Fidelity National Financial Aims for 15%-20% Pretax Title Margin with Commercial Expansion

Fidelity National Financial has set a pretax title margin target of 15%-20%. The company reported Q2 2025 adjusted pretax title earnings of $337 million, a 4% increase from Q2 2024. Management highlighted strong results across all business segments and emphasized growth in commercial volume and capital allocation.

Fidelity National Financial (FNF) has outlined a pretax title margin target of 15%-20% for the year, reflecting a strong performance in the second quarter of 2025. The company reported adjusted pretax title earnings of $337 million, a 4% increase from the same period last year [1].

CEO Michael Joseph Nolan highlighted the company's robust performance across all business segments. He noted a 5% increase in daily purchase orders and a 28% rise in refinance orders compared to the first quarter of 2025. Commercial volumes were a bright spot, with direct commercial revenue of $626 million in the first six months, a 23% increase over the first half of 2024 [1].

CFO Anthony John Park reported total revenue of $3.6 billion for the second quarter, with adjusted net earnings of $318 million or $1.16 per diluted share. The Title segment contributed $260 million in adjusted net earnings, while the F&G segment contributed $89 million. The Title segment generated $2.2 billion in total revenue, with direct premiums up 12% and agency premiums up 7% over the prior year [1].

The company expects quarterly interest and investment income of $90 million to $95 million in each quarter for the remainder of 2025, assuming two Fed funds rate cuts. Approximately $28 million per quarter of common and preferred dividend income from F&G to the Corporate segment is also anticipated [1].

FNF repurchased 2.9 million shares for $159 million in the quarter and returned nearly $300 million of capital to shareholders. Management remains committed to its 15%–20% pretax title margin target and signals continued focus on efficiency, capital allocation, and long-term growth opportunities across both the Title and F&G segments [1].

References:
[1] https://seekingalpha.com/news/4481687-fidelity-national-financial-outlines-15-percent-20-percent-pretax-title-margin-target-while