Charlottesville, Va., Title Insurance Provider Becomes
Chicago Title Direct Operation
CHICAGO, Jan. 14 /PRNewswire/ -- Chicago Title Corporation (NYSE: CTZ)
announced today that its primary title insurance subsidiary, Chicago Title
Insurance Company (CTIC), has purchased the assets of Lawyer's Title/Blue
Ridge Agency, Inc. The agency -- which conducts business in the city of
Charlottesville, Va., and Albemarle, Greene, Madison, Fluvanna, Nelson and
Louisa counties -- will operate as Blue Ridge Title, a division of CTIC. The
terms were not disclosed.
The president of Blue Ridge Agency, Brinson C. White, will become the
manager/counsel for Blue Ridge Title. The Blue Ridge Agency staff will also
become employees of Chicago Title, and will continue to be headquartered in
Charlottesville. "By joining with Chicago Title, we will be able to provide
our current and future customers with even better title insurance and real
estate services," said White. "Our alignment with Chicago Title will allow us
to grow faster than we could on our own."
"This acquisition will strengthen Chicago Title's position in central
Virginia, while adding the expertise of the Blue Ridge Agency," said John Rau,
president and chief executive officer of Chicago Title. "Brinson White and
his staff have been leading providers of title insurance in this area for the
last 20 years -- I'm delighted to have them as a part of the Chicago Title
team."
Chicago Title Corporation, through its subsidiaries, provides title
insurance, escrow and closing services, as well as property valuation, credit
information, flood compliance, property information/inspections and default
services through a network of more than 300 offices and approximately
3,800 agents nationwide. Chicago Title Corporation's title insurance
subsidiaries -- including Chicago Title Insurance Co. -- issue approximately
one in every five title insurance policies in the United States. Other real
estate-related services subsidiaries include Chicago Title Flood Services
Inc., Chicago Title Credit Services Inc., Chicago Title -- Market Intelligence
Inc., Chicago Title Field Services Inc. and Consolidated Reconveyance, a
division of Chicago Title Insurance Co.
The statements made in this press release contain certain forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Act of 1934 that involve a number of
uncertainties and risks that could significantly affect current plans and
anticipated actions and Chicago Title's future financial condition and
results. In addition to the matters described in this press release, risk
factors listed from time to time in Chicago Title's reports and filings with
the Securities and Exchange Commission, including the Information Statement
included in its Registration Statement on Form 10 (File No. 1-13995) and
furnished to the stockholders of Chicago Title's former parent Alleghany
Corporation in connection with the spin-off of Chicago Title by Alleghany, may
affect the results achieved by Chicago Title.
SOURCE Chicago Title Corporation
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Related links:
http://www.ctt.com
CONTACT:
Media, Stephen Flanagan, 312-223-2959, or
Bill Scott, 312-223-5030, or Analysts, Mike Powers, 312-223-4783,
all of Chicago Title Corporation
NOTE TO EDITORS: For more information on Chicago Title
Corporation via fax, free of charge, dial 800-PRO-INFO and enter
the ticker "CTZ." For further information on the Chicago Title
Corporation's products and services, visit our web site at
http://www.ctt.com
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