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WRM America Holdings LLC, a specialty-lines property and casualty insurance and risk-management holding company, has reached a definitive agreement to acquire Fidelity National Financial’s flood and excess flood business—Fidelity National Indemnity Insurance Co. (FNII)—for $210 million.

WRM America has agreed to buy the flood business unit from Fidelity National for $210 million.

A.M. Best Co. said yesterday it has placed the ratings of Fidelity National Financial Group and its eight title insurance members under review with negative implications in the wake of its planned $12