States Title to acquire NATC and NATIC from Lennar Corp.

North American Title Group, a wholly-owned subsidiary of homebuilder Lennar, plans to combine its underwriter and the majority of its retail title business with States Title, Inc, a Silicon Valley-based "insurtech" startup that uses predictive analytics to underwrite the title on a property nearly instantaneously, helping customers close real estate transactions safely, quickly, and inexpensively. The deal, which is expected to close in January 2019 if pending regulatory approval in California and Arizona is obtained by year end, calls for States Title to acquire NATG's underwriter, North American Title Insurance Company, and the majority of the retail business of NATG's national title agency, North American Title Company. The new company will continue to operate under the North American Title brand and Lennar will assume a substantial minority equity ownership stake. "By partnering with North American Title, we accelerate our shared vision to build the title company of the future," said Max Simkoff, States Title's founder and CEO.