Jacksonville, Fla. -- (June 28, 2006) -- Fidelity National Financial, Inc. (NYSE:FNF), a Fortune 500 provider of outsourced products and services to a variety of industries, today announced that its wholly-owned subsidiary Fidelity National Property and Casualty Insurance Company has received approval from the Circuit Court of Florida to purchase all of the existing flood insurance policies of Southern Family Insurance Company through the Department of Financial Services of the State of Florida. The Fidelity National Property and Casualty Insurance Group is the largest writer of flood insurance through the National Flood Insurance Program.
The transaction involves more than 63,000 flood insurance policies originated through a network of Florida independent agents in conjunction with the National Flood Insurance Program. Under the program, the Federal Government makes flood insurance available to owners and renters of residential and commercial properties as financial protection against flood losses and maintains the underwriting risk associated with potential claims. Borrowers are required by law to purchase flood insurance to obtain financing associated with a residential or commercial structure located in a federally designated Special Flood Hazard Area.
Fidelity National Property and Casualty Insurance Company will service these policies through its affiliated in-house flood processing unit located in St. Petersburg, Florida. The transition will be seamless to both agents and policyholders alike during the current hurricane season, a potentially critical time for holders of flood insurance policies.
Independent agents and policyholders can reach Fidelity National Property and Casualty Insurance Company toll free at (800) 820-3242 or via facsimile at (800) 850-3299. Independent agents can also reach Fidelity National Property and Casualty Insurance Company via its website at www.fidelitynationalflood.com or via e-mail at email@example.com.
Fidelity National Financial, Inc. (NYSE:FNF), number 248 on the Fortune 500, is a provider of outsourced products and services to a variety of industries. Through its majority-owned, publicly traded subsidiary, Fidelity National Title Group, Inc. (NYSE:FNT), FNF is one of the nation's largest title insurance companies, with nearly 29 percent national market share. Through its majority-owned, publicly traded subsidiary, Fidelity National Information Services, Inc. (NYSE:FIS), FNF provides an industry leading suite of data processing, payment and risk management services to financial institutions and retailers. Through its wholly-owned subsidiaries, FNF is also a leading provider of specialty insurance products, including flood insurance, homeowners insurance and home warranty insurance. Through its minority-owned subsidiary, Sedgwick CMS, FNF is a leading provider of outsourced insurance claims management services to large corporate and public sector entities. More information about the FNF family of companies can be found at www.fnf.com, www.fntg.com, www.fidelityinfoservices.com and www.sedgwickcms.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on operating subsidiaries as a source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.
SOURCE: Fidelity National Financial, Inc.
CONTACT: Daniel Kennedy Murphy, Senior Vice President, Finance and Investor Relations, 904-854-8120, firstname.lastname@example.org
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