Fidelity National Financial, Inc. (FNF) reported a decline in financial performance for the first quarter of 2025, with total revenues of $2.729 billion, down from $3.299 billion in the same period of 2024. The decrease of $570 million was primarily driven by lower recognized gains and losses, which shifted from a gain of $275 million in 2024 to a loss of $287 million in 2025. Net earnings also fell to $83 million, a decrease of $186 million compared to the previous year, resulting in earnings per share of $0.30, down from $0.92.
The company's Title segment saw a revenue increase of 7%, totaling $1.774 billion, attributed to a rise in direct title insurance premiums, which increased by 16% to $510 million, and agency title insurance premiums, which rose by 15% to $681 million. However, the F&G segment experienced a significant revenue drop from $1.569 billion in 2024 to $908 million in 2025, largely due to a decrease in life insurance premiums and other fees, which fell from $718 million to $489 million. The segment's losses before income taxes were $26 million, compared to earnings of $142 million in the prior year.
Operationally, FNF reported an increase in personnel costs, which rose by 9% to $770 million, reflecting inflationary pressures and a modest increase in revenues. The average employee count in the Title segment increased to 21,399 from 20,516. The company also noted a provision for title claim losses of $54 million, consistent with the previous year, maintaining a provision rate of 4.5% of title premiums.
Strategically, FNF has been active in capital markets, completing a public offering of 8 million shares of F&G common stock in March 2025, which is expected to support organic growth opportunities. Additionally, the company redeemed $300 million of its 5.50% Senior Notes in February 2025 and issued $375 million in 7.30% Junior Subordinated Notes in January 2025. Looking ahead, FNF anticipates continued challenges in the real estate market, influenced by factors such as mortgage interest rates and housing inventory, but remains focused on leveraging its operational strengths to navigate these conditions.
About Fidelity National Financial, Inc.
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