Market Overview

A.M. Best Affirms Credit Ratings of Stewart Title Group Members


A.M. Best has affirmed the Financial Strength Rating (FSR) of A-
(Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of
"a-" for the member companies of Stewart Title Group (Stewart).
A.M. Best also has affirmed the Long-Term ICR of "bbb-" for the parent
holding company, Stewart Information Services Corporation
(headquartered in Houston, TX) (NYSE:STC). Concurrently, Stewart
Title Guaranty de Mexico, S.A. de C.V.
(STGM) (Mexico) became a
member of Stewart and its FSR of A- (Excellent), Long-Term ICR of "a-"
and the Mexico National Scale Ratings of "" were affirmed. The
outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Stewart's balance sheet strength, which A.M. Best
categorizes as very strong, as well as its adequate operating
performance, neutral business profile and appropriate enterprise risk

These rating factors are derived from the group's favorable levels of
risk-adjusted capitalization and its consistently profitable
underwriting and investment results. Stewart also benefits from its
market position as the fourth largest title insurance writer in the
United States, writing business in all 50 states as well as its growing
its international presence. This global diversification helps mitigate
the concentration risk inherent to being a monoline writer of title

STGM became a member of Stewart based upon the importance of its
licensing in Mexico, which is necessary due to domestic regulations that
do not permit branches to operate in Mexico. In addition, the company is
a subsidiary of Stewart and is fully integrated into the group via
underwriting, reinsurance and claim processes, as well as through the
administrative support provided by the U.S. operations.

Positive rating action may result from positive underwriting performance
trends, accompanied by growth in risk-adjusted capitalization.
Significant deterioration in operating performance that results in a
decline in risk-adjusted capitalization may result in negative rating
actions. Negative rating action also may result should the holding
company experience liquidity issues or a significant increase in

The FSR of A- (Excellent) and the Long-Term ICRs of "a-" have been
affirmed with a stable outlook for the following members of the Stewart
Title Group

  • Stewart Title Guaranty Company
  • Stewart Title Insurance Company
  • Stewart Title Guaranty de Mexico, S.A. de C.V.
  • Stewart Title Limited

This press release relates to Credit Ratings that have been published
on A.M. Best's website. For all rating information relating to the
release and pertinent disclosures, including details of the office
responsible for issuing each of the individual ratings referenced in
this release, please see A.M. Best's
Rating Activity
web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view
Best's Credit Ratings
. For information on the proper media
use of Best's Credit Ratings and A.M. Best press releases, please view
for Media - Proper Use of Best's Credit Ratings and A.M. Best Rating
Action Press Releases

A.M. Best is the world's oldest and most authoritative insurance
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