The acquisition of Doma Holdings by Title Resources Group (TRG) represents a landmark consolidation in the U.S. title insurance market. A unique strategic component of the deal involves the separation of Doma’s assets: Doma’s underwriting division (DTI) becomes a wholly owned subsidiary of TRG, while its technology division (Doma TechCo) will operate as a separately capitalized sister company. Centerbridge Partners remains the largest shareholder of TRG and becomes the majority owner of Doma TechCo. Additionally, Lennar’s strategic arm, LENX, made a concurrent investment to become a minority owner of TRG, reinforcing the group's ties to the homebuilding community. The strategic rationale for the deal centers on achieving massive scale in underwriting while isolating and further developing Doma’s disruptive AI-driven technology. By combining TRG’s financial stability with Doma’s innovative data stack, the group aims to set a new industry standard for high-speed, data-driven title closings.

DOMA, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the average currently observed in the Financial Services sector (14.0x).

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