Financial Performance - F&G achieved record gross sales of $15.3 billion in 2024, representing a 16% year-over-year increase[4] - The company reported net earnings of $622 million for 2024, with adjusted net earnings of $546 million, translating to $4.30 per diluted share[5] - Common Adjusted Net Earnings (ANE) for FY2024 are projected at $546 million, reflecting a significant recovery from a loss of $58 million in FY2023[61] - Adjusted net earnings attributable to common shareholders for the year ended December 31, 2024, were $546 million, including $514 million from alternative investments[137] - The company reported adjusted net earnings of $143 million for the three months ended December 31, 2024, which included $138 million from alternative investments[138] - Adjusted net earnings excluding significant items for the year ended December 31, 2024, were $657 million, reflecting a strong performance despite market volatility[137] Assets Under Management (AUM) - Assets under management (AUM) grew to $65.3 billion, up 17% year-over-year, with AUM before flow reinsurance also increasing to $65.3 billion[4] - Ending Assets Under Management (AUM) before flow reinsurance is expected to be $65.3 billion, up from $55.9 billion in FY2023[58] - The company achieved a record AUM of $53.8 billion, including retained ending AUM[60] - Assets Under Management (AUM) is reported net of reinsurance assets and includes total invested assets, investments in unconsolidated affiliates, related party loans, accrued investment income, and cash equivalents[144] Return Metrics - Adjusted return on assets (ROA) improved to 1.27% for 2024, exceeding the baseline of 1.10%[4] - The company aims to grow AUM by 50% and expand adjusted ROA to between 1.33% and 1.55% in the medium term[21] - The company expects steady growth in adjusted ROA, driven by asset growth and disciplined expense management[63] - F&G is targeting an increase in adjusted return on equity (ROE) to 13% to 14% and expanding its price-to-earnings (P/E) multiple to 7-8x[22] Capitalization and Debt - F&G's market capitalization increased to $5.3 billion at the end of 2024, up from $2.4 billion at the time of its NYSE listing[4] - The company reported a total capitalization of $8.269 billion as of year-end 2024, with a debt-to-capital ratio of 27.5%[72] - The Debt-to-Capital Ratio, excluding AOCI, is calculated by dividing total debt by total capitalization, which helps assess the company's capital position[146] - Total Capitalization, excluding AOCI, is based on total equity and total debt, offering insights into the company's capital structure[148] Investment Portfolio - The investment portfolio is conservatively positioned, with 97% of fixed income rated investment grade[46] - The CLO portfolio is well diversified, with 33% rated AAA and 40% par subordination, indicating strong structural protection[100][101] - The real estate debt portfolio has a market value of $11.2 billion, with a weighted average life of 5.7 years[111] - The CMBS portfolio has a market value of $4.0 billion, with an average NRSRO rating of A and a credit quality of 91%[118] - The commercial mortgage loan (CML) portfolio consists of 73 holdings, with an average loan size of $2 billion and a low leverage profile[125] - The investment strategy includes a focus on high-quality, directly originated specialty finance assets diversified by collateral type[97] Shareholder Returns - F&G returned $125 million of capital to shareholders in FY2024 through common and preferred dividends[81] - The total outstanding shares were 126,094,481 as of September 30, 2024, and are expected to increase to 126,792,844 by December 31, 2024[134] Economic Outlook - The U.S. retirement and middle markets are projected to grow significantly, with a 30% increase in the population aged 65-100 over the next 25 years[30] - The company continues to see sustainable demand for fixed annuity products, driven by current economic conditions and demographic trends[32] Risk Management - In a moderate recession scenario, the portfolio is expected to incur a loss of $0.1 billion, representing a loss percentage of -0.5% for corporates and municipals[86] - Under severe recession conditions, the total portfolio loss is projected at $1.1 billion, with a loss percentage of -2.3%[86] - The stress test indicates that after severe stress, management actions of $1.3 billion are sufficient to return to positive excess capital[89] Non-GAAP Measures - Management considers these non-GAAP financial measures useful for internal assessments and for investors and analysts to evaluate the company's financial health and performance[144] - Non-GAAP adjustments for the year ended December 31, 2024, included a $214 million market-related liability adjustment[136] - The company reported a change in fair value of reinsurance-related embedded derivatives of $33 million for the year ended December 31, 2024[136]

Core Insights - F&G Annuities & Life, Inc. announced the appointment of Wendy Young as Chief Liability Officer and Conor Murphy as Chief Financial Officer, effective April 1, 2025, as part of an organizational restructuring to support the company's growth strategy [1][2]. Group 1: Leadership Changes - Wendy Young will transition from her role as Chief Financial Officer to Chief Liability Officer, a newly created position focused on liability management, reinsurance activities, and offshore entities [1][2]. - Conor Murphy has been appointed as the new Chief Financial Officer, bringing extensive experience from previous roles at leading insurance companies, including Resolution Life US and Brighthouse Financial [1][2]. Group 2: Company Growth and Strategy - The company has experienced significant growth over the past five years, doubling its assets under management while diversifying its product offerings and distribution channels [2]. - The restructuring aims to ensure effective management of growth and to maximize profitability and return on equity, ultimately delivering long-term shareholder value [2]. Group 3: Company Overview - F&G Annuities and Life, Inc. is a leading provider of insurance solutions, serving both retail annuity and life customers as well as institutional clients, and is headquartered in Des Moines, Iowa [3].

DES MOINES, Iowa, Feb. 20, 2025 /PRNewswire/ -- F&G Annuities & Life, Inc. (NYSE: FG) (F&G or the Company) a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, today reported financial results for the fourth quarter and twelve months (full year) ended December 31, 2024.Net earnings attributable to common shareholders for the fourth quarter were $323 million, or $2.50 per diluted share (per share), compared to a net loss of $299 million, or $2.41 per ...

Falcon Gold Corp. Completes Road Plowing, Mobilizes Drill EquipmentAnnounces Drilling to Commence This Weekend at Great Burnt ProjectFebruary 19, 2025 10:31 AM EST | Source: Falcon Gold Corp.Toronto, Ontario--(Newsfile Corp. - February 19, 2025) - Falcon Gold Corp. (TSXV: FG) (OTC Pink: FGLDF) (FSE: 3FA) ("Falcon" or the "Company") is pleased to announce that it has successfully completed road plowing and access improvements at its Great Burnt Copper-Gold Project in Central Newfoundland. Despi ...

DES MOINES, Iowa, Feb. 6, 2025 /PRNewswire/ -- F&G Annuities & Life, Inc. (NYSE: FG) ("F&G"), a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, will release fourth quarter and full year 2024 earnings after the close of regular market trading on Thursday, February 20, 2025.A webcast and conference call to discuss the results will follow at 9:00 a.m. Eastern Time on Friday, February 21, 2025. Additional information about the quarterly financial resu ...

we discuss ideas like this as they happen in more detail. All active investors are welcome to join on a free trial and ask any question in our chat room full of sophisticated traders and investors.In this short article, we will turn attention to one of the first fixed-income IPOs for the new 2025. This time we will focus on the F&G Annuities & Life, Inc.'s (NYSE: FG ) newlyAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initi ...

DES MOINES, Iowa, Jan. 16, 2025 /PRNewswire/ -- F&G Annuities & Life, Inc. (NYSE: FG) (F&G or the Company) today announced that its subsidiary Fidelity & Guaranty Life Holdings, Inc. (FGLH) will redeem on February 1, 2025, all outstanding $300 million aggregate principal amount of FGLH's 5.50% Senior Notes due May 1, 2025.The notes will be redeemed for a redemption price equal to 100% of principal amount of the notes plus accrued and unpaid interest to, but excluding, the redemption date. On and after the r ...

DES MOINES, Iowa, Jan. 6, 2025 /PRNewswire/ -- F&G Annuities & Life, Inc. (NYSE: FG) ("F&G") today announced that it priced a public offering of $375 million aggregate principal amount of its 7.300% junior subordinated notes due 2065 (the "notes"). The offering is expected to close on January 13, 2025, subject to satisfaction of customary closing conditions. F&G intends to use the net proceeds of this offering for general corporate purposes, including the repurchase, redemption or repayment at maturity of o ...

Here are three stocks with buy rank and strong value characteristics for investors to consider today, December 19th:  F&G Annuities & Life, Inc. (FG) : This company which provides fixed annuities and life insurance products, carries a Zacks Rank #1(Strong Buy), and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 2.6% over the last 60 days.F&G Annuities & Life has a price-to-earnings ratio (P/E) of 9.19 compared with 10.40 for the industry. The company possesses a Value Sc ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, December 19th:West Bancorporation (WTBA) : This community-oriented personal and commercial banking services. They provide full service to small and medium size businesses, individuals, schools, organizations and local government, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.7% over the last 60 days.This Zacks Rank #1 (Strong Buy) company has a dividend yield of 4.5% ...