We have offered leading-edge life insurance and annuity products for over 50 years through the growing independent agent market. In the late 1950’s, our parent company USF&G identified a need for innovative life insurance and annuity products that could be distributed through its property & casualty agency system. The company launched Fidelity And Guaranty Life Insurance Company in 1959 to achieve that mission.
We introduced our first product, traditional term life insurance, in 1960. Over the following years, we added additional life and annuity products to our portfolio. We consistently built our policyholder base during this period by building products offered through respected independent licensed agents.
The U.S. property & casualty business rapidly consolidated in the 1990s. Our parent company merged with another P&C carrier, the St. Paul Companies. In 1998, we launched our first fixed indexed annuity product. We ranked number three in the industry for overall fixed indexed annuity sales that year*. We subsequently launched additional FIAs and built a strong reputation as a pioneer in this space. Based on our success in the indexed insurance market, a large UK-based carrier, Old Mutual acquired Fidelity And Guaranty Life Insurance Company in 2001. The carrier wanted to use our company as the cornerstone for their expansion into the U.S. market. We continued to strengthen our product portfolio and launched five new FIAs under their stewardship as OM Financial Life Insurance Company. We also introduced our first fixed indexed universal life product.
In 2011, HRG Group, Inc. purchased the company as the foundation of its insurance and financial services group and we became Fidelity & Guaranty Life Insurance Company. Since then, we have launched four new FIAs. We’ve also strengthened our life insurance portfolio by introducing two new indexed universal life products. In December 2013, Fidelity & Guaranty Life, completed an initial public offering. The company now publicly trades on the New York Stock Exchange (NYSE: FGL).
*Advantage Group, 2008 (now Wink, Inc.)