F&G Annuities & Life swings to $25 million Q1 2025 net loss; adjusted earnings $91 million
F&G Annuities & Life reported a first-quarter 2025 net loss attributable to common shareholders of $25 million, or $0.20 per diluted share, compared with net earnings of $111 million, or $0.88 per share, a year earlier. Adjusted net earnings fell to $91 million, or $0.72 per share, from $108 million, or $0.86 per share, which shareholders may view as weaker core earnings even as assets under management reached a record $67.4 billion before flow reinsurance.
Key points
- Net loss of $25 million, or $0.20 per diluted share, versus net earnings of $111 million, or $0.88 per share, in Q1 2024; the loss included $105 million of unfavorable mark-to-market effects.
- Adjusted net earnings of $91 million, or $0.72 per share, versus $108 million, or $0.86 per share; the quarter included $16 million of income from a reinsurance true-up adjustment.
- Gross sales of $2.9 billion, down 17% from Q1 2024, and net sales of $2.2 billion, compared with $2.3 billion.
- In March 2025, F&G completed a public offering of 8 million common shares with net proceeds of nearly $269 million; book value per common share excluding AOCI was $43.31.
The filing
Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.