Old Republic Announces Its Subsidiary, Old Republic National Title Insurance Company, Has Acquired The Operating Assets of Mountain View Title & Escrow, Inc.

Rhea-AI Summary

Old Republic International Corporation (NYSE: ORI) has successfully acquired the operating assets of Mountain View Title & Escrow, based in Utah, effective January 21, 2022. This acquisition adds nine new office locations and 86 employees to Old Republic Title's existing operations, which includes over 270 branch and subsidiary locations nationally. Mountain View Title, established in 1979, is recognized for its excellence in managing real estate transactions, aligning with Old Republic's commitment to superior customer service and advanced technology.

Positive

• Acquisition adds nine office locations and 86 employees, enhancing Old Republic Title's operational presence.
• Strengthens Old Republic Title's market position in Utah amid growing demand for housing due to commercial development and population growth.
• Alignment of Mountain View's service excellence and technology with Old Republic's culture supports strategic growth objectives.

Negative

• None.

CHICAGO, Jan. 24, 2022 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) subsidiary, Old Republic National Title Insurance Company (Old Republic Title), has acquired the operating assets of Utah-based Mountain View Title & Escrow, Inc., (Mountain View) as of January 21, 2022. The acquisition adds nine office locations and 86 employees to Old Republic Title's existing network of direct operations that includes more than 270 branch and subsidiary office locations nationwide.

Mountain View has been serving Utah since 1979 with company founder and President Michael Hendry at the helm. Skilled leadership, industry expertise and a commitment to excellence are among the principles that have helped build the business into a recognized leader in handling residential and commercial real estate transactions.

"Mountain View's commitment to serving with integrity and a genuine concern for customers in each transaction is an important part of what distinguishes them in the title industry," states Carolyn Monroe, President, Old Republic Title. "The company and its staff have a reputation for exceeding customers' expectations through service excellence and advanced technology. Those priorities align well with the culture and standards of Old Republic Title. We are delighted to welcome Mountain View to the Old Republic family where they will benefit through their alignment with our Title Group's national network of operations, underwriting expertise and financial strength. This significant alignment will not only help Mountain View meet its strategic objectives, but this significant acquisition also accelerates Old Republic Title's growth plans in Utah, where commercial development, population and job growth are contributing to an unprecedented demand for housing."

Hendry, now holding the title of Vice President, Senior Escrow Officer and Manager at Old Republic Title, notes, "Our teams look forward to being part of Old Republic Title's Rocky Mountain Region. We will continue to serve our customers from our existing Utah office locations in Ogden, Layton, Draper, Cedar City, St. George River Road, St. George Boulevard and Riverdale, now under the Old Republic Title name."

About Old Republic
Chicago-based Old Republic International Corporation is one of the nation's 50 largest shareholder-owned insurance businesses. It is a member of the Fortune 500 listing of America's largest companies. The Company is organized as an insurance holding company whose subsidiaries actively market, underwrite, and provide risk management services for a wide variety of coverages mostly in the general and title insurance fields. Old Republic's general insurance business ranks among the nation's 50 largest, while its title insurance operations are the third largest in its industry.

For Old Republic's latest news releases and other corporate documents:
Please visit us at www.oldrepublic.com

Alternatively, please write or call: Investor Relations
Old Republic International Corporation
307 North Michigan Avenue, Chicago, IL 60601
(312) 346-8100

At Old Republic:	At Financial Relations Board:
Craig R. Smiddy, President and CEO	Analysts/Investors: Joe Calabrese 212/827-3772

 

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SOURCE Old Republic International Corporation

FAQ

What is the purpose of Old Republic's acquisition of Mountain View Title?

The acquisition aims to enhance Old Republic Title's operational presence in Utah, leveraging Mountain View's established reputation and expertise in real estate transactions.

When did Old Republic acquire Mountain View Title?

Old Republic completed the acquisition on January 21, 2022.

How many locations did Old Republic add through the Mountain View acquisition?

Old Republic added nine new office locations through the acquisition of Mountain View Title.

What impact does the acquisition have on Old Republic Title's growth?

The acquisition accelerates Old Republic Title's growth plans in Utah, aligning with the region's increasing demand for housing.

What is Mountain View Title's history?

Mountain View Title has been serving the Utah market since 1979 and has built a reputation for excellence in handling residential and commercial real estate transactions.