Despite the net loss, the firm reported adjusted net earnings of $85 million, or $0.65 per share. Management emphasized that these adjusted figures provide a clearer view of core business profitability by stripping away short-term market fluctuations and non-recurring expenses. The company achieved a milestone in scale, reaching record assets under management (AUM) of $74.7 billion, an 8% increase compared to the second quarter of 2025.
In section Releases
F&G Annuities & Life Reports Q2 Loss Amid Market Volatility
F&G Annuities & Life posted a net loss of $81 million for the second quarter of 2026, a sharp reversal from the $35 million profit recorded during the same period last year. The company cited significant unfavorable mark-to-market effects and other non-operating items as the primary drivers behind the quarterly deficit.
CEO Conor Murphy highlighted the company's resilient credit performance, noting that 97% of its fixed maturity assets are investment grade. Credit-related impairments remained low, averaging 6 basis points over the last five years. While opportunistic sales dropped as the company prioritized disciplined pricing and capital allocation, core retail sales remained robust. F&G returned $128 million to shareholders during the quarter through a combination of dividends and share repurchases, reflecting confidence in its ongoing financial flexibility.
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