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FG NYSE· F&G Annuities & Life Inc
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FG NYSE· F&G Annuities & Life Inc
Earnings report Q3 2023

FG Reports Decrease in Revenue for Latest Quarter

Segments of revenue

FG's revenue for the latest quarter was $851 million, a decrease from the previous year's quarter revenue of $902 million. The breakdown of the different segment revenues is as follows:

  • Life insurance premiums and other fees: $582 million
  • Interest and investment income: $578 million
  • Recognized gains and losses, net: ($309) million

Strengths

Despite the overall decrease in revenue, FG's life insurance premiums and other fees remained relatively stable at $582 million. This indicates a consistent demand for their life insurance products and services. Additionally, the company's interest and investment income increased significantly from $340 million to $578 million, reflecting a positive performance in their investment portfolio.

Challenges

FG experienced a decline in recognized gains and losses, resulting in a net loss of $309 million in this segment. This could be attributed to market volatility or specific investment decisions that did not yield favorable results. The company should closely monitor and manage their investment activities to mitigate potential losses.

Noteworthy

FG's total revenue for the nine months ended September 30, 2023, was $2.89 billion, a substantial increase from the previous year's revenue of $1.72 billion. This growth can be attributed to the combined effect of stable life insurance premiums, increased interest and investment income, and improved market conditions.

Summary

FG reported a decrease in revenue for the latest quarter, primarily driven by a decline in recognized gains and losses. However, the company demonstrated strength in their life insurance premiums and other fees, as well as significant growth in interest and investment income. FG's overall revenue for the nine-month period showed a positive trend, indicating a favorable performance in the long term. The company should focus on addressing the challenges in their recognized gains and losses segment to ensure sustained profitability.

Source documents

Form 10-Q  filed on Nov 08, 2023
3 pages scanned

Reference data

Company financials Q3 revenue 855M
Analyst estimates Q3 EPS missed by -5.88%
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