Fidelity National Financial Inc. has the green light from Nebraska insurance regulators and a federal bankruptcy court in Virginia to buy LandAmerica Financial Group Inc.'s two largest underwriting subsidiaries, Lawyers Title Insurance Corp. and Commonwealth Land Title Insurance Co., for $282 million. Should antitrust regulators approve the deal, Fidelity would surpass First American Corp. as the nation's biggest title insurance underwriter. But the sale, which Fidelity says must close by Dec. 22, is opposed by the two smallest of the "big five" title insurers -- Stewart Title Guaranty Co. and Old Republic International Corp. -- who argue that the resulting industry consolidation could restrict competition. Lawyers representing LandAmerica's creditors had also asked ...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.