Fidelity National Financial, Inc, a provider of title insurance, specialty insurance, claims management and information services, signs reinsurance agreements with Commonwealth Land Title, Lawyers Title, LandAmerica NJ and United Title.
The contract concerns LandAmerica Financial Group, Inc.’s two principal title insurance underwriters, Commonwealth Land Title Insurance Company (“Commonwealth”) and Lawyers Title Insurance Corporation (“Lawyers”), as well as LandAmerica NJ Title Insurance Company (“LandAm NJ”) and United Capital Title Insurance Company (“United”).
Chicago Title Insurance Company (“Chicago Title”) will reinsure policies underwritten by Commonwealth and LandAm NJ and Fidelity National Title Insurance Company (“Fidelity National Title”) will reinsure policies underwritten by Lawyers and United during the transition period between the signing of the stock purchase agreement and the closing of the transaction.
The reinsurance agreements will allow agents and all other customers to rely upon the underlying financial strength of Chicago Title and Fidelity National Title and ensure that all Commonwealth, Lawyers, LandAm NJ and United title insurance policies issued to and escrow deposits held on behalf of customers will be fully protected during the period of transition until the closing of the stock purchase.
L.D.