F&G Annuities & Life Inc

fglife.com

What Do They Do?

Sells annuities and life insurance to retail customers, and pension risk transfer solutions and funding agreements to institutional clients.

How Do They Make Money?

F&G earns investment income on balances backing annuities, pension arrangements and funding agreements, plus life premiums and fees. Life premiums are due from policyholders; rider income comes when elected, and surrender charges apply when policyholders withdraw early or cancel.

FY2025 revenue

Who Are Their Customers?

Retail customers buy annuities and life insurance through independent agents, banks and broker-dealers; institutional clients obtain funding agreements through investment banks and pension annuity solutions through brokers and institutional consultants.

Do Revenues Turn Into Profits?

Yes. It kept 5 cents of every revenue dollar as net income in FY2025.

Net income, FY2025

5% of revenue

▼ −59% vs FY2024 ($639M, 11%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +4%; vs $1.4B in Q2 FY2025
Net income: ▼ Now a loss; vs $40M in Q2 FY2025

Jun 16, 2026 CEO Chris Blunt retired; Conor Murphy became CEO and president Michael Bailey was also appointed CFO, effective August 3, 2026.

Growing. Revenue grew 44% in 4 years, from $4B in FY2021 to $5.7B in FY2025, about 10% a year.

Added a registered annuity product The latest report includes registered index-linked annuities in its product portfolio; the older report listed fixed indexed and multi-year guaranteed annuities, but not registered index-linked annuities.

Expanded owned distribution The latest report describes an owned distribution portfolio that includes a controlling stake in an annuity and life insurance wholesaler and an acquired agency. The older report discussed minority stakes in two network marketing groups.

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