Fidelity National Aims to Be an Annuity Market Giant
February 12, 2020 by Allison Bell
Fidelity National Financial Inc. may be about to become a major player in the U.S. annuity market.
The Jacksonville, Florida-based title insurer has agreed to pay $12.50 per share, or a total of $2.7 billion in cash and Fidelity National stock, for FGL Holdings — the Des Moines, Iowa-based company that owns Fidelity & Guaranty Life Insurance Company.
The deal agreement calls for Fidelity National to leave FGL’s headquarters in Des Moines, with the current management team in place, and with an arm of Blackstone continuing to serve as the company’s investment manager.