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. reports developments in annuity, life insurance and institutional insurance markets. The company serves retail annuity and life customers as well as institutional clients through insurance subsidiaries, with products that include fixed indexed annuities, registered index-linked annuities, multi-year guaranteed annuities, immediate annuities, indexed universal life insurance, funding agreements and pension risk transfer solutions.
Company announcements commonly address quarterly results, spread-based and fee-based operating performance, investment portfolio commentary, reinsurance arrangements, product distribution relationships, common and preferred stock dividends, share repurchase authorizations and ownership matters involving Fidelity National Financial, its majority shareholder.
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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, 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.
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.