NYSE$FG
F&G Annuities & Life Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
F&G reported mixed results for Q4 2023, with record sales offset by a net loss due to market volatility, while AUM reached a record high.
F&G Annuities & Life reported a net loss of $299 million for Q4 2023, impacted by unfavorable mark-to-market effects, but achieved record gross sales of $4.1 billion and record AUM of $49.5 billion. The company's adjusted net earnings were $75 million, influenced by investment income from alternative investments and significant expense items.
- F&G achieved record gross sales of $4.1 billion, a 52% increase year-over-year.
- Assets under management (AUM) reached a record $49.5 billion, up 14% from the previous year.
- The company's estimated risk-based capital (RBC) ratio was approximately 440%, exceeding the target of 400%.
- A.M. Best upgraded F&G's financial strength ratings to 'A' (Excellent) from ‘A-’ (Excellent).
Headline financials
Revenue & EPS history
F&G Annuities & Life · Revenue · Quarterly
$1.61B
Revenue by segment
F&G Annuities & Life · $1.36B total across 4 segments · Q2 2025
- Interest and investment income$682M—50.0%
- Life insurance premiums and other fees$608M—44.6%
- Recognized gains and (losses), net$51M—3.7%
- Owned distribution revenues$23M—1.7%
Forward guidance
F&G is optimistic about delivering double-digit sales growth in 2024, driven by the launch of their RILA product and continued margin expansion. They are also focused on managing operating expenses, enhancing investment margin opportunities, and growing the earnings power of the company. F&G is well-positioned to execute on its owned distribution strategy.
Tailwinds
- Launch of RILA product expected to support double-digit sales growth in 2024
- Continued margin expansion through effective management of operating expenses
- Enhanced investment margin opportunities
- Growth in the earnings power of F&G
- Execution on owned distribution strategy to strengthen distribution relationships and diversify earnings
Headwinds
- No negative aspects provided in the document.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2023
-1.2%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+2.6%
Avg return
30 days after
42%
8 / 19 earnings
Positive
+18.3%
Q3 2022
Best reaction
-17.7%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | -8.2% | -5.4% | -5.6% | |
| Q4 2025 | -8.4% | -15.8% | -14.8% | |
| Q3 2025 | +2.5% | +11.4% | +12.9% | |
| Q1 2025 | -14.6% | -13.2% | -7.5% | |
| Q4 2024 | -8.7% | -4.8% | -21.2% | |
| Q3 2024 | +11.1% | +15.9% | +14.8% | |
| Q2 2024 | +0.4% | +0.2% | +8.9% | |
| Q1 2024 | -1.0% | -4.3% | -3.4% | |
| Q4 2023 | -10.7% | -11.0% | -11.5% | |
| Q3 2022 | +18.3% | +13.8% | +36.0% | |
| Q3 2023 | +15.3% | +16.8% | +40.5% | |
| Q2 2023 | -1.9% | +8.1% | -4.9% | |
| Q1 2022 | +0.1% | +4.5% | +33.1% | |
| Q1 2023 | -17.7% | -7.8% | +18.7% | |
| Q2 2022 | +5.2% | +4.1% | +14.7% | |
| Q2 2020 | -3.1% | -2.8% | -15.7% | |
| Q4 2020 | -3.1% | -2.8% | -15.7% | |
| Q4 2021 | -3.1% | -2.8% | -15.7% | |
| Q4 2022 | +4.2% | +2.1% | -14.1% | |
| Q3 2021 | — | — | — | |
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| Q4 2019 | — | — | — | |
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| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
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| Q4 2017 | — | — | — | |
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| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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