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FOR IMMEDIATE RELEASE
OLDWICK - MAY 22, 2020 09:00 AM (EDT)
AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” to Title Resources Guaranty Company (TRG) (Dallas, TX). The outlook assigned to these Credit Ratings (ratings) is stable. TRG is ultimately owned by Realogy Holdings Corp. (Realogy) [NYSE: RLGY], a publicly traded company and real estate brokerage provider that franchises and owns several of the industry’s leading real estate brands and brokerage services firms.
The ratings reflect TRG’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
These rating factors are derived from TRG’s favorable level of risk-adjusted capitalization, and its consistently profitable underwriting and investment results. In addition, TRG is a monoline writer of title insurance, with premium concentration in Texas. TRG benefits from its market position as the seventh-largest title insurance writer in the United States, writing business in 42 states and Washington, D.C., as well as having physical locations in 20 states and Washington, D.C. and holding a 2% market share. Finally, TRG has a formalized ERM program, with Realogy’s board playing an active role in overseeing the company’s risk management and mitigation practices.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.