Truist Insurance Holdings, a subsidiary of Truist Financial Corp., created a new insurance services division as it closed on the acquisition of title agency Kensington Vanguard National Land Services. The new division will include the combined Kensington Vanguard organization and Truist’s premium finance business, which is marketed through the AFCO brand in the U.S. and CAFO in Canada.
“At Truist Insurance Holdings, we serve our clients across a broad and diversified portfolio of businesses, augmented with value-added services like real estate transaction support and premium financing,” company Chairman and CEO John Howard said in a release. “We’re excited about how our expanded title insurance business and our new division allow us to deliver on our purpose of inspiring and building better lives and communities.”
The insurance services division will report to Truist Executive Vice President of Business Development and Strategy Todd Wartchow.
With the acquisition, Truist’s BridgeTrust Title Group will be integrated into and operate under the Kensington Vanguard brand. The newly combined business will be led by current Kensington Vanguard co-CEOs Brian Cooper and Jarett Fein.
BridgeTrust Title Insurance Manager Barbara Jones will delay a planned retirement until year-end to support the transition.
There are no changes planned to the premium finance organization and leadership as part of its transition to the new division.