Anbang Insurance Group to acquire Fidelity & Guaranty Life

Macquarie Downgrades Fidelity & Guaranty Life (FGL) to Neutral

Macquarie downgraded Fidelity & Guaranty Life (NYSE: FGL) from Outperform to Neutral.

For an analyst ratings summary and ratings history on Fidelity & Guaranty Life click here. For more ratings news on Fidelity & Guaranty Life click here.

Shares of Fidelity & Guaranty Life closed at $25.79 yesterday.

Fitch Places Fidelity & Guaranty (FGL) Ratings on 'Watch Evolving' Amid Takeover Announcement

Fitch Ratings has placed the ratings assigned to Fidelity & Guaranty Life (NYSE: FGL) and subsidiaries on Rating Watch Evolving. The affected ratings include the 'BBB' IFS ratings for the life insurance subsidiaries, Fidelity & Guaranty Life Insurance Co. and Fidelity & Guaranty Life Insurance Co. of New York, the 'BB' IDR rating assigned to Fidelity & Guaranty Life Holdings, Inc. (FGLH), and the 'BB-' senior unsecured note rating.

KEY RATING DRIVERS

The rating action follows the announcement that Fidelity & Guaranty Life and its primary life insurance subsidiaries (collectively referred to as F&G Life) have... More

Anbang Insurance to Acquire Fidelity & Guaranty Life (FGL) for $26.80/Share

Anbang Insurance Group Co., Ltd. ("Anbang" or "the Company"), a leading global comprehensive insurance group based in Beijing, China, and Fidelity & Guaranty Life (NYSE: FGL) ("FGL"), a leading provider of annuities and life insurance in the U.S., jointly announced that they have entered into a definitive merger agreement on November 8, 2015 pursuant to which Anbang will acquire FGL for $26.80 per share.

The transaction will make Anbang one of the largest insurers by market share in fixed indexed annuity products in the U.S. It is expected that FGL's solid life and fixed... More