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F&G’s fixed indexed annuity sales up 31% year over year


F&G, a provider of annuities and life insurance based in Des Moines, reported $1.6 billion in total annuity sales in the second quarter, an 80% jump in year-over-year sales and a 9% increase from the first quarter. That included fixed indexed annuity sales of $1.1 billion in the second quarter, up 31% year over year and 8% over the sequential quarter. Net earnings attributable to common shareholders were $82 million for the second quarter, including a $6 million gain from discontinued operations and $16 million net favorable mark-to-market and other items that are excluded from adjusted net earnings. As a result of acquisition accounting,  financial results for periods after June 1, 2020, are generally not comparable to the results of prior periods. F&G became a subsidiary of Fidelity National Financial, one of the largest U.S. title companies, last year. William Foley II, FNF’s chairman. said F&G’s sales results further validate FNF’s decision to acquire the company. “We are building a company that has a financial model designed to deliver earnings and cash flow through changing market environments,” Foley said in an earnings release. “One year in, we can already see the early signs of our success and I would like to thank all of our employees for their hard work and dedication for without their efforts this would not be possible.”   

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