Five Star Holdings Inc

Fidelity National Financial Inc., an Irvine-based title insurer and real estate service provider, said it has ended talks to buy Five Star Holdings Inc., a privately owned property and casualty insurer. Executives at both Fidelity National, the fourth-largest U.S. title insurer, and Five Star mentioned stock market declines as a reason for the collapse of the deal, which was announced Aug. 11. Dirk McNamee, president of Five Star's operating unit, Five Star Insurance Co.

First American Financial Corp., which operates the nation's second-largest title insurance company, said Tuesday that it has acquired two privately held companies. No financial terms were disclosed. The company's First American Title Insurance Co. subsidiary acquired the 80% of Pioneer Agency in Quakertown, Pa., that it didn't already own. The acquisition strengthens its presence in Pennsylvania.

First American Financial Corp. said Tuesday it is expanding its drive into insurance products by purchasing a small Irvine-based property and casualty company. Santa Ana-based First American said it has reached a definitive agreement to buy Five Star Holdings Inc., which offers home, auto and commercial insurance. Terms were not disclosed. First American said it will operate Five Star as a separate company, retaining all employees and managers.

First American Financial Corp. said Tuesday it is expanding its drive into insurance products by purchasing a small Irvine-based property and casualty company. Santa Ana-based First American said it has reached a definitive agreement to buy Five Star Holdings Inc., which offers home, auto and commercial insurance. Terms were not disclosed. First American said it will operate Five Star as a separate company, retaining all employees and managers.

First American Financial Corp., which operates the nation's second-largest title insurance company, said Tuesday that it has acquired two privately held companies. No financial terms were disclosed. The company's First American Title Insurance Co. subsidiary acquired the 80% of Pioneer Agency in Quakertown, Pa., that it didn't already own. The acquisition strengthens its presence in Pennsylvania.

Fidelity National Financial Inc. said Tuesday it agreed to acquire Five Star Holdings Inc., a privately held California insurer, in a stock transaction. Under terms of the proposed deal, Five Star shares will be converted into 600,000 shares that would be worth more than $21 million, based on the price of Fidelity's shares on Tuesday. Fidelity's stock closed at $35.63, down $1 a share.

A planned merger between Fidelity National Financial Inc. and insurer Five Star Holdings Inc. was called off Thursday, the second deal that has collapsed recently for Irvine-based Fidelity. Dirk McNamee, president of Five Star, said he halted the deal because the volatile stock market has taken a toll on Fidelity's stock, "making it difficult for us to agree on a pricing formula for the merger." "We're all pretty disappointed," he said. "No reflection on Fidelity.

Fidelity National Financial Inc., an Irvine-based title insurer and real estate service provider, said it has ended talks to buy Five Star Holdings Inc., a privately owned property and casualty insurer. Executives at both Fidelity National, the fourth-largest U.S. title insurer, and Five Star mentioned stock market declines as a reason for the collapse of the deal, which was announced Aug. 11. Dirk McNamee, president of Five Star's operating unit, Five Star Insurance Co.