Fundamental Global reports FY 2023 net income of $2.1M vs loss in 2022; premiums up 28%

FG Nexus Inc.

Net income attributable to common shareholders $2.1M ($0.21 dil EPS) vs net loss $0.7M ($0.09 loss) in 2022.
Net reinsurance premiums earned $16.6M for 2023, up from $13.0M in 2022; Q4 premiums $5.1M vs $3.2M.
Net investment income $9.8M in 2023, up from $6.8M in 2022, driven by iCoreConnect business combination gains.
Paid $1.8M ($2.00/share) dividends on 8% Series A Preferred Stock for 2023.
Total shareholders' equity $42.5M at Dec 31, 2023, up $5.2M from $37.3M at Dec 31, 2022.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FG Nexus Inc. reported fourth quarter and full year ended December 31, 2023 results: net income Net income attributable to common shareholders for the year ended December 31, 2023, was $2.1 million, or $0.21 per full.

Period: fourth quarter and full year ended December 31, 2023
Net income: Net income attributable to common shareholders for the year ended December 31, 2023, was $2.1 million, or $0.21 per full
Result: reported results

Exact text from the filing

Net income attributable to common shareholders for the year ended December 31, 2023, was $2.1 million, or $0.21 per fully diluted share

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FG Nexus Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-009953

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