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Closing

Fidelity Title, Stewart expand in new markets

Alaska and Georgia see new title operations

Fidelity National Financial recently announced it hired a new leader as it expands its presence into the state of Georgia. And Stewart Title picked up its acquisition activity to grow its presence in Alaska.

Fidelity hired Rachel Hollinger Chapman to lead its National Title Insurance of New York’s agency operation in Georgia.

“We are very fortunate to have Rachel join our Southeast Agency Division and launch the National Title Insurance of NY agency brand in Georgia,” Fidelity Executive Vice President David Baum said. “Her impressive industry track record and experience will undoubtedly lead to continued growth for FNF.”

Chapmand has more than 20 years of experience in the title industry, beginning her career in New Mexico as an account executive for direct operations at First American Title. She also launched Old Republic Exchange’s Southeastern Regional operations as its vice president and regional manager.

Stewart Title strengthened its Alaska operations with the acquisition of Yukon Title. It acquired Yukon Title’s officers and employed the Yukon Title team. Yukon Title offers title and escrow services in the Alaskan cities of Fairbanks, Anchorage and Wasilla.

“As an underwriting partner of Yukon Title for many years, we have seen firsthand the solid impact they’ve had on the Alaska community by providing exceptional title and escrow service during the home buying and selling process,” said Wyomia Clifton, Stewart Title Group Senior Vice President. “I couldn’t be more excited to welcome the talented team at Yukon to the Stewart family and look forward to working with them to further enhance the Stewart brand in Alaska.”

Yukon Title said it was excited for the acquisition and the growth it would bring for the company.

“The Yukon Title team is thrilled to become a part of the Stewart family,” Yukon Title CEO Beverly Floerchinger said. “For more than 25 years, our commitment has been to provide our customers with service and expertise they can rely on, and now with Stewart’s financial strength and resources, our team can grow and continue to deliver for our Alaska customers.”

These expansions come at a time of growing overall premium volume for the title industry. The title industry experienced quite a rush in the second quarter of 2020 with $4.18 billion in title insurance premiums generated, an increase of 8% year-over-year, according to a report from the American Land Title Association.

ALTA’s report shows Fidelity held the highest market share in the first half of 2020 at 32.7% and Stewart followed, holding the No. 4 largest share at 10.1%.

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