JACKSONVILLE, Fla., April 16, 2024 /PRNewswire/ -- Fidelity National Financial, Inc. (NYSE: FNF) ("FNF" or the "Company") today announced the commencement of separate and distinct consent solicitations of the holders of each of its 4.500% Senior Notes due 2028 (the "2028 Notes"), 3.400% Senior Notes due 2030 (the "2030 Notes"), 2.450% Senior Notes due 2031 (the "2031 Notes") and 3.200% Senior Notes due 2051 (the "2051 Notes" and, collectively with the 2028 Notes, 2030 Notes and the 2031 Notes, the "Notes"; ...

VIRGINIA BEACH, Va., April 15, 2024 /PRNewswire/ -- LoanCare®, LLC, a top U.S. mortgage subservicer, announced today that Fitch Ratings has assigned the company the U.S. residential primary servicer for specialty Closed-End Second Lien products rating of RPS2+; Outlook Stable. In addition, Fitch affirmed LoanCare's U.S. residential primary servicer for Prime product and specialty subservicer ratings at RPS2+ in 2023, reflecting the company's strong focus on advancing processes and providing subservicing exc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FIDELITY NATIONAL FINANCIAL, INC. (Exact name of registrant as specified in its charter) Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-32630 Delaware 16-1725106 (State or other jurisdiction of incorporation or or ...

FNF Reports Fourth Quarter and Full Year 2023 Financial Results Jacksonville, Fla. – (February 21, 2024) - Fidelity National Financial, Inc. (NYSE:FNF) ("FNF" or the "Company"), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through its majority-owned, publicly traded subsidiary F&G Annuities & Life, Inc. (NYSE:FG) ("F&G"), today reporte ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-32630 FIDELITY NATIONAL FINANCIAL, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organi ...

Fidelity National Financial, Inc. (NYSE:FNF) Q2 2023 Earnings Conference Call August 9, 2023 11:00 AM ET Company Participants Lisa Foxworthy-Parker – Senior Vice President, Investor and External Relations Mike Nolan – Chief Executive Officer Tony Park – Chief Financial Officer Chris Blunt – Chief Executive Officer, F&G Conference Call Participants Bose George – KBW Soham Bhonsle – BTIG John Campbell – Stephens Inc. Mark Hughes – Truist Securities Geoffrey Dunn – Dowling & Partners Operator Good morning, and ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-32630 FIDELITY NATIONAL FINANCIAL, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organizatio ...

Real Estate and Mortgage Activity - Title segment revenue is closely related to real estate activity, with a forecasted total U.S. mortgage originations of $2.2 trillion in 2023, down from $2.2 trillion in 2022[289]. - Existing-home sales decreased by 22% in March 2023 compared to March 2022, while median existing-home sales prices fell by 1% from $379,500 to $375,700[292]. - Commercial real estate transaction volume is linked to financing availability, with a noted decrease in order volumes and fee per file in Q1 2023 compared to the prior year[294]. - Closed title insurance order volume decreased by 51%, from 380,000 in Q1 2022 to 188,000 in Q1 2023, primarily due to higher average mortgage interest rates[340]. Financial Performance - Total revenues decreased by $693 million to $2,474 million for the three months ended March 31, 2023, compared to $3,167 million in the same period of 2022[326]. - Net earnings from continuing operations fell by $490 million to a loss of $88 million for the three months ended March 31, 2023, compared to earnings of $402 million in the same period of 2022[326]. - Total revenues for the Title segment decreased by $831 million, or 35%, in the three months ended March 31, 2023, compared to the same period in 2022, totaling $1,552 million[336]. - Interest and investment income increased to $611 million, up from $478 million year-over-year[325]. - Total expenses decreased slightly to $2,548 million from $2,611 million year-over-year[325]. Insurance and Annuities - The F&G segment's reserves, net of reinsurance, for fixed rate annuities were $11.0 billion with an average crediting rate of 3% as of March 31, 2023[299]. - The FIA market grew from nearly $12 billion in sales in 2002 to $79 billion in sales in 2022, indicating significant demand for retirement savings products[302]. - The aging U.S. population is expected to increase demand for fixed indexed annuities and indexed universal life products as more individuals prepare for retirement[301]. - Life insurance premiums and other fees decreased to $365 million for the three months ended March 31, 2023, down from $596 million in the same period of 2022, reflecting lower PRT premiums[359]. Tax and Regulatory Changes - The Inflation Reduction Act of 2022 introduced a 15% corporate alternative minimum tax effective January 1, 2023, but the company does not anticipate a material effect on its financial condition[334]. - The income tax expense was $14 million for the three months ended March 31, 2023, compared to $156 million in the same period of 2022[333]. - The income tax benefit for Q1 2023 was $8 million, a significant decrease from an income tax expense of $106 million in Q1 2022, resulting in an effective tax rate of 4% compared to 31% in the prior year[377]. Investment Portfolio - The fair value of the investment portfolio increased to approximately $44 billion as of March 31, 2023, up from $41 billion at the end of 2022[380]. - Fixed maturity securities accounted for 77% of the total investments as of March 31, 2023, with a fair value of $34.2 billion, compared to $31.2 billion at the end of 2022[380]. - The gross unrealized loss on fixed maturity securities and equity portfolio was $4,301 million as of March 31, 2023, down from $4,744 million as of December 31, 2022[404]. - The total amortized cost of all securities in an unrealized loss position was $34,550 million as of March 31, 2023, compared to $34,164 million as of December 31, 2022[404]. Cash Flow and Capital Management - Operating cash flow for the three months ended March 31, 2023, was $1,418 million, an increase of $751 million compared to $667 million for the same period in 2022[430]. - Cash flows used in investing activities decreased to $2,285 million for the three months ended March 31, 2023, from $3,414 million in the same period in 2022[432]. - Cash flows from financing activities increased by $222 million to $1,402 million for the three months ended March 31, 2023, compared to $1,180 million in 2022, primarily due to the issuance of $500 million in 7.40% F&G Notes[434]. - The company paid dividends of $0.45 per share in the first quarter of 2023, totaling approximately $122 million to common shareholders[424]. Personnel and Operating Costs - Personnel costs decreased by $178 million, or 23%, in Q1 2023, due to a lower average headcount, with personnel costs as a percentage of total revenues rising to 67%[347]. - Other operating expenses increased to $36 million in Q1 2023 from $18 million in Q1 2022, leading to total personnel and operating costs of $89 million compared to $48 million year-over-year[376]. - Personnel costs for the three months ended March 31, 2023, were $53 million, up from $30 million for the same period in 2022, reflecting headcount growth to support higher volumes[376]. Market Risks and Future Outlook - The company anticipates future operating results to be subject to significant volatility due to changes in fair value of equity and preferred security investments[437]. - No material changes in market risks have been reported since the Annual Report for the year ended December 31, 2022[440]. - There have been no significant changes to off-balance sheet arrangements since the Annual Report for the year ended December 31, 2022[438].

Financial Data and Key Metrics Changes - Adjusted net earnings from continuing operations were $141 million or $0.52 per diluted share, down from $386 million or $1.36 per share in Q1 2022 [3][26] - Total revenue for the first quarter was $2.5 billion, a decrease from $3.6 billion in the first quarter of 2022 [26][28] - The company reported a net loss of $59 million, compared to net earnings of $400 million in the prior year [26][28] Business Line Data and Key Metrics Changes - The Title segment generated $1.5 billion in total revenue, down from $2.6 billion in Q1 2022 [4] - The F&G segment reported record total gross sales of $3.3 billion, a 27% increase year-over-year [5] - Direct premiums in the Title segment decreased by 44% compared to Q1 2022, while agency premiums decreased by 50% [31] Market Data and Key Metrics Changes - Daily purchase orders opened were up 20% over Q4 2022, and refinance orders opened per day were up 6% over Q4 2022 [16] - Total orders opened averaged 5,000 per day in Q1, with April showing a 4% increase over March [17] - F&G's assets under management reached $45 billion as of March 31, reflecting strong growth [19][89] Company Strategy and Development Direction - The company aims to navigate a volatile market by focusing on exceptional customer service and long-term business growth [15][84] - There is a strategic emphasis on acquisitions, recruiting talent, and enhancing title capabilities to build the Title business [24] - The company is considering various options regarding the potential spin-off or monetization of F&G, with a focus on maximizing shareholder value [54][58] Management's Comments on Operating Environment and Future Outlook - Management noted that the current market environment presents both headwinds and tailwinds, with expectations for modest margin improvement in the near term [22][65] - There is cautious optimism regarding improving order volumes, although the market remains volatile [21][81] - The company remains confident in the fundamentals of the business despite near-term pressures [24][84] Other Important Information - The company adopted a new accounting standard (LDTI) effective January 1, 2023, impacting the F&G segment [20] - The company ended the quarter with $834 million in cash and short-term liquid investments [88] - The debt-to-capitalization ratio was 28.5% as of March 31, aligning with long-term targets [40] Q&A Session Summary Question: Buybacks and Financial Uncertainty - Management indicated that buybacks were paused due to economic challenges in the Title business, despite having repurchased over $1 billion in stock in the past two years [35][36] Question: Commercial Market Concerns - Management acknowledged price discovery issues in the commercial market but noted an 8% sequential improvement in open orders [47][48] Question: F&G Spin-off Considerations - The Board is considering options for the potential spin-off of F&G, with a focus on market conditions and shareholder value [54][58] Question: Near-term Margin Outlook - Management clarified that near-term margin improvement would be modest due to low levels of activity, despite some sequential improvements in order volumes [65][72]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-32630 FIDELITY NATIONAL FINANCIAL, INC. (Exact name of registrant as specified in its charter) Delaware 16-1725106 (State or other jurisdiction of incorporation or or ...