F&G Annuities & Life, Inc. (NYSE:FG) Q4 2022 Results Conference Call February 23, 2023 9:00 AM ET
Company Participants
Lisa Foxworthy-Parker - IR
Chris Blunt - CEO
Wendy Young - CFO
Conference Call Participants
Andrew Kligerman - Credit Suisse
A.J. Hayes - Stephens
Mark Hughes - Truist
Operator
Greetings, and welcome to the F&G Annuities and Life Fourth Quarter and Full Year 2022 Earnings Conference Call [Operator Instructions]. As a reminder, this conference has been recorded.
It is now my pleasure to introduce your host, Lisa Foxworthy-Parker, Senior President, Investor Relations and External Relations. Thank you. You may begin.
Lisa Foxworthy-Parker
Great. Thanks operator and welcome, everyone, to F&G's Fourth Quarter and Full Year 2022 Earnings Call. Joining me today are Chris Blunt, Chief Executive Officer; and Wendy Young, Chief Financial Officer. We look forward to addressing your questions following our prepared remarks. Today's earnings call may include forward-looking statements and projections under the Private Securities Litigation Reform Act, which do not guarantee future events or performance. We do not undertake any duty to revise or update such statements to reflect new information, subsequent events or changes in strategy. Please refer to our most recent SEC filings for a discussion of the factors that could cause actual results to differ materially from those expressed or implied. This morning's discussion also includes non-GAAP financial measures that we believe may be meaningful to investors. Non-GAAP measures have been reconciled to GAAP where required in accordance with SEC rules within our earnings release, financial supplement and investor presentation, all of which are available on the company's website. Today's call is being recorded and will be available for webcast replay at fglife.com. It will also be available through telephone replay beginning today at 1:00 PM. Eastern Time through March 9, 2023. And now I'll turn the call over to our CEO, Chris Blunt.
Chris Blunt
Good morning and thanks for joining us today. We're proud to have reached a milestone in the quarter by becoming a publicly listed company. I'd like to start by thanking our team, our parent Fidelity National Financial and our partners for all of their contributions to achieve F&G's December 1 listing on the New York Stock Exchange. For those new to our story, the purpose of this public listing is to provide for a sum of the parts valuation. That is to provide recognition of F&G's value creation as a stand-alone public company and in turn, to unlock the value of the 85% majority ownership in F&G held by our parent FNF. We view this as a win-win for F&G. It allows investors to invest directly in F&G and creates new optionality for F&G, as we gain access to the public markets over time, while continuing to benefit from FNF's majority ownership. FNF use this as a competitive advantage as F&G's primarily spread-based business provides a steady and growing source of earnings that will benefit FNF over time as well as a countercyclical business model to their title business. I could not be more pleased with our overall results in this inaugural quarter following F&G's transition back to a public company. F&G is well positioned for growth through its multichannel new business platform. And our entire team is working hard every day to create long-term shareholder value.