What a brutal six months it’s been for F&G Annuities & Life. The stock has dropped 22.7% and now trades at $32.14, rattling many shareholders. This was partly due to its softer quarterly results and might have investors contemplating their next move.
Following the pullback, is now an opportune time to buy FG? Find out in our full research report, it’s free.
Why Are We Positive On FG?
Founded in 1959 and serving approximately 677,000 policyholders who rely on its financial protection products, F&G Annuities & Life (NYSE:FG) provides fixed annuities, life insurance, and pension risk transfer solutions to retail and institutional clients.
1. Net Premiums Earned Skyrockets, Fueling Growth Opportunities
Markets consistently prioritize net premiums earned growth over investment and fee income, recognizing its superior quality as a core indicator of the company’s underwriting success and market penetration.
F&G Annuities & Life’s net premiums earned has grown at a 33.9% annualized rate over the last two years, much better than the broader insurance industry.
F&G Annuities & Life Quarterly Net Premiums Earned 2. Growing BVPS Reflects Strong Asset Base
In the insurance industry, book value per share (BVPS) provides a clear picture of shareholder value, as it represents the total equity backing a company’s insurance operations and growth initiatives.
F&G Annuities & Life’s BVPS increased by 71% annually over the last five years, and although its annualized growth has recently decelerated to 28.3% over the last two years (from $19.66 to $32.39 per share), we still think its performance was incredible.
F&G Annuities & Life Quarterly Book Value per Share 3. Projected BVPS Growth Is Remarkable
The key to book value per share (BVPS) growth is an insurer’s ability to earn underwriting profits while generating strong returns on its float - Warren Buffet’s secret sauce.
Over the next 12 months, Consensus estimates call for F&G Annuities & Life’s BVPS to grow by 50.3% to $47.27, elite growth rate.
F&G Annuities & Life Quarterly Book Value per Share Final Judgment
These are just a few reasons why we're bullish on F&G Annuities & Life. With the recent decline, the stock trades at 1× forward P/B (or $32.14 per share). Is now a good time to initiate a position? See for yourself in our in-depth research report, it’s free.
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