guaranty life be smart . take action . own your future . traded as nyse fgl industry financial services founded 1959 headquarters des moines iowa 1 u.s. area served united states key people chris littlefield ceo products life insurance annuities number of employees 200 website home.fglife.com fidelity and guaranty life insurance company provides annuities and life insurance for over 700 000 policyholders across the united states . the company was founded in 1959 and is based in des moines iowa . it was a wholly owned subsidiary of harbinger group prior to a partial initial public offering in 2013 . 2 in november 2015 fidelity was sold to chinese insurance firm anbang insurance for a fee of around 1.57 billion . 3 contents 1 history 2 business 3 corporate 4 management 5 references 6 external links history edit the company was incorporated in 1959 under the laws of maryland and commenced business in 1960 . the company was primarily formed to write individual life insurance and annuity products . until june 1 1995 the company was a wholly owned subsidiary of united states fidelity and guaranty company usf & g company a maryland domiciled property and casualty insurer . usf & g corporation a maryland domiciled insurance holding company was the company s ultimate controlling entity . effective june 1 1995 with the approval of the maryland insurance administration usf & g company declared a dividend payable to usf & g corporation consisting of all of the issued and outstanding capital stock of the company . as a result the company became a direct wholly owned subsidiary of usf & g corporation . in 1996 then ceo norman blake publicly discussed the possibility of selling the life insurance company as part of plan to grow the international operations of the property & casualty business . 4 by 1997 blake told shareholders that several large carriers had approached management to purchase the entire organization . 5 on january 20 1998 st. paul announced that it would acquire usf & g for 2.8 billion and merge both entities into a single organization . 6 on april 24 1998 as a result of the merger of its parent usf & g corporation with the st. paul companies inc. st. paul travelers an insurance holding company incorporated in the state of minnesota the company became an indirect subsidiary of st. paul companies inc. effective january 1 1999 under a plan of merger with the approval of the maryland insurance administration the company s ultimate parent usf & g corporation merged with st. paul fire and marine insurance company fire & marine a minnesota corporation . as a result of this merger the company became a direct wholly owned subsidiary of fire & marine with st. paul as its ultimate controlling entity . on september 18 2001 the company was acquired by old mutual plc old mutual a london based financial services company which was approved by the maryland insurance administration on september 21 2001 . 7 as a result of the acquisition the company became a direct wholly owned subsidiary of old mutual u.s. life holdings inc. omuslh a delaware holding company which is ultimately owned by old mutual . the listed purchase price was 635 million usd . 8 on december 31 2002 the maryland insurance administration approved a reorganization plan within the old mutual plc holding company system . old mutual plc created a new texas domiciled life insurance company omnia life insurance company inc. omnia and all of the outstanding common stock of the company was contributed to omnia by the company s parent omulsh . as a result of the reorganization the company became a direct wholly owned subsidiary of omnia . effective january 1 2007 the company s board of directors approved a resolution to amend the company s charter to change its name to om financial life insurance company . this name change was submitted and approved by the state of maryland department of assessments and taxation and the administration effective january 1 2007 . on january 16 2009 the securities and exchange commission sec issued rule 151a claiming indexed annuities should be regulated as securities and should only be sold by registered representatives . 9 a lawsuit was filed on the same day challenging the sec s ability to regulate fixed indexed annuities . legislation was also introduced in congress to exempt these annuities from securities regulation . management of om financial life insurance actively participated in industry opposition to the proposal . 10 on july 13 2010 the court of appeals for the d.c. circuit vacated rule 151a . 11 on july 21 2010 president obama signed hr 4173 dodd frank wall street reform and consumer protection act which contained a last minute amendment by senator harkin harkin amendment 12 which exempted fixed index annuities from regulation by the sec and left these products to be regulated by the state insurance departments . in early 2010 reports surfaced that old mutual had placed the u.s. insurance operations for sale . 13 on april 6 2011 old mutual announced the completion of sale of its life and annuity business to the harbinger group . 14 harbinger expressed its intention to use cash flow from the company to fund future acquisitions for the conglomerate . 15 harbinger appointed lee launer a former senior executive of metlife to run the company as ceo . 16 at that time om financial life insurance company changed its name back to fidelity & guaranty life insurance company . in august 2013 fidelity & guaranty life filed form s 1 with the u.s. securities and exchange commission expressing its intention to complete an initial public equity offering . 17 the company currently writes various types of fixed annuities and life insurance products . currently the largest product line is fixed indexed annuity fia . in calendar year 2012 fias generated approximately 95 % of total sales . see annuity us financial products and indexed annuity for description of these products . the company s national association of insurance commissioners naic number is 63274 . in 2013 the company announced a move of its headquarters to des moines iowa citing a lower cost of business and a desire to operate under a similar regulator as rival companies . 18 the company launched an initial public offering in late 2013 19 in october 2014 the company hired chris littlefield former ceo of aviva usa as president of the company . 20 the company subsequently appointed him ceo in april 2014 . 21 business edit policies are offered in every state and the district of columbia ; however in new york products are offered through a wholly owned subsidiary fidelity & guaranty life insurance company of new york . in 2012 the majority of the company s direct premiums and annuity consideration business was written in the states of california 13.15 % georgia 10.89 % texas 8.81 % florida 8.74 % pennsylvania 6.07 % michigan 5.62 % arizona 5.41 % new jersey 3.91 % ohio 3.45 % illinois 3.36 % north carolina 3.03 % missouri 1.97 % tennessee 1.85 % wisconsin 1.77 % and indiana 1.61 % . total writings of 2 199 063 661 from these 15 states account for 79.6 % of the total direct premiums and annuity consideration business written during 2012 . the company focuses on the sale of individual life insurance products and annuities which include deferred annuities fixed indexed and fixed rate annuities and immediate annuities primarily sold through independent insurance marketing organizations imos that in turn represent independent agents . the major categories of direct premiums and annuity considerations written during 2012 were individual annuities 78.5 % and universal life insurance 21.4 % . from a statutory reporting perspective the total adjusted statutory capital of fidelity & guaranty life insurance company was 949 million and 870 million at december 31 2012 and december 31 2011 respectively . fidelity & guaranty life had statutory net income of 102 million and statutory net income of 110 million for the years ended december 31 2012 and december 31 2011 respectively . as of december 31 2012 the company had more than 85 billion of insurance in force with over 16 billion in assets . the company is a wholly owned subsidiary of the investment firm harbinger group . 22 a.m. best rates the company and its subsidiaries in the very good category of b ; fitch ratings maintains a bbb rating ; and moody s investors service holds the company at a ba1 adequate position and standard & poor s rates the company at bbb . corporate edit fgl has less than 200 direct employees relying mostly on independent agents . management edit name position christopher j. littlefield chief executive officer president & director rajesh krishnan executive vice president & chief investment officer eric l. marhoun executive vice president & general counsel dennis vigneau executive vice president chief financial officer john p. o shaughnessy senior vice president chief actuary john a. phelps ii senior vice president chief distribution officer wendy j.b. young senior vice president chief risk officer rosanne boehm senior vice president human resources christopher s. fleming senior vice president operations & technology paul tyler senior vice president strategy & corporate development references edit notes http articles.baltimoresun.com 2013 11 04 business bs bz fidelity life 20131104 1 falcone harbinger group harbor east fidelity & guaranty life prices initial public offering . the wall street journal . 12 december 2013 . anbang insurance to buy fidelity & guaranty in a 1.57 billion deal.http www.reuters.com article 2015 11 09 us fgl m a anbanginsurance iduskcn0sy1g120151109 xstm8ilz4m0iul2u .99 . reuters . 9 november 2015 . external link in title help sullivan joanna 2 september 1996 . changes still ahead at usf & g . baltimore business journal . hancock jay 22 may 1997 . usf & g deflects suitors seeks buys insurer s chief plans independent course . the baltimore sun . treaster joseph b. 20 january 1998 . st. paul to pay 2.8 billion for usf & g . new york times . h old mutual buys f & g check url value help . cnnmoney . 26 april 2001 . rulison larry 26 april 2001 . st. paul cos. to sell f & g life . baltimore business journal . supra indexed annuity and certain other insurance contracts generally court vacates sec s rule 151a . lifehealthpro . 13 july 2010 . american equity investment life insurance co. et al. v. u.s. securities and exchange commission case number 09 1021 u.s. court of appeals d.c. circuit july 13 2010 . h.r. 4173 sec . 989g p. 1342 commonly referred to as the harkin amendment to the dodd frank wall street reform and consumer protection act . fortado lindsay 20 february 2010 . old mutual may sell u.s. life insurance business ft reports . bloomberg . old mutual sells u.s. life insurance unit to harbinger . new york times . 6 august 2010 . sanati cyrus 9 august 2010 . behind harbinger s deal for a life insurer . new york times . harbinger group inc. signs definitive agreement for acquisition of old mutual u.s. life holdings inc. . reuters . 7 march 2011 . aggarwal varun 29 august 2013 . harbinger s insurance unit files for 100 million ipo . reuters . http articles.baltimoresun.com 2013 11 04 business bs bz fidelity life 20131104 1 falcone harbinger group harbor east fidelity & guaranty life prices initial public offering . the wall street journal . 12 december 2013 . chris littlefield re enters des moines insurance world . the des moines register . 18 november 2014 . chris littlefield named fidelity & guaranty ceo . the des moines register . 16 january 2015 . company overview of fidelity & guaranty life insurance company . businessweek . external links edit official site harbinger group official site retrieved from https en.wikipedia.org w index.php title fidelity %