F&G Annuities Reports Strong Q1 2026 Financial Results and Growth
F&G Annuities & Life, Inc. has reported its financial results for the first quarter ending March 31, 2026. The company achieved a net income of $244 million, equivalent to $1.78 per diluted share, marking a significant recovery from a net loss of $25 million, or $0.20 per share, during the same period last year. This improvement includes $147 million in favorable mark-to-market effects, despite other unfavorable adjustments totaling $13 million.
Adjusted net earnings for the quarter reached $110 million, or $0.82 per share, compared to $91 million, or $0.72 per share, a year ago. These figures reflect adjustments for income, expense anomalies, and deviations in alternative investment returns. Stakeholders are directed to the "First Quarter 2026 Results" and "Non-GAAP Measures" sections for further information.
Strong Sales Performance
Chris Blunt, CEO of F&G, acknowledged the strong start to 2026, underscored by a record $75 billion in assets under management before reinsurance. This growth was fueled by impressive sales of $3.2 billion, derived from $2 billion in core products like indexed annuities and life insurance, as well as $1.2 billion from funding agreements and guaranteed annuities. Blunt emphasized the robust capital model driving shareholder returns, highlighted by $67 million in dividends and share buybacks this quarter.
Key financial metrics revealed $3.2 billion in gross sales, up from $2.9 billion the previous year, reflecting increased demand for F&G's retirement products. Consistent net sales of $2.2 billion align with reinsurance targets, reinforcing the company's core operational stability and growth.
Strategic Transactions and Shareholder Initiatives
The strategic sale of F&G Life Re Ltd, involving the transfer of a $1.8 billion inforce block, aligns with the company's reinsurance optimization goals and enhances operational flexibility. The Board's approval of a new $100 million share repurchase program presents an opportunity to strategically manage shareholder value.
F&G will host an earnings call on May 7, 2026, to provide further insights into these financial results. The commitment to advancing market positioning and delivering strategic value to customers and shareholders remains a priority. Interested parties are encouraged to review F&G's Investor Relations resources for more insights.
The favorable returns, adjusted for market conditions, reflect ongoing efforts to foster a resilient, fee-based business model aimed at sustainable long-term growth. The company's forward-looking approach involves navigating economic shifts and regulatory landscapes while strategically managing assets and capital deployment.