What does immediate annuities — lapses mean?

The percentage of annuity contracts that are cancelled or surrendered by customers before the end of the term.

How do you interpret immediate annuities — lapses?

Unexpectedly high lapse rates may indicate competitive pressure or liquidity needs, while stable rates suggest predictable long-term cash flows.

How does immediate annuities — lapses compare across companies?

Standard metric for annuity and life insurance product retention analysis.

Fidelity National Financial FNF Immediate annuities — Lapses

Similar metrics at other companies

PFGDeferred Fixed Annuity — Policyholder Account Balance Surrender Withdrawal And Benefit Payment

$204.5M-1.8%

PRUAnnuities — Policyholder Account Balance, Surrender and Withdrawal

$165M-12.2%

GLDeferred Annuity — Policyholder Account Balance, Surrender and Withdrawal

$13.72M-17.0%

AMPNon-Life Contingent Payout Annuity — Policyholder Account Balance, Surrender And Withdrawal, Net Of Benefit Payment

$25M0.0%

AIZLife and Annuity Insurance Product Line — Surrender charge, period

0—

VOYADeferred Variable Annuity — Separate Account, Liability, Surrender and Withdrawal

——

Other financials

Income statement

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Revenue$3.2B+18.2%

Net income$243.0M+193%

EPS (diluted)$0.90+200%

Balance sheet

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Cash & equivalents$2.5B-45.0%

Total debt$4.8B-0.7%

Total equity$7.3B-8.1%

Total assets$111.50B+13.5%

Cash flow

See full

Operating cash flow$875.0M-21.5%

Valuation

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Market cap$12.6B-29.7%

Enterprise value$14.9B-18.3%

P/E13.1×—

P/S0.8×-0.5×

Profitability

See full

Net margin8.3%—

Returns & leverage

See full

Return on equity14.2%—

Debt / equity0.7×0.0×

Where this comes from

Reported directly by Fidelity National Financial in its filing.

Tagged under the XBRL concept us-gaap:LongDurationContractsAssumptionsByProductAndGuaranteeLapseRate.

The official record: Fidelity National Financial’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Fidelity National Financial's immediate annuities — lapses?: Fidelity National Financial (FNF) reported immediate annuities — lapses of 0% in Q1 2026.
What does immediate annuities — lapses mean?: The percentage of annuity contracts that are cancelled or surrendered by customers before the end of the term.
How do you interpret immediate annuities — lapses?: Unexpectedly high lapse rates may indicate competitive pressure or liquidity needs, while stable rates suggest predictable long-term cash flows.
How does immediate annuities — lapses compare across companies?: Standard metric for annuity and life insurance product retention analysis.