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Dec 31, 2024
F&G Annuities & Life Q4 2024 Earnings Report
F&G Annuities & Life reported strong Q4 2024 results with record assets under management and a significant turnaround in net earnings.
Key Takeaways
F&G Annuities & Life, Inc. (F&G) reported net earnings of $323 million ($2.50 per share) in Q4 2024, recovering from a net loss of $299 million in Q4 2023. Adjusted net earnings rose to $143 million ($1.12 per share), supported by strong investment income. Total revenue for the quarter was $1.56 billion, with record assets under management reaching $53.82 billion. The company achieved a return on assets of 1.06%, reflecting a robust investment performance.
Net earnings rose to $323 million from a loss of $299 million in Q4 2023.
Revenue for the quarter totaled $1.56 billion.
Adjusted net earnings increased to $143 million ($1.12 per share), up from $75 million in Q4 2023.
Record assets under management (AUM) reached $53.82 billion, a 10% increase year-over-year.
F&G Annuities & Life
F&G Annuities & Life
Forward Guidance
F&G expects continued growth in AUM, improved investment returns, and strategic capital allocation to drive future earnings.
Positive Outlook
- Strong investment performance supporting higher return on assets.
- Growth in retail and pension risk transfer sales expected to continue.
- Efficient expense management leading to improved profit margins.
- Continued expansion in annuity and life insurance markets.
- Strong balance sheet enabling capital returns to shareholders.
Challenges Ahead
- Decline in gross sales compared to Q4 2023 due to strategic capital allocation.
- Market volatility impacting investment income fluctuations.
- Higher interest expense from capital market activities.
- Potential regulatory changes affecting insurance and annuity businesses.
- Competition in the annuity and pension risk transfer markets.