Net earnings attributable to F&G decreased to $265 million in 2025 from $639 million in 2024, following a net loss of $(58) million in 2023. Adjusted net earnings attributable to F&G common shareholders were $482 million in 2025, down from $546 million in 2024, but up from $335 million in 2023. Assets Under Management (AUM) grew to $57.6 billion as of December 31, 2025, representing a 7% annual increase and a 17% compound annual growth rate since 2019. Gross sales for 2025 were $14.6 billion, a modest decrease from $15.262 billion in 2024, but higher than $13.153 billion in 2023. Net sales for 2025 were $10.029 billion, compared to $10.571 billion in 2024 and $9.238 billion in 2023. FGL Insurance's estimated U.S. Risk-Based Capital (RBC) ratio was approximately 430% as of December 31, 2025, exceeding the target of 400%. Investment income from alternative investments in 2025 was $278 million below management's long-term expected return of approximately 10%. The company completed a public offering of 8,000,000 shares of common stock on March 24, 2025, raising net proceeds of $269 million. F&G redeemed $300 million of its 5.50% Senior Notes on February 1, 2025, and issued $375 million of 7.300% Junior Subordinated Notes due 2065 on January 13, 2025. Strategic acquisitions in 2024 included a 70% majority stake in Roar Joint Venture, LLC (January 2, 2024) and a 100% ownership stake in PALH, LLC (July 18, 2024). A new strategic partnership with a reinsurance vehicle backed by Blackstone-managed funds was launched, effective August 1, 2025, with approximately $1 billion in anticipated capital commitments. Fidelity National Financial, Inc. (FNF) distributed approximately 12% of F&G common stock on December 31, 2025, retaining approximately 70% ownership. The company expanded its product and distribution capabilities from one primary channel to five, and from one primary product to six, including entry into the RILA markets in early 2024.