F&G Annuities & Life, Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
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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Consolidated Balance Sheets as of December 31, and
(Dollars in millions, except share data)
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| ASSETS: | ||
| Investments | ||
| Fixed maturity securities available for sale, at fair value, at December 31, 2025 and 2024, at an amortized cost of $55,292 and $49,729, respectively, net of allowance for credit losses of $104 and $62, respectively | $52,700 | $46,317 |
| Equity securities, at fair value | 341 | 415 |
| Derivative investments | 1,148 | 792 |
| Mortgage loans, net of allowance for credit losses of $86 and $70 at December 31, 2025 and 2024, respectively | 7,891 | 5,926 |
| Investments in unconsolidated affiliates (2025 includes $262 related to investments held by consolidated variable interest entities (“VIEs”) and 2025 and 2024 include certain investments at fair value of $270 and $272, respectively) | 4,878 | 3,565 |
| Other long-term investments (2025 includes $248 related to investments held by consolidated VIEs) | 1,294 | 580 |
| Policy loans | 147 | 104 |
| Short-term investments (2025 includes $116 related to investments held by consolidated VIEs) | 1,043 | 2,410 |
| Total investments | 69,442 | 60,109 |
| Cash and cash equivalents (2025 includes $2 related to investments held by consolidated VIEs) | 1,486 | 2,264 |
| Reinsurance recoverable, net of allowance for credit losses of $18 and $20 at December 31, 2025 and 2024, respectively | 17,545 | 13,369 |
| Goodwill | 2,180 | 2,179 |
| Prepaid expenses and other assets (certain assets held at fair value of $24 and $11 at December 31, 2025 and 2024, respectively) | 1,052 | 950 |
| Other intangible assets, net | 6,275 | 5,572 |
| Market risk benefits asset | 285 | 189 |
| Income taxes receivable | 83 | — |
| Deferred tax asset, net | 82 | 299 |
| Total assets | $98,430 | $84,931 |
| LIABILITIES AND EQUITY | ||
| Liabilities: | ||
| Contractholder funds | $62,726 | $56,404 |
| Future policy benefits | 10,755 | 8,749 |
| Market risk benefits liability | 903 | 549 |
| Accounts payable and accrued liabilities | 2,701 | 2,219 |
| Income taxes payable | — | 5 |
| Notes payable | 2,237 | 2,171 |
| Funds withheld for reinsurance liabilities | 14,191 | 10,758 |
| Total liabilities | 93,513 | 80,855 |
| Equity: | ||
| Preferred stock $0.001 par value; authorized 25,000,000 shares; outstanding and issued 5,000,000 as of December 31, 2025 and 2024 | — | — |
| F&G common stock, $0.001 par value; authorized 500,000,000 shares as of December 31, 2025 and 2024; outstanding of 135,610,292 and 126,792,844, respectively, and issued of 137,056,106 and 127,952,143, respectively | — | — |
| Additional paid-in-capital | 3,764 | 3,464 |
| Retained earnings | 2,568 | 2,440 |
| Accumulated other comprehensive income (loss) ("AOCI") | (1,488) | (1,923) |
| Treasury stock, at cost (1,445,814 shares and 1,159,299 shares as of December 31, 2025 and 2024, respectively) | (40) | (30) |
| Total F&G Annuities & Life, Inc. shareholders' equity | 4,804 | 3,951 |
| Non-controlling interests | 113 | 125 |
| Total equity | 4,917 | 4,076 |
| Total liabilities and equity | $98,430 | $84,931 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.