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, Inc (NYSE: FG) has announced a strategic collaboration with Accenture (NYSE: ACN) to enhance its technology platform capabilities using Accenture's Life Insurance and Annuity Platform (ALIP). This cloud modernization program aims to optimize and scale operations for future growth in F&G's retail annuity business. The ALIP platform, running on Microsoft Azure, will help F&G:
1. Improve customer, agent, and distributor experiences
2. Streamline new application processing
3. Automate tasks to enhance case manager productivity
4. Offer personalized services and faster response times
5. Provide greater transparency and support for its partner network
This collaboration positions F&G to gain operational efficiencies, expand distribution channels, and drive innovation in its annuity business.
Fidelity National Financial (NYSE: FNF) has announced that CEO Mike Nolan and CFO Tony Park will participate in a fireside chat at the Barclays Global Financial Services Conference on September 10, 2024, at approximately 12:00 pm Eastern Time. The event will be available via live audio webcast and replay on investor.fnf.com.
FNF is a leading provider of title insurance and transaction services to the real estate and mortgage industries. It's also a major provider of insurance solutions for retail annuity and life customers through its subsidiary F&G Annuities & Life (NYSE: FG). FNF is the largest title insurance company in the United States, operating through multiple underwriters that collectively issue more title insurance policies than any other company in the country.
F&G Annuities & Life (NYSE: FG) has announced that CEO Chris Blunt and CFO Wendy Young will participate in a fireside chat at the KBW Insurance Conference on September 5, 2024 at 2:20 p.m. Eastern Time. This event provides an opportunity for investors and analysts to gain insights into F&G's strategies and financial performance.
The fireside chat will be available live and for replay via audio webcast on the company's investor relations website, investors.fglife.com. This accessibility ensures that stakeholders who cannot attend the conference in person can still benefit from the discussion and stay informed about F&G's latest developments.
Fidelity National Financial (FNF) reported strong Q2 2024 results, with net earnings of $306 million ($1.12 per share) and adjusted net earnings of $338 million ($1.24 per share). The Title Segment contributed $241 million, while the F&G Segment added $122 million. Key highlights include:
- Title Segment revenue of $1.9 billion, with an adjusted pre-tax title margin of 16.2%
- F&G Segment achieved record gross sales of $4.4 billion, a 47% increase year-over-year
- F&G reached record assets under management of $52.2 billion
- FNF paid common dividends of $0.48 per share, totaling $131 million
The company's performance demonstrates successful adaptation to current market conditions, with strong demand for F&G's products and continued strength in the Title business.
F&G Annuities & Life (NYSE: FG) reported strong Q2 2024 results, with net earnings of $198 million ($1.55 per share) and adjusted net earnings of $139 million ($1.10 per share). The company achieved record gross sales of $4.4 billion, a 47% increase year-over-year, driven by strong retail and institutional sales. Assets under management reached $52.2 billion, up 13% from Q2 2023. F&G's performance was bolstered by strong demand for its products, investment performance, and disciplined expense management. The company returned $32 million to shareholders through dividends and remains on track to meet its Investor Day targets.
Fidelity National Financial (NYSE: FNF) has announced a new three-year stock repurchase program approved by its Board of Directors. The program, effective July 31, 2024, allows FNF to repurchase up to 25 million shares of its common stock through July 31, 2027. Purchases can be made in the open market at prevailing prices or through privately negotiated transactions.
This new program follows the expiration of FNF's previous three-year repurchase program on July 31, 2024, under which the company repurchased 16.4 million shares. FNF is a leading provider of title insurance and transaction services to the real estate and mortgage industries, as well as insurance solutions for retail annuity and life customers through its majority-owned subsidiary, F&G Annuities & Life, Inc. (NYSE: FG).
Fidelity National Financial (NYSE: FNF) has announced a quarterly cash dividend of $0.48 per share of common stock. The dividend will be payable on September 30, 2024, to stockholders of record as of September 16, 2024. FNF is a leading provider of title insurance and transaction services to the real estate and mortgage industries. It's also a major provider of insurance solutions for retail annuity and life customers through its majority-owned subsidiary, F&G Annuities & Life, Inc. (NYSE: FG). FNF is the largest title insurance company in the United States, operating through multiple underwriters that collectively issue more title insurance policies than any other company in the country.
F&G Annuities & Life (NYSE: FG) has announced quarterly dividend payments for both its common and preferred stockholders. The Board of Directors declared a $0.21 per share dividend on common stock, payable on September 30, 2024, to shareholders of record as of September 16, 2024. Additionally, a $0.859375 per share dividend was declared on the 6.875% Series A Mandatory Convertible Preferred Stock, to be paid on October 15, 2024, to holders of record as of October 1, 2024. F&G, headquartered in Des Moines, Iowa, is a leading provider of insurance solutions for retail annuity and life customers as well as institutional clients.
Fidelity National Financial (NYSE: FNF), a leading provider of title insurance and transaction services, has announced its second quarter 2024 earnings release and conference call schedule. The earnings will be released after market close on Monday, August 5, 2024, followed by a webcast and conference call at 11:00 a.m. Eastern Time on Tuesday, August 6, 2024. Investors can access the webcast through FNF's Investor Relations website or join the conference call by dialing 1-877-407-0784 (USA) or 1-201-689-8560 (International). A replay will be available via webcast and telephone until August 13, 2024. FNF is the nation's largest title insurance company and also provides insurance solutions through its majority-owned subsidiary F&G Annuities & Life, Inc. (NYSE: FG).
F&G Annuities & Life (NYSE: FG), a leading provider of insurance solutions, has announced its second quarter 2024 earnings release schedule. The company will release its earnings after market close on Monday, August 5, 2024, followed by a webcast and conference call at 9:00 a.m. Eastern Time on Tuesday, August 6, 2024. Investors can access the webcast through F&G's Investor Relations website or join the conference call by dialing 1-877-300-8521 (USA) or 1-412-317-6026 (International). A replay will be available via webcast and telephone until August 13, 2024. F&G, headquartered in Des Moines, Iowa, serves retail annuity and life customers as well as institutional clients.
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