F&G Annuities & Life Inc 2025年季度报告

SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549Form10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 F&G Annuities & Life, Inc. (Exact name of registrant as specified in its charter) Delaware 85-2487422(I.R.S. Employer Identification No.) (State or other jurisdiction of incorporation ororganization) 801 Grand Avenue,Suite 2600 Des Moines,Iowa50309 (Address of principal executive offices, including zip code) (866)846-4660(Registrant’s telephone number, including area code) (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and(2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every InteractiveData File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit and post such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reportingcompany. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of theExchange Act. (Check one): Non-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐No☒ The registrant had outstanding134,762,569shares of common stock as of April30, 2025. FORM 10-Q QUARTERLY REPORTQuarter Ended March31, 2025 TABLE OF CONTENTS PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements:Condensed Consolidated Balance Sheets (unaudited)Condensed Consolidated Statements of Operations (unaudited)Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited)Condensed Consolidated Statements of Equity (unaudited)Condensed Consolidated Statements of Cash Flows (unaudited)Notes to Unaudited Condensed Consolidated Financial StatementsItem 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsItem 3. Quantitative and Qualitative Disclosures about Market RiskItem 4. Controls and Procedures PART II. OTHER INFORMATION Item1. Legal Proceedings102Item1A. Risk Factors102Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities102Item 3. Defaults Upon Senior Securities102Item 4. Mine Safety Disclosures102Item 5. Other Information102Item6. Exhibits103Signatures104 F&G ANNUITIES & LIFE, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(Dollars in millions, except share data) F&G ANNUITIES & LIFE, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars and shares in millions, except per share data) F&G ANNUITIES & LIFE, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(In millions) F&G ANNUITIES & LIFE, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Dollars in millions, except per share data)(Unaudited) F&G ANNUITIES & LIFE, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In millions) F&G ANNUITIES & LIFE, INC. AND SUBSIDIARIESNOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) Note A —Basis of Financial Statements The financial information in this report presented for interim periods is unaudited and includes the accounts of F&G Annuities & Life,Inc. (“FGAL”) and its subsidiaries (collectively, “we”, “us”, “our”, the "Company" or “F&G”) prepared in accordance with U.S. generallyaccepted accounting principles (“GAAP”) and the instructions to Form 10-Q and Article10 of RegulationS-X. In the opinion ofmanagement, all adjustments considered necessary for a fair presentation have been included. All adjustments made were of a normal,recurring nature. This report should be read in conjunction with our Annual Report on Form 10-K for the year ended December31, 2024,filed on February 28, 2025. Description of the Business F&G is a majority-owned subsidiary of Fidelity National Financial, Inc. (NYSE: FNF) (“FNF”). We provide