ATG Joins American Title Reinsurance Alliance
January 14, 2020
Chicago-based Attorneys' Title Guaranty Fund Inc. has become the 10th member of the American Title Reinsurance Alliance (ATRA). ATRA secures reinsurance coverage through eight Lloyds of London syndicates led by the Beazley syndicate. ATRA was formed in January 2012 to provide a secure source of reinsurance for large transactions for regional title insurers. The ATRA arrangement gives ATG the ability to insure transactions up to $500 million with the backing of the top title reinsurance syndicates in London.
“On behalf of ATG and its agents and insureds, we are pleased to have established this relationship with the venerable Lloyd’s of London,” said Peter J. Birnbaum, ATG’s president and CEO. “This alliance strengthens our position, enhances our ability to compete for large value real estate transactions, and allows ATG to provide significant savings to our customers. By maintaining a conservative primary retention on each policy and ceding risks to the syndicates for larger transactions, ATG provides its insureds with unparalleled financial protection.”
Demotech, an independent financial analysis firm that has been reviewing and rating title underwriters since 1992, indicates ATRA is a strong benefit to regional insurers, noting Lloyd's of London’s long-term record of backing up its promises. Demotech recently affirmed ATG’s Financial Stability Rating (FSR) of A' (A Prime), Unsurpassed. This is the highest rating given to any regional title insurer in the United States, a status ATG has maintained since 1995.
Chicago insurance brokerage firm Thompson Flanagan played a pivotal role in bringing the parties together. The firm provides insurance and reinsurance solutions for the title industry, which requires specialized knowledge given its unique exposures.
Other participating title underwriters are: Agents National Title Insurance Company, Columbia, Mo.; Alliant National Title Insurance Company, Longmont, Colo.; Attorneys' Title Guaranty Fund of Colorado, Denver; Connecticut Attorneys Title Insurance Company, Rocky Hill, Conn.; Security Title Guarantee Corporation of Baltimore, Md.; First National Title Insurance Company, Plano, Tex.; Iowa Title Guaranty, Des Moines, Iowa; WFG National Title Insurance Company, Portland Ore.; and Real Advantage Title Insurance Company, Santa Ana, Calif.
Contact ALTA at 202-296-3671 or communications@alta.org.