FG Annuities Life Inc
For the period ended Sep 30, 2024. Filed Nov 7, 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.
Sep 30, 2024 · Filed Nov 7, 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)
| September 30,2024 | December 31,2023 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| Investments: | ||
| Fixed maturity securities available for sale, at fair value, at September 30, 2024 and December 31, 2023, at an amortized cost of $49,026 and $43,601, respectively, net of allowance for credit losses of $62 and $35, respectively | $46,909 | $40,419 |
| Preferred securities, at fair value | 289 | 469 |
| Equity securities, at fair value | 146 | 137 |
| Derivative investments | 1,401 | 797 |
| Mortgage loans, net of allowance for credit losses of $69 and $66 at September 30, 2024 and December 31, 2023, respectively | 5,626 | 5,336 |
| Investments in unconsolidated affiliates (certain investments at fair value of $272 and $285 at September 30, 2024 and December 31, 2023, respectively) | 3,666 | 3,071 |
| Other long-term investments | 675 | 608 |
| Short-term investments | 681 | 1,452 |
| Total investments | 59,393 | 52,289 |
| Cash and cash equivalents | 3,539 | 1,563 |
| Reinsurance recoverable, net of allowance for credit losses of $21 at September 30, 2024 and December 31, 2023 | 12,404 | 8,960 |
| Goodwill | 2,179 | 1,749 |
| Prepaid expenses and other assets | 942 | 931 |
| Other intangible assets, net | 5,349 | 4,207 |
| Market risk benefits asset | 134 | 88 |
| Income taxes receivable | 2 | 27 |
| Deferred tax asset, net | 181 | 388 |
| Total assets | $84,123 | $70,202 |
| LIABILITIES AND EQUITY | ||
| Liabilities: | ||
| Contractholder funds | $55,468 | $48,798 |
| Future policy benefits | 8,268 | 7,050 |
| Market risk benefits liability | 603 | 403 |
| Accounts payable and accrued liabilities | 3,291 | 2,011 |
| Notes payable | 2,038 | 1,754 |
| Funds withheld for reinsurance liabilities | 9,980 | 7,083 |
| Total liabilities | $79,648 | $67,099 |
| Equity: | ||
| Preferred stock $0.001 par value; authorized 25,000,000 shares as of September 30, 2024 and December 31, 2023; outstanding and issued 5,000,000 and 0 shares as of September 30, 2024 and December 31, 2023, respectively | $— | $— |
| Common stock, $0.001 par value; authorized 500,000,000 shares as of September 30, 2024 and December 31, 2023; outstanding 126,094,481 and 126,332,142 as of September 30, 2024 and December 31, 2023, respectively; and issued 127,123,308 and 127,234,902 as of September 30, 2024 and December 31, 2023, respectively | — | — |
| Additional paid-in-capital | 3,456 | 3,185 |
| Retained earnings | 2,145 | 1,926 |
| Accumulated other comprehensive (loss) income | (1,231) | (1,990) |
| Treasury stock, at cost (1,028,827 shares and 902,760 shares as of September 30, 2024 and December 31, 2023) | (24) | (18) |
| Total F&G Annuities & Life, Inc. shareholders' equity | 4,346 | 3,103 |
| Non-controlling interests | 129 | — |
| Total equity | 4,475 | 3,103 |
| Total liabilities and equity | $84,123 | $70,202 |
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