F&G Annuities reports Q2 adjusted EPS $1.10 vs. 63c last year

Reports Q2 revenue $3.45B vs. $2.21B last year. Chris Blunt, Chief Executive Officer, commented, “We delivered record assets under management before flow reinsurance in the second quarter of $61.4 billion, a 21% increase over the second quarter of 2023. This strong growth was driven by record gross sales of $4.4 billion, a 47% increase over the second quarter of 2023, with record retail sales and robust institutional market sales. We continue to benefit from strong demand for our products given demographic tailwinds, prior investments in building out our multi-channel sales platform and continued strong investment performance. Excluding significant items, we generated $171 million of adjusted net earnings and expanded our adjusted return on assets to 130 basis points as benefits from investment margin, accretive flow reinsurance and owned distribution margin, as well as disciplined expense management, continue to emerge. Overall, it was an outstanding quarter and we are well on pace to achieve our Investor Day targets.”