Business
F&G Annuities & Life Reports First Quarter 2025 Results
F&G Annuities & Life, Inc. (NYSE: FG) (F&G or the Company) a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, today reported financial results for the first quarter ended March 31, 2025.
About this update from F&g Annuities & Life, Inc.
[{"type":"text","content":"DES MOINES, Iowa, May 7, 2025 /PRNewswire/ -- F&G Annuities & Life, Inc. (NYSE: FG) (F&G or the Company) a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, today reported financial results for the first quarter ended March 31, 2025.","length":304,"tagName":"p"},{"type":"text","content":"Net loss attributable to common shareholders (net loss) for the first quarter of $25 million, or $0.20 per diluted share (per share), compared to net earnings of $111 million, or $0.88 per share, for the first quarter of 2024. Net loss for the first quarter included $105 million of net unfavorable mark-to-market effects and $11 million of other unfavorable items; all of which are excluded from adjusted net earnings. Net earnings for the first quarter of 2024 included $17 million of net favorable mark-to-market effects and $14 million of other unfavorable items; all of which are excluded from adjusted net earnings.","length":638,"tagName":"p"},{"type":"text","content":"Adjusted net earnings attributable to common shareholders (adjusted net earnings) for the first quarter of $91 million, or $0.72 per share, compared to $108 million, or $0.86 per share, for the first quarter of 2024. Adjusted net earnings include significant income and expense items and alternative investment portfolio returns from short-term mark-to-market movement that differ from long-term return expectations. Please see the "First Quarter 2025 Results" and "Non-GAAP Measures and Other Information" sections for further explanation.","length":571,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Summary","length":26,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Record assets under management despite near-term pressures, driven by continued strong indexed annuity sales: F&G achieved record assets under management before flow reinsurance of $67.4 billion at the end of the first quarter, an increase of 16% over the first quarter of 2024. This included retained AUM of $54.5 billion. F&G's gross sales were $2.9 billion and net sales were $2.2 billion for the first quarter","length":425,"tagName":"p"}]},{"val":[{"type":"text","content":"Excellent credit performance in the investment portfolio: As we expected, the investm...