Holland-based Title Agency One of Michigan's Largest
CHICAGO, Dec. 6 /PRNewswire/ -- Chicago Title Corp. (NYSE: CTZ) announced
today that two subsidiary companies have jointly acquired The Title Office
Inc., a leading title insurance agency based in Holland, Mich. The
announcement was made jointly by Chris Abbinante, senior vice president and
Eastern Division manager of Chicago Title, and Ed Marsilje, former president
and owner of The Title Office.
The Title Office has 40 offices, in the 35 counties, throughout Michigan.
The company has strong operations in its western Michigan home base,
especially the areas around Holland, Grand Rapids and Muskegon. Ed Marsilje
will remain with the company as a senior adviser.
"This most recent strategic transaction dramatically strengthens Chicago
Title's presence in Michigan, which is one of the most vital states in our
industry. Michigan is the seventh largest title revenue state in the
country," said Abbinante. "It was imperative that we find a way to increase
our market share in this state. The acquisition of The Title Office will
certainly help us achieve that goal."
"The Title Office has a strong customer commitment," Abbinante continued.
"Now that it is part of the Chicago Title family, our goal will be to
strengthen that commitment as we provide enhanced service to our customers in
this very dynamic market."
Chicago Title provides title insurance, escrow and closing services as
well as property valuation, credit information, default management and flood
compliance products through a network of more than 340 offices and
approximately 4,100 agents nationwide. Chicago Title's subsidiaries --
including Chicago Title Insurance Co., Ticor Title Insurance Co. and Security
Union Title Insurance Co. -- issue approximately one in every five title
insurance policies in the United States. Subsidiaries furnishing other real
estate-related products include Chicago Title Flood Services Inc., Chicago
Title Credit Services Inc., Chicago Title -- Market Intelligence Inc. and
Chicago Title Field Services Inc.
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 may affect the results achieved by
Chicago Title.
Note: For further information on Chicago Title's products and services,
visit the company's web site at http://www.ctt.com . Information about The
Title Office can be found at http://www.titleoffice.com .
SOURCE Chicago Title Corp.
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Related links:
http://www.titleoffice.com
CONTACT:
Media, Steve Flanagan, 312-223-2959, or
Analysts, Toshie Davis, 312-223-4788, both of Chicago Title Corp.
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