Fidelity National Financial, Inc. Responds to Press Release from California Department of Insurance
|February 23, 2005|
Jacksonville, FL -- The California Department of Insurance announced yesterday its investigation into reinsurance practices in the title insurance industry. This investigation originated with the National Association of Insurance Commissioners, which has been looking into the reinsurance practices for approximately one year. The Fidelity National Financial Companies have been cooperating with these investigations and have provided all information requested to date. The Company intends to continue to cooperate fully with the California Department of Insurance as well as with any other regulatory body. The Company has previously announced its voluntary discontinuance of all reinsurance agreements. The amount of premiums ceded to these reinsurers has been approximately $10 million over the existence of these agreements.
SOURCE: Fidelity National Financial, Inc.