First Nationwide Title Agency has been acquired by AmTrust Financial Services, Inc., a multinational insurance holding company, in an all-cash transaction for an undisclosed amount.
Steven Napolitano, founder and former president of FNTA, assumes the title of senior executive vice president of AmTrust Title and president of the Direct Title Division, and will be among the senior management of AmTrust’s expanding title insurance operation.
“We are very excited to be a part of the future growth of title insurance at AmTrust,” said Napolitano, who added the union with AmTrust should enhance AmTrust’s fee and underwriting revenue.
Established in August 2012, First Nationwide generated approximately $50 million in premiums last year, ranking it among the largest title insurance agencies in the Greater New York Metropolitan area, servicing both commercial and residential real estate customers throughout the United States.
