A.M. Best Removes Ratings of Fidelity National Financial, Inc. and Its Title Insurance Subsidiaries From Under Review

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of Fidelity National Financial Group (Fidelity) and its eight title insurance members. In addition, A.M. Best has removed from under review with negative implications and affirmed the ICR of “bbb” of Fidelity National Financial, Inc. (FNF) (headquartered in Jacksonville, FL) (NYSE: FNF). A negative outlook has been assigned to all of the ratings. (Please see below for a detailed listing of the companies and ratings.)

The ratings of FNF and Fidelity have been removed from under review following the announcement of the termination of Fidelity’s proposed merger agreement with LandAmerica Financial Group, Inc. following a two week due diligence period which expired on November 21^st. The ratings had previously been placed under review as A.M. Best assessed the implications of Fidelity’s recently announced plans to acquire the LandAmerica Financial Group, Inc. (LandAmerica), the third-largest national writer of title insurance in the United States. (Please see A.M. Best’s Press Release dated November 11, 2008.)

Fidelity’s negative rating outlook is primarily based on the title group’s recent unfavorable operating results following the announcement of $262 million in reserve strengthening due partly to higher than expected adverse development of claims from policy years 2006 and 2007, along with a somewhat more conservative estimate of expected claims from the current policy year. (Please see A.M. Best’s press release dated October 30^th, 2008 for further information).

The FSR of A (Excellent) and ICRs of “a” have been removed from under review with negative implications and affirmed for Fidelity National Financial Group and its following members:

• Alamo Title Insurance
• Chicago Title Insurance Company of Oregon
• Chicago Title Insurance Company
• Fidelity National Title Insurance Company
• National Title Insurance of New York, Inc.
• Security Union Title Insurance Company
• Ticor Title Insurance Company of Florida
• Ticor Title Insurance Company

The ICR of “bbb” has been removed from under review with negative implications and affirmed for Fidelity National Financial, Inc.

For Best’s Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.