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...They were also behind a blank-cheque acquisition company that bought the life insurer Fidelity & Guaranty Life for $1.8bn in 2017....
...The pair had previously joined forces to create a blank-cheque acquisition company that bought the life insurer Fidelity & Guaranty Life for $1.8bn in 2017....
...the insurance company’s chief executive....
...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...
...Last May private equity group Blackstone joined the fray, joining a consortium that bought Fidelity & Guaranty Life for $1.8bn....
...Last year, an investment group led by former Blackstone executive Chinh Chu acquired Fidelity and Guaranty Life, another fixed annuities business, in a transaction that will see Blackstone manage FGL’s assets...
...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...
...They also may have support from other investors, Aberdeen Standard Investments and Fidelity International....
...The private equity group has teamed up with veteran former Blackstone dealmaker Chinh Chu, insurance executive Bill Foley and US mortgage group Fidelity National to acquire FGL, an Iowa-based company that...
...Questions about the ultimate ownership of Anbang Insurance, one of China’s most acquisitive groups, are once again causing trouble for the company and one of its US deals....
...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....
...& Guaranty Life and hotels group Starwood....
...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....
...But the bigger lesson is that tech companies flush with cash and momentum (think Amazon buying Whole Foods) have all sorts of freedom to experiment and make big bets....
...It has been linked with a possible purchase of the US insurer Fidelity & Guaranty Life, and is also seeking to take on risks from pension plans in the US....
...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, Anbang dropped a request for approval of its $1.6bn purchase of US insurer Fidelity & Guaranty Life following questions from regulators....
...The concerns come as Chinese insurer Anbang has faced struggles in its bid to buy Fidelity & Guaranty Life....
...The company, best known for buying the Waldorf Astoria in New York, allowed the terms of its $1.57bn buyout of US insurer Fidelity & Guaranty Life to lapse this week, giving some industry watchers the sense...
...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....
...However, some analysts remain concerned about regulatory risk as Chinese insurer Anbang’s deal to buy Fidelity & Guaranty Life has come up against regulatory hurdles....
...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....
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