F&G posts Q4 net earnings attributable to common shareholders of USD 124 million (-62%)

F&G reported Q4 FY2025 net earnings attributable to common shareholders of USD 124 million (USD 0.92 per diluted share) and adjusted net earnings of USD 123 million (USD 0.91 per share). For FY2025, net earnings attributable to common shareholders were USD 248 million (USD 1.88 per diluted share) and adjusted net earnings were USD 482 million (USD 3.64 per share). FY2025 gross sales were USD 14.64 billion and net sales were USD 10.03 billion; Q4 gross sales were USD 3.39 billion and net sales were USD 2.30 billion. Assets under management (AUM) were USD 57.57 billion at Dec. 31, 2025, while AUM before flow reinsurance reached a record USD 73.09 billion (+12%) and included retained AUM of USD 57.60 billion. Book value per common share was USD 33.49, and book value per common share excluding AOCI was USD 44.43. In product highlights, FY2025 core sales totaled USD 9.02 billion, including indexed annuities (FIA/RILA) of USD 6.70 billion, indexed universal life (IUL) of USD 190 million, and pension risk transfer $(PRT)$ of USD 2.13 billion; opportunistic sales were USD 5.62 billion, including fixed rate annuities (MYGA) of USD 3.79 billion and funding agreements (FABN/FHLB) of USD 1.83 billion. F&G returned USD 137 million of capital to shareholders in FY2025 through common and preferred dividends. On capital and corporate updates, F&G said its estimated RBC ratio for its primary operating subsidiary was about 430% at Dec. 31, 2025 (above its 400% target) and announced it expects to close the sale of its Bermuda subsidiary, F&G Life Re Ltd, to Ancient Financial Holdings LP on March 1, 2026, which will include a remaining inforce block of about USD 1.90 billion. The company also noted that on Dec. 31, 2025, FNF completed a distribution of about 16 million shares of F&G stock to FNF shareholders, with FNF retaining control through an approximately 70% equity ownership stake. CEO Chris Blunt said FY2025 results were supported by record AUM before flow reinsurance and USD 14.60 billion of gross sales, including USD 9.00 billion of gross sales in core products.

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