TRG Completes Deal for Doma

October 1, 2024

Title Resources Group (TRG) closed on its acquisition of Doma Holdings Inc. 

Doma was valued at nearly $88 million in the all-cash transaction, which was originally announced in March.

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 LP 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 join Anywhere Real Estate Inc., HomeServices of America (a Berkshire Hathaway affiliate), Opendoor Technologies Inc. and Centerbridge Partners as owners of TRG.

"Combining DTI with TRG's existing underwriter, we have become the fifth largest independent underwriter in the United States,” said Scott McCall, CEO of TRG. “We look forward to leveraging our increased scale to create more value for our agents and partners in the marketplace. 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."

According to the latest market share data, TRG reported $212.7 million in title insurance premium, resulting in 2.9% market share. Meanwhile, Doma garnered $139.2 million in title premiums (1.9% market share).

"The DTI team and I are excited to continue our journey under Scott's leadership,” said Emilio Fernandez, President of DTI. “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.”


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