Title Resources Group (TRG), one of the nation’s leading title insurance underwriters, announced the acquisition of Doma Holdings, Inc. Additionally, LENX, the strategic investment arm of Lennar, one of the nation’s leading homebuilders, has made an investment to become a minority owner of TRG. Doma’s underwriting division, Doma Title Insurance, Inc. (“DTI”), is now a wholly owned subsidiary of TRG. Doma’s technology division, renamed Doma Technology LLC (“Doma TechCo”), will operate on a separately capitalized basis. TRG and Doma TechCo will operate as sister companies, with Centerbridge Partners, L.P., as the largest shareholder in TRG and, through a subsidiary, the majority owner of Doma TechCo. Hudson Structured Capital Management, which also participated in the transaction, will also hold a significant ownership stake in Doma TechCo.
Lennar Corp will join Anywhere Real Estate Inc., HomeServices of America (a Berkshire Hathaway affiliate), Opendoor Technologies Inc., and Centerbridge Partners, L.P. as owners of TRG.
“Combining DTI with TRG’s existing underwriter, we have become the fifth largest independent underwriter in the United States. We look forward to leveraging our increased scale to create more value for our agents and partners in the marketplace,” said Scott McCall, CEO of TRG. “Our partnership with Lennar speaks volumes to who we are as a company and the value we deliver. We have always been interested in expanding our relationships within the homebuilding community and Lennar becoming a part owner of TRG is an exciting milestone in fulfilling that goal.”
“The DTI team and I are excited to continue our journey under Scott’s leadership. TRG’s customer-first mentality, commitment to high quality, and genuine approach to partnerships are attributes we both value. Our dual commitment to these shared values will allow us to service our customers more effectively than ever. I’m excited about our shared future,” said Emilio Fernandez, President of DTI.
“We are pleased about our partnership with TRG,” said Eric Feder, President of LENX. “This strategic investment highlights our dedication to fostering innovation across the homebuilding and homebuying process and enhancing value for all stakeholders involved.”
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