Inman News (07/01/08)
Transnation Title Insurance Co.--LandAmerica Financial Group Inc.'s smallest title insurance underwriting unit--will be folded into Lawyers Title Insurance Corp. This means LandAmerica no longer has to meet capital requirements for maintaining Transnation as a separate entity, and it will generate additional surplus as a result of the merger. LandAmerica is making the change to reduce costs, following a 27.6-percent slide in revenue and a loss of $24.2 million for the first quarter.
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