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Assurant, Inc., acquired American Title, Inc., a company specializing in title and valuation services for home equity lenders. American Title will operate as part of Assurant’s Mortgage Solutions business as announced by Assurant, Inc.
“American Title is a strong fit with our focus on risk management in the housing market,” said Michael Campbell, President, Global Home, Assurant. “As a leader in home equity title and valuation, ATI adds another important dimension to the expansion of our capabilities across the home and mortgage value chain, to more holistically serve our clients.”
American Title’s team of approximately 400 professionals will remain in their current offices in Omaha, Nebraska, and Palm Bay, Florida. American Title will expand Assurant’s businesses and services in the home equity field. The company was acquired for $45 million and Assurant expects the transaction to gradually increase earnings in 2017.
“We have the highest regard for the business the Mackintosh family and their team have built in ATI, and we welcome them to Assurant,” Campbell said.
American Title, a privately held company, was founded in 1994 and acquired in 2004 by Bill Mackintosh, who led the company until his death earlier this year. Co-owners Mike Mackintosh and Ashley Horgan will continue to lead the business while Assurant and the American Title team work to create a seamless transition for employees, clients and customers according to the announcement.
“Joining with a respected Fortune 500 leader builds on our company’s legacy and brings us greater capabilities and resources,” Mackintosh said. “We’ve always been committed to our clients, our people and the communities where we serve. That won’t change now that we’re part of the broader Assurant team.”
