Hints and tips:
...The market capitalisation of rival Apollo has been eclipsed by that of its insurance offshoot Athene, while Blackstone made an early move on the sector last year with its acquisition of Fidelity & Guaranty...
...Blackstone, the world’s biggest private equity manager, last year helped finance a $2bn deal to buy Fidelity & Guaranty Life alongside Chinh Chu, a longtime Blackstone executive who had struck out on his...
...After more than a year of talks, Fidelity Guaranty & Life has terminated Chinese insurer Anbang’s $1.6bn merger agreement....
...US insurer Fidelity & Guaranty Life said on Monday that it is officially terminating its merger agreement with Anbang Insurance, the acquisitive Chinese company whose $14bn attempt to buy Starwood Hotel...
...Fidelity & Guaranty Life formally terminated the agreement with Anbang in April this year. The true shareholdings of unlisted Anbang are murky and its backers have never been fully revealed....
...& Guaranty Life and hotels group Starwood....
...Last month, Anbang’s deal to acquire retirement annuity business Fidelity and Guaranty Life for $1.6bn fell through as regulators were not comfortable with the buyer’s opaque ownership structure....
...Mr Wu, however, never fully addressed questions about Anbang’s murky ownership structure, which forced it to withdraw a bid for Fidelity and Guaranty Life in the US....
...In the past year, the company has failed to complete high-profile takeover bids for Starwood, the US hotels group, and Fidelity & Guaranty Life, a US insurer....
...On Wednesday, Blackstone struck again by backing the $1.8bn buyout of Fidelity and Guaranty Life, a retirement annuity provider that is benefiting from America’s ageing population....
...In June, it dropped an approval application for a proposed $1.57bn buyout of Fidelity & Guaranty Life in the US after New York’s Department of Financial Services asked for more information from Anbang....
...Questions from a US regulator have prompted Anbang Insurance to drop an application for approval of its $1.57bn buyout of Fidelity & Guaranty Life, the latest regulatory hurdle faced by the Chinese company...
...Meanwhile, Anbang’s $1.57bn offer for life insurer Fidelity & Guaranty Life is still pending approval from regulators in the US states of Iowa and New York, as well as from the CIRC....
...Similarly, the Chinese group has indicated that it plans to keep the incumbent management team in place both at Fidelity & Guaranty Life, the Iowa-based life and pensions company that it is buying for $1.6bn...
...The latest include the $6.5bn bid for Strategic Hotels and Resorts, the $1.6bn acquisition of US insurer Fidelity & Guaranty Life, and $1bn for a 63 per cent stake in Tong Yang Life Insurance of South Korea...
...Since then its dealmaking has included the $1.6bn acquisition of US insurer Fidelity & Guaranty Life and $1bn for a 63 per cent stake in Tongyang Life Insurance of South Korea....
...Then, in May, the company withdrew a regulatory application for its $1.57bn acquisition of Fidelity & Guaranty Life after a US regulator asked for more information from the buyer....
...This propelled it to first place among insurers, outstripping the likes of China Life and the People’s Insurance Co of China, even though they far eclipse it in terms of premiums....
...Emphasis ours: There have been a number of recent reports about an exodus of employees from A.I.G., and the role of C.V. Starr & Co., Inc....
...Rowe Price and Fidelity, which offer mutual funds that adjust asset allocations as a person gets older, may also see greater demand....
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