Stewart Acquires Title Associates Inc. of New York City
|February 17, 2004|
HOUSTON, /PRNewswire-FirstCall/ -- Stewart Information Services Corp. (NYSE: STC - News; Stewart) has acquired Title Associates Inc. of New York City. The terms of the acquisition were not disclosed. Key management and staff will remain with the office.
"There is no finer team than Title Associates and we are happy they have joined Stewart," said Malcolm S. Morris, chairman and co-chief executive officer, Stewart Information Services Corp. "Together we will significantly expand our presence in the commercial market in New York City."
Title Associates was founded in 1987 by principals Jeff Gurren and Tom Vinci. The firm will operate as a division of Stewart Title Insurance Co., a wholly owned Stewart subsidiary. Gurren will serve as president and Vinci as executive vice president of the division.
"Title Associates is the pre-eminent title insurance agency in New York City," said John Welling, president, Stewart Title Insurance Co. "We are pleased to have this key player on board with us in this crucial market."
Source: Stewart Information Services Corp.