FNF Eyes Options for Flood Insurance Biz

Fidelity National Financial Inc., Jacksonville, Fla., has announced that it will be investigating strategic options for its specialty insurance business, including flood insurance. FNF said it has retained Bank of America Securities as a financial adviser on the matter. "We are focused on evaluating our noncore assets and investments as potential vehicles for creating meaningful liquidity, and we believe our flood and at-risk insurance businesses are an attractive acquisition opportunity for strategic buyers," said FNF chairman William P. Foley. "Our intent is to use that liquidity to continue to support our dual efforts of maintaining our $1.20 annual cash dividend and repurchasing a significant amount of our outstanding stock." The company can be found on the Web at http://www.fnf.com.