F&G Annuities & Life, Inc. reported its financial results for the second quarter of 2026, revealing total revenues of $1.421 billion, a 4.2% increase from $1.364 billion in the same period last year. For the first half of 2026, revenues rose to $2.608 billion, compared to $2.272 billion in the first half of 2025. The company experienced a net loss attributable to common shareholders of $81 million for the second quarter, a decline from a profit of $35 million in the prior year. For the six months ending June 30, 2026, net earnings attributable to common shareholders were $163 million, up from $10 million in the same period of 2025.
The company’s financial performance was impacted by a significant increase in benefits and other changes in policy reserves, which rose to $1.149 billion in the second quarter from $993 million a year earlier. This increase was primarily driven by higher indexed annuity market-related liability movements and policyholder behavior. Additionally, the company reported recognized gains of $290 million in the second quarter, a notable increase from $51 million in the same quarter of 2025, largely due to favorable market conditions and the sale of its Bermuda-based subsidiary, F&G Life Re, which generated a pre-tax gain of approximately $14 million.
F&G Annuities & Life also announced strategic leadership changes, with Conor Murphy stepping into the role of Chief Executive Officer effective June 30, 2026, following Chris Blunt's retirement. The company has also initiated a stock repurchase program, allowing for the repurchase of up to $100 million of its common stock over the next three years. As of June 30, 2026, F&G had repurchased approximately 3.33 million shares at an average price of $27.27 per share.
Operationally, F&G reported a total of 130,935,209 shares of common stock outstanding as of July 31, 2026. The company’s total assets increased to $103.592 billion from $98.430 billion at the end of 2025, driven by growth in investments and cash reserves. The company’s investment portfolio remains robust, with total investments valued at $70.281 billion, reflecting a strategic focus on high-quality fixed income securities. The company continues to monitor market conditions closely, particularly the impact of interest rate fluctuations on its investment income and policyholder behavior.
Looking ahead, F&G Annuities & Life anticipates continued challenges from market volatility and changing economic conditions, which may affect sales and profitability. The company remains committed to enhancing its product offerings and expanding its market presence, particularly in the middle-income segment, which it identifies as a significant growth opportunity. The management is focused on maintaining a disciplined approach to capital allocation and risk management to navigate the evolving landscape effectively.
About F&G Annuities & Life, Inc.
F&G Annuities & Life, Inc. provides insurance solutions including fixed and indexed annuities, life insurance, pension risk transfer, and institutional funding agreements. Serving retail and institutional markets, it leverages diversified distribution channels, strategic partnerships, and a strong investment portfolio. The company focuses on long-term growth, product innovation, and market expansion, offering principal protection, guaranteed income, and risk management services to help customers secure retirement and savings goals.
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