Truist Opens Insurance Services Unit with Close of Kensington Title Agency Acquisition

Insurance broker Truist Insurance Holdings, Inc. reports it has closed on the acquisition of Kensington Vanguard National Land Services (KV), a national title insurance agency.

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

New York City-based Kensington Vanguard provides commercial and residential title insurance, settlement, escrow and 1031 exchange services.

Along with the close of this transaction, Truist said it will create a new Insurance Services Division, which will include not only the combined KV organization but also its premium finance business, which is marketed through its AFCO brand in the U.S. and CAFO brand in Canada.

The new division will report to Todd Wartchow, executive vice president of business development and strategy for Insurance Holdings.

The newly combined KV business will be led by Brian Cooper and Jarett Fein, currently co-chief executive officers of KV. Barbara Jones, title insurance manager at BridgeTrust, will delay a previously planned retirement until year-end to support the transition. Additional KV leadership announcements will follow as the business integrates into Truist Insurance.

Headquartered in Charlotte, North Carolina, Truist Insurance Holdings operates more than 240 offices through its subsidiaries: McGriff Insurance Services, Inc.; CRC Insurance Services, Inc.; Crump Life Insurance Services, Inc.; AmRisc, LLC; and its premium finance companies (AFCO Credit Corp. and CAFO Inc.)

Topics Mergers & Acquisitions