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Jun 30, 2025
F&G Annuities & Life Q2 2025 Earnings Report
F&G Annuities & Life reported its financial results for the second quarter ended June 30, 2025, highlighting growth in assets under management and strong sales in its retail channel.
Key Takeaways
F&G Annuities & Life reported net earnings of $35 million, or $0.26 per diluted share, for the second quarter of 2025. Adjusted net earnings were $103 million, or $0.77 per share. The company saw significant growth in AUM before flow reinsurance, reaching $69.2 billion, a 13% increase from the prior year, driven by strong sales, particularly in the retail channel.
Net earnings attributable to common shareholders for Q2 2025 were $35 million, or $0.26 per diluted share, a decrease from $198 million in Q2 2024.
Adjusted net earnings for Q2 2025 were $103 million, or $0.77 per share, compared to $139 million in Q2 2024.
Assets Under Management (AUM) before flow reinsurance grew by 13% year-over-year to $69.2 billion.
Gross sales reached $4.1 billion, with record retail channel sales exceeding $3.6 billion, reflecting strong performance in indexed annuities, indexed universal life, and multiyear guaranteed annuities.
Forward Guidance
F&G Annuities & Life remains confident in achieving its medium-term Investor Day targets, aiming for a more fee-based, higher margin, and less capital-intensive business model. The company expects further improvement in its operating expense to AUM ratio in the second half of the year.
Positive Outlook
- Expects further improvement in the ratio of operating expense to AUM before flow reinsurance in the second half of the year.
- Confident in delivering on medium-term Investor Day targets.
- Moving towards a more fee-based business model.
- Aiming for a higher margin business model.
- Transitioning to a less capital-intensive business model.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
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