ALPS, the legal malpractice insurance carrier endorsed by the Virginia State Bar, is buying Southern Title Insurance Corp.
Both firms are privately held and details of the stock purchase agreement were not disclosed. The deal is expected to close in early July.
“We are always looking for ways that we can help lawyers in Virginia practice better and practice smarter, and this makes sense,” said Robert W. Minto Jr., president and CEO of ALPS, which is based in Missoula, Mont. Southern Title is based in Richmond.
The companies issued a joint press release describing the transaction and their mutual interest in building “market share in low-risk, rural areas.”