Welcome to our dedicated page for F&G Annuities & Life news (Ticker: FG), a resource for investors and traders seeking the latest updates and insights on F&G Annuities & Life stock.
F&G Annuities & Life, Inc. (NYSE: FG) is a direct life insurance carrier headquartered in Des Moines, Iowa, and a majority-owned subsidiary of Fidelity National Financial, Inc. Public communications describe F&G as a provider of insurance solutions for retail annuity and life customers and institutional clients, with products that include fixed indexed annuities, multi-year guarantee annuities, immediate annuities, indexed universal life insurance, funding agreements, and pension risk transfer solutions.
The FG news feed highlights company announcements that matter to investors and market watchers, such as quarterly and year-to-date financial results, changes to common and preferred stock dividends, and updates on capital management. Recent releases have covered record assets under management before flow reinsurance, gross and net sales performance, adjusted net earnings, and details about the company’s investment portfolio and credit experience.
News items also track F&G’s relationship with its majority shareholder, Fidelity National Financial. These include announcements of a special stock distribution of F&G common stock by FNF to its shareholders and subsequent updates on the final distribution ratio and mechanics of that transaction. Such developments can affect F&G’s public float and ownership profile, making them relevant for FG stock research.
In addition, F&G regularly announces earnings release dates, conference calls, and participation by senior executives in financial services and insurance conferences. These events provide forums where management discusses strategy, performance metrics, reinsurance structures, and progress toward previously stated targets. Investors and analysts can use the news stream to follow how F&G reports on its annuity and life insurance business, institutional solutions, capital structure, and ongoing interactions with the broader financial community.
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F&G Annuities & Life, Inc. (NYSE: FG) will announce its first quarter 2023 earnings on May 3, 2023, after market close. The results will be discussed in a conference call on May 4, 2023, at 9:00 a.m. Eastern Time. Investors can access the earnings release and further details via the Investor Relations website. The company's commitment lies in providing insurance solutions for retail and institutional clients, enhancing financial security for Americans. For any inquiries, investors can contact Lisa Foxworthy-Parker, SVP of Investor & External Relations.
Fidelity National Financial (NYSE: FNF) has announced the upcoming release of its first quarter 2023 earnings, scheduled for May 3, 2023, after market close. Following this, a webcast and conference call will be held on May 4, 2023, at 11:00 a.m. ET to discuss the financial results. FNF, a prominent provider of title insurance and transaction services, along with its subsidiary F&G Annuities & Life (NYSE: FG), leads the market in issuing title insurance policies across the U.S. Investors can access the earnings release and related information through FNF's Investor Relations website.
F&G Annuities & Life (NYSE: FG) has announced the formation of "Team F&G," featuring LPGA golfers Alison Lee, Andrea Lee, and Annie Park as brand ambassadors for the 2023-2024 season. This initiative aims to strengthen F&G's presence in multicultural markets, aligning with the company’s strategy that emphasizes female advisors as key sales drivers. The golfers will showcase F&G's logo on their apparel and engage in community events, sharing inspiring stories. The team will debut at the JM Eagle LA Championship from April 27-30, 2023. F&G's partnership with these accomplished athletes reflects its commitment to connecting with diverse customer bases and enhancing brand visibility.
F&G Annuities & Life, Inc. (NYSE: FG) announced the appointment of Douglas Martinez as an independent director, effective immediately. This brings the Board of Directors to seven members, with three independent members. Chairman William P. Foley II emphasized that Martinez's leadership experience will enhance operational expertise and support F&G's growth initiatives, aimed at increasing profitability and shareholder value. Martinez boasts 38 years of executive leadership in various organizations, including serving as CEO and COO in notable companies. His extensive background is expected to contribute to F&G's strategic leadership and expansion efforts.
Unisys Corporation (NYSE: UIS) has finalized an agreement with F&G Annuities & Life, Inc. (NYSE: FG) to purchase group annuity contracts valued at approximately $265 million. This deal will allow Unisys to transfer projected pension benefit obligations for about 8,650 retirees to F&G, facilitating a significant reduction in pension liabilities on its balance sheet.
The transaction will incur a one-time, non-cash, pre-tax settlement charge of $193 million, but will not affect the company's cash position. Since 2020, Unisys has removed over $1 billion in U.S. defined benefit obligations.
F&G Annuities & Life has announced a new three-year stock repurchase program, effective March 21, 2023, allowing the company to buy back up to $25 million of its common stock. This initiative aims to leverage shares trading below intrinsic value, as indicated by CEO Chris Blunt. The company has experienced faster growth in assets and earnings than initially planned. This repurchase plan complements a recent $100 million annual dividend authorization, demonstrating F&G's commitment to enhancing shareholder value through substantial capital returns.
F&G Annuities & Life, Inc. (NYSE: FG) announced the promotions of Leena Punjabi and Matt Christensen to Executive Vice President. Punjabi, formerly Chief Investment Officer, will continue overseeing F&G's investment portfolios, enhancing product competitiveness without increasing credit risk. Christensen, previously Chief Operating Officer, will focus on operational strategy optimization. Both executives joined F&G in 2019 and have significantly contributed to the company's growth and strategic goals. Their promotions aim to foster continued value generation for customers and shareholders.
Fidelity National Financial (FNF) reported its Q4 and full-year 2022 financial results with net earnings of $68 million ($0.25/share) for Q4, down from $533 million ($1.87/share) in Q4 2021. Full-year net earnings were $1.1 billion ($4.10/share), a decrease from $2.4 billion ($8.44/share) in 2021. The Title segment faced challenges, generating $1.9 billion in Q4 revenue, a 42% drop year-over-year, while F&G reported strong gross sales of $2.7 billion, up 23%. FNF repurchased 1 million shares for $38 million in Q4 and paid a dividend of $0.45/share. The company ends 2022 with $939 million in cash and short-term liquid investments.
Fidelity National Financial (NYSE:FNF) reported significant declines in net earnings for Q4 and full-year 2022. Q4 net earnings totaled $68 million ($0.25/share), a steep drop from $533 million ($1.87/share) in Q4 2021. Full-year earnings were $1.1 billion ($4.10/share) down from $2.4 billion ($8.44/share) in 2021. The Title segment saw revenues of $1.9 billion in Q4, a 42% decrease year-over-year, and $9.1 billion for the full year, reflecting declines due to rising mortgage rates. F&G, however, reported record sales of $11.3 billion for the year. FNF returned over $1 billion to shareholders in 2022 through dividends and share repurchases.