Filed Under:Annuities, Fixed Indexed

Fidelity & Guaranty Life’s IPO a credit positive

Fidelity & Guaranty is on its way to Wall Street.
Fidelity & Guaranty is on its way to Wall Street.

Fidelity & Guaranty’s Life recently announced $100-million IPO is a credit positive, according to an analysis by Moody’s Investors Service.

Ann G. Perry, vice president, senior credit officer for Moody’s, writes that the move is a credit positive because it establishes a public equity market for Fidelity & Guaranty Life (FGL) and lessens its capital dependence on the parent company, the Harbinger Group Inc., which acquired Fidelity & Guaranty Life Insurance Co. (FGLIC) from Old Mutual plc three years ago for $350 million.

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Nichole Morford

Nichole Morford
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