FG on NYSE
F&G Annuities & Life, Inc.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs94¢$5.4B
- Income tax1¢$52.0M
- Profit5¢$265.0M
Out of $5.7B in revenue.3
Where each dollar of operating cash went, fiscal 2025
- Share buybacks0¢$10.0M
- Kept or used elsewhere100¢$4.7B
Out of $4.7B of cash from operations.3
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Life insurance premiums and other fees | $2.8B | $2.9B | $2.4B |
| Interest and investment income | $2.8B | $2.7B | $2.2B |
| Owned distribution revenues | $89.0M | $81.0M | $0 |
| Recognized gains and (losses), net | $10.0M | $84.0M | -$124.0M |
| Total revenues | $5.7B | $5.7B | $4.5B |
| Benefits and other changes in policy reserves | $4.0B | $3.8B | $3.6B |
| Market risk benefit losses (gains) | $167.0M | -$25.0M | $95.0M |
| Depreciation and amortization | $665.0M | $569.0M | $412.0M |
| Personnel costs | $293.0M | $296.0M | $232.0M |
| Other operating expenses | $156.0M | $203.0M | $146.0M |
| Interest expense | $164.0M | $132.0M | $97.0M |
| Total benefits and expenses | $5.4B | $5.0B | $4.5B |
| Earnings (loss) before income taxes | $323.0M | $778.0M | -$35.0M |
| Income tax expense | $52.0M | $136.0M | $23.0M |
| Net earnings (loss) | $271.0M | $642.0M | -$58.0M |
| Less: Non-controlling interests | $6.0M | $3.0M | $0 |
| Net earnings (loss) | $265.0M | $639.0M | -$58.0M |
| Less: Preferred stock dividend | $17.0M | $17.0M | $0 |
| Net earnings (loss) attributable to F&G common shareholders | $248.0M | $622.0M | -$58.0M |
| Net earnings (loss) per share attributable to F&G common shareholders, basic (in usd per share) | $1.89 | $4.98 | -$0.47 |
| Net earnings (loss) per share attributable to F&G common shareholders, diluted (in usd per share) | $1.88 | $4.88 | -$0.47 |
| Weighted average shares outstanding F&G common stock, basic basis (in shares) | 131.0M shares | 125.0M shares | 124.0M shares |
| Weighted average shares outstanding F&G common stock, diluted basis (in shares) | 132.0M shares | 131.0M shares | 124.0M shares |
| Remeasurement gains | $28.0M | $20.0M | $7.0M |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Fixed maturity securities available for sale, at fair value, at December 31, 2025 and 2024, at an amortized cost of $55,292 and $49,729, respectively, net of allowance for credit losses of $104 and $62, respectively | $52.7B | $46.3B | |
| Derivative investments | $1.1B | $792.0M | |
| Mortgage loans, net of allowance for credit losses of $86 and $70 at December 31, 2025 and 2024, respectively | $7.9B | $5.9B | |
| Investments in unconsolidated affiliates (2025 includes $262 related to investments held by consolidated variable interest entities (VIEs) and 2025 and 2024 include certain investments at fair value of $270 and $272, respectively) | $4.9B | $3.6B | |
| Other long-term investments (2025 includes $248 related to investments held by consolidated VIEs) | $1.3B | $580.0M | |
| Policy loans | $147.0M | $104.0M | |
| Short-term investments (2025 includes $116 related to investments held by consolidated VIEs) | $1.0B | $2.4B | |
| Total investments | $69.4B | $60.1B | |
| Cash and cash equivalents (2025 includes $2 related to investments held by consolidated VIEs) | $1.5B | $2.3B | |
| Reinsurance recoverable, net of allowance for credit losses of $18 and $20 at December 31, 2025 and 2024, respectively | $17.5B | $13.4B | |
| Goodwill | $2.2B | $2.2B | |
| Prepaid expenses and other assets (certain assets held at fair value of $24 and $11 at December 31, 2025 and 2024, respectively) | $1.1B | $950.0M | |
| Other intangible assets, net | $6.3B | $5.6B | |
| Market risk benefits asset | $285.0M | $189.0M | |
| Income taxes receivable | $83.0M | $0 | |
| Deferred tax asset, net | $82.0M | $299.0M | |
| Total assets | $98.4B | $84.9B | |
| Contractholder funds | $62.7B | $56.4B | |
| Future policy benefits | $10.8B | $8.7B | |
| Market risk benefits liability | $903.0M | $549.0M | |
| Accounts payable and accrued liabilities | $2.7B | $2.2B | |
| Income taxes payable | $0 | $5.0M | |
| Notes payable | $2.2B | $2.2B | |
| Funds withheld for reinsurance liabilities | $14.2B | $10.8B | |
| Total liabilities | $93.5B | $80.9B | |
| Preferred stock $0.001 par value; authorized 25,000,000 shares; outstanding and issued 5,000,000 as of December 31, 2025 and 2024 | $0 | $0 | |
| F&G common stock, $0.001 par value; authorized 500,000,000 shares as of December 31, 2025 and 2024; outstanding of 135,610,292 and 126,792,844, respectively, and issued of 137,056,106 and 127,952,143, respectively | $0 | $0 | |
| Additional paid-in-capital | $3.8B | $3.5B | |
| Retained earnings | $2.6B | $2.4B | |
| "Accumulated other comprehensive income (loss) (""AOCI"")" | -$1.5B | -$1.9B | |
| Treasury stock, at cost (1,445,814 shares and 1,159,299 shares as of December 31, 2025 and 2024, respectively) | -$40.0M | -$30.0M | |
| Total F&G Annuities & Life, Inc. shareholders' equity | $4.8B | $4.0B | |
| Non-controlling interests | $113.0M | $125.0M | |
| Total equity | $4.9B | $4.1B | $3.1B |
| Total liabilities and equity | $98.4B | $84.9B | |
| Fixed maturity securities, available-for-sale securities, amortized cost | $55.3B | $49.7B | |
| Fixed maturity securities, available-for-sale securities, allowance for credit losses | $104.0M | $62.0M | $35.0M |
| Allowance for credit losses | $86.0M | $70.0M | $66.0M |
| Investments in unconsolidated affiliates at fair value | $270.0M | $272.0M | |
| Other long-term investments | $248.0M | $0 | |
| Allowance for credit losses, reinsurance recoverable | $18.0M | $20.0M | $21.0M |
| Assets held at fair value | $24.0M | $11.0M | |
| Preferred stock, par or stated value per share (in dollars per share) | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 25.0M shares | ||
| Common stock, par or stated value per share (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 500.0M shares | 500.0M shares | |
| Common stock, shares outstanding (in shares) | 135.6M shares | 126.8M shares | 126.3M shares |
| Common stock, shares issued (in shares) | 137.1M shares | 128.0M shares | |
| Treasury stock (in shares) | 1.4M shares | 1.2M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net earnings (loss) | $271.0M | $642.0M | -$58.0M |
| Depreciation and amortization | $665.0M | $569.0M | $412.0M |
| (Gain) loss on sales of investments and other assets and asset impairments, net | $128.0M | -$210.0M | $461.0M |
| Interest credited/index credits to contractholder account balances | $202.0M | $1.3B | $1.4B |
| Change in market risk benefits, net | $167.0M | -$25.0M | $95.0M |
| Deferred policy acquisition costs and deferred sales inducements | -$1.3B | -$1.4B | -$1.1B |
| Charges assessed to contractholders for mortality and administration | -$330.0M | -$291.0M | -$255.0M |
| Distributions from unconsolidated affiliates, return on investment | $176.0M | $108.0M | $104.0M |
| Stock-based compensation cost | $31.0M | $29.0M | $23.0M |
| Change in NAV of limited partnerships, net | -$349.0M | -$350.0M | -$220.0M |
| Change in valuation of derivatives, equity and preferred securities and other assets, net | -$144.0M | $60.0M | -$347.0M |
| Change in reinsurance recoverable | -$5.0M | -$19.0M | $94.0M |
| Change in derivative collateral liabilities | $249.0M | $91.0M | $410.0M |
| Change in future policy benefits | $1.7B | $1.9B | $1.3B |
| Change in funds withheld from reinsurers | $3.3B | $3.8B | $3.4B |
| Net change in income taxes | $22.0M | $103.0M | -$4.0M |
| Net change in other assets and other liabilities | -$103.0M | -$264.0M | $81.0M |
| Net cash provided by operating activities | $4.7B | $6.0B | $5.8B |
| Proceeds from sales, calls and maturities of investments | $14.3B | $11.3B | $5.3B |
| Additions to property and equipment and capitalized software | -$15.0M | -$24.0M | -$27.0M |
| Purchases of investment securities | -$22.5B | -$16.9B | -$13.3B |
| Net proceeds from sales, maturities and purchases of short-term investment securities | $1.5B | -$1.1B | -$28.0M |
| Other acquisitions/disposals, net of cash acquired | $0 | -$482.0M | $0 |
| Additional investments in unconsolidated affiliates | -$2.4B | -$1.1B | -$1.1B |
| Net increase in policy loans | -$43.0M | -$33.0M | -$19.0M |
| Distributions from unconsolidated affiliates, return of investment | $694.0M | $478.0M | $340.0M |
| Net change in notes receivable | -$10.0M | -$13.0M | $0 |
| Net cash used in investing activities | -$8.4B | -$8.0B | -$8.9B |
| Borrowings | $375.0M | $1.1B | $845.0M |
| Debt issuance costs | -$11.0M | -$20.0M | -$16.0M |
| Payment of contingent consideration for acquisitions | -$10.0M | $0 | $0 |
| Net revolving credit facility (repayments) borrowings | $0 | -$365.0M | -$185.0M |
| Repayments of outstanding debt | -$300.0M | -$250.0M | $0 |
| Dividends paid | -$137.0M | -$121.0M | -$101.0M |
| Dividends and distributions paid to non-controlling interest shareholders | -$18.0M | -$14.0M | $0 |
| Purchases of treasury stock | -$10.0M | -$12.0M | -$18.0M |
| Issuance of preferred stock | $0 | $250.0M | $0 |
| Issuance of common stock | $269.0M | $0 | $0 |
| Contractholder account deposits | $11.6B | $10.1B | $7.8B |
| Contractholder account withdrawals | -$8.8B | -$8.0B | -$4.6B |
| Net cash provided by (used in) financing activities | $3.0B | $2.7B | $3.7B |
| Net (decrease) increase in cash and cash equivalents | -$778.0M | $701.0M | $603.0M |
Recent filings
- Oct 5, 20268-K
- Oct 5, 20264 PRIMARY DOCUMENT
- Oct 5, 20264 PRIMARY DOCUMENT
- Oct 5, 20264 PRIMARY DOCUMENT
- Oct 2, 20264 PRIMARY DOCUMENT
- Sep 15, 20264 PRIMARY DOCUMENT
- Aug 6, 202610-Q
- Aug 6, 20263 PRIMARY DOCUMENT
- Aug 5, 20268-K
- Jul 8, 20268-K
- Jul 6, 20264 PRIMARY DOCUMENT
- Jul 6, 20264 PRIMARY DOCUMENT
- Jul 6, 20264 PRIMARY DOCUMENT
- Jul 6, 20263 PRIMARY DOCUMENT
- Jun 25, 20268-K
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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