BANKING
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Fidelity National: Not to be outdone by its neighbor, upstart Fidelity National Financial Inc., the nation’s fifth-largest title insurer, has continued its strategy of growth by picking up a small Philadelphia agency for $275,000 in cash.
The company folded the operations of Peoples Abstract Inc. into its Pennsylvania operations.
Oddly, Fidelity had completed a major acquisition of a Pennsylvania title insurer last year that provided the Irvine company entree to a wide area on the East Coast. But the acquired company didn’t have any operations in Philadelphia.
Fidelity will keep all 17 Peoples Abstract employees as it tries to spur its growth in the Philadelphia area.
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