HOUSTON (May 28, 2002) - Stewart Title Co., a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), announced that its network of issuing offices has grown to 6,000 with the addition of Inter-County Title Company of El Dorado County, in Placerville, Calif.
Inter-County Title is believed to be the oldest continuously operated title company in California, beginning operations in 1891 during the days when mining operations still thrived in the Sierra Nevada foothills. Placerville is a center for lumber, agriculture, light manufacturing, tourism and recreation and is famous for its vineyards and production of fine wines.
"Stewart is a 'national local' company, providing service to our national and local customers through our growing network of quality independent agents and affiliated offices located throughout the United States and in several international markets," said Stewart Morris Jr., Stewart Title Co. president, and president and co-CEO, Stewart Information Services Corp. "Our California agents are vital to Stewart's success, and we are proud to bring this successful and respected company into our family of issuing offices."
"Stewart has a reputation of integrity within the title insurance industry, and that's what I want," said Tom Chandler, president and general manager, Inter-County Title. Chandler has been with the company for 32 years. "Stewart also has the best underwriting staff in California, and it is known as the underwriter that is ready to work with independent agents."
Roy Frank, California district manager for Stewart Title, pursued Chandler for several years to issue title insurance with Stewart. "Inter-County Title is a homegrown company with a longtime commitment to the people of El Dorado County. We are pleased to make them part of the growing family of California independent agents," said Frank.
"Reaching 6,000 issuing locations - including 554 affiliated locations - in our network is a significant achievement," said Malcolm Morris, chairman and co-CEO, Stewart Information Services Corp. "It demonstrates our goal to carefully expand our national network of the best in title insurance, escrow and closing services to our customers - the real estate agents, brokers, attorneys, lenders, developers, builders and others who depend on Stewart."
Stewart Information Services Corp. (NYSE-STC) is a technology driven, strategically competitive, global real estate information company. Stewart provides title insurance and related information services through more than 6,000 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, property appraisals, surveys, document preparation, property reports and background checks. Stewart also supplies post-closing services to lenders, automated county clerk land records and GIS for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at www.stewart.com.