Harbinger's insurance unit files for $100M IPO

Harbinger Group (HRG) is planning a $100M IPO for its Fidelity & Guaranty Life insurance unit, only days after agreeing to pay an $18M civil settlement with securities regulators.

The move comes as insurance companies with ties to hedge funds and P-E firms have been growing rapidly, and some state regulators are considering potential new rules aimed at insuring that operating units are well capitalized, which could make it harder to pay out dividends.

Harbinger Capital, run by Phil Falcone, and its affiliates are majority owners of HRG.

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