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Industry News

Stewart Title Ltd. Opens New Zealand Branch

August 2, 2007

LONDON -- Stewart Title Ltd., the primary underwriter for the Australian and European transactions for Stewart Information Services Corp. (NYSE:STC), has announced the opening of a New Zealand Branch. The office for the branch will be located in Auckland.

“There has been a need for some time now to provide lender title insurance for Stewart’s Australian customers also operating in New Zealand,” says Anna Macdonald, general manager, Stewart Title Limited, Australia. “The establishment of the New Zealand branch enables Stewart’s Australian branch to service lenders doing business in both Australia and New Zealand, as well as to introduce title insurance to the New Zealand market.”

Stewart Title has appointed Megan Fraser as business development manager for New Zealand. Ms. Fraser joins the New Zealand branch with nearly six years of experience working with Stewart in the Canadian division, prior to which she worked as a property lawyer in Canada. She will be responsible for the introduction of title insurance to lenders and property practitioners.

“Stewart Title introduced the residential purchaser policy into the Australian market in January 2004 and since that time, the product has gained acceptance from property practitioners for the benefits that it provides to their clients and their practices in reducing risk in the property transaction,” says Steven Lessack, chief executive officer, Stewart Title Limited. “Due to the similarities between Australia and New Zealand, it is expected that similar acceptance will be gained in the New Zealand market.”

Stewart Title will offer residential and commercial lender and purchaser title insurance in New Zealand. The products will be marketed to lawyers and conveyancers facilitating property transactions and mortgage lenders.

The New Zealand branch will be overseen by the Australian branch from its head office in Sydney.

Source: Stewart Information Services Corp.

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