Irvine Firm Among First American’s Buys
(Dow Jones)
First American Financial Corp., which operates the nation’s second-largest title insurance company, said Tuesday that it has acquired two privately held companies. No financial terms were disclosed.
The company’s First American Title Insurance Co. subsidiary acquired the 80% of Pioneer Agency in Quakertown, Pa., that it didn’t already own. The acquisition strengthens its presence in Pennsylvania.
First American Financial said it acquired Five Star Holdings, an Irvine property and casualty underwriter that manages and places property and casualty insurance coverage.
Shares in the company closed unchanged Tuesday at $13.50.
