HomeServices of America takes stake in title insurance underwriter TRG
HomeServices of America, a residential real estate company owned, has acquired a minority stake in Title Resources Group (TRG), a US-based title insurance underwriter, for an undisclosed price.
Through the deal, the subsidiary of Berkshire Hathaway Energy joins private investment management firm Centerbridge Partners and real estate services provider Realogy Holdings, the other major shareholders of the Title Resources Group joint venture.
Title Resources Group caters to title insurance agents across 37 states and the District of Columbia. At the end of 2021, the insurance underwriter had $163 million in liquid assets.
Gino Blefari — CEO of HomeServices of America said: “Our strengthened partnership with Title Resources Group further enhances the ability of HomeServices’ sales associates to provide clients with a one-stop shopping approach to delivering the American dream of homeownership.
“We’re excited to be a part of this joint venture with Scott McCall and his team, as well as our other partners at Centerbridge and Realogy.”
According to Title Resources Group, the expanded roster of joint venture partners will be key to expediting its mission and growth as the title insurance underwriter founded for the real estate industry.
Scott McCall — Title Resources Group president and CEO said: “HomeServices of America is a long-time, valued customer of TRG, and we’re thrilled to welcome them as a significant shareholder to our joint venture. We look forward to working with their team to expand our collaboration in the months and years ahead, further accelerating our growth.”