Quarterly ResultMay 7, 2026, 05:02 PM
F&G Annuities Q1 Net Earnings $244M; Revenue $1.19B; Sells Subsidiary
AI Summary
F&G Annuities & Life reported a significant turnaround in the first quarter of 2026, with net earnings attributable to common shareholders reaching $244 million, compared to a $25 million loss in the prior year. Total revenues increased to $1.19 billion. The company also completed the sale of its Bermuda-based subsidiary, F&G Life Re, for $102 million in cash and a 19.9% interest, generating a $14 million pre-tax gain. Additionally, F&G approved a new $100 million share repurchase program and declared a quarterly common stock dividend of $0.25 per share.
Key Highlights
- Net earnings attributable to F&G common shareholders: $244 million (Q1 2026) vs $(25) million (Q1 2025).
- Total revenues increased to $1,187 million (Q1 2026) from $908 million (Q1 2025).
- Basic EPS was $1.83 (Q1 2026) compared to $(0.20) (Q1 2025).
- Completed the sale of F&G Life Re for $102 million cash and 19.9% interest, generating a $14 million pre-tax gain.
- Approved a new $100 million share repurchase program, effective March 16, 2026.
- Purchased 1.2 million shares for $29 million under the 2023 repurchase program in Q1 2026.
- Declared a quarterly cash dividend of $0.25 per common share.
- Total assets grew to $101.03 billion as of March 31, 2026, from $98.43 billion at December 31, 2025.