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AM Best Affirms Credit Ratings of First American Title Insurance Group Members and First American Financial Corporation.

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ENPNewswire-September 16, 2021--AM Best Affirms Credit Ratings of First American Title Insurance Group Members and First American Financial Corporation

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Release date- 15092021 - AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of 'a' (Excellent) of First American Title Insurance Company (Omaha, NE) and its title affiliates, which are referred to as First American Title Insurance Group (FATIG).

In addition, AM Best has affirmed the Long-Term ICR of 'bbb' (Good) of the parent holding company, First American Financial Corporation (FAF) (Delaware) [NYSE: FAF]. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and ratings.)

The ratings reflect FATIG's balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

FATIG maintains a solid market position within the U.S. title insurance industry as its second-largest underwriter, based on 2020 direct premiums written. Policies are distributed on a direct basis and through a network of independent agents. The group invests heavily in its title plant, which is one of the most comprehensive in the industry. The group's operating results have generally been in line with the title industry composite averages and supportive of surplus growth. FATIG benefits from a strong franchise value, financial flexibility and operational support from FAF, which maintains relatively modest financial leverage and solid interest coverage.

The FSR of A (Excellent) and the Long-Term ICRs of 'a' (Excellent) have been affirmed with stable outlooks for the members of First American Title Insurance...

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