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Fidelity National Financial FNF Indexed annuities — Deferred sales inducements

Discontinued — last reported Q3 '25

Similar metrics at other companies

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PRUAnnuities — Deferred Sale Inducement Cost
$341M-8.1%
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APOIndexed Annuities — Deferred Sale Inducement Cost
$2.2B+35.9%
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AMPFixed Annuity — Deferred Sale Inducement Cost
$8M-11.1%
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AFGAnnuity and Run-off — Deferred Sale Inducement Cost
$73M-2.7%
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APOIndexed Annuities — Deferred Sales Inducement Cost, Amortization Expense
$60M+50.0%
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PRUIndividual Variable — Deferred Sale Inducement Cost
$347M-7.7%

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

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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

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Net margin8.3%

Returns & leverage

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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:DeferredSalesInducementsNet.

The official record: Fidelity National Financial’s 10-Q, filed November 10, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Fidelity National Financial's indexed annuities — deferred sales inducements?
Fidelity National Financial (FNF) reported indexed annuities — deferred sales inducements of $821M in Q3 2025.
How has Fidelity National Financial's indexed annuities — deferred sales inducements changed year-over-year?
Fidelity National Financial's indexed annuities — deferred sales inducements increased by 52.6% year-over-year, from $538M to $821M.
What does indexed annuities — deferred sales inducements mean?
Upfront incentives paid to customers to buy annuities, which are spread out as an expense over time.
How do you interpret indexed annuities — deferred sales inducements?
Higher levels indicate aggressive growth strategies but require long-term profitability to justify the initial cost.
How does indexed annuities — deferred sales inducements compare across companies?
Commonly referred to as Deferred Sales Inducements (DSI) in insurance accounting.