Westcor Land is said to be one of the largest privately-held title insurance companies in the US
The Orogen Group, a New York-based investment company, has agreed to acquire a majority stake in Westcor Land Title Insurance for an undisclosed price.
Based in Florida, Westcor Land is claimed to be among the largest privately-held title insurance companies in the US. The company is said to have a vast independent agent network with regional offices located throughout the oountry.
Orogen chairman and CEO Vikram Pandit said: “Under Mary O’Donnell’s leadership, Westcor has grown into the nation’s largest independent title insurance business, playing a critical role in facilitating real estate transactions for millions of consumers.
“Westcor’s world-class management team is committed to providing exceptional support and service to independent title agents and other participants in the title insurance process.
Westcor Land has been offering localised underwriting resources
Westcor Land was founded by agents in 1993 for catering to the title insurance agency market with innovative solutions.
Currently, the company offers localised underwriting resources for title agents. Additionally, it claims to offer next–generation solutions to address the challenges faced by the real estate industry.
The company’s technology offerings include Closepin and X1 Analytics.
Last month, Westcor Land announced its expansion in the UK and Ireland by acquiring Titlesolv UK and Ireland through its subsidiary Westcor International.
Westcor Land president and CEO Mary O’Donnell said: “Every day, our employees and agents provide peace of mind to consumers and play an essential role in the largest personal financial investment many of them will ever make.
“We believe that the values and vision we share with Orogen will allow us to continue to expand our business and deliver exceptional service to our customers.”
The closing of the deal with Orogen Group is subject to receipt of customary regulatory approvals.
For the title insurance company, Citigroup is the financial advisor, while Mayer Brown is serving as legal counsel. For Orogen Group, its legal counsel is Davis Polk & Wardwell, while Greenberg Traurig is the regulatory counsel.