First American Financial’s principal subsidiary, First American Title Insurance ...


January 14, 1998, SANTA ANA, CALIFORNIA

The First American Financial Corporation (NYSE: FAF) announced that its principal subsidiary, First American Title Insurance Company, has acquired the operations of Service Standard Title and Trust, Ltd. The announcement came from Parker S. Kennedy, president of First American.

Service Standard is located in Charlotte Amalie, St. Thomas, in the U.S. Virgin Islands, and presently serves the three main islands of St. Thomas, St. John and St. Croix. The company was founded in 1987 by attorney Arthur Briggs, and issues title insurance policies, as well as assists Realtors and lawyers with real estate closings. The company will retain its current name, with Thada M. Davis serving as branch manager of the three-employee office. Davis has served as president of the company for the past three years.

According to Tuey Murdock, Caribbean operations manager, the acquisition will allow Service Standard to expand into English-speaking jurisdictions in the Caribbean, while enabling First American to better develop and expand its business in the U.S. Virgin Islands.

"This purchase demonstrates First American’s commitment to our national and Caribbean clients to be the title company in the Caribbean in the 21st century," said Murdock.

The First American Financial Corporation, based in Santa Ana, California, is the nation’s leading provider of real estate-related financial and informational services. The corporation’s subsidiaries include First American Title Insurance Company, a national and international title insurer; First American Real Estate Information Services, Inc., which offers tax monitoring, credit reporting, flood certification, mortgage loan servicing systems and property information services nationally; First American Home Buyers Protection Corporation, a home warranty company; and First American Capital Management, an investment firm. The corporation also operates First American Trust Company and First Security Thrift Company in Southern California. First American Financial has more than 10,000 employees in over 400 branch offices in the United States and abroad. Information about the company’s subsidiaries and an archive of its press releases can be found at http://www.firstam.com on the Internet.

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