Loan Protector has been purchased by CEO Dennis Swit in a deal that is expected to close at the end of the month. LP Insurance Services LLC has agreed to buy Loan Protector Insurance Services, a division of Willis Towers Watson. Swit — who had previously tried to buy the business in 2007 and again in 2012 — will continue to lead the 150-employee business under the Loan Protector brand. “This management buyout will provide greater agility for Loan Protector, enabling greater flexibility and growth,” Swit says. “It will also allow me to focus 100 percent of my time on growing the business.” The Solon-based company provides customized, lender-placed insurance and tracking solutions that protect mortgage servicers from risk. Terms of the deal were not disclosed.
