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Stock Market & Financial Investment News

News Breaks
December 17, 2012
16:31 EDTHRGHGI receives approval for reinsurance treaty between Fidelity and Guaranty Life
Harbinger Group announced that its wholly-owned subsidiary, Fidelity & Guaranty Life Insurance Company, has received approval from the Maryland Insurance Administration to enter into a reinsurance treaty with Front Street Re, also a wholly-owned subsidiary of HGI. Under the terms of the reinsurance treaty, Fidelity & Guaranty Life will cede approximately 10%, or approximately $1.5B of liabilities, of its annuity business to Front Street Re. Fidelity & Guaranty Life and Front Street Re expect to enter into this transaction prior to the end of 2012.
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