Harbinger Group Inc. Announces Today the Closing of a Significant Coinsurance Transaction With Wilton Reassurance Company and the Termination of Previous Reserve Financing Facility Agreement

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Harbinger Group Inc. (NYSE: HRG) today announced that its subsidiary, Fidelity & Guaranty Life Insurance Company has completed the reinsurance transaction with Wilton Reassurance Company replacing reinsurance previously provided by Raven Reinsurance Company, a wholly owned subsidiary of FGL. On September 9, 2011, the Company announced an amendment to an existing reinsurance agreement with Wilton accelerating the closing date to October 31, 2011 or such earlier date as the parties may agree.

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