M&A Deal Summary

CF Acquires Fidelity & Guaranty Life Insurance

On May 24, 2017, CF acquired insurance company Fidelity & Guaranty Life Insurance from Anbang Insurance Group for 1.8B USD

Acquisition Highlights
  • This is CF’s 1st transaction in the Insurance sector.
  • This is CF’s largest (disclosed) transaction.
  • This is CF’s 1st transaction in the United States.
  • This is CF’s 1st transaction in Iowa.

M&A Deal Summary
Date 2017-05-24
Target Fidelity & Guaranty Life Insurance
Sector Insurance
Buyer(s) CF
Sellers(s) Anbang Insurance Group
Deal Type Divestiture
Deal Value 1.8B USD
Advisor(s) Credit Suisse Investment Banking
Jefferies
Edmond de Rothschild Corporate Finance (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Fidelity & Guaranty Life Insurance

Des Moines, Iowa, United States
Fidelity & Guaranty Life Insurance Co. is a provider of professional and advanced life insurance and annuity products in the US market. With Anbang’s long-term, diversified global investment strategy and globalized, comprehensive financial services platform, Fidelity & Guaranty Life Insurance Company will become even more competitive in the market by providing more products and professional services to its clients.

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Buyer(S) 1

Buyer

CF

New York, New York, United States
Category Company
Sector Insurance
DESCRIPTION

CF Corp. is a provider of life insurance products. CF Corp is based in New York, New York.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Iowa) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Anbang Insurance Group

Chaoyang, China
Category Company
Founded 2004
Sector Insurance
DESCRIPTION

Anbang Insurance Group is one of the comprehensive groups companies in insurance business of China, presently provides services of property insurance, life insurance, health insurance, asset management, insurance sales agent and insurance broker.

DEAL STATS #
Overall 1 of 2
Sector (Insurance) 1 of 2
Type (Divestiture) 1 of 2
State (Iowa) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-06 Allianz Life Insurance

Seoul, South Korea

Allianz Life Insurance Co., Ltd. is a provider of life, variable life, annuity, health, stock index linked, and group accident insurance products, as well as pension products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-07 Athora Netherlands

Amstelveen, Netherlands

Athora Netherlands is a Dutch insurer that consists of a large number of well-known insurance brands: Zwitserleven, Reaal, Reaal Dier & Zorg, nowGo and the responsible asset manager ACTIAM. The company spreads its business over all the major subsectors of the insurance market, and leads the market for term life insurance products. Athora Netherlands was formed in 2014 and is based in Amstelveen, Netherlands.

Sell -
Mergr

Product

Company

Legal