Stewart Further Strengthens Market Share with Acquisition of Greater Illinois Title

Rhea-AI Summary

Stewart Information Services Corporation (NYSE:STC) announced the acquisition of Greater Illinois Title Company (GITC), the largest title agency in Illinois. GITC, based in Chicago, operates in several states and reinforces Stewart's strategy to scale operations and enhance service offerings. This move is aimed at expanding their presence in attractive markets and leveraging GITC's customer-centric approach. Stewart's president emphasized the commitment to delivering exceptional customer service, highlighting the shared values between both companies.

Positive

• Acquisition of GITC enhances Stewart's market presence in Illinois and other states.
• GITC's established reputation for customer service aligns with Stewart's service goals.
• The move is expected to provide synergies and best-in-class products and services.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Stewart Information Services Corporation (NYSE-STC) today announced the acquisition of Greater Illinois Title Company (GITC). Headquartered in Chicago, GITC operates Greater Illinois Title, Greater Indiana Title, GIT Michigan, Greater Wisconsin Title, Greater Missouri Title, and GIT Florida Title Services, with a subsidiary operating in 18 additional states. The acquisition builds on previous investments and continues to emphasize Stewart’s mission of becoming the Premier Title Services Company.

“By joining forces with GITC, the largest title agency in Illinois, we further demonstrate our commitment to investing and gaining scale in attractive markets in order to provide best-in-class products and services to our customers,” said Stewart Group President Steve Lessack. “GITC, like Stewart, has a long history of providing exceptional customer service, a world-class team of employees and a unique blend of capabilities in the market in which they operate.”

“Over our more than 36-year history, GITC has committed to continually exceeding customer expectations in order to provide the best possible transaction experience,” said Greg Kosin, President of GITC. “As my partner, Chuck Papp, and I have gotten to know the Stewart team better, we see the same passion for customers and drive to be better each and every day. These shared values helped make the decision to join the Stewart family an easy one. Our customers, current management team and employees all will benefit from having access to the broader Stewart family of companies and we’re excited for our team to continue growing the GITC brand 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/20211221005088/en/

John Chattaway, Stewart Media Relations

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

Source: Stewart Information Services Corporation

FAQ

What is the significance of Stewart's acquisition of Greater Illinois Title Company (STC)?

The acquisition enhances Stewart's market presence and customer service offerings in Illinois and other states.

When was the acquisition of Greater Illinois Title Company by Stewart announced (STC)?

The acquisition was announced today.

How will the acquisition affect Stewart's business strategy (STC)?

The acquisition supports Stewart's strategy of gaining scale in attractive markets to improve service delivery.

What are the expected benefits of Stewart acquiring Greater Illinois Title Company (STC)?

Expected benefits include expanded market reach, increased service capability, and enhanced customer service.