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News & Press: Industry News

Fidelity National Financial to Acquire FGL Holdings

Tuesday, February 18, 2020  
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Fidelity National Financial (FNF), the holding company for the Fidelity National Title Group, has announced that it is acquiring FGL Holding (also known as “F&G”) for $12.50 per share of common stock, representing an equity value of approximately $2.7 billion. F&G is a leading provider of annuity and life insurance products, providing deferred annuities, including fixed indexed annuity contracts and fixed rate annuity contracts, immediate annuities and indexed universal life insurance. FNF currently owns 7.9% of F&G's outstanding ordinary shares and all of F&G's Series B Preferred shares.

FNF Chairman William P. Foley, II stated: "Following the termination of the merger agreement with Stewart Information Services, the board and management diligently reviewed FNF's capital allocation strategy and determined that expanding into the annuity market through the acquisition of F&G Holdings would offer compelling benefit to our shareholders."

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851