Title Insurer Hopes to Complete FGL Deal Next Week
FGL could be part of Fidelity National as early as Monday.
Fidelity National Inc. says it hopes to complete the previously announced acquisition of FGL Holdings, the parent of Fidelity & Guaranty Life Insurance Company, Monday.
The only significant remaining obstacle is an FGL shareholder approval vote scheduled for Friday, Fidelity National announced Tuesday.
(Related: Title Insurer Says F&G Deal Will Make It Stronger)
Fidelity National is a Jacksonville, Florida-based title insurer.
FGL is a holding company based in George Town, Cayman Islands. Fidelity & Guaranty has its main operating offices in Des Moines, Iowa.
Fidelity National says acquiring FGL should increase its earnings stability. It says it now has all of the regulatory approvals and clearances it needs to close on FGL.
Fidelity & Guaranty was founded in 1959, as a subsidiary of U.S. Fidelity and Guaranty Co., a property and casualty insurer. It became a stand-alone company, through a public stock offering, in 2013.
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