M&A Deal Summary

Old Mutual Acquires Fidelity and Guaranty Life Insurance

On April 26, 2001, Old Mutual acquired insurance company Fidelity and Guaranty Life Insurance from The St. Paul for 635M USD

Acquisition Highlights
  • This is Old Mutual’s 2nd transaction in the Insurance sector.
  • This is Old Mutual’s 3rd largest (disclosed) transaction.
  • This is Old Mutual’s 4th transaction in the United States.

M&A Deal Summary
Date 2001-04-26
Target Fidelity and Guaranty Life Insurance
Sector Insurance
Buyer(s) Old Mutual
Sellers(s) The St. Paul
Deal Type Divestiture
Deal Value 635M USD

Target

Fidelity and Guaranty Life Insurance

United States
Fidelity and Guaranty Life Insurance Co. is a fast growing provider of fixed interest based retirement and life assurance products. F&G Life distributes its products primarily through independent agent networks known as Master General Agents ("MGAs"). F&G Life had $5 billion of assets under management at 31 December 2000.

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Buyer(S) 1

Buyer

Old Mutual

Pinelands, United Kingdom

website

Category Company
Founded 1845
Sector Financial Services
Revenue 13.6B GBP (2015)
DESCRIPTION

Old Mutual Ltd. is an international financial services company with expanding operations in life assurance, asset management, banking, and general insuarnce. Old Mutual was formed in 1845 and is based in Pinelands, South Africa.

DEAL STATS #
Overall 4 of 8
Sector (Insurance) 2 of 4
Type (Divestiture) 2 of 2
Country (United States) 4 of 4
Year (2001) 3 of 3
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-04-19 Fleming Offshore Banking

United States

Fleming Offshore Banking is a provider of offshore banking, investment and fiduciary services for the benefit of local and international high net worth clients.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-04-27 Pell Rudman & Co

Boston, Massachusetts, United States

Pell Rudman & Co, Inc. is a provider of asset management services to high net worth individuals, families and foundations and endowments.

Sell $172M

Seller(S) 1

SELLER

The St. Paul

Saint Paul,, Minnesota, United States

website

Category Company
Founded 1853
Sector Insurance
Employees9,300
DESCRIPTION

The St. Paul Companies, Inc. provides commercial property, casualty, and liability insurance products and services.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2001) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-08-31 Australia Pacific Professional Indemnity Insurance co.

Australia

Australia Pacific Professional Indemnity Insurance co., Ltd. is an underwriting agency with an experience in providing professional indemnity insurance.

Buy -
Mergr

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