Five title underwriters have formed a reinsurance alliance with Lloyd's of London, called The American Title Reinsurance Alliance.
The alliance will guarantee the participating companies a secure source of reinsurance for their large transactions.
The title underwriters involved are Agents National Title Insurance Company, Columbia, Missouri; Alliant National Title Insurance Company, Longmont, Colorado; Attorneys' Title Guaranty Fund of Colorado, Denver, Colorado; Connecticut Attorneys Title Insurance Company, Rocky Hill, Connecticut; and Security Title Guarantee Corporation of Baltimore, Baltimore, Maryland.
The Beazley syndicate is the lead underwriter for Lloyd's, working along with three other syndicates.
“We are pleased to have entered into this relationship with Lloyd's,” said Rich Patterson, president of Connecticut Attorneys Title Insurance Company.
“This program enhances our ability to insure large transactions while reducing our exposure to loss. In addition, it allows us to obtain reinsurance on very favorable terms. This will enable us to be more competitive for multi-million dollar transactions.”
Lloyd's, American Title Reinsurance Alliance