LandAmerica Financial Group Inc. filed for Chapter 11 bankruptcy protection Wednesday as part of a deal that would turn over three of its title insurance subsidiaries to two of Fidelity National Financial Inc.'s title insurance companies for $298 million.

LandAmerica said in a press release that the Chapter 11 filing will help it facilitate the closing of the sale of its three title underwriting subsidiaries in a stock-purchase agreement.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.