F&G Annuities & Life reported Q3 2025 earnings that surpassed analyst expectations, with adjusted net earnings of $165 million ($1.22 per share) versus a consensus estimate of $0.97 per share—a 25.8% beat. Total revenue reached $1.69 billion, outpacing the $1.45 billion forecast by 16.6%, and net earnings of $114 million marked a turnaround from the $10 million loss recorded in Q3 2024.
The earnings beat was driven by strong sales of indexed annuities and life‑insurance products, with gross sales of $4.24 billion and record assets under management of $71.4 billion before flow reinsurance. Cost discipline helped shrink the operating expense ratio to 52 basis points, supporting margin expansion and contributing to the higher earnings figure.
Segment performance showed retail annuity and institutional channels each grew 12% and 8% respectively, while legacy products experienced modest declines. Indexed annuity sales of $1.7 billion accounted for a large portion of the revenue lift, offsetting weaker fixed‑annuity demand.
Management maintained full‑year revenue guidance of $4.396 billion–$4.400 billion, up from $4.14 billion–$4.15 billion, and adjusted operating‑income guidance of $2.151 billion–$2.155 billion, reflecting confidence in continued growth and the company’s shift toward a fee‑based, higher‑margin model. CEO Chris Blunt highlighted progress toward 2023 Investor Day targets and the impact of the new Blackstone‑backed reinsurance sidecar.
Investors reacted positively, with analysts noting the earnings and revenue beats and record AUM as key drivers, underscoring the company’s return to profitability after a Q3 2024 loss.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.