Ticor Title is a member of the FNF family of companies and the nation’s largest group of title companies and title insurance underwriters that collectively issue more title insurance policies than any other title company in the United States.
FNF Core Title Operation Performance
The fourth quarter of 2016 was a great finish to another strong year for our title insurance business, as we generated fourth quarter adjusted pre-tax title earnings of $292 million and a 15.8% adjusted pre-tax title margin. For the full-year 2016, we produced more than $8.2 billion in total revenue and a 14.7% adjusted pre-tax title margin.
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Residential Real Estate Overview
Fidelity National Title Group purchase opened and closed orders increased by 7% and 12%, respectively on a daily basis in the fourth quarter. In addition, the mix of business during the fourth quarter shifted more towards purchase transactions, with purchase business accounting for 59% of open orders and 55% of closed orders.
Commercial Real Estate Overview
Our commercial operations experienced another strong quarter to end 2016. Total commercial revenue of $285 million was our second highest quarterly in company history. For fullyear 2016 total commercial revenue of approximately $973 million was just 5% behind the record setting 2015 performance.
Looking Forward to the Year Ahead
As we progress through 2017, we continue to strive to maximize earnings from our operations and remain the most profitable title insurance company in the country.
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