Fidelity National Financial, the title insurance giant, announced Monday that it is growing its empire even more by acquiring a majority ownership stake in Title Guaranty of Hawaii, the oldest title insurance company in the state of Hawaii.
As part of the deal, the current owners of Title Guaranty, the Pietsch family, will maintain a small ownership stake in the company.
Title Guaranty was founded in 1896 and currently more than 300 employees in branches providing title insurance and real estate closing services throughout the state of Hawaii.
In a release, Fidelity said that the acquisition is the next step in its 30-year relationship with Title Guaranty.
“We are excited to formally welcome Title Guaranty of Hawaii into the FNF family,” said Fidelity National Chairman William Foley. “We have a 30+ year relationship with the company and we expect the same level of professionalism and customer service to continue as Title Guaranty joins our direct operations.”
Fidelity also said that Title Guaranty will continue to be “closely aligned” with Chicago Title, one of Fidelity’s subsidiaries, as it formally becomes part of the company.