INSURANCE TECHNOLOGY

Centerbridge Joins Realogy to Launch Title Insurance Underwriter Venture

Title Resources Group | March 30, 2022

Centerbridge_Joins_Realogy
Title Resources Guaranty Company, doing business as "Title Resources Group," announced today that the Texas Department of Insurance had approved the formation and funding of its previously announced title underwriting joint venture with Centerbridge Partners, L.P. ("Centerbridge") and Realogy Holdings Corp.

The stock of TRG, which conducts underwriting operations, contributes to a new holding company cooperatively owned by the joint venture partners as part of the transaction. In addition, Realogy's title agencies will be retained in its Realogy Title Group division.

The joint venture will assist TRG to accelerate its profitable growth trajectory and build the company's current strong momentum. TRG has attained a compound annual growth rate of approximately 15% in title premiums and 19% in statutory net income over the last 12 years while providing superior customer capabilities and outcomes.

Title Resources Group has developed due to our commitment to providing knowledgeable and responsive underwriting solutions to our network of title insurance agents across the United States while maintaining quality through integrity and financial stability. We're ecstatic to form this partnership, which is a testament to our firm's high-quality people and operations, and accelerate our profitable growth trajectory. With the support of our Centerbridge partners, we're excited about the opportunity to broaden our reach and deepen our capabilities through investment in our people and technology."

Scott McCall, President and CEO, will continue to lead TRG in a similar position in 2009.

We're encouraged by the strong team, and platform Scott has built. We look forward to accelerating the growth at TRG as an independent entity. The board of TRG will continue to prioritize investments in technology and new services, all to deliver value to all stakeholders, including agents and employees."

Kevin Mahony, Managing Director at Centerbridge.

Furthermore, TRG will have its board of directors, chaired by Alan Colberg, former CEO of Assurant, Inc, as an independent entity from Realogy. Before Assurant, Alan was at Bain & Company for 22 years and served as the global practice leader for financial services. Additional independent board members will be admitted over the coming months.

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Fibromyalgia (fi·bro·my·al·gi·a) is a condition that causes pain all over the body (also referred to as widespread pain), sleep problems, fatigue, and often emotional and mental distress. -Centers for Disease Control and Prevention. Called abnormal pain perception processing, people with fibromyalgia experience pain differently and are more sensitive to it.

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