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F&G Annuities & Life Reports Second Quarter 2026 Performance

In the latest financial report, F&G Annuities & Life, Inc. (NYSE: FG) has unveiled its outcomes for the second quarter ending June 30, 2026. The company has faced challenging market conditions, resulting in a net loss attributable to common shareholders amounting to $81 million or $0.62 per diluted share. This represents a significant downturn compared to the net earnings of $35 million, or $0.26 per share, recorded in the same quarter of the previous year.

Key Financial Highlights

The report details several crucial metrics that provide insight into the company's operational and financial health:

• - Net Loss and Adjusted Earnings: The reported net loss included adverse mark-to-market effects totaling $144 million. However, when adjusted to exclude these fluctuations, the adjusted net earnings attributable to common shareholders were reported at $85 million, equating to $0.65 per share. This was a decline from the adjusted net earnings of $103 million, or $0.77 per share, from Q2 2025.

• - Assets Under Management: A positive takeaway from the report was the achievement of record assets under management (AUM) before reinsurance, reaching nearly $74.7 billion, which indicates an 8% increase over the previous year. The retained AUM stood stable at $55.9 billion, reflecting a modest growth from $55.6 billion in Q2 2025.

• - Sales Performance: The company experienced gross sales of $2.7 billion during the second quarter, which was lower than the $4.1 billion noted in Q2 2025. Yet their net sales totaled $1.5 billion, signaling a strategic refinement in their focus towards manageable, long-term growth.

Investment Portfolio Performance

F&G's investment portfolio continues to demonstrate resilience, with the retained investment portfolio maintaining a commendable grade. Notably, 97% of fixed maturities within the portfolio are classified as investment grade, aligning well with the company's liability profile. Consistent prudence in managing risks resulted in credit-related impairments remaining low, averaging just 6 basis points over the past five years.

Capital Allocation and Returns to Shareholders

The firm demonstrated its commitment to returning value to shareholders, having returned approximately $128 million in capital during the quarter. This includes $37 million of dividends and $91 million dedicated to repurchasing 3.3 million shares of common stock. In total, F&G has returned about $195 million of capital throughout the first half of 2026.

Chief Executive Officer Conor Murphy commented on the quarter's performance, emphasizing the enduring strength of F&G's business model. He celebrated the record AUM and the company’s disciplined marketing and pricing strategies aimed at bolstering long-term growth while remaining adaptable to fluctuating market conditions.

Looking Ahead

Conor Murphy expressed strong optimism regarding future prospects, noting potential opportunities to scale revenue from fee-based, high-margin services while simultaneously growing their core spread-based franchise. With favorable demographic trends and a robust financial strategy, F&G appears positioned to foster growth and enhance shareholder value in the upcoming quarters.

In summary, while the second quarter of 2026 posed numerous challenges for F&G Annuities & Life, the company's strategic focus on growth, disciplined risk management, and committed return of capital present a positive outlook amidst a competitive market landscape.

For those interested in detailed quarterly findings and long-term projections, F&G invites stakeholders to partake in their upcoming earnings call scheduled for August 6, 2026.