News Flash | Ares Management Announces Agreement By Aspida To Acquire F&G Reinsurance From FGL Holdings

Sept 30 (Reuters) - Ares Management Corp::ARES MANAGEMENT CORPORATION ANNOUNCES AGREEMENT BY ASPIDA TO ACQUIRE F&G REINSURANCE LTD FROM FGL HOLDINGS.ARES MANAGEMENT CORP - ASPIDA RE TO ENTER INTO ONGOING STRATEGIC FLOW REINSURANCE AGREEMENT WITH F&G.ARES MANAGEMENT CORP - FOLLOWING CLOSING, COMPANY EXPECTS TO CONTINUE TO OPERATE AS A REINSURANCE COMPANY UNDER ASPIDA BRAND.ARES MANAGEMENT CORP - TERMS WERE NOT DISCLOSED, BUT CONSIDERATION WILL BE ALL CASH.ARES MANAGEMENT CORP - TRANSACTION IS EXPECTED TO BE FINANCIALLY ACCRETIVE.ARES MANAGEMENT CORP - CONCURRENT WITH CLOSING OF TRANSACTION, ASPIDA RE WILL RETAIN MEMBERS OF COMPANY'S MANAGEMENT TEAM.