Fidelity announces the sale of approximately 20 percent of Sedgwick CMS

JACKSONVILLE, FL June 5 /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. (NYSE:FNF) , a leading provider of title insurance, specialty insurance, claims management services and information services, today announced the sale of approximately 20 percent of its ownership stake in the parent company of Sedgwick Claims Management Services, Inc. ("Sedgwick CMS") to UnitedHealth Group (NYSE:UNH) . UnitedHealth Group also purchased pro rata ownership shares from Thomas H. Lee Partners, Evercore Partners and David A. North, the other existing minority shareholders of Sedgwick CMS. Following this purchase, UnitedHealth Group will own approximately 20 percent of Sedgwick CMS, and FNF will own approximately 32 percent of Sedgwick CMS. Financial terms of the sale were not disclosed.

"This sale of a portion of our stake in Sedgwick CMS is consistent with our stated goal of creating liquidity from the sale of some of our assets," said Chairman William P. Foley, II. "We are pleased to generate liquidity and create value for our shareholders, and we are excited about the value that UnitedHealth Group can bring to Sedgwick CMS in medical management and cost management strategies for occupational health programs and through the extension of the existing relationship between the two companies in the integrated serving of employer-sponsored disability, group medical, workers' compensation and leave and absence programs. The addition of UnitedHealth Group as a strategic shareholder is a very positive sign for the future of Sedgwick CMS."

Fidelity National Financial, Inc. (NYSE:FNF) , is a leading provider of title insurance, specialty insurance, claims management services and information services. FNF is one of the nation's largest title insurance companies through its title insurance underwriters - Fidelity National Title, Chicago Title, Ticor Title, Security Union Title and Alamo Title - that issue approximately 27 percent of all title insurance policies in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation.