AI-extracted from the 10-Q filed 2026-08-06 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
F&G reported a net loss of $76M in Q2 2026 despite revenue of $1.4B, with indexed annuity sales growth offset by PRT decline and derivative volatility pressuring earnings.
Biggest Revenue Drivers
Interest and investment income$718M+5% YoY
Higher AAUM growth and yield on AAUM of 5.12%, up from 4.94% YoY
Life insurance premiums and other fees$394M-35% YoY
Lower PRT premiums due to timing of transactions; surrenders and policyholder fees relatively stable
Biggest Revenue Drivers
Total revenue: $1,421M+4% YoY
Interest and investment income$718M+5% YoY
Higher AAUM growth and yield on AAUM of 5.12%, up from 4.94% YoY
Life insurance premiums and other fees$394M-35% YoY
Lower PRT premiums due to timing of transactions; surrenders and policyholder fees relatively stable
Recognized gains and losses, net$290M+468% YoY
Equity options gains of $527M and derivatives gains of $352M, offset by fixed maturity losses
Owned distribution revenues$19M-17% YoY
Lower commission revenues from majority-owned distribution partners
Largest Expense Items
Benefits and other changes in policy reserves$1,149M+16% YoY
Higher index credits and interest credited on indexed annuities from market movement; PRT reserves from timing
Depreciation and amortization$175M+11% YoY
Increased DAC and DSI amortization from business growth and higher amortization rates from actuarial assumptions
Market risk benefit losses$32MUnfavorable vs. $4M gain YoY
Unfavorable market-related movements offset by favorable actual policyholder behavior vs. expected
Personnel costs and other operating expenses$118M-1% YoY
Costs in line with sales volumes; disciplined expense management partially offset by platform investments
Margins: Gross margin pressure from derivative and embedded derivative volatility, with equity option gains (+$527M) largely reversed by mark-to-market movements and MRB losses ($32M). Operating leverage constrained by higher crediting costs on indexed products and PRT growth.
Watch Items from the Filing
PRT premiums declined 48% YoY to $226M in Q2 2026 from $432M; material swing in core business timing affecting quarterly profitability.
Net loss of $76M in Q2 2026 despite $1.4B revenue, driven by derivative/embedded derivative volatility; six-month earnings of $172M show cyclical pattern.
Indexed annuity sales of $1.7B grew 2% YoY but subject to pricing discipline and capital allocation constraints; core sales down from prior year trends.
Concentration in reinsurance: $20.9B reinsurance recoverable (gross) with largest counterparties Aspida ($8.4B), Somerset ($6.2B), and Everlake ($1.9B); credit mitigation via collateral.
Sale of F&G Life Re completed March 1, 2026 for $102M cash plus 19.9% LP interest in Ancient; $56M goodwill impairment; ongoing reinsurance agreement with Ancient effective March 1, 2026.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Foley William P IIExecutive ChairmanShares withheld for tax or exercise price · Feb 27, 2026
Young Wendy J.B.EVP, CLO & TreasurerShares withheld for tax or exercise price · Feb 27, 2026
About F&G Annuities & Life, Inc. (FG): stock profile, AI score and financials
F&G Annuities & Life, Inc. (FG) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores FG at 59.7/100 on a composite quality score built from its SEC filings, placing it at rank #913 of 2,925 stocks — the top half of the AI-ranked universe. FG scores in the top quartile across free cash flow (98.1), earnings quality (97.0), revenue scale (80.3). Areas of concern include balance sheet strength (36.1), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), F&G Annuities & Life, Inc. reports quarterly revenue of $1.4B, net income of $-76.0M. FG trades on the NYSE exchange and files with the SEC under CIK 1934850. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FG daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for F&G Annuities & Life, Inc. directly from SEC EDGAR.