Industry News

Fidelity lands greater market share in Florida

Closes purchase of American Pioneer Title Insurance Co.

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Fidelity National Financial, which provides products and outsourced services to financial institutions and the real estate industry, today announced it closed the acquisition of American Pioneer Title Insurance Co. American Pioneer is a 45-state licensed title insurance underwriter with significant agency operations and computerized title plant assets in the state of Florida. Terms of the transaction were not disclosed. The company will operate under FNF's Ticor Title brand, strengthening Ticor as a competitive national brand with strong direct and agency operations and a total revenue base of more than $800 million. American Pioneer's Florida title plant assets in 45 counties, including all of the major metropolitan areas, provide FNF with comprehensive title plant coverage in the state of Florida. FNF Chairman William Foley said the acquisition "vaults FNF to the number one market share position in the state of Florida, with $321 million in pro forma 2002 title premiums and 28 p...