Truist Insurance Holdings launches new Insurance Services Division with close of Kensington Vanguard acquisition
Truist Insurance Holdings, a subsidiary of Truist Financial Corporation (NYSE: TFC), has successfully acquired Kensington Vanguard National Land Services, enhancing its position as a leading insurance broker in the U.S. This acquisition integrates BridgeTrust Title Group into the Kensington Vanguard brand, consolidating operations into one of the largest real estate service agencies nationwide.
A new Insurance Services Division is established, reporting to Todd Wartchow, focusing on delivering diverse value-added services, including premium financing. Leadership transitions are underway to ensure smooth integration.
- Acquisition enhances Truist's position in the insurance sector, creating one of the largest real estate service agencies.
- Creation of a new Insurance Services Division to streamline operations and expand service offerings.
- None.
CHARLOTTE, N.C., March 2, 2022 /PRNewswire/ -- Truist Insurance Holdings, Inc., a subsidiary of Truist Financial Corporation and the sixth-largest insurance brokerage in the U.S., announced today that it has closed on the acquisition of Kensington Vanguard National Land Services (KV), one of the country's largest independent full-service national title insurance agencies.
BridgeTrust Title Group, the company's existing title and settlement services business, will be integrated into and operate under the KV brand. The consolidated operation will be one of the largest real estate service agencies in the U.S.
Concurrent with the close of this transaction, Truist Insurance Holdings announced the creation of a new Insurance Services Division, which will include not only the combined KV organization but also its Premium Finance business, which is marketed through its AFCO brand in the U.S. and CAFO brand in Canada. The new division will report to Todd Wartchow, executive vice president of business development and strategy for Insurance Holdings.
"At Truist Insurance Holdings, we serve our clients across a broad and diversified portfolio of businesses, augmented with value-added services like real estate transaction support and premium financing," said John Howard, the company's chairman and CEO. "We're excited about how our expanded title insurance business and our new division allow us to deliver on our purpose of inspiring and building better lives and communities."
The newly combined KV business will be led by Brian Cooper and Jarett Fein, currently co-chief executive officers of KV. Barbara Jones, title insurance manager at BridgeTrust, will delay a previously planned retirement until year-end to support the transition. Additional KV leadership announcements will follow as the business integrates into Truist Insurance.
There are no changes to the Premium Finance organization and leadership as part of its transition to the new Insurance Services Division.
About Truist Insurance Holdings
Truist Insurance Holdings, Inc., the sixth-largest insurance broker in the U.S. and seventh-largest in the world, is a subsidiary of Truist Financial Corporation (NYSE: TFC). Headquartered in Charlotte, NC, Truist Insurance Holdings operates more than 240 offices through its subsidiaries: McGriff Insurance Services, Inc.; CRC Insurance Services, Inc.; Crump Life Insurance Services, Inc.; AmRisc, LLC; and its Premium Finance companies (AFCO Credit Corporation and CAFO Inc.). To learn more, visit www.truistinsurance.com.
About Kensington Vanguard National Land Services
Kensington Vanguard National Land Services, LLC, headquartered in New York City with 400 employees, is one of the largest full-service national title insurance and settlement agencies in the U.S. Founded in 2002, Kensington Vanguard provides commercial and residential title insurance, settlement, escrow and 1031 exchange services. To learn more about Kensington Vanguard, visit www.kvnational.com.
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SOURCE Truist Financial Corporation
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