JACKSONVILLE, Fla.

Title insurer Fidelity National Financial on Thursday said its first-quarter profit more than doubled on strong refinance activity in the quarter, topping Wall Street’s expectations.

The majority of Fidelity National’s business comes from its role as the nation’s largest provider of title insurance, which guarantees to homebuyers that there aren’t problems with a home’s ownership history and that the seller is legally able to sell the property.

Its revenue in that segment edged up to $1.10 billion from $1.08 billion, as it closed 12 percent more orders than in the 2010 first quarter. That largely was the result of brisk refinance activity early in the quarter, the company said. Revenue in its specialty insurance business rose 8 percent to $96.1 million.

The company also said it laid off 600 employees during the period as part of its $50 million cost savings program.

For the three months ended March 31, Fidelity National said net income rose to $42.5 million, or 19 cents per share, from $16.5 million, or 7 cents per share, in the prior-year period.

Revenue slipped less than a percent to $1.208 billion from $1.213 billion in the previous year.

Analysts expected, on average, a profit of 11 cents per share on revenue of $1.206 billion, according to FactSet.

Shares closed down 28 cents at $14.90 on Thursday.