JACKSONVILLE, Fla., June 26, 2017 /PRNewswire/ -- Fidelity National Financial, Inc. today announced that it has signed a definitive agreement to acquire a majority ownership stake in Title Guaranty of Hawaii ("Title Guaranty"), with the Pietsch family, the current owners of Title Guaranty, continuing to own a portion of the company. Title Guaranty will continue to be closely aligned with Chicago Title as it formally becomes part of the FNF title company family.
Founded in 1896, Title Guaranty is the oldest title insurance company in the state of Hawaii and is a leading provider of title and escrow services, with more than 300 employees in branches statewide providing title insurance and real estate closing services. FNF has a more than 30-year relationship with Title Guaranty.
"We are excited to formally welcome Title Guaranty of Hawaii into the FNF family," said Chairman William P. Foley, II. "We have a 30+ year relationship with the company and we expect the same level of professionalism and customer service to continue as Title Guaranty joins our direct operations."
About Fidelity National Financial, Inc.
Fidelity National Financial, Inc. is organized into two groups, FNF Group (NYSE: FNF) and FNFV Group (NYSE: FNFV). FNF is a leading provider of title insurance, technology and transaction services to the real estate and mortgage industries. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title and National Title of New York - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides industry-leading mortgage technology solutions and transaction services, including MSP®, the leading residential mortgage servicing technology platform in the U.S., through its majority-owned subsidiaries, Black Knight Financial Services and ServiceLink Holdings. FNFV holds majority and minority equity investment stakes in a number of entities, including American Blue Ribbon Holdings, LLC, Ceridian HCM, Inc. and Del Frisco's Restaurant Group, Inc. More information about FNF and FNFV can be found at www.fnf.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; weakness or adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on distributions from our title insurance underwriters as a main source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.
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SOURCE Fidelity National Financial, Inc.