Fidelity & Guaranty (FGL) Tops Q2 EPS by 17c
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Fidelity & Guaranty (NYSE: FGL) reported Q2 EPS of $0.73, $0.17 better than the analyst estimate of $0.56.
"We had a good quarter and delivered significant increases in profits, assets under management and net investment spreads compared to last year," said Chris Littlefield, President and CEO of FGL. "Our FIA sales were down against a record quarter last year primarily as a result of our pricing discipline and prudent capital management in the face of what has been an intensely competitive environment. However, our efforts to continue to grow our IUL business with expanded distribution has been successful with IUL sales up significantly over last year. We are continuing to work on closing our pending merger with Anbang and received clearance for the transaction from the Committee on Foreign Investment in the United States during the quarter. We are progressing the remaining regulatory approvals and currently expect to be in a position to close the transaction during the third calendar quarter."
For earnings history and earnings-related data on Fidelity & Guaranty (FGL) click here.
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