NAT Parent Company Lennar Corp. Announcese Partnership with "Insurtech" Startup States Title
Friday, December 7, 2018
December 7, 2018
In a press release issued yesterday by its parent company Lennar Corporation, North American Title Group announced that “it plans to combine its underwriter and the majority of its retail title business with States Title, Inc.”
States Title, an “insurtech” startup that advertises the use of predictive analytics to underwrite title, was licensed by the California Department of Insurance in August.
According to the press release, the deal is expected to be finalized in January of 2019, pending regulatory approval in California and Arizona. Under the terms of the agreement, States Title will acquire North American Title Insurance Company and a majority of North American Title Company, both of which will continue to operate under the North American Title brand.
Further information can be found in the press release contained here.