Fidelity National Financial, Inc. Q1 FY26 Results

"The first quarter was an outstanding start to 2026 for our Title and F&G businesses. Our Title business delivered an industry leading adjusted pre-tax Title margin of 13.1% in the first quarter, up 140 basis points over the first quarter of 2025, reflecting continued strong performance across the business with strength in commercial, continued momentum in refinance and disciplined expense management." "F&G continues to provide an important complement to our Title business and remains a meaningful contributor to FNF's adjusted net earnings. F&G's operating performance from its underlying spread-based and fee-based businesses continues to be strong, and we remain confident in F&G's strategy. Together, our complementary businesses are executing well, our strong and consistent cash generation continues to support a balanced and disciplined capital allocation strategy and we are well positioned to deliver long-term shareholder value."

"Our Title business delivered outstanding results in the first quarter, generating adjusted pre-tax Title earnings of $268 million, up 27% over the first quarter of 2025, and an industry leading adjusted pre-tax Title margin of 13.1%. This performance reflects the strength of our direct commercial business, continued momentum in refinance with orders opened up more than 50% over the prior year, and our disciplined approach to expense management driving strong incremental margins. These results demonstrate that our scale, technology investments and operating model continue to support the earnings power of our business even in the current historically low transactional environment.” “While we are poised to benefit from an eventual recovery in the residential housing market, we also see a second driver in our technology and AI investments. The productivity gains we have already achieved through automation and data at scale are a key reason we continue to deliver industry leading margins. We believe FNF is well positioned to benefit from advances in AI, given our scale, proprietary data, embedded workflows and financial strength, enabling us to not only remain an industry leader, but also lead innovation in a way that continues to protect our customers.”

“The first quarter was a solid start to the year, highlighted by record assets under management before reinsurance of nearly $75 billion fueled by $3.2 billion of gross sales in the quarter, including $2 billion of core sales from indexed annuities, indexed universal life and pension risk transfer, and $1.2 billion of opportunistic funding agreements and multiyear guaranteed annuities. Our high quality, diversified investment portfolio continues to perform extremely well, including our private origination portfolio, with total credit-related impairments stable and below our pricing assumptions.” “Our diversified, self-funding capital model is supported by our annual inforce capital generation and third party capital through our reinsurance sidecar and our strategic flow reinsurance partnerships. Together, these sources of capital provide financial strength and flexibility to invest for growth in our core business, while consistently returning capital to shareholders through dividends and opportunistic share repurchases. During the first quarter, we returned $67 million of capital to shareholders through dividends and share repurchases. We are executing on our strategy toward a more fee-based, higher margin and less capital intensive business model to drive long-term growth and shareholder value.”