Summary: Fidelity National Financial Inc. And Subsidiaries

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 direct distribution channel than any other title insurer we rate, management has proven highly successful in proactively managing its operations throughout the mortgage cycle. Evidence of

...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 direct distribution channel than any other title insurer we rate, management has proven highly successful in proactively managing its operations throughout the mortgage cycle. Evidence of this success are average return on revenue (ROR) and combined ratios over the past five years that lead the industry. The group's capital adequacy has consistently been redundant at least...

Summary