WFG Acquires a Nevada Title Agency

Williston Financial Group, the parent company of WFG National Title Insurance Co., has acquired Community Title Services of Nevada, an agency based in Las Vegas.

Community Title is changing its name to WFG National Title Co. of Nevada. Alan Maynor will oversee the local operation as division president.

Going forward, a WFG spokesman said the Nevada unit will be a direct operation agency and only write policies for WFG. It had written policies for other underwriters in the past.

“This acquisition is consistent with the steady, strategic pace WFG has set for its growth,” said president and CEO Patrick Stone. “We are looking forward to extending our presence with an established direct operation in one of the nation’s critical real estate markets.”

According to American Land Title Association data, WFG National Title is the fourth largest of the independent (or regional) title insurance underwriters, with 1Q13 premiums written of $41.4 million for a 1.4% market share. This is more than double the $19.4 million written in 1Q12.

Of the 1Q13 total, $32 million of business came through non-affiliated agencies, $6 million through affiliated agencies and $3 million through the direct channel.