NEW YORK, Jan. 5 /PRNewswire/ -- Ticor Title Insurance Co. announced
today the completed merger of Ticor Title Guarantee Co., its New York-based
subsidiary, into Ticor Title Insurance Co.
"This merger joins together the expertise and strengths of two premier
title insurance companies, which will benefit the employees, customers and
agents of both companies," said Bajan Koepeczi-Deak, executive vice president,
Ticor Title Insurance Co., and Northern New York area manager. Koepeczi-Deak
also serves as the company's New England Area manager.
"Through this merger, Ticor Title is well-positioned to offer a spectrum
of services designed to meet the needs of our residential, commercial and
industrial customers in New York and throughout the country," added Steve Day,
vice president, Ticor Title Insurance Co., and Southern New York area manager.
Bajan Koepeczi-Deak will remain executive vice president and Northern New
York area manager, based out of Buffalo, N.Y., and Steve Day will remain vice
president and Southern New York area manager based out of Manhattan, N.Y.
Ticor Title is a leading title insurer that has been nationally recognized
since the merger of two abstract companies in Los Angeles in 1893. Title
Guarantee and Trust Co., Ticor Title Guarantee Co.'s predecessor, dates back
more than 100 years in New York state. Chicago Title and Trust Co. acquired
the Ticor Title Companies (Ticor Title Insurance Co. and Ticor Title Guarantee
Co.) on March 8, 1991.
Ticor Title has 12 offices and a network of full service agents throughout
New York state and has 64 offices nationwide. Ticor Title Insurance Co. is
the dominant title insurance provider throughout central and western New York.
At year-end 1996, combined statutory policyholders' surplus for both companies
was $70.4 million.
Ticor Title Insurance Co. has claims-paying ability ratings of "A" or
higher from Standard & Poor's, Duff & Phelps Credit Reporting Co., Moody's
Investors Service, Demotech Inc. and Lace Financial Corp. Additionally,
Demotech's commercial real estate recommendation for Ticor Title is "Highly
Recommended."
Ticor Title Insurance Co. is a member of the Chicago Title and Trust
Family of Companies, the source of real estate services, providing title
insurance, escrow and closing services, as well as appraisal, credit and flood
certification products through a network of more than 300 offices and
approximately 3,700 agents nationwide. Chicago Title and Trust's title
insurance subsidiaries -- including Chicago Title Insurance Co., Ticor Title
Insurance Co. and Security Union Title Insurance Co. -- together issue
approximately one in every four title insurance policies in the United States
with annual gross revenues in excess of $1.3 billion.
SOURCE Ticor Title Insurance Co.
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Related links:
http://www.ctt.com
CONTACT:
Ben Sanders of Ticor Title Insurance Co.,
315-342-2184; or Stephen Flanagan of Chicago Title and Trust Co.,
312-223-2959
CNOC: http://www.prnewswire.com or fax, 800-758-5804, ext.
117465
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