FG Annuities Life Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
FG$25.00-2.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Condensed Consolidated Financial Statements:
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in millions, except share data)
| March 31,2024 | December 31,2023 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| Investments: | ||
| Fixed maturity securities available for sale, at fair value, at March 31, 2024 and December 31, 2023, at an amortized cost of $45,792 and $43,601, respectively, net of allowance for credit losses of $33 and $35, respectively | $42,631 | $40,419 |
| Preferred securities, at fair value | 381 | 469 |
| Equity securities, at fair value | 138 | 137 |
| Derivative investments | 1,024 | 797 |
| Mortgage loans, net of allowance for credit losses of $67 and $66 at March 31, 2024 and December 31, 2023, respectively | 5,440 | 5,336 |
| Investments in unconsolidated affiliates (certain investments at fair value of $343 and $285 at March 31, 2024 and December 31, 2023, respectively) | 3,367 | 3,071 |
| Other long-term investments | 634 | 608 |
| Short-term investments | 263 | 1,452 |
| Total investments | 53,878 | 52,289 |
| Cash and cash equivalents | 2,372 | 1,563 |
| Reinsurance recoverable, net of allowance for credit losses of $21 and $21 at March 31, 2024 and December 31, 2023, respectively | 10,112 | 8,960 |
| Goodwill | 2,017 | 1,749 |
| Prepaid expenses and other assets | 980 | 931 |
| Other intangible assets, net | 4,612 | 4,207 |
| Market risk benefits asset | 95 | 88 |
| Income taxes receivable | 23 | 27 |
| Deferred tax asset | 345 | 388 |
| Total assets | $74,434 | $70,202 |
| LIABILITIES AND EQUITY | ||
| Liabilities: | ||
| Contractholder funds | $50,875 | $48,798 |
| Future policy benefits | 7,441 | 7,050 |
| Market risk benefits liability | 425 | 403 |
| Accounts payable and accrued liabilities | 2,237 | 2,011 |
| Notes payable | 1,748 | 1,754 |
| Funds withheld for reinsurance liabilities | 8,025 | 7,083 |
| Total liabilities | $70,751 | $67,099 |
| Equity: | ||
| Preferred stock $0.001 par value; authorized 25,000,000 shares as of March 31, 2024 and December 31, 2023; outstanding and issued 5,000,000 and 0 shares as of March 31, 2024 and December 31, 2023, respectively | $— | $— |
| Common stock, $0.001 par value; authorized 500,000,000 shares as of March 31, 2024 and December 31, 2023; outstanding 126,149,030 and 126,332,142 as of March 31, 2024 and December 31, 2023, respectively; and issued 127,177,857 and 127,234,902 as of March 31, 2024 and December 31, 2023, respectively | — | — |
| Additional paid-in capital | 3,442 | 3,185 |
| Retained earnings | 2,011 | 1,926 |
| Accumulated other comprehensive income (loss) | (1,883) | (1,990) |
| Treasury stock, at cost (1,028,827 shares and 902,760 shares as of March 31, 2024 and December 31, 2023) | (24) | (18) |
| Total F&G Annuities & Life, Inc. shareholders' equity | 3,546 | 3,103 |
| Noncontrolling interests | 137 | — |
| Total equity | 3,683 | 3,103 |
| Total liabilities and equity | $74,434 | $70,202 |
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