American National Acquires Title Insurer

Irvine-based American National Financial said it has closed the long-expected purchase of a New York title insurer that will enable the Orange County firm to begin conducting business throughout the western United States. American National, a spinoff from Irvine-based Fidelity National Financial Inc., paid about $3.25 million for National Title Insurance of New York, a shell company licensed in 35 states. Fidelity, which holds a 30% stake in American, was the previous owner. American officials said they planned to expand immediately into 38 California counties.