Leading market position in the U.S. title insurance industry Strong capital and earnings Exposure to mortgage volume volatility due to the monoline nature of the business S&P Global Ratings' ratings on Fidelity National Financial Inc. (FNFI) and its title insurance subsidiaries (collectively, Fidelity National) reflects reflect the group's strong business risk profile (BRP) and strong financial risk profile (FRP), resulting in a split anchor of 'a/a-'. We assigned the former rating based on the group's leading market positon and operating performance metrics. Fidelity National's market share in the title insurance industry has been relatively stable in the 30%-35% range of premiums written and escrow fees over the past five years. Although it has the highest proportion of premiums from its
