FG
Financial ServicesF&G Annuities & Life, Inc. · Insurance - Life · $4B
What is F&G Annuities & Life, Inc.?
F&G Annuities & Life, Inc. is a Des Moines-based insurance holding company that sells fixed annuities and life insurance to retail and institutional customers. It operates as a subsidiary of Fidelity National Financial, Inc.
F&G generates revenue primarily by collecting premiums on fixed annuity and life insurance contracts, then investing those premiums in income-producing assets. The spread between investment returns and policyholder obligations drives profitability. Retail customers use F&G products for retirement income planning, while institutional clients access funding-agreement and pension-risk-transfer solutions. The parent relationship with Fidelity National Financial provides capital support and distribution reach.
The company traces its operating roots to 1959 and is headquartered in Des Moines, Iowa.
- Fixed indexed annuities for retail retirement planning
- Multi-year guaranteed annuities (MYGAs)
- Life insurance products for individuals
- Institutional funding agreements and pension risk transfer solutions
Is FG a Good Stock to Buy?
UQS Score rates FG as Below Average overall, reflecting a mixed profile where an Attractive Valuation is offset by meaningful structural weaknesses.
The Valuation pillar stands out as the clearest positive — FG appears priced below what its fundamentals might otherwise command, which can appeal to value-oriented investors. Quality and Growth both land at Neutral, suggesting the business is functioning but not generating standout returns or expanding at an above-average pace.
The Moat and Risk pillars both register as Weak, indicating limited competitive differentiation and above-average exposure to factors that could pressure the business — concerns worth weighing carefully.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does FG pay dividends?
Yes — F&G Annuities & Life, Inc. pays a dividend.
F&G pays a regular dividend, which is relatively uncommon among recently listed insurance holding companies. The dividend reflects management's intent to return capital to shareholders alongside growth investment. Income-focused investors may find this appealing, though the sustainability of the payout should be evaluated alongside the company's Weak Risk pillar rating.
When does FG report earnings?
F&G Annuities & Life reports earnings on a quarterly cadence, consistent with US-listed financial services companies.
Results in recent quarters have reflected the spread-based nature of the annuity business, where interest rate movements play a significant role. Revenue trends have been shaped by new policy sales and investment portfolio performance rather than traditional product pricing dynamics.
For the most recent quarter's results and guidance commentary, visit F&G Annuities & Life's investor relations page directly.
FG Price History
+28.8% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in F&G Annuities & Life, Inc.?
Based on F&G Annuities & Life, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
FG Long-term Outlook
The fundamental outlook for FG is shaped by its Neutral Growth profile and Weak Risk rating. The annuity market benefits from aging demographics and rising demand for guaranteed retirement income, which provides a structural tailwind. However, the company's limited moat means it competes largely on price and distribution rather than proprietary advantages, which can compress spreads over time. The Attractive Valuation label suggests the market has already priced in a degree of caution.
Growth drivers
- Aging US population increasing demand for fixed annuity products
- Rising interest rate environment supporting investment spread income
- Institutional pension risk transfer market expanding as plan sponsors de-risk
Key risks
- Weak Moat leaves FG exposed to price competition from larger, better-capitalized insurers
- Interest rate volatility can compress investment spreads and pressure earnings
- Weak Risk pillar signals elevated sensitivity to credit or liability-side shocks
FG vs Peers
FG competes in the fixed annuity and life insurance space alongside several mid-cap peers, each with a distinct strategic profile.
Brighthouse focuses on variable and shield annuities with a broader product mix, giving it different interest rate sensitivity than FG's fixed-rate book.
Genworth has a significant long-term care insurance legacy that creates a distinct liability profile and strategic focus compared to FG's annuity-centric model.
CNO targets middle-income Americans through multiple insurance brands, giving it a different distribution strategy and customer demographic than FG.
Frequently Asked Questions
What does F&G Annuities & Life do?
F&G Annuities & Life sells fixed annuities and life insurance products to retail consumers and institutional clients. The company earns money on the spread between what it earns on invested premiums and what it owes policyholders. It operates under the umbrella of Fidelity National Financial.
Does FG pay dividends?
Yes, F&G Annuities & Life pays a regular dividend. This is notable for a relatively recently listed insurance holding company. Investors should review the payout history and the company's Risk pillar profile before relying on dividend income.
When does FG report earnings?
F&G reports on a quarterly cadence like most US-listed companies. For exact dates and the most recent results, check the investor relations section of the F&G Annuities & Life website, as our data source does not cover specific upcoming earnings dates.
Is FG a good stock to buy?
UQS Score rates FG as Below Average overall. The Valuation pillar is Attractive, which may interest value-focused investors, but the Weak Moat and Weak Risk pillars represent meaningful concerns. Whether FG fits a portfolio depends on individual risk tolerance and investment goals.
Is FG overvalued?
Based on the UQS Valuation pillar, FG currently appears Attractive — meaning it does not look expensive relative to its fundamentals. That said, a low valuation can reflect genuine risks, and FG's Weak Risk and Moat ratings are part of that picture.
How does FG compare to its competitors?
FG competes with peers like Brighthouse Financial, Genworth Financial, and CNO Financial Group. Each has a different product mix and customer focus. FG's fixed annuity concentration and institutional funding business set it apart, though its Weak Moat suggests limited pricing power versus larger rivals.
What is FG's market cap bracket?
F&G Annuities & Life is classified as a mid-cap company. This places it in a segment that often balances growth potential with greater volatility than large-cap peers, and it may receive less analyst coverage than the biggest insurers.
Who founded F&G Annuities & Life?
The operating business traces its roots to 1959. The current publicly listed entity, F&G Annuities & Life, Inc., was structured as a subsidiary of Fidelity National Financial. Detailed founding history is available through the company's official investor relations materials.
Is FG a long-term quality investment?
As a long-term quality indicator, FG's Below Average UQS Score warrants caution. The Neutral Quality and Growth pillars suggest the business is stable but not compounding at an exceptional rate, while the Weak Moat and Risk pillars raise questions about durability over a long horizon.
What is the main competitive advantage of F&G Annuities & Life?
F&G's UQS Moat pillar is rated Weak, indicating limited structural competitive advantages. Its main practical strengths lie in its distribution relationships, its institutional funding-agreement capabilities, and the capital backing of parent company Fidelity National Financial.
What sector does FG belong to?
F&G Annuities & Life operates in the Financial Services sector, specifically within the life and annuity insurance industry. This sector is sensitive to interest rate movements, credit conditions, and regulatory changes affecting insurance products.
Is FG a growth stock or value stock?
Based on UQS pillar labels, FG leans toward value territory — the Valuation pillar is Attractive while Growth is only Neutral. It does not exhibit the high-growth characteristics typically associated with growth stocks, making it more relevant to investors seeking undervalued income-oriented names.
Unlock Full FG Analysis
Sign in to unlock the detailed analysis behind the UQS Score.
- ✓View the exact UQS Score and all five pillar scores
- ✓Access full financial metrics and trend data
- ✓Compare FG against sector peers side by side
- ✓See the complete risk and valuation breakdown
- ✓Get Pro-level insight on dividend sustainability indicators
Pro Analysis
FG — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 15, 2026 | 57.6 | 55.6 | 34.0 | 48.5 | 70.1 | 100.0 | +8.9 |
| May 9, 2026 | 48.7 | 51.9 | 34.0 | 35.1 | 34.7 | 100.0 | +0.1 |
| Apr 2, 2026 | 48.6 | 40.6 | 34.0 | 48.5 | 34.6 | 100.0 | — |
FG — Pillar Breakdown
Quality
— 55.6/100 (25%)F&G Annuities & Life, Inc. shows solid profitability with healthy returns on capital and reasonable margins.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 48.5/100 (20%)F&G Annuities & Life, Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 70.1/100 (15%)F&G Annuities & Life, Inc. maintains a reasonable risk profile with manageable debt levels.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 100.0/100 (15%)F&G Annuities & Life, Inc. appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 34/100 (25%)F&G Annuities & Life, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for FG.
Score Composition
Financial Data
More Stock Analysis
How is the FG UQS Score Calculated?
The UQS (Unified Quality Score) for F&G Annuities & Life, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses F&G Annuities & Life, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether F&G Annuities & Life, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.