Alleghany Asks to Swap Data with Anaheim’s TRW REDI

Alleghany Corp. has asked the Federal Trade Commission to approve a plan for one of its subsidiaries to exchange real estate records from Southern California with TRW REDI Property Data.

The agency’s approval is needed under the terms of two agreements that were reached after the FTC expressed competitive concerns about Alleghany’s earlier acquisitions of competing title-insurance companies or real estate records.

In its current request, New York-based Alleghany asked the FTC to let its Security Union Title Insurance Co. subsidiary exchange electronic images of public real estate documents with Anaheim-based TRW REDI Property Data. The proposed transaction involves records from Los Angeles, Orange, Riverside, San Bernardino and Ventura counties.

In its application, Alleghany said the information exchange with TRW REDI would enhance competition by improving each company’s ability to offer electronic access to title records.

At the same time, Alleghany asked the FTC to change the terms of the 1987 and 1991 settlements to remove future requirements for prior approval of title-related acquisitions.

In a policy change, the FTC recently announced that future antitrust settlements will no longer routinely include provisions that require prior approval for similar acquisitions. At the time, the agency said companies that are subject to outstanding prior-approval requirements could ask the agency to end those restrictions.