Flexible pipes are widely used in deepwater oil and gas exploration, and End Fittings(EF) is used to connect the pipe with floating platform. As a key part of flexible pipe, there are numerous challenges in failure propagation and connection performance of EF. In this paper, the finite element model of the anchorage system is established by ABAQUS to analyze the stresses of the tensile armor and epoxy resin at different load levels. Meanwhile, the three-stage failure propagation of the anchorage system during axial load increase was investigated. The results explain the failure process and enable the prediction of the anchorage system connection performance.