OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of Title Resources Guaranty Company (TRG) (Dallas, TX). The outlook of these Credit Ratings (ratings) is stable. TRG is ultimately owned by Realogy Holdings Corp. (Realogy) [NYSE: RLGY], a publicly traded company and a leading and integrated provider of U.S. residential real estate services encompassing franchise, brokerage, relocation, and title and settlement businesses, as well as a mortgage joint venture.
The ratings reflect TRG’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). AM Best also considered the parent company’s credit profile in the TRG’s rating analysis, and viewed it as a limiting factor to the ratings.
These rating factors are derived from TRG’s favorable level of risk-adjusted capitalization and its consistently profitable underwriting and investment results, as well as Realogy’s stable credit profile. TRG is a Texas-based monoline writer of title insurance, and is among the leading title insurers in its home state. The company benefits from its market position as the seventh-largest title insurance writer in the United States, writing business in 38 states and Washington, D.C., while maintaining a 2% market share nationwide. 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.
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