FIRST AMERICAN TITLE INSURANCE COMPANY ACQUIRES CONNECTICUT TITLE SERVICES, INC.
January 11, 2001, SANTA ANA, Calif.
First American's relationship with CTS began shortly after the Connecticut company was founded in 1989. Over the past eleven years, CTS has acted as a servicing agent for First American - issuing binders and commitments, preparing and countersigning title policies and endorsements and providing legal services and general office support to First American's title agents throughout Connecticut. CTS has focused its efforts on conducting title searches and has developed an extensive database of title records.
Maggiola and Pitt have served as in-house legal counsel for First American on a part-time basis since 1994. Maggiola will now act as state manager for Southern Connecticut and will focus on developing new business and strengthening the company's local agent relationships.
"The acquisition of CTS strengthens our presence in Connecticut - a strong commercial and residential real estate market," said Gary L. Kermott, president of First American Title Insurance Company. "In addition to strengthening our relationship with our Connecticut agents, CTS has an extensive title plant containing valuable title information that will complement our existing data for the region and help us to automate and centralize our title searching process in Connecticut."
First American Title Insurance Company, the largest subsidiary of The First American Corporation, traces its history to 1889. One of the largest title insurers in the nation, the company offers title services through more than 800 offices and an extensive network of agents throughout the United States and abroad. The company has its headquarters in Santa Ana, Calif. Information about The First American Corporation's subsidiaries and an archive of its press releases can be found on the Internet at www.firstam.com.