F&G Annuities & Life, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 22, 2024 at 02:45 am IST
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F&G Annuities & Life, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 1,612 million compared to USD 627 million a year ago. Net loss was USD 299 million compared to USD 176 million a year ago. Basic loss per share from continuing operations was USD 2.41 compared to USD 1.41 a year ago. Diluted loss per share from continuing operations was USD 2.41 compared to USD 1.41 a year ago.
For the full year, revenue was USD 4,500 million compared to USD 2,349 million a year ago. Net loss was USD 58 million compared to net income of USD 635 million a year ago. Basic loss per share from continuing operations was USD 0.47 compared to basic earnings per share from continuing operations of USD 5.52 a year ago. Diluted loss per share from continuing operations was USD 0.47 compared to diluted earnings per share from continuing operations of USD 5.52 a year ago.
F&G Annuities & Life, Inc. is a provider of insurance solutions serving retail annuity and life customers, as well as institutional clients. Through its insurance subsidiaries, it markets a portfolio of annuities, including fixed indexed annuities (FIAs) and multi-year guarantee annuities (MYGAs), pension risk transfer (PRT) solutions, as well as indexed universal life (IUL) insurance and institutional funding agreements. Its fixed indexed annuities (FIAs) allow contract owners the possibility of earning returns linked to the performance of a specified market index, predominantly the S&P 500 Index, while providing principal protection. All FIA products allow policyholders to allocate funds once a year among several different crediting strategies, including one or more index-based strategies and a traditional fixed rate strategy. Its retail annuities serve as a retirement and savings tool on which its customers rely for principal protection and predictable income streams.