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F&G Annuities & Life FG Universal life — Net liability, after reinsurance

Similar metrics at other companies

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FNFUniversal Life — Net liability, after reinsurance
$2.64B+25.2%
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FNFFABN — Net liability, after reinsurance
$4.08B+44.0%
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FNFFHLB — Net liability, after reinsurance
$2.7B-6.9%
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FNFIndexed annuities — Net liability, after reinsurance
$28.27B-4.8%
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FNFFixed rate annuities — Net liability, after reinsurance
$6.14B+4.5%
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PFGUniversal Life — Unearned Revenue Liability After Reinsurance
$331.8M+9.1%

Other financials

Income statement

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Revenue$1.4B+4.2%
Net income-$76.0M-290%
EPS (diluted)-$0.62-338%

Balance sheet

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Cash & equivalents$2.1B+11.6%
Total debt$2.3B+0.3%
Total equity$4.6B+3.9%
Total assets$103.59B+12.8%

Cash flow

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Operating cash flow$1.5B-8.2%

Valuation

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Market cap$3.62B-22.0%
Enterprise value$3.77B-24.7%
P/E8.7×-5.0×
P/S0.6×-0.3×

Profitability

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Net margin6.9%+0.4pp

Returns & leverage

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Return on equity9.2%+0.8pp
Debt / equity0.5×0.0×

Where this comes from

Reported directly by F&G Annuities & Life in its filing.

Tagged under the XBRL concept fg:PolicyholderAccountBalanceNetOfReinsurance.

The source filing: F&G Annuities & Life’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:08 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q3 2026
Accession
0001934850-26-000085
Line itemIndexed annuitiesFixed rate annuitiesUniversal lifeFABN (a)FHLB (a)
Balance, end of period34,90318,6613,5803,3393,303
Reconciling items (c)2192144(15)
Gross liability, end of period35,12218,6633,7243,3243,303
Less: Reinsurance recoverable6,68112,691890
Net liability, after reinsurance$28,441$5,972$2,834$3,324$3,303
Weighted-average crediting rate3.67%4.81%7.81%N/AN/A
Net amount at risk (d)N/AN/A$29,759N/AN/A
Cash surrender value (e)$32,442$17,527$2,762N/AN/A

Item 1. Condensed Consolidated Financial Statements:

FAQ

What is F&G Annuities & Life's universal life — net liability, after reinsurance?
F&G Annuities & Life (FG) reported universal life — net liability, after reinsurance of $2.83B in Q2 2026.
How has F&G Annuities & Life's universal life — net liability, after reinsurance changed year-over-year?
F&G Annuities & Life's universal life — net liability, after reinsurance increased by 25.7% year-over-year, from $2.25B to $2.83B.
What is the long-term trend for F&G Annuities & Life's universal life — net liability, after reinsurance?
Over 2 years (2023 to 2025), F&G Annuities & Life's universal life — net liability, after reinsurance has grown at a 27.9% compound annual growth rate (CAGR), from $5.67B to $9.28B.
What does universal life — net liability, after reinsurance mean?
Represents the net insurance liability for the universal life segment after accounting for reinsurance recoveries. This metric provides a clearer view of the company's retained insurance risk and net financial exposure. It is a critical figure for assessing the company's solvency and capital adequacy relative to its retained business.

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