Truist Insurance Holdings completes giant sale

Deal creates one of the largest real estate service agencies in the US

Truist Insurance Holdings completes giant sale

Insurance News

By Ryan Smith

Truist Insurance Holdings, a subsidiary of Truist Financial Corporation and the sixth-largest insurance brokerage in the US, has announced that it has closed on the acquisition of Kensington Vanguard National Land Services (KV), one of the nation’s largest independent full-service national title insurance agencies. The deal was first announced last month.

BridgeTrust Title Group, Truist’s existing title and settlement services business, will be integrated into KV and will operate under the KV brand. The consolidated business will be one of the largest real estate service agencies in the country.

In addition to the acquisition, Truist Insurance Holdings has announced the creation of a new insurance services division that will include the combined KV organization as well as Truist’s premium finance business, which is marketed through its AFCO brand in the US and the CAFO brand in Canada. The new division will report to Todd Wartchow, executive vice president of business development and strategy for Insurance Holdings.

“At Truist Insurance Holdings, we serve our clients across a broad and diversified portfolio of businesses, augmented with value-added services like real estate transaction support and premium financing,” said John Howard (pictured above), chairman and CEO of Truist Insurance Holdings. “We’re excited about how our expanded title insurance business and our new division allow us to deliver on our purpose of inspiring and building better lives and communities.”

The combined KV business will be led by Brian Cooper and Jarrett Fein, currently co-CEOs of KV. Barbara Jones, title insurance manager at BridgeTrust, will delay her previously planned retirement until the end of the year to support the transition, Truist said.

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