Showing posts from May 18, 2008

LandAmerica Announces the Opening of the LandAmerica Title Insurance Company of Mexico, S.A.

LandAmerica Financial Group, Inc. (NYSE: LFG: 30.69, -0.32, -1.03%) announces its LandAmerica Title Insurance Company of Mexico, S.A. ("LATIM") subsidiary has received licensing approval from the Mexican government to operate as a title insurance underwriter in Mexico. LATIM is headquartered in the central Mexican city of San Miguel de Allende with a satellite office in North Baja. Plans call for establishing offices in South Baja and on Mexico's Pacific and Caribbean coasts. With LATIM receiving licensing approval, LandAmerica becomes one of only two U.S.-based title insurance companies licensed to do business in Mexico. Mexican licensing provides buyers, sellers, developers and lenders several advantages over traditional cross-border policies (also known as "international policies"). These include the legal ability to issue policies and other paperwork directly to Mexican insureds, plus the ability to place human and physical resources in the countr…