FIDELITY NATIONAL FINANCIAL ACQUIRES ALLFIRST TITLE INSURANCE AGENCY

Rhea-AI Summary

Fidelity National Financial (NYSE: FNF) announced the acquisition of AllFirst Title Insurance Agency, which includes several regional brands like FirsTitle and Excel Title Group. This acquisition enhances FNF's presence in Texas, Oklahoma, New Mexico, and Arkansas, expanding its service capabilities across 121 counties. CEO Mike Nolan emphasized the strategic value of the acquisition, highlighting the addition of strong management and immediate revenue streams. AllFirst will continue operating under its established brands, with its senior leadership tasked with further growth and market share expansion.

Positive

• Acquisition expands FNF's footprint in four states: Texas, Oklahoma, New Mexico, and Arkansas.
• AllFirst brings strong regional brands and management talent to FNF.
• Immediate revenue boost from AllFirst's established operations.

Negative

• None.

JACKSONVILLE, Fla., Aug. 16, 2022 /PRNewswire/ -- Fidelity National Financial, Inc. (NYSE: FNF), a leading provider of title and transaction services to the real estate and mortgage industries, announced the acquisition of AllFirst Title Insurance Agency and its various regional brands.

AllFirst and its portfolio brands, FirsTitle, Excel Title Group, Allegiance Title Company, Guaranty Title, Smith Brothers Abstract, Aggieland Title Company, and Guaranty Title New Mexico provide title examination, title plant, abstract, and settlement services for residential, commercial, farm and ranch sales, and energy projects in 121 counties throughout Texas, Oklahoma, New Mexico, and Arkansas.

"We are excited to bring AllFirst and its portfolio of strong regional brands into the FNF family of title companies to continue expanding our leadership position in the industry through our multiple brand strategy," said Mike Nolan, CEO, Fidelity National Financial.  "This is a significant acquisition of an elite, well-operated, fast growing group of title companies that brings management talent and immediate revenue to FNF in markets that further expand our national footprint. Luke Strawn, the entire talented AllFirst senior leadership team, and all 500+ AllFirst employees have done an incredible job growing a portfolio of title brands with regional strength, robust title services, title automation and data capabilities, and long-term growth potential - a perfect fit within FNF."

"Everyone at AllFirst is thrilled to become part of the leading family of title companies in the industry," said Luke Strawn, CEO, AllFirst. "With a long history of strategic acquisitions that capitalize on the strength of local brands while leveraging the collective strength, data and technology capabilities, and financial strength, we felt there was no better fit or future for our company and employees than to become part of the FNF family of title companies."

The AllFirst portfolio of companies will continue to operate and service local and regional customers through their various brands. AllFirst senior management will continue to lead these brands with the charter to continue the rapid expansion and market share growth in their respective markets and regions. Luke Strawn will now report to Joe Grealish, President, Eastern Operations, Fidelity National Financial and will move into a Regional Management role, responsible for the AllFirst operations.

About Fidelity National Financial, Inc.

Fidelity National Financial, Inc. (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title and National Title of New York - that collectively issue more title insurance policies than any other title company in the United States. More information about FNF can be found at fnf.com.

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View original content:https://www.prnewswire.com/news-releases/fidelity-national-financial-acquires-allfirst-title-insurance-agency-301607049.html

SOURCE Fidelity National Financial, Inc.; FGL Holdings

FAQ

What is the significance of FNF acquiring AllFirst Title Insurance Agency?

The acquisition strengthens FNF's market presence in several states and adds a portfolio of regional brands.

When was the acquisition of AllFirst Title Insurance Agency announced?

The acquisition was announced on August 16, 2022.

How will the AllFirst brands operate after the acquisition by FNF?

AllFirst will continue serving customers through its existing brands while leveraging FNF's resources for growth.

What regions will FNF now operate in after acquiring AllFirst?

FNF will operate in Texas, Oklahoma, New Mexico, and Arkansas, covering 121 counties.

Who will lead AllFirst after the acquisition?

Luke Strawn will continue to lead AllFirst and report to Joe Grealish, President of Eastern Operations at FNF.