Old Republic National Title Holding Company Acquires Troon Management Corporation and Sentry Abstract Company
|September 8, 2006|
MINNEAPOLIS, /PRNewswire/ -- Rande Yeager, President & CEO, Old Republic National Title Insurance Company (ORNTIC), headquartered in Minneapolis, MN, announced the acquisition by Old Republic National Title Holding Company (ORNTHC) of Troon Management Corporation and Sentry Abstract Company effective August 31, 2006. Troon, based in Hatboro, PA, is in the business of providing management, consulting services and the operation of joint venture affiliated business arrangements that offer title insurance.
Over the years, Troon has advised title agents, lenders, builders and Realtors® on all facets of developing regulatory compliant affiliated business arrangements around the country. The principals of Troon, Anne Anastasi and Chip Lutz, are frequent contributors to programs of numerous industry trade organizations, including the American Land Title Association. Steve Wilson, Executive Vice President of ORNTIC stated, "The purchase of Troon will provide our agents access to recognized experts with a number of years of experience in the formation of affiliated business arrangements, which will assist agents in the development of strategies to expand business. I have known Anne and Chip for many years and am very proud to have them join the Old Republic Title family."
Ms. Anastasi, who will remain President of Troon, said, "We are excited about our new alliance with such a reputable title insurance leader and look forward to working closely with Old Republic Title's employees and agents across the country." Mr. Lutz will remain with Troon as Vice President and Counsel.
Sentry Abstract Company, based in Reading, PA, was formed in 1975 as an independent title agency. Current President, Chip Lutz, purchased Sentry in 1989 and re-engineered the company over the next several years to provide management services to other title insurance agencies in Eastern Pennsylvania. Mr. Lutz will continue to serve as President of Sentry Abstract.
Source: Old Republic Title Insurance Group
Source: Old Republic National Title Insurance Company