F&G Annuities & Life Inc (FG), headquartered in Des Moines, Iowa, has released its first-quarter 2025 earnings report. The insurance solutions provider, specializing in retail annuity and life insurance products for individual and institutional clients, presented a mixed financial performance to its investors.
Q1 2025 Financial Highlights
The company reported a net loss of $25 million for the first quarter of 2025, a significant change from the $111 million net profit recorded in the same period the previous year. Despite this setback, F&G achieved record assets under management (AUM) of $67.4 billion, representing a 16% increase from the prior year. This growth was primarily driven by robust indexed annuity sales.
Other key financial highlights include:
- Adjusted net earnings of $91 million, or $0.72 per share, down from $108 million, or $0.86 per share, in Q1 2024
- Adjusted return on equity (excluding AOCI) rose to 9.7% from 7.4% a year earlier
- Completion of a public offering of 8 million shares, raising nearly $269 million to support organic growth
- Strong investment portfolio with 96% of fixed maturities rated as investment grade
Business Performance and Outlook
F&G’s management remains optimistic about achieving its medium-term targets. The company continues to focus on organic growth and capital returns to shareholders, having distributed $30 million in dividends during the quarter. The successful capital raise and strong AUM growth have provided a solid foundation for the company to navigate economic uncertainties and capitalize on growth opportunities.
Looking ahead, F&G’s strategic capital allocation and robust financial position are expected to support the company’s growth initiatives and enhance shareholder value. The company’s emphasis on organic growth, combined with its strong investment portfolio, positions it well for future performance in the insurance industry.
