Stewart Title Co. acquired a majority interest in San Juan Abstract Co. San Juan Abstract provides title guaranty and escrow services for buyers and sellers of residential and commercial property in Puerto Rico. Malcolm S. Morris, chairman and co-CEO of Stewart says the partnership "with a dynamic company...is consistent with our growth strategy. Not only should this group enhance our bottom line, but it is indicative of our continuing expansion from North America."
San Juan Abstract, owned by the Dardet family, is an integral part of the commonwealth's economy, according to Harold Hickman, Stewart's group president. Vice president Nick Dardet says he the affiliation with Stewart will bring a new level of technological expertise to the business.
Stewart Title Guaranty de Mexico is the first licensed title insurance underwriter approved by the government of Mexico for the issuance of title insurance policies in Mexico. Jaime Ysita is president of Stewart Title Guaranty de Mexico. The Mexico subsidiary's goal is to facilitate the title investigation process for issuing policies.
"It is a natural move for Stewart Title to create a title underwriting company in Mexico," says Jeannie Osborne, president and COO of Stewart International. "Having title insurance available for Mexico property will allow the movement of more foreign capital into the nation.
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