Fidelity National Financial Spin-off (Annuities) Notes

May 16, 2023 Update

November 4, 2022 Update

As shown below the transaction is moving along with SpinCo filing a Form 10 with the SEC:

August 24, 2022 Update

Good overview of the situation.
Author argues that spin-off (annuity business) should trade at 6x earnings. With JXN and BHF at 2x to 4x, I’m skeptical.
Also, the spin-off will only be 15%. So not sure there will be much value unlock.

March 18, 2022 Update

Fidelity National owns F&G Annuities & Life and is spinning out 15% of their holding
The spin is expected to take place in Q3 2022