From 1890 to 1956
Stewart Information Services Corporation (SISCO), Stewart Title of California's
parent company has a rich history dating all the way back to the late 1800's.
Stewart Title originated in Texas, where the corporate headquarters are still located.
Stewart Title Guaranty was founded by the family of the present co-chief executive officers
of Stewart Information Services Corporation, Carlos and Stewart Morris, and through the years,
the Stewart and Morris families have directed the course of the company.
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For some years the Stewarts had been engaged in the abstract business in Galveston and Beaumont.
In the 1890's Maco Stewart, a prominent lawyer, entered into a law partnership with
his brother and purchased several abstract plants in Galveston. For a number of years,
this organization continued to make abstracts while the partnership practiced law.
The first title insurance in Texas was written, so far as can be ascertained,
in 1905 by the partnership known as Maco and Minor Stewart Title Guarantee Company.
Two years later the Texas legislature passed the act permitting incorporation for the purpose
of guaranteeing land title and liens. The Stewart brothers took advantage of this new law
and incorporated under the name of the Stewart Title Guaranty Company. In 1929 the
Texas legislature enacted a law placing all title insurance companies doing business in the state
under the Board of Insurance Commissioners. Under the new law, the Board was given the power
to promulgate rules, rates, and regulations governing the industry and to prescribe forms
for its use in the writing of title insurance. The effect of this act was to stabilize the business
for the benefit of the general public by strengthening the companies and throwing every protective care
around their financial structures. The 1929 Title Insurance Act prohibits
commissions, rebates, discounts, etc. Penalties for violations are heavy and provide for forfeiture of charter.
Stewart Title flourished until it had offices and agents in every principle city in the state of Texas.
W.C. Morris, who ran the company for many years, believed in the agency system and set up all
the Stewart offices as agents. This growth helped the profitability of the company. Carlos Morris,
who followed in the footsteps of his father, W.C. Morris, established the District system, began
the writing of the underwriting manuals and set up the offices as profit centers with portions
of the profits going to the managers and the other personnel in each office. Stewart Morris,
among his many other contributions, has greatly refined the profit center system and developed the
Ten Standards for operating an office. He continues to work with Region Management in Region H and
on expansion in Europe and Stewart Title Insurance Company of the United Kingdom.
From 1956 to present
In 1956, Stewart Title made its first entrance into markets outside of Texas. In 1970,
Stewart Information Services Corporation (SISCO), our holding company, was established so that
new business, new opportunities and new challenges might be met. With the well-established STGC
as its principal subsidiary, SISCO held a public offering of its stock in March 1972. The year 1975
marked a major turning point in the company when Carlos and Stewart Morris purchased Class B stock
control from their cousin, Maco Stewart III. The acquisition of controlling stock enabled Carlos and
Stewart to implement new ideas and new goals for the growth of the company. Through their
determination and vision, the company has grown to over 3700 issuing locations insuring property in
50 states, the District of Columbia, Guam, Saipan, Canada, and Mexico.
As Stewart Title moves into the 21st century, Malcolm Morris and Stewart Morris, Jr. are pursuing
new opportunities. Malcolm Morris, President of Stewart Title Guaranty Company, supervises the
National Legal Department and National Title Services Department of Stewart Title Guaranty Company,
serves on the Board of Stewart Title Insurance Company of New York, oversees our Canadian operations,
works with legislative and regulatory matters, works on acquisitions and works with Region G Management
within Stewart operations. Stewart Morris, Jr., President of Stewart Title Company, spearheads the
development of Real Estate Information Services that can be provided to domestic and international
clients through Landata, Inc. In addition, Stewart also guides software development through Landata,
works with management and Regions B through F, and Region R on title business, and works with Stewart
Mortgage Information (SMI) to develop new products and services to to the real estate industry.
Today
Stewart Title is a full service state-of-the-art real estate closing services company providing
title insurance for all types of residential and commercial transactions. In addition to issuing
policies of title insurance, Stewart Title offers a myriad of related services including, among other things,
escrow services, foreclosure services, various property searches and more. The Company also offers title software
solutions for real estate professionals including 24/7 access to orders via SureClose®.
Stewart was included in FORTUNE magazine's list of the 100 fastest growing companies in 1998
and again in 1999. In October 2001, Stewart was added to the Standard & Poor's SmallCap 600.
In 2002, Stewart entered the FORTUNE 1000 list at 941, moving up to 732 on the 2003 list.
Also in 1999, 2002, 2003 and 2004, Stewart made Forbes Platinum 400 list of America 's best-performing
big companies. In 2006 Stewart was named one of FORTUNE's "America's Most Admired Companies,"
ranked as number four on the "Mortgage Services" industry list. Stewart was the highest-ranking
title insurance company on the list, receiving high marks for its use of corporate assets and
financial soundness.
Stewart Title has earned the confidence of its customers through unmatched customer satisfaction
achieved through quality service, high ethical standards, proven stability and excellence in education
and employee accountability. With well-established and well-staffed offices throughout California and the nation,
Stewart Title is particularly well positioned to serve the needs of real estate professionals
from coast to coast and beyond. More information about Stewart and its affiliates can be found at www.stewart.com.
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