F&G Annuities & Life Q1 2025: Net Loss Amid Record AUM Growth

F&G Annuities & Life Inc. reported a first-quarter 2025 net loss of $25 million, a decline from a $111 million profit in the prior year. Despite the loss, the company saw a 16% year-over-year increase in assets under management, reaching a record $67.4 billion, driven by strong indexed annuity sales. Adjusted net earnings fell to $91 million, or $0.72 per share, down from $108 million or $0.86 per share in Q1 2024, while the adjusted return on equity improved to 9.7%.

The company maintained a high-quality investment portfolio with 96% of fixed maturities rated investment grade, completed a public offering raising $269 million to support organic growth, and returned $30 million to shareholders via dividends. F&G’s management highlighted strategic capital allocation and organic growth initiatives as key to navigating ongoing economic challenges and meeting medium-term financial targets.