Bermuda-based holding company White Mountains Insurance Group Ltd. has agreed to provide up to $13 million to OneTitle National Guaranty Co. Inc. and will take a minority stake in the company.
OneTitle is a licensed New York title insurance underwriter that works directly with attorneys, lenders, developers and homeowners and bypasses title insurance agents.
Daniel Price is founder and resident and CEO of OneTitle.
The transaction will close upon receipt of regulatory approval, the companies said.
White Mountains previously owned Esurance from 2000 until it sold the online insurance provider to Allstate in 2011. White Mountains’s operating segments include Sirius Group, OneBeacon and HG Global/BAM. It also has ownership in investment management subsidiary White Mountains Advisors LLC, Tranzact Holdings LLC and QL Holdings LLC, among others.
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