Fidelity National Financial (FNF) has closed the sale of its 32% equity ownership stake in Sedgwick Claims Management Services (Sedgwick CMS) to affiliates of Stone Point Capital and Hellman & Friedman.

According to FNF, the total cash purchase price for Sedgwick CMS, including repayment of debt, was around $1.1bn. The company’s total proceeds were approximately $224m, including an indemnity escrow of about $32m. The sale generated a pre-tax gain of around $95m.

William Foley, chairman of FNF, said: “The sale of Sedgwick clearly achieves our on-going goal of creating significant value for our shareholders. We are very proud of the growth that Sedgwick experienced under our ownership and we wish them future success with their new owners.”

FNF is a provider of title insurance, mortgage services, specialty insurance and information services. It is a title insurance company through its title insurance underwriters – Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title. FNF also provides flood insurance, personal lines insurance and home warranty insurance.