Stewart Title ® Celebrates 120 Magnificent Years
HOUSTON--(BUSINESS WIRE)-- Stewart Title is celebrating its 120th anniversary in business. Founded in Galveston, TX in 1893, the company is now led by Matt Morris, the great-great nephew of founder, Maco Stewart. The anniversary year kicked off in January 2013 with recognition as a Texas Treasure at the State Capitol, and will continue throughout the year.
Three generations of Morris' gathered at the historic Galveston office, the original Stewart Title headquarters, to commemorate Stewart Title's 120th anniversary. (Photo: Business Wire)
"The longevity and strength of Stewart Title is a testament to those who have worked tirelessly to expand and pursue the vision of our founders," said Matt Morris. "We've thrived since our beginnings in Galveston in 1893, and are now providing real estate services around the world. We are grateful to have learned from more than 100 years of history and from that platform, we are well positioned to offer the highest-quality customer service throughout the country and around the world for the next 100 years."
Founder Maco Stewart, son of Texas Constitutional Convention member and eminent jurist and legislator Judge William H. Stewart, founded the company with his purchase of the Gulf City Abstract Company. Stewart Title Guaranty Company was incorporated in 1908 based on foundation records from Gulf City Abstract.
Beginning in 1910, Stewart Title Guaranty Company and its subsidiary, Stewart Title Company (formerly Stewart Abstract Company), began to expand its office network throughout Texas. The replacement of abstracts with title insurance occurred gradually, finally gaining statewide acceptance in Texas after World War II. By 1960, the company had 180 issuing offices in seven states. Today, Stewart has more than 7,500 policy-issuing offices and agencies offices around the U.S. and the world.
In 1970, Stewart Information Services Corporation (SISCO) was formed to support the company's expansion and diversification. In 1972, SISCO became a publicly-traded stock on the NASDAQ exchange, and in 1994 Stewart Information Services Corporation was listed on the New York Stock Exchange under ticker symbol STC.
"A lot has happened since we opened our doors in 1893: booms, busts, wars and moonwalks," said Glenn Clements, group president, direct operations. "We've adapted to changes, creating tools to improve real estate transactions that have changed the industry along the way, and I believe our dedication to providing exceptional customer service, expertise and peace of mind to all our customers is what has made us so successful for all these years."
Stewart Title Company is a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), a customer-focused, global title insurance and real estate services company offering products and services through our direct operations, network of approved agencies and other companies within the Stewart family. Stewart provides these services to homebuyers and sellers; residential and commercial real estate professionals; mortgage lenders and servicers; title agencies and real estate attorneys; home builders; and United States and foreign governments. Stewart also provides loan origination and servicing support; loan review services; loss mitigation; REO asset management; home and personal insurance services; tax-deferred exchanges; and technology to streamline the real estate process. Stewart offers personalized service, industry expertise and customized solutions for virtually any type of real estate transaction, and is the preferred real estate services provider. More information can be found at http://www.stewart.com/news.
All trademarks are the property of their respective owners.
KEYWORDS: United States North America Texas
The article Stewart Title® Celebrates 120 Magnificent Years originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.