Macquarie Downgrades Fidelity & Guaranty Life (FGL) to Neutral

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Go back to Macquarie Downgrades Fidelity & Guaranty Life (FGL) to Neutral

Anbang Insurance Group to acquire Fidelity & Guaranty Life

November 9, 2015 7:30 AM EST

BEIJING and DES MOINES, Iowa, Nov. 9, 2015 /PRNewswire/ -- 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... More