SALT LAKE CITY, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Security National Financial Corporation (SNFC) (NASDAQ symbol "SNFCA") announced financial results for the quarter ended June 30, 2025. For the three months ended June 30, 2025, SNFC’s after tax earnings decreased 10% from $7,271,000 in 2024 to $6,506,000 in 2025. For the six months ended June 30, 2025, after tax earnings decreased 26% to $10,845,000 from $14,746,000 in 2024. Scott M. Quist, President of the Company, said: “Annualizing our first half results ...

Core Insights - Brighthouse Financial, Inc. (BHF) reported second-quarter 2025 adjusted earnings of $3.43 per share, missing the Zacks Consensus Estimate by 27% and reflecting a year-over-year decline of 38.4% [1][9] - The lower-than-expected results were attributed to reduced premiums and lower net investment income, although total expenses decreased significantly [1][9] Financial Performance - Total operating revenues for the quarter were $2.2 billion, down 2.9% year over year, primarily due to lower universal life and investment-type product policy fees and net investment income, missing the consensus estimate by 2.1% [2] - Premiums amounted to $166 million, an 8.3% decrease year over year, falling short of the Zacks consensus estimate of $200 million [2] - Adjusted net investment income was $1.3 billion, down 1.8% year over year, mainly due to lower income from alternative investments, with an investment income yield of 4.28% [3] - Total expenses were $778 million, a nearly 45% decrease from $1.4 billion year over year, which partially offset the revenue decline [3] Segment Performance - Annuities generated an adjusted operating income of $332 million, remaining flat year over year, with annuity sales increasing 8.4% to $2.6 billion, driven by stronger fixed annuity sales [4] - Life insurance segment reported an adjusted operating loss of $26 million compared to earnings of $42 million in the prior year, with life insurance sales increasing 17.8% quarter over quarter to $33 million [5] - The Run-off segment recorded an adjusted operating loss of $83 million, wider than the previous year's loss of $30 million, while Corporate & Other had an adjusted operating loss of $25 million compared to earnings of $2 million in the prior year [6] Financial Position - Cash and cash equivalents increased by 24.7% year over year to $5.5 billion, while shareholders' equity rose 37% to $5.7 billion [7] - Book value per share, excluding accumulated other comprehensive income, was $144.09 as of June 30, 2025, reflecting a 12.3% year-over-year increase [7] - Statutory combined total adjusted capital was $5.6 billion as of June 30, 2025, up 3.7% year over year [7] - The estimated combined risk-based capital ratio was in the range of 405-425% as of June 30, 2025 [8] Share Buyback Program - Brighthouse Financial repurchased shares worth $43 million in the second quarter of 2025, bringing the year-to-date total to $102 million [10]

Core Viewpoint - The Zacks Multiline Insurance industry is experiencing growth driven by product diversification, digitalization, and increased demand for embedded insurance, with projected global premiums from embedded insurance expected to exceed $722 billion by 2030 [1]. Industry Overview - The Zacks Multiline Insurance industry includes companies that provide bundled insurance coverage for various needs, improving customer retention and offering lower premium payments compared to individual policies [3]. - The industry is characterized by diversified product and service portfolios, which help lower concentration risk and enhance sales and premiums, particularly in life insurance [4]. Trends Shaping the Industry - The transition to green energy and related insurance products, along with the rise of cyber insurance due to increased AI adoption, presents growth opportunities [4]. - The industry is expected to see continued consolidation as companies seek to diversify operations and gain market share, with a rise in technology-driven deals anticipated by 2025 [5]. - Digitalization is significantly impacting the industry, with the adoption of technologies like AI and blockchain to enhance operations and reduce costs [6]. Financial Performance - The Multiline Insurance industry has underperformed compared to the Finance sector and the S&P 500 year to date, with a collective gain of 1.7% against the sector's 8.4% and the S&P 500's 6.9% [9]. - The industry is currently trading at a price-to-book (P/B) ratio of 2.37X, significantly lower than the S&P 500's 7.37X and the sector's 4.23X [12]. Company Highlights - **American International Group (AIG)**: Expected earnings growth of 24.2% and 25.9% for 2025 and 2026, respectively, with a long-term growth rate of 14.8% [19]. - **Prudential Financial (PRU)**: Anticipates 5% to 8% core adjusted operating EPS growth through 2027, with earnings growth estimates of 8% and 8.5% for 2025 and 2026 [23]. - **Principal Financial Group (PFG)**: Projected earnings growth of 17.6% and 11.5% for 2025 and 2026, respectively, with a long-term growth rate of 12.7% [27]. - **Everest Group (EG)**: Expected to see earnings growth of 52% and 35.7% for 2025 and 2026, with a long-term growth rate of 29.7% [31]. - **Assurant (AIZ)**: Forecasted earnings decrease of 17.6% for 2025, but growth in connected living and global automotive sectors is expected to support overall performance [35].

Second Quarter 2025 Investor Presentation Information as of June 30, 2025, unless otherwise noted Safe Harbor Statement and Non-GAAP Measures Certain statements included in this presentation, including those regarding our earnings outlook, expected catastrophe losses, our investment strategies, our plans to implement additional rate actions, our plans relating to share repurchases and dividends, our efforts to enhance customer experience and expand our products and solutions to more educators, our strategie ...

F&G Annuities & Life (FG) Q2 2025 Earnings Call August 07, 2025 09:00 AM ET Company ParticipantsLisa Foxworthy-Parker - SVP, Investor & External RelationsChris Blunt - CEOConor Murphy - President & CFOConference Call ParticipantsJohn Barnidge - MD & Senior Research AnalystMark Hughes - AnalystAnling Chen - Equity Research AnalystOperatorGood morning, and welcome to F and G's Second Quarter twenty twenty five Earnings Call. During today's presentation, all callers will be placed in listen only mode. Followin ...

Key Takeaways LNC posted Q2 EPS of $2.36, topping estimates by 23.6% and rising 28.3% year over year.Quarterly revenues rose 4.4% to $4.7B, driven by premiums, deposits and Group Protection strength.Total expenses fell 21.2%, while net investment income grew 10.1% to $1.5B, beating estimates.Lincoln National Corporation (LNC) reported second-quarter adjusted earnings per share of $2.36, which surpassed the Zacks Consensus Estimate by 23.6%. The bottom line climbed 28.3% year over year.Adjusted operating rev ...

Key Takeaways CNO posted Q2 adjusted EPS of 87 cents, topping estimates but down 17% year over year.Annuity collected premiums surged 19% year over year to $520.5 million in Q2.Total expenses rose 12.9% on higher insurance policy benefits and operating costs.Shares of CNO Financial Group, Inc. (CNO) have lost 2% since it reported second-quarter 2025 results on July 28. The quarterly results were hurt by a rise in total expenses as a result of higher insurance policy benefits and operating costs. Net investm ...

Financial Data and Key Metrics Changes - Adjusted operating income increased by 32% year over year, reaching $427 million or $2.36 per diluted share [4][27] - Net income available to common stockholders was $688 million or $3.80 per diluted share, reflecting positive market risk benefits [27] - The estimated RBC ratio remained above 420%, consistent with the company's strategy to maintain a capital buffer above the 400% target [43] Business Line Data and Key Metrics Changes - Group Protection business achieved record earnings of $173 million, up 33% year over year, with a margin increase to 12.5% [28][18] - Annuities generated operating income of $287 million, slightly down from $297 million in the prior year, primarily due to traditional variable annuity outflows [35] - Life Insurance reported operating earnings of $32 million, a significant improvement from an operating loss of $35 million in the prior year [40] Market Data and Key Metrics Changes - All four business segments delivered double-digit sales growth in the first half of the year, with notable contributions from previously non-key products [8] - Retirement Plan Services saw first-year sales increase by nearly 50% year over year, with total deposits up by 10% [22] Company Strategy and Development Direction - The company is focused on increasing risk-adjusted returns, reducing volatility, and growing its franchise through a disciplined growth strategy [5][24] - Strategic investments are being made in higher-margin products and segments, enhancing digital capabilities, and optimizing the operating model [7][8] - The company aims to deepen its strategic moat and evolve into a more agile, scalable organization [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory, emphasizing the importance of disciplined execution and strategic clarity [25][48] - The economic backdrop remains volatile, but the company is committed to delivering long-term value and sustainable growth [8][24] Other Important Information - The company has launched a Bermuda-based reinsurance subsidiary to enhance its investment strategy [7] - The alternative investment portfolio achieved a 10% annualized return, contributing positively to overall earnings [27][47] Q&A Session Summary Question: On group and the shift into smaller local markets and supplemental health products - Management highlighted the successful execution of a targeted segment strategy, particularly in local markets and supplemental health, which are expected to drive margin expansion [50][51] Question: On the restructuring of the Life Captives - Management indicated that specifics on the impact of restructuring on earnings and free cash flow would be provided once more concrete details are available, with potential impacts expected in the following year [62][64] Question: On RILA product sales and market competition - Management reported a 32% increase in RILA sales year over year, attributing growth to the introduction of a second-generation product and expanding distribution segments [67][69] Question: On free cash flow conversion guidance - Management expressed confidence in the long-term free cash flow conversion rate being above previous targets, especially with the deployment of Bain Capital [74][76] Question: On distribution strategies in the group business - Management emphasized the importance of strategic broker relationships and investments in digital capabilities to enhance competitive differentiation and drive growth [80][82] Question: On external reinsurance solutions - Management is exploring options for external reinsurance focused on the legacy life block, with the potential for less reliance on structured deals due to deployable excess capital [88]

Financial Performance - Adjusted operating income increased by 32% year-over-year (YoY), marking the fourth consecutive quarter of YoY growth[7, 13] - Adjusted operating income was $427 million, or $2.36 per share[12] - Group Protection achieved record earnings, up 33% YoY, with a record margin of 12.5%, a 250 basis points increase[13] - Life Insurance reported earnings of $32 million, supported by in-line alternative investment income and favorable mortality[7, 13] Sales and Growth - Annuities sales increased by 5% YoY, driven by a diversified product mix[7, 13] - Group Protection sales increased by 16% YoY, fueled by local market and supplemental health sales[13] - Life Insurance sales increased by 15% YoY, driven by momentum in risk-sharing products[13] - Retirement Plan Services experienced strong deposit growth, up 10% YoY[13] Capital and Leverage - Estimated Risk-Based Capital (RBC) ratio is greater than 420%, exceeding the 400% target[7, 13] - Leverage ratio improved by 330 basis points YoY to 25.6%, primarily due to equity growth[7, 13] - The company issued $1 billion in P-Caps, increasing access to on-demand capital and extending duration to 2055[13]

Financial Data and Key Metrics Changes - Adjusted non-GAAP earnings for Q2 2025 were $469 million, or $2.7 per share, representing an 18% increase in EPS compared to 2024 [5][6] - Reported non-GAAP operating earnings were $489 million, up 27% year over year, with EPS at $2.16, a 33% increase [15][16] - Total company managed AUM reached $753 billion, a 5% increase sequentially and an 8% increase year over year [7][11] - Net cash flow was negative $2.6 billion for the quarter, but showed improvement sequentially [7][11] Business Line Data and Key Metrics Changes - In Retirement, overall RIS sales were $6 billion, a 7% year-over-year increase, driven by Workplace Savings and Retirement Solutions [9][10] - Principal Asset Management AUM increased to $723 billion, a 5% sequential increase, with sales of $33 billion, up 19% year over year [11][12] - Specialty Benefits saw a 10% growth in earnings, with a margin expansion of 100 basis points [12][21] - Life Insurance premium fees increased by 5% compared to 2024, driven by strong business market growth [22] Market Data and Key Metrics Changes - The market drop in April affected daily averages, impacting second quarter fee revenue, but a strong rebound in May and June provided positive momentum [6][7] - International Pension net revenue was impacted by foreign currency, but increased by 2% on a constant currency basis [20] Company Strategy and Development Direction - The company remains focused on disciplined expense management while investing for growth, aiming to align revenue and expenses effectively [29][31] - Continued emphasis on capital return targets, with $320 million returned to shareholders in Q2, including $150 million in share repurchases [6][24] - The company is committed to maintaining a strong capital position and expects to deliver on full-year capital return targets of $1.4 billion to $1.7 billion [24][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the second half of the year, expecting full-year results to align with 2025 outlook and financial targets [7][8] - The company anticipates improved results in the latter half of 2025, particularly in investment management and performance fees [48][49] - Management acknowledged the competitive environment in pension risk transfer (PRT) but remains optimistic about achieving targeted returns [40][42] Other Important Information - The company was recognized for its leadership in disability inclusion and AI application in financial services [13] - A $0.78 common stock dividend was announced for Q3, reflecting an 8% increase over the previous year [26] Q&A Session Summary Question: Overall expense levels and future focus - Management confirmed a continued focus on aligning expenses with revenue while maintaining investments in the business [29][31] Question: Spread balances within RIS - Management noted that investment-only issuance and PRT sales were moderate, emphasizing a disciplined approach to prioritizing returns over volume [34][38] Question: Competitive environment in PRT - Management acknowledged increased competition but remains optimistic about converting existing DB clients into PRT opportunities [40][42] Question: Variable investment income experience - Management indicated improved performance in variable investment income, with expectations for better results in the latter half of 2025 [47][49] Question: Dental business outlook - Management highlighted competitive pricing and renewal rates, with expectations for improved sales in the second half of the year [84][88]