Fitch upgrades Stewart Information Services units
Sustained growth moves rating up
Title insurer and real estate services firm Stewart Information Services Corp. (STC) announced that Fitch Ratings has upgraded the Insurer Financial Strength ratings of Stewart’s insurance subsidiaries to 'A-' from 'BBB+' with a ‘Stable’ outlook rating.
The improved rating reflects continued improvement in operating results sustained solid capitalization and increased reserve stability, Fitch Ratings said.
"Stewart’s rating increase is indicative of our steady push to simplify our operations and align our organization to our customers’ needs," added Matt Morris, CEO of Stewart. "Our most recent earnings release reported our fifth consecutive quarterly profit."