Fidelity Buys Southern Family's Flood Portfolio

Fidelity National Property and Casualty Insurance Co., a subsidiary of Fidelity National Financial, has received permission to purchase a portfolio of 63,000 flood insurance policies from Southern Family Insurance Co.Fidelity said it had received permission from the Circuit Court of Florida to purchase the entire portfolio of flood insurance policies of Southern Family through the Florida Department of Financial Services. The policies are part of the National Flood Insurance Program. Fidelity said it will service the policies through its in-house flood processing unit located in St. Petersburg, Fla. Southern Family, a member of the Poe Financial Group, was placed in receivership by the state of Florida on June 1. FNF can be found on the Web at http://www.fnf.com.