SEC Filings
8-K | |
HRG GROUP, INC. filed this Form 8-K on 11/22/2016 | |
Entire Document |
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7
Insurance Segment
Our reported Insurance
segment only reflects
the results of Front
Street, our reinsurance
business
Our discontinued
operation, Fidelity &
Guaranty Life, reported
very solid 4th quarter
and full year 2016
results
Insurance segment:
—At Front Street, net book value increased to more than $112 million
FGL business:
—Management team continues to maintain its focus on executing the strategy
—37% increase in adjusted operating income as compared to 2015
—$2.5 billion in annuity sales in 2016
—Overall sales up nearly 40% from 4Q15; core fixed indexed annuities up 13.7% from
4Q15
—Average assets under management increased 7% in 4Q16 to $19.4 billion
—Average earned yield of 4.90% in the quarter
—Net investment income up 6.7% from 4Q15, and up 8.5% for the full year
—Net investment spreads across all product lines increased 7 basis points from 4Q15
—Average NAIC rating remains approximately 1.5
—FGL’s GAAP book value, excluding AOCI, increased 5.7% to $1.50 billion from 4Q15
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