Lawyers Title Insurance Co

Acquisition Plans: Fidelity National Financial Inc. may some day become the Procter & Gamble of title insurance companies if a tentative deal in Northern California works out. The Irvine parent company of Fidelity National Title Insurance Co. is negotiating to buy the Bay Area title operations of Continental Lawyers Title Co. of California--a subsidiary of giant Lawyers Title Insurance Co. in Richmond, Va.

Lawyers Title Corp. on Thursday said it will pay $463 million for the title insurance units of Reliance Group Holdings Inc., forming the largest U.S. title insurer to surpass Santa Ana-based First American Financial Corp. Lawyers Title, now the nation's sixth-largest insurer of property titles, will pay $463 million in stock and cash for the Reliance subsidiaries, Commonwealth Land Title Insurance Co. and Transnation Title Insurance Co.

Lawyers Title Corp. on Thursday said it will pay $463 million for the title insurance units of Reliance Group Holdings Inc., forming the largest U.S. title insurer to surpass Santa Ana-based First American Financial Corp. Lawyers Title, now the nation's sixth-largest insurer of property titles, will pay $463 million in stock and cash for the Reliance subsidiaries, Commonwealth Land Title Insurance Co. and Transnation Title Insurance Co.

Acquisition Plans: Fidelity National Financial Inc. may some day become the Procter & Gamble of title insurance companies if a tentative deal in Northern California works out. The Irvine parent company of Fidelity National Title Insurance Co. is negotiating to buy the Bay Area title operations of Continental Lawyers Title Co. of California--a subsidiary of giant Lawyers Title Insurance Co. in Richmond, Va.

Stewart Title Insurance of California Inc. became the first of six title companies to notify homeowners that it is making refunds as the result of a consumer protection lawsuit settlement. The firms agreed in October to make more than $40 million in refunds to settle a suit alleging deceptive advertising and unfair business practices regarding their escrow accounts.

The Federal Trade Commission charged Monday that six major title insurance firms, including three Southland companies, illegally fixed prices on title searches and examinations and on settlement services in 13 states. The commission charged that the companies used private ratings bureaus to fix prices for services provided by the insurance firms to real estate purchasers, thus restraining competition in this business. The complaint named Ticor Title Insurance Co.

Two of the nation's largest title insurers, Fidelity National Financial Inc. and rival Chicago Title Corp., are discussing a merger that would make them the market leader in a rapidly consolidating and increasingly competitive industry, The Times has learned. A combination of Irvine-based Fidelity National, the No. 4 title insurer, and the larger Chicago Title, ranked No. 3, would create a real estate giant with $3.2 billion in revenue, including $2.5 billion from title operations.

Irvine-based Fidelity National Financial Inc., which used a string of acquisitions to become the nation's fourth-largest title insurance company, is discussing a possible merger with a major rival that would create the nation's largest title insurance company, The Times has learned. If the deal is completed, Orange County could be home to the nation's two largest title insurance companies. Industry leader First American Financial Inc.