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MISSOULA, MT-ALPS Corp. here, whose main operating subsidiary provides professional liability insurance to attorneys, will purchase Southern Title Insurance Corp., a regional title insurance underwriter headquartered in Richmond, Va. ALPS will pay $2.25 million in cash for the company, according to A.M. Best Co., Oldwick, N.J.
According to American Land Title Association data for 2008, Southern Title was the sixth largest of the regional title companies, although its overall national market share was just 0.44%. The ALTA data also showed Southern Title had...