Here are the 10-K annual reports from F&G Annuities & Life, Inc. 7.300% Junior Subordinated Notes due 2065 (FGSN) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow FGSN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FGSN filings page.
F&G Annuities & Life, Inc. reports strong growth as a diversified annuity and life insurer serving retail and institutional clients. Assets under management rose to $57.6 billion as of December 31, 2025, up from $26.5 billion at the time of its 2020 acquisition by Fidelity National Financial.
For 2025, net earnings attributable to F&G were $265 million, with adjusted net earnings of $482 million and adjusted ROA of 87 basis points. Inforce liabilities reached $56.8 billion, supported by a largely NAIC 1–2 investment portfolio and an estimated RBC ratio of about 430% at FGL Insurance.
Gross sales grew to $14.6 billion in 2025, driven by fixed indexed annuities, fixed rate annuities, pension risk transfer and funding agreements, while fee-based earnings from reinsurance, middle market life and owned distribution increased. Total F&G equity was $4.8 billion and common shareholders’ equity excluding AOCI was $6.0 billion, and financial strength ratings have been upgraded by multiple agencies since 2020.