LONDON (July 31, 2007) - Stewart Title Ltd., the primary underwriter for the Australian and European transactions for Stewart Information Services Corp. (NYSE-STC) has announced the opening of a New Zealand Branch. The office for the branch will be located in Auckland.
“There has been a need for some time now to provide lender title insurance for Stewart’s Australian customers also operating in New Zealand,” says Anna Macdonald, general manager, Stewart Title Limited, Australia. “The establishment of the New Zealand branch enables Stewart’s Australian branch to service lenders doing business in both Australia and New Zealand, as well as to introduce title insurance to the New Zealand market.”
Stewart Title has appointed Megan Fraser as business development manager for New Zealand. Ms. Fraser joins the New Zealand branch with nearly six years of experience working with Stewart in the Canadian division, prior to which she worked as a property lawyer in Canada. She will be responsible for the introduction of title insurance to lenders and property practitioners.
“Stewart Title introduced the residential purchaser policy into the Australian market in January 2004 and since that time, the product has gained acceptance from property practitioners for the benefits that it provides to their clients and their practices in reducing risk in the property transaction,” says Steven Lessack, chief executive officer, Stewart Title Limited. “Due to the similarities between Australia and New Zealand, it is expected that similar acceptance will be gained in the New Zealand market.”
Stewart Title will offer residential and commercial lender and purchaser title insurance in New Zealand. The products will be marketed to lawyers and conveyancers facilitating property transactions and mortgage lenders.
The New Zealand branch will be overseen by the Australian branch from its head office in Sydney.
The Stewart Title Ltd. Auckland office is located at Level 8, Worldwide Tower, 8 Whitaker Place, Auckland, New Zealand, tel: +64 (9) 306 8853 and fax: +64 (9) 358 8103.
About Stewart Title Ltd.
Stewart Title Ltd. is a specialist insurance company providing protection to property owners and lenders against risks inherent in the real estate transaction. Stewart Title Limited is wholly owned by Stewart Title Guaranty Co., the primary underwriter for Stewart Information Services Corp. In Australia, Stewart Title Limited has a license to operate in all States and Territories and offers a full range of both residential and commercial title insurance products to purchasers, existing owners and lenders. The company provides solutions that enhance the conveyancing and lending processes without transforming them. To find out more, visit www.stewartau.com
Stewart Information Services Corp. is a customer-oriented, technology-driven, strategically competitive, real estate information and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries through more than 9,500 policy-issuing offices and agencies in the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at www.stewart.com .
# # #