Welcome to our dedicated page for Doma Holdings news (Ticker: DOMA), a resource for investors and traders seeking the latest updates and insights on Doma Holdings stock.
Doma Holdings Inc. (DOMA) delivers technology-driven title insurance and real estate closing solutions, modernizing traditional processes through automation and data analytics. This page serves as the definitive source for official company announcements and market-moving developments.
Access curated press releases and news articles covering DOMA's operational milestones, strategic partnerships, and financial performance. Key updates include earnings reports, product innovations, leadership changes, and industry recognition. Investors gain insights into how the company's digital-first approach impacts real estate transaction efficiency and risk management.
All content is sourced from verified channels to ensure accuracy and compliance. Bookmark this page for streamlined tracking of DOMA's progress in transforming title insurance through technological innovation. Check regularly for updates that may influence market perception and long-term strategy in the PropTech sector.
Doma Holdings, Inc. (NYSE: DOMA) has successfully closed its previously announced plan of merger with Title Resources Group (TRG). As part of this transaction, Doma's underwriting division, Doma Title Insurance, Inc., will operate as a TRG subsidiary. The technology division, renamed Doma Technology (Doma TechCo), will operate separately with a new board chaired by Alan Colberg, former CEO of Assurant, Inc.
TRG and Doma TechCo will function as sister companies, with Centerbridge Partners, L.P. as the largest shareholder in TRG and majority owner of Doma TechCo. Hudson Structured Capital Management will hold a significant stake in Doma TechCo. The transaction received all required stakeholder approvals, marking a new chapter for both companies in the real estate industry.
Doma Holdings, Inc. (NYSE: DOMA) reported its Q2 2024 financial results, showing improved performance across key metrics. Total revenues increased 18% to $78 million compared to Q1 2024. Retained premiums and fees rose 13% to $15 million, while gross profit grew 23% to $5 million. The company's adjusted gross profit increased 15% to $8 million. Despite these improvements, Doma still reported a net loss of $19 million, unchanged from Q1 2024. However, the adjusted EBITDA loss narrowed to $3 million from $6 million in the previous quarter.
Notably, Doma has entered into a definitive agreement to be acquired by Title Resources Group for $6.29 per share in an all-cash transaction. This pending acquisition, expected to close in the second half of 2024, would take Doma private, subject to shareholder approval and other closing conditions.
Doma Title Insurance, the 8th largest title insurer in the US, has partnered with Intellicheck to offer its independent title agents and approved attorneys a powerful ID verification tool to combat rising real estate scams. The tool, provided at no cost for Doma-insured transactions, aims to detect seller impersonation fraud, which has become a significant issue in the industry.
Key points:
- Seller impersonation fraud costs billions in losses annually
- 30% of Doma's 2023 claims involved fraud and forgery
- Intellicheck's solution is 99.9% effective in ID validation
- The tool scans over a third of the US population yearly
- Fraud claims are five times more costly than other claims
Doma Holdings, Inc. (NYSE: DOMA) reported financial results for the first quarter of 2024, showing a decrease in total revenues, retained premiums, gross profit, and adjusted gross profit. The company also reported a net loss and an adjusted EBITDA loss compared to the previous quarter. Doma's CEO highlighted the challenges in the mortgage ecosystem but expressed optimism about the potential for innovation in reducing closing costs for consumers.
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