BANKING & FINANCE - March 4, 1993

Fidelity National Profit Soars: Fidelity National Financial Inc., an Irvine title insurance underwriter, reported that its earnings for 1992 more than doubled from the previous 12 months. Profit totaled $15.1 million, or $1.76 a share, up from $6.2 million, or 87 cents a share, for 1991. Revenue increased 73% to $382 million from $220.6 million. Fourth-quarter profit rose 76% to $4.7 million, or 51 cents a share, from $2.6 million, or 35 cents a share, for the same period a year earlier. Three-month revenue nearly doubled to $120.7 million from $61.4 million. The company said low-interest rates and the resulting surge in home mortgage refinancing contributed to the improved results, as did the acquisition of Meridian Title Insurance Co. in June, 1992.