F&G Annuities & Life, Inc. (FG) Q1 2025 Earnings Call Transcript

2025-05-11 05:07:10 ET

F&G Annuities & Life, Inc. (FG)

Q1 2025 Earnings Conference Call

May 08, 2025, 09:00 AM ET

Company Participants

Lisa Foxworthy-Parker - SVP, Investor & External Relations

Christopher Blunt - Chief Executive Officer

Conor Murphy - Chief Financial Officer

Conference Call Participants

John Barnidge - Piper Sandler

Wesley Carmichael - Autonomous Research

Mark Hughes - Truist Securities

Presentation

Operator

Good morning, and welcome to F&G's First Quarter 2025 Earnings Call. [Operator Instructions] I'd now like to turn the call over to Lisa Foxworthy-Parker, Senior Vice President of Investor and External Relations. Thank you. You may begin.

Lisa Foxworthy-Parker

Thanks, operator, and welcome, everyone. I'm joined today by Chris Blunt, Chief Executive Officer; and Conor Murphy, Chief Financial Officer. Also, Wendy Young, Chief Liability Officer, will be available for Q&A.

Before we get started, I wanted to note that we have recast prior period financial results during the quarter. We have removed CLO redemption and bond prepay income from our significant items and have updated definitions for the cost of funds and flow reinsurance fee income within our ANE management view income statement.

Importantly, historical reported net earnings and adjusted net earnings, or ANE, have not changed. The recast financial results are available in our quarterly financial supplement and earnings release, as well as our Spring 2025 investor presentation.

Also, starting this quarter, we are presenting our financial results on an as-reported basis throughout our earnings materials. Therefore, these results, including ANE, ROA and ROE are no longer presented on an excluding significant items basis....

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