter 2025 net earnings attributable to common shareholders fell to $124 million, or $0.92 per share, from $323 million a year earlier, with full-year 2025 net earnings down to $248 million from $622 million in 2024. Adjusted net earnings also declined year over year, but the insurer delivered record assets under management before flow reinsurance of $73.1 billion, robust but slightly lower annual sales, strong credit performance, and an estimated 430% RBC ratio, while advancing a shift toward a more fee-based model and returning $137 million to shareholders through dividends.

The company highlighted $14.6 billion of gross sales in 2025, including $9 billion from core products, steady adjusted ROA of 0.87% and adjusted ROE ex-AOCI of 8.2%, and continued cost discipline despite lower alternative investment returns versus long-term expectations. Strategically, F&G moved to sell its Bermuda reinsurance subsidiary, completed a distribution of roughly 12% of its shares by majority owner Fidelity National Financial to FNF shareholders that lifted its public float to 30% while FNF retained about 70% ownership, and emphasized that these capital and ownership actions position the business for long-term growth and improved market liquidity for investors.

The most recent analyst rating on (FG) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on F&G Annuities & Life Inc stock, see the FG Stock Forecast page.

Spark’s Take on FG Stock

According to Spark, TipRanks’ AI Analyst, FG is a Outperform.

F&G Annuities & Life Inc receives a strong overall score due to its robust financial performance, attractive valuation, and positive corporate events. The earnings call and technical analysis further support the stock’s potential, despite some challenges in profitability and cash flow growth.

To see Spark’s full report on FG stock, click here.

More about F&G Annuities & Life Inc

F&G Annuities & Life Inc., listed on the NYSE as FG, is a leading provider of insurance solutions focused on retail annuity and life customers as well as institutional clients. The company concentrates on core products such as indexed annuities, indexed universal life policies and pension risk transfer solutions, supported by a large, diversified fixed-income investment portfolio.

Average Trading Volume: 636,907

Technical Sentiment Signal: Sell

Current Market Cap: $3.84B

For an in-depth examination of FG stock, go to TipRanks’ Overview page.

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