Basis of Presentation FGL Holdings (the Company, formerly known as CF Corporation (NASDAQ: CFCO) (CF Corp) and its related entities (CF Entities)), a Cayman Islands exempted company, was originally incorporated in the Cayman Islands on February 26, 2016 as a Special Purpose Acquisition Company (SPAC). CF Corp formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more target businesses. Prior to November 30, 2017, CF Corp. was a shell company with no operations. On November 30, 2017, CF Corp. consummated the acquisition of Fidelity &amp; Guaranty Life ("FGL"), a Delaware corporation, and its subsidiaries, pursuant to the Agreement and Plan of Merger, dated as of May 24, 2017 (the FGL Merger Agreement). The transactions contemplated by the FGL Merger Agreement are referred to herein as the Business Combination. Dollar amounts in the accompanying sections are presented in millions, unless otherwise noted. Pursuant to the FGL Merger Agreement, except for shares specified in the FGL Merger Agreement, each issued and outstanding share of common stock of FGL was automatically canceled and converted into the right to receive $31.10 in cash, without interest and less any required withholding taxes (the Merger Consideration). Accordingly, CF Corp acquired FGL for a total of approximately $2 billion in cash, plus the assumption of $405 of existing debt. In addition to the Business Combination, on November 30, 2017, CF Entities bought all of the issued and outstanding shares of Front Street Re Cayman Ltd. (FSRC) and F&amp;G Reinsurance, Ltd. (formerly known as Front Street Re Ltd., and, together with FSRC herein referred to as the "FSR Companies") from Front Street Re (Delaware) Ltd. (FSRD), a direct wholly owned subsidiary of HRG Group, Inc. (HRG; NYSE: HRG), pursuant to the Share Purchase Agreement, for cash consideration of $65 , subject to certain adjustments. As a result of the Business Combination, for accounting purposes, FGL Holdings is the acquirer and FGL is the acquired party and accounting predecessor. Our financial statement presentation includes the financial statements of FGL and its subsidiaries as Predecessor for the periods prior to the completion of the Business Combination and FGL Holdings, including the consolidation of FGL and its subsidiaries and the FSR Companies, as "Successor" for periods from and after the Closing Date. FGL Holdings was determined to be the Successor company as it is the surviving company organized and existing under the laws of the United States of America, any State of the United States, the District of Columbia or any territory thereof (and in the case of the Company, Bermuda or the Cayman Islands). Prior to the acquisition, FGL Holdings reported under a fiscal year end of December 31, and the Predecessor companies reported under a fiscal year end of September 30. Subsequent to the acquisition, the Successor reports under a fiscal year end of December 31. On December 1, 2017, upon completion of the acquisitions, FGL Holdings began trading ordinary shares and warrants on the New York Stock Exchange ("NYSE") under the symbols FG and FG WS, respectively. For additional info related to the Business Combination please refer to Item 1. Business" within FGL Holdings' Annual Report on Form 10-K, for the period ended December 31, 2017 (2017 Form 10-K). The accompanying unaudited condensed consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP) and with the instructions for the Securities and Exchange Commission (SEC) Quarterly Report on Form 10-Q, including Article 10 of Regulation S-X, for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. Therefore, the information contained in the Notes to Consolidated Financial Statements included in the Company's 2017 Form 10-K, should be read in connection with the reading of these interim unaudited condensed consolidated financial statements. The Company markets products through its wholly-owned insurance subsidiaries, Fidelity &amp; Guaranty Life Insurance Company (FGL Insurance) and Fidelity &amp; Guaranty Life Insurance Company of New York (FGL NY Insurance), which together are licensed in all fifty states and the District of Columbia. In the opinion of management, these statements include all normal recurring adjustments necessary for a fair presentation of the Companys results. Operating results for the three and nine months ended September 30, 2018 , are not necessarily indicative of the results that may be expected for the full year ending December 31, 2018. Amounts reclassified out of other comprehensive income are reflected in net investment gains in the unaudited Condensed Consolidated Statements of Operations.