PartnerRe Ltd. invested $19 million in Entitle Direct Group Inc., a Stamford company that sells real estate title insurance online.
Bermuda-based PartnerRe sells reinsurance used by other carriers to limit the risk in their portfolios, with its main U.S. office in Greenwich. It is the company’s first investment in a title insurance business.
Along with $2 million from its existing investors, Entitle indicated it would use the ParterRe investment to bolster its surplus and build up its distribution channel. The company indicated it is on pace to increase order volume 75 percent this year.
Sandler O’Neill + Partners L.P. acted as Entitle Direct Group’s sole placement agent in the transaction.
