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LandAmerica to Merge Underwriting Subsidiaries

In its ongoing restructuring of operations to cut costs, LandAmerica Financial Group, Inc., has announced the merger of its Transnation Title Insurance Company subsidiary into its Lawyers Title Insurance Corporation subsidiary.

Following years of growth through the acquisition of dozens of local real estate transaction services companies, LandAmerica now is focused on "transforming its collection of independent businesses into an integrated and unified operating company," states the company in a press release .

Transnation is the smallest of the company's three largest underwriters, and the merger eliminates the capital requirements of maintaining Transnation as a separate entity, while creating additional surplus for the combined operations that would not exist if Transnation and Lawyers Title remained separate.

Said CEO Theodore L. Chandler Jr .: "Upon completion of this merger, our customers will benefit from a concentration of best practices, operating procedures and technology delivered to them seamlessly and underlined by our commitment to superior service."