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Re: Enterprising Investor post# 10

Tuesday, 05/31/2016 8:54:39 AM

Tuesday, May 31, 2016 8:54:39 AM

Post# of 31
Regulatory delays continue (5/31/16)

As previously announced, on November 8, 2015, Fidelity & Guaranty Life (the “Company”), Anbang Insurance Group Co., Ltd. (“Anbang”) and certain of their related entities entered into a definitive merger agreement (such merger, the “Merger”). Anbang has notified the Company that it plans to refile its insurance regulatory change of control application with respect to the Merger with the New York Department of Financial Services (the “NY Application”) following the withdrawal of such application by Anbang on May 27, 2016. The withdrawal of the NY Application was made without prejudice to Anbang’s ability to refile the NY Application and after discussion with the New York Department of Financial Services. The Company expects that Anbang and its subsidiaries will refile the NY Application in the near future. Anbang also continues to work with the Iowa Insurance Division to secure regulatory approval for the Merger. The parties are committed to securing the remaining regulatory approvals and seek to close the Merger as expeditiously as possible, however, the closing of the Merger, and the timing thereof, is subject to the regulatory review and approval process.


http://www.sec.gov/Archives/edgar/data/1585064/000158506416000089/fglform8-knydfs2016x05x31.htm

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