F&G Annuities & Life Inc ( (FG) ) has released its Q4 earnings. Here is a breakdown of the information F&G Annuities & Life Inc presented to its investors.
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F&G Annuities & Life Inc., a prominent provider of insurance solutions for retail annuity and life customers as well as institutional clients, recently released its financial results for the fourth quarter and full year ending December 31, 2024. The company operates primarily in the insurance sector, offering unique insurance products that cater to both individual and institutional markets.
The latest earnings report from F&G Annuities & Life Inc. highlights a significant turnaround in net earnings, with the company achieving $323 million in net earnings for the fourth quarter of 2024, equivalent to $2.50 per diluted share, compared to a net loss in the previous year. For the full year 2024, net earnings reached $622 million, or $4.88 per share, a substantial improvement from a net loss in 2023.
Key performance metrics reveal a robust financial performance for F&G Annuities & Life Inc. in 2024. The company experienced record full-year sales growth driven by strong retail and pension risk transfer sales, with gross sales totaling $15.3 billion—a 16% increase over the previous year. Assets under management reached a record $65.3 billion, reflecting a 17% growth. Furthermore, the company demonstrated an expanding adjusted return on assets and equity, highlighting increased profitability.
F&G’s strategic initiatives, including capital light strategies and expanding its owned distribution business, have contributed positively to its financial outcomes. The company returned $125 million of capital to shareholders in the form of dividends in 2024, showcasing its solid balance sheet and strong capital position.
Looking ahead, F&G Annuities & Life Inc. enters 2025 with strong momentum, underpinned by its strategic focus on capital-efficient growth and expanding market opportunities. The management expresses optimism about the future, driven by continued demand for its products and favorable market conditions, setting a positive outlook for the upcoming year.
