Acrisure, the global insurance broker and fintech service provider, has announced its entry into the real estate services industry with its acquisition of Tempo Title, one of the world’s largest private title insurance and settlement service providers. United States.
Financial terms of the transaction were not disclosed.
With this acquisition, Acrisure will establish Acrisure Real Estate Services, a new division to provide owners, lenders and investors with a wide range of real estate services. With an existing concentration of Acrisure’s insurance portfolio in construction, housing, real estate and related business lines, this new division will immediately add value to existing and future clients.
“Client needs go beyond our core lines of insurance and Acrisure has the team, technology and customer focus to be a single provider of multiple financial solutions,” said Greg Williams, co -Founder, President and CEO of Acrisure, based in Grand Rapids, Michigan.
“Agreements of this magnitude must work strategically and culturally. With Tempo, we have a partner who anticipates and solves client needs, and does so with the same focus on empowerment, entrepreneurship and growth that has taken Acrisure from $ 38 million to $ 3 billion in income in just over eight years, ”added Williams.
Acrisure Real Estate Services joins Acrisure Asset Management as new divisions created by the company in 2021, signaling Acrisure’s intention to serve its clients and grow beyond its traditional insurance business.
Like all parts of the business, Acrisure Real Estate Services will harness the artificial intelligence and data analysis capabilities of Acrisure, Acrisure said in a statement.
“By partnering with the best companies, we’ve built one of the largest and most diverse independent securities and settlement businesses in the country,” said Jason DeYonker, CEO of Tempo Title and Head of Acrisure Real Estate Services . “In this new chapter as part of Acrisure, we are joining together to form one of the world’s leading financial services companies and a pioneer in using the best of people and AI to solve complex needs. client.
Based in New York City, Tempo Title operates from 90 different offices and is licensed in 43 states. Since its inception, Tempo Title has quickly grown to over $ 300 million in annual revenue. With this announcement, the rebranding from Tempo to Acrisure Real Estate Services will occur in the short term. Tempo Title’s operating partners will continue to operate under their own brands.