FG Financial (FGF)

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FG Financial (FGF) - 2021 Q1 - Quarterly Report
2021-05-13 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value per share FGF The Nasdaq Stock Market LLC 8.00% Cumulative Preferred Stock, Series A, $25.00 par value per share FGFPP The Nasdaq Stock Market LLC Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ ] Smaller Reporting Company [X] Emerging Growth Company [ ] FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUA ...
FG Financial (FGF) - 2020 Q4 - Annual Report
2021-03-17 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, par value $0.001 per share FGF The Nasdaq Stock Market LLC 8.00% Cumulative Preferred Stock, Series A, par value $25.00 per share FGFPP The Nasdaq Stock Market LLC FORM 10-K [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or [ ] TRANSITION REPORT PURSUANT TO SE ...
FG Financial (FGF) - 2020 Q3 - Quarterly Report
2020-11-16 22:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value per share PIH The Nasdaq Stock Market LLC 8.00% Cumulative Preferred Stock, Series A, $25.00 par value per sharePIHPP The Nasdaq Stock Market LLC Large accelerated filer [ ] Accelerated filer [ ]Non-accelerated filer [X] Smaller Reporting Company [X] Emerging Growth Company [ ] FORM 10-Q (Mark One) [X]QUARTERLY REPORT PURSUANT ...
FG Financial (FGF) - 2020 Q2 - Quarterly Report
2020-08-14 12:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2020 Or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36366 | --- | --- | |-------------------------------------------------------------------------------------------------------------|--------------------------- ...
FG Financial (FGF) - 2020 Q1 - Quarterly Report
2020-05-14 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value per share PIH The Nasdaq Stock Market LLC 8.00% Cumulative Preferred Stock, Series A, $25.00 par value per share PIHPP The Nasdaq Stock Market LLC Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [X] Smaller Reporting Company [X] Emerging Growth Company [ ] FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUA ...
FG Financial (FGF) - 2019 Q4 - Annual Report
2020-03-30 20:07
Business Sale and Transition - The company completed the sale of its Maison Business to FedNat Holding Company for a total consideration of $51.0 million, consisting of $25.5 million in cash and $25.5 million in FedNat's common stock[121][122]. - Following the sale, the company plans to operate as a diversified holding company focusing on reinsurance and investment management, with a proposed name change to "Fundamental Global Financial Corporation" pending stockholder approval[123]. - The company has classified the operations of Maison, MMI, and ClaimCor as discontinued operations in its financial statements due to the sale completed on December 2, 2019[147]. - The company completed the sale of its three former wholly-owned subsidiaries on December 2, 2019, classifying the Maison Business as discontinued operations[199]. - The pre-tax gain on the sale of the Maison Business was $9,083, with a net gain of $7,066 after tax[200]. - Total cash consideration received from the sale of the Maison Business amounted to $25,500, with additional cash of $18,728 for surplus notes repayment[211]. - The company incurred total pre-tax reductions of $41,917 related to the sale of the Maison Business[200]. Financial Performance - Net income for the year ended December 31, 2019, was $311, compared to $804 in 2018, reflecting a decrease of 61.2%[202]. - The net loss from discontinued operations for 2019 was $2,072, contrasting with a gain of $2,078 in 2018[202]. - Diluted earnings per share from continuing operations for 2019 were $0.16, compared to a loss of $0.40 in 2018[202]. - The company had a net loss attributable to common shareholders of $0.18 per share in 2019, compared to a loss of $0.05 per share in 2018[202]. Tax and Deferred Tax - As of December 31, 2019, the company reported a net deferred tax liability of $106, with no valuation allowance established for deferred tax assets[138]. - The company's net deferred tax asset decreased from $265 million in 2018 to a net deferred liability of $106 million in 2019, primarily due to the sale of the Maison Business[164]. - Current income taxes recoverable increased to $1,265 million as of December 31, 2019, compared to a payable of $932 million in 2018[163]. - The company recorded an income tax expense of $267 for the year ended December 31, 2019, compared to an income tax benefit of $(518) in 2018[197]. Investments and Securities - The company has significant ownership interests, with KFSI and affiliates holding approximately 20% and Fundamental Global Investors, LLC holding about 45% of outstanding shares as of December 31, 2019[120]. - The estimated fair value of the company's 1,773,102 shares of FedNat common stock was $20,320 million as of March 26, 2020[152]. - As of December 31, 2019, the company held $33,492 million in total equity securities, a decrease from $82,560 million in 2018, reflecting a shift in investment strategy[154]. - The carrying amount of FNHC common stock was $29,487 million as of December 31, 2019, representing 88.0% of total equity securities[154]. - The company has recorded critical accounting estimates related to loss reserves and the valuation of securities, which could impact reported financial results[129]. - The company’s fixed income and equity securities are recorded at fair value, and any changes in estimated fair value could affect unrealized gains or losses[131]. - The company recorded a write-down of $215 million for an other-than-temporary impairment on a single equity investment for the year ended December 31, 2018, with no write-downs for 2019[161]. Cash Flow and Liquidity - The company reported a net cash outflow from operating activities of $20,638 for the year ended December 31, 2019, compared to an inflow of $24,794 in 2018[214]. - Cash and cash equivalents at the end of the period were $28,509, down from $30,902 at the end of 2018[214]. - The company had a total potential commitment of $935 million related to limited liability investments, with approximately $776 million drawn down as of December 31, 2019[155]. - The company received profit distributions of $91 million from its limited liability investments for the year ended December 31, 2019[155]. Expenses and Dividends - General and administrative expenses increased by $1,331 to $2,476 for the year ended December 31, 2019, compared to $1,145 in 2018[193]. - The company declared dividends totaling $1,400 for the Series A Preferred Stock for the year ended December 31, 2019, compared to $1,108 in 2018[183]. - The Series A Preferred Stock has a cumulative dividend rate of 8.00% per annum, equating to $2.00 per share per year[183]. COVID-19 Impact - The company is actively monitoring the impact of the COVID-19 pandemic on its operations, although it does not anticipate any material impact at this time[126][128]. Corporate Governance - The company intends to change its ticker symbols to "FGI" for common stock and "FGIPP" for preferred stock following the name change[123]. - The company has entered into an Investment Advisory Agreement with an annual fee of $100 to provide investment advisory services[181]. - The company increased its non-revolving line of credit to $17,000 as of November 29, 2019[210].
FG Financial (FGF) - 2019 Q3 - Quarterly Report
2019-11-14 21:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2019 Or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36366 | --- | --- | |---------------------------------------------------------------------------------------------------------------------------|-------- ...
FG Financial (FGF) - 2019 Q2 - Quarterly Report
2019-08-14 20:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value per share PIH The Nasdaq Stock Market LLC 8.00% Cumulative Preferred Stock, Series A, $25.00 par value per share PIHPP The Nasdaq Stock Market LLC Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [X] Smaller Reporting Company [X] Emerging Growth Company [X] FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUA ...
FG Financial (FGF) - 2019 Q1 - Quarterly Report
2019-05-14 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ ] Smaller Reporting Company [X] Emerging Growth Company [X] Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value per PIH The Nasdaq Stock Market LLC FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2019 ...
FG Financial (FGF) - 2018 Q4 - Annual Report
2019-03-20 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________ to _______________________ Commission file number 001-36366 | --- | --- | |------------------------------------------------------------------------- ...