Aug 09, 2023 / 01:00PM GMT
Operator
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Christopher Owsley Blunt - F&G Annuities & Life, Inc. - President, CEO & Director
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returns. Our first half results reflect these established and newer capital-light strategies, and we've generated record gross sales whilst maintaining pricing discipline. Our gross sales were $6.3 billion in the first half, up 11% over the prior year. We're on track with our stated goal of growing annual gross sales at a double-digit clip. And with net sales of $4.4 billion in the first half, we are on track with our stated goal of managing net sales retained above the $6 billion to $7 billion annual level that continues to grow our retained AUM.
Next, looking at the quarter's results more closely. We reported gross sales of $3 billion in the second quarter, a decrease of 3% from the prior year quarter due to lumpy institutional sales, with a 9% decrease over the sequential first quarter, which reflected a record level of sales, boosted by the effects of market volatility and the U.S. regional bank crisis. Retail
Q2 2023 F&G Annuities & Life Inc Earnings Call Transcript
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