FNF Buys Flood Insurance Assets

Fidelity National Financial Inc., Irvine, Calif., has acquired certain assets of Bankers Insurance Group, including the rights to issue new and renewal flood insurance policies underwritten by Bankers Insurance and its subsidiaries.The terms of the deal were not disclosed. As part of the transaction, FNF also acquired FCIC, an insurance carrier licensed in 50 states, to act as the underwriter for the policies. FNF said the deal involved more than 360,000 flood insurance policies originated through a nationwide network of 10,000 independent agents in conjunction with the National Flood Insurance Program. FNF, a provider of title insurance and real-estate-related products and services, can be found online at http://www.fnf.com.

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