Stewart Expands Presence in Northern California

Rhea-AI Summary

Stewart Title has acquired Stewart Title of Sacramento (STS) and Stewart Title of Placer (STP), enhancing its presence in Northern California. This acquisition adds 13 branches and strengthens the company's market position in the Greater Sacramento area, which has been served by these independent agents for over 40 years. Leaders from both organizations highlighted the synergy and potential for improved service and customer experience. Stewart aims to leverage combined expertise and digital tools for superior title and escrow services, furthering its goal to be a premier title services provider.

Positive

• Acquisition of STS and STP expands Stewart's presence in Northern California.
• Addition of 13 branches strengthens market position.
• Experience of STS and STP teams enhances service quality.

Negative

• None.

Acquisition Adds Two Independent Branded Agents in Sacramento Area

HOUSTON--(BUSINESS WIRE)-- Stewart Title today announced the acquisition of Stewart Title of Sacramento (STS) and Stewart Title of Placer (STP), independent branded agents of Stewart Title Guaranty Company, which have served the Greater Sacramento area for more than 40 years throughout Sacramento, Placer, El Dorado and Yolo counties. With the addition of their 13 branches, Stewart continues to build a strong market presence in Northern California, leveraging the combined strength of Stewart to better serve Residential, Builder, Commercial and Lender customers.

“The addition of the STS and STP teams to the broader Stewart family will significantly strengthen our position in Northern California,” said Stewart Group President Steve Lessack. “The teams have extensive experience and strong local relationships that make them an ideal fit with our current Direct Operations throughout Northern California. Together we can provide our customers a best-in-class transaction experience.”

“By joining forces with Stewart Title, we are taking the next step in ensuring our ability to provide industry-leading and cost-effective service to our customers. With our combined team’s expertise and suite of digital tools and technologies, we’ll be able to provide superior title and escrow services and solutions across the region,” said Bob Baker, President and Chairman of the Board of STS and STP. “We’re excited to be part of the continued growth and success of the Stewart Title brand in Northern California and look forward to a bright future together.”

About Stewart

Stewart (NYSE-STC) is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage industry, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we are dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual success. Learn more at stewart.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210921005177/en/

STEWART INFORMATION SERVICES CORP.

John Chattaway, Stewart Media Relations

(713) 625-8180; mediarelations@stewart.com

Source: Stewart Information Services Corporation

FAQ

What is the significance of the Stewart Title acquisition of STS and STP?

The acquisition enhances Stewart's market presence in Northern California by adding 13 branches and strengthening its service capabilities.

How many branches did Stewart Title acquire from STS and STP?

Stewart Title acquired 13 branches from Stewart Title of Sacramento and Stewart Title of Placer.

What does Stewart Title aim to achieve with the acquisition of STS and STP?

Stewart Title aims to provide a best-in-class transaction experience and improve title and escrow services through combined expertise and digital tools.

In what regions do STS and STP operate?

STS and STP operate in the Greater Sacramento area, including Sacramento, Placer, El Dorado, and Yolo counties.

What is the stock symbol for Stewart Information Services Corp?

The stock symbol for Stewart Information Services Corp is STC.