HOUSTON (June 23, 2003) - Stewart Title of Delaware, a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), has purchased the assets of Attorney's Title Services, a Wilmington, Del., title agent. Key management and staff will remain with the office.
"Dick Yerger has been the 'mainframe' of title insurance in Delaware for many years," said Harry Hayes, senior vice president and district manager, Stewart Title Guaranty Co., the title insurance underwriter. "We are pleased that this acquisition will work out to benefit the customers and employees of Attorney's Title Services, and to benefit the ability of Stewart Title to provide service to the attorney community in the state."
"After 43 years in the title business and being in business for myself as a master agent, I wanted the stability of being owned by a major national underwriter," said Richard E. Yerger, president, Attorney's Title Services. "Stewart has the outstanding reputation, the financial strength, and the national coverage that will allow our office to strengthen our tradition of service to our longtime customers."
"Dick and his staff have an incredible support network, handling searches for the local real estate attorneys," said Bill Himmelreich, state manager for Stewart Title Guaranty Co. "I worked with Dick for some 15 years when we were with another underwriter - and for two more years now since he's been using Stewart. He has always been the 'go-to' guy for title insurance needs in Delaware, and we're looking forward to having him solely in our corner."
Attorney's Title Services has two offices serving the state, one at 1222 N. King St. in Wilmington, and one at 229 S. State St. in Dover. Dick Yerger will serve as office manager; Mark Yerger, former vice president, will serve as assistant manager of the offices.
Stewart Information Services Corp. is a technology driven, strategically competitive, global real estate information company. Stewart provides title insurance and related information services through more than 6,700 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, property appraisals, surveys, document preparation, property reports, background checks and online property auctions. Stewart also supplies post-closing services to lenders, automated county clerk land records and GIS for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at www.stewart.com.