LONDON (Oct. 2, 2006) - Stewart Title Ltd. has announced the opening of its new office in Budapest, Hungary. Stewart Title Ltd. is the primary underwriter for European transactions for Stewart Information Services Corp. (NYSE-STC).
Stewart has appointed Gabor Kovats as the Business Development Manager for Hungary. Mr. Kovats joins Stewart with nearly 10 years of experience in the financial and real estate industries. He will be responsible for introducing new business and maintaining the current business and relationships within the Hungarian market.
"Stewart Title Ltd. prides itself on providing our clients with local, experienced professionals," said Steven M. Lessack, chief executive officer, Stewart Title Ltd. "The Hungarian title insurance industry is growing and the opening of our Budapest office and the addition of Gabor will ensure that we are there to fully support and become an essential resource to our clients."
Stewart Title Ltd. has already closed several transactions in Hungary, including one that involved the Budapest Stock Exchange and another that involved a chain of retail malls.
Recently, the company celebrated the milestone of underwriting nearly €4 billion in title insured transactions within Central Europe alone.
"As the leader in Central Europe, we will continue to expand our operations and create innovative products to settle transactions efficiently and with reduced risk for our clients," concludes Lessack.
Stewart Title Ltd. provides title insurance for residential and commercial properties and an array of other country-specific products and services. Stewart's services are available throughout Europe.
The executive office in London will oversee the Budapest office in addition to the United Kingdom operations, Spain, Czech Republic, Poland, Slovakia, Slovenia, Turkey, Romania and Australia.
Stewart Title Ltd.'s Budapest Office is located at the Bank Center, Citibank Tower, Szabadsag sqr 7, Budapest 1054, Hungary and tel: +36/ 1 474 8109, fax: +36/ 1 474 8181, mobile: +36/ 70 776 5644.
About Stewart Title Ltd.
Stewart Title Ltd. is a UK insurance company, regulated by the Financial Services Authority. The company delivers a host of title indemnity products, streamlining the conveyancing and closing process and helping solicitors and attorneys creatively overcome difficult title situations. Visit www.stewarttitle.co.uk for more information.
Stewart Information Services Corp. is a 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 9,000 policy-issuing offices and agencies in the United States and international markets. Stewart also provides post-closing lender services, default management solutions, 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.