Fidelity National Financial Inc (FNF) experienced a significant increase in net income in 2024, driven by several key factors:
- Revenue Growth: FNF's total revenue grew by 16% to $13.7 billion in 2024 compared to the previous year1. This overall revenue growth was a result of strong performance across its segments.
- Title Segment Performance: The Title segment, which focuses on title insurance and related services, contributed significantly to the company's earnings. Although the segment faced a low transactional environment, it showed resilience with a 6% increase in daily purchase opened orders in Q4 2024 compared to Q4 20232. The segment's revenue growth and adjusted pre-tax title earnings highlight its role in FNF's earnings growth3.
- F&G Segment Growth: The F&G segment, which includes Fidelity National Financial Group, achieved record assets under management of $62.9 billion and strong gross sales of $3.9 billion in the third quarter4. This segment's robust growth and profitability, reflected in its adjusted net earnings, were a significant driver of FNF's overall earnings growth4.
- Expense Management: FNF's ability to manage expenses effectively likely contributed to its earnings growth. For instance, the company's adjusted pre-tax title margin for the full year 2024 was 15.1%, indicating efficient cost management2.
In summary, FNF's earnings growth in 2024 was driven by strong revenue growth, particularly in its Title and F&G segments, and effective expense management.