Earnings Releases·Nov 5, 2026, 4:18 PM ET

F&G Annuities & Life — Third Quarter 2026 Earnings Summary

Net earnings attributable to common shareholders surged to $736 million ($5.48 per share) from $114 million ($0.85 per share) in Q3 2025, driven by $648 million in net favorable mark-to-market effects; however, adjusted net earnings declined to $96 million ($0.74 per share) from $165 million ($1.22 per share) in the prior year period.
Total revenues fell to $1,131 million from $1,694 million year-over-year, while total benefits and expenses dropped significantly to $195 million from $1,563 million, reflecting the exclusion of the F&G Life Re (Bermuda) sale and other one-time items.
Assets under management reached a record $76.2 billion (up 7% YoY), supported by record core retail sales of $2.1 billion, though net sales decreased to $1.4 billion from $2.8 billion in Q3 2025 due to reduced opportunistic volumes and a strategic de-emphasis on multiyear guaranteed annuities.
The company returned $37 million to shareholders via dividends in the quarter, with $232 million returned year-to-date through dividends and share repurchases, while book value per common share (excluding AOCI) increased $6.94 to $51.37.
Management maintains a disciplined focus on profitability and capital allocation, prioritizing fee-based growth and higher-return opportunities, though adjusted return on average equity declined to 6.7% from 8.8% and adjusted return on assets fell to 0.69% from 0.87%.