Welcome to our dedicated page for F&G Annuities & Life news (Ticker: FG), a resource for investors and traders seeking the latest updates and insights on F&G Annuities & Life stock.
F&G Annuities & Life, Inc. (NYSE: FG) is a leading provider of insurance solutions, serving retail annuity and life customers as well as institutional clients. Headquartered in Des Moines, Iowa, the company operates through its subsidiaries including FGL Insurance and Fidelity & Guaranty Life Insurance Company of New York.
F&G offers a diverse portfolio of products such as deferred annuities, including fixed indexed annuities (FIAs) and multi-year guarantee annuities (MYGAs), immediate annuities, indexed universal life (IUL) insurance, funding agreements through funding agreement-backed notes (FABN) issuances, and pension risk transfer (PRT) solutions.
Despite a challenging market environment, F&G reported a net loss for the fourth quarter and full year 2023, primarily due to unfavorable mark-to-market effects. However, the company's adjusted net earnings remained positive, reflecting its robust underlying performance. For the fourth quarter of 2023, F&G achieved record gross sales of $4.1 billion, a 52% increase from the same period in the previous year, driven by strong retail and institutional market sales. Assets under management also reached a record of $49.5 billion as of December 31, 2023.
Recent highlights include being voted #1 for customer satisfaction among U.S. annuity providers by J.D. Power and receiving rating upgrades from A.M. Best and Moody's. The company also successfully launched a new RILA product, which is expected to drive future sales growth.
F&G's strategic initiatives include expanding its flow reinsurance partners, enhancing its investment margin opportunities, and maintaining a strong and stable capital position. The company has substantial liquidity with an estimated statutory company action level risk-based capital (RBC) ratio of approximately 440% as of December 31, 2023.
In addition to its financial performance, F&G has been active in the capital markets, including a recent preferred stock investment from its parent company, Fidelity National Financial, Inc. (FNF), which will support the growth of its assets under management. The company also announced a cash tender offer for its 5.50% Senior Notes due 2025, demonstrating its proactive approach to managing its debt and capital structure.
Overall, F&G is well-positioned for continued profitable growth, driven by its diversified product offerings, strong distribution relationships, and commitment to customer satisfaction.
F&G Annuities & Life (NYSE: FG) has announced its Board of Directors' declaration of quarterly cash dividends for both common and preferred stockholders. Common shareholders will receive $0.22 per share, payable on March 31, 2025, to stockholders of record as of March 17, 2025. Additionally, holders of the company's 6.875% Series A Mandatory Convertible Preferred Stock will receive a quarterly dividend of $0.859375 per share, to be paid on April 15, 2025, to holders of record as of April 1, 2025.
F&G, headquartered in Des Moines, Iowa, is a leading provider of insurance solutions serving retail annuity and life customers and institutional clients.
Fidelity National Financial (NYSE: FNF) has declared a quarterly cash dividend of $0.50 per share of common stock. The dividend will be paid on March 31, 2025, to stockholders of record as of March 17, 2025.
FNF operates as the nation's largest title insurance company through its underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title and National Title of New York. The company serves as a leading provider of title insurance and transaction services to real estate and mortgage industries. Additionally, through its majority-owned subsidiary F&G Annuities & Life (NYSE: FG), FNF provides insurance solutions to retail annuity and life customers and institutional clients.
F&G Annuities & Life (NYSE: FG) has announced key executive changes effective April 1, 2025. Current CFO Wendy Young will transition to the newly created position of Chief Liability Officer, where she will lead liability management, reinsurance activities, and offshore entities. Conor Murphy has been appointed as the new Chief Financial Officer.
The organizational restructuring comes as F&G has experienced significant growth, more than doubling its assets under management through product diversification and distribution expansion. Murphy brings extensive industry experience, having previously served as President and CEO of Resolution Life US and held executive positions at Brighthouse Financial and MetLife.
CEO Chris Blunt emphasized that these changes are designed to effectively manage the company's growth and scale while maximizing profitability and return on equity for long-term shareholder value.
Fidelity National Financial (FNF) reported strong financial results for Q4 and full year 2024. Net earnings attributable to common shareholders reached $450 million ($1.65 per share) in Q4 2024, compared to a net loss of $69 million in Q4 2023. Full-year net earnings were $1.3 billion ($4.65 per share).
The Title Segment delivered strong performance with total revenue of $2.0 billion in Q4 and $7.7 billion for the full year, showing increases of 23% and 9% respectively over 2023. The segment achieved an industry-leading adjusted pre-tax title margin of 16.6% in Q4.
The F&G Segment achieved record assets under management of $65.3 billion, a 17% increase over Q4 2023. Full-year gross sales reached a record $15.3 billion, up 16% from 2023. F&G contributed 38% of FNF's consolidated adjusted net earnings for 2024, compared to 30% in 2023.
F&G Annuities & Life (NYSE: FG) reported strong financial results for Q4 and full year 2024. Net earnings for Q4 were $323 million ($2.50 per share), compared to a loss of $299 million in Q4 2023. Full year net earnings reached $622 million ($4.88 per share), up from a loss of $58 million in 2023.
The company achieved record gross sales of $15.3 billion for 2024, a 16% increase over 2023, driven by strong retail and pension risk transfer sales. Assets under management (AUM) reached a record $65.3 billion, up 17% year-over-year. The company's adjusted ROE expanded to over 12% for 2024, compared to 10% in 2023.
F&G maintained strong capital position with an estimated risk-based capital (RBC) ratio over 410%, above their 400% target. The company returned $125 million to shareholders through dividends in 2024, and completed several capital market activities including issuing $500 million in senior notes and $375 million in junior subordinated notes.
F&G Annuities & Life (NYSE: FG) has announced its schedule for the release of fourth quarter and full year 2024 earnings results. The company will release its financial results after market close on Thursday, February 20, 2025, followed by a webcast and conference call at 9:00 a.m. Eastern Time on Friday, February 21, 2025.
Investors can access the webcast through F&G's Investor Relations website at investors.fglife.com. For telephone participation, participants can dial 1-877-407-3982 (USA) or 1-201-493-6780 (International). A conference call replay will be available via webcast through the company's Investor Relations website.
Fidelity National Financial (NYSE: FNF) has scheduled its fourth quarter and full year 2024 earnings release for Thursday, February 20, 2025, after market close. The company will host a conference call and webcast to discuss the results on Friday, February 21, 2025, at 11:00 a.m. Eastern Time.
FNF operates as a leading provider of title insurance and transaction services to real estate and mortgage industries. Through its majority-owned subsidiary F&G Annuities & Life (NYSE: FG), it also provides insurance solutions for retail annuity and life customers and institutional clients. FNF maintains its position as the nation's largest title insurance company through its underwriters: Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title, and National Title of New York.
F&G Annuities & Life (NYSE: FG) has announced that its subsidiary, Fidelity & Guaranty Life Holdings (FGLH), will redeem all outstanding $300 million aggregate principal amount of its 5.50% Senior Notes on February 1, 2025. The notes were originally due May 1, 2025.
The redemption price will equal 100% of the principal amount plus accrued and unpaid interest up to, but excluding, the redemption date. Interest will cease to accrue on the notes after the redemption date. Beneficial owners of the notes should contact their bank, broker, or nominee for information about the redemption payment.
F&G Annuities & Life (NYSE: FG) has announced the pricing of a public offering of $375 million in junior subordinated notes, due 2065, with a 7.300% interest rate. The offering is expected to close on January 13, 2025, subject to customary conditions.
The company plans to use the net proceeds for general corporate purposes, including the repurchase, redemption, or repayment of outstanding debt at maturity. The offering is being managed by a group of prominent financial institutions including Wells Fargo Securities, BofA Securities, J.P. Morgan Securities, Morgan Stanley & Co., and RBC Capital Markets as joint book-running managers.
The public offering is being conducted through a registration statement filed with the SEC, with prospectus and supplementary materials available through various channels.
Fidelity National Financial (NYSE: FNF) announced that CEO Mike Nolan and CFO Tony Park will participate in a fireside chat at the Stephens Annual Investment Conference on Tuesday, November 19, 2024, at 9:00 am Eastern Time. The event will be accessible via live audio webcast and replay on investor.fnf.com.
FNF is a leading provider of title insurance and transaction services to real estate and mortgage industries. Through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title, and National Title of New York - FNF stands as the nation's largest title insurance company. The company also provides insurance solutions through its majority-owned subsidiary F&G Annuities & Life (NYSE: FG).
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