Industry News

Mercury’s Colorado title operations go to Fidelity

Deal takes 30% of state's market from First American

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Fidelity National Financial Inc. has snatched up all the Colorado title insurance operations of troubled Mercury Companies Inc. from under the nose of a competitor, boosting its market share in the state by 30 percent. In recent months, Denver-based Mercury has closed down its title and escrow companies in California, Arizona, Texas, Oregon and Nevada, and announced that it was negotiating the sale of its Colorado title companies to its exclusive underwriter, First American Corp. (see story). Instead, competitor Fidelity stepped in and acquired Mercury's Colorado operations, including Security Title, First American Heritage Title, Title America and United Title, and the Impact title operating system all the companies use. Mercury has said the companies controlled a 30 percent share of the Colorado title insurance market. "With the acquisition of these Colorado operations, we have become the market-share leader in the state of Colorado," Fidelity National Financ...