Armour acquires Mexican insurer

Armour Group, the majority shareholder of insurance agency, Secure Legal Title, has acquired Mexican insurer Fidelity National Title de Mexico.

Secure Legal Title, a title insurer in the UK and continental European markets, has expanded its business to offer Lloyd’s-backed policies for title insurance in Mexico.

Fidelity National Title de Mexico, which will be renamed Armour Secure Insurance, has written over $7 billion in policies and is the largest title insurer in the Mexican market.

According to the Department for Business, Innovation and Skills, trade between UK and Mexico is enjoying double-digit growth, with bilateral trade in 2013 at £3.3 billion, up by 15 percent compared with 2012.

Secure Legal Title’s CEO Joel Peck said: “Mexico is showing great growth and offers strong investment opportunities. But investors may be put off by the potential risk of acquiring commercial real estate overseas in an unfamiliar market.

“That’s why title insurance offers the peace of mind of knowing that even if a problem with the ownership of land or physical assets emerges, investors in real estate are covered and the risk mitigated. We are delighted to be taking Lloyd’s reinsurance into the Mexican title insurance market.”