Chicago Title: 162 Years and Beyond- A History of Chicago Title Insurance Company part 3 of 5

This is a repost from one of my escrow officers blogs- Theresa Bolin-Alberico

162 YEARS AND BEYOND!
This is part 3 of a 5 part series on the History of Chicago Title Insurance Company

Chicago Title and Trust Company dates back more than 162 years through the succession of several firms and corporations that were engaged in the abstract and title business in Cook County, Illinois.

SAFECO Title
Acquired on January 21, 1987, Chicago Title and Trust Co. announced the purchase of SAFECO Title Insurance Co., a national title insurer based in california with a history dating back to 1908. In 1988, SAFECO changed its name to Security Union Title Insurance Co., a name derived from Union Title & Abstract co. and Security Title and Guarantee Co., two predecessor companies of SAFECO Title.

Ticor Title Companies
Purchased on March 8th, 1991 the Ticor Title companies were acquired by Chicago Title and Trust Company. The Ticor Title group is now composed of two companies; Ticor Title Insurance Company and Ticor Title Guarantee Co. Ticor Title's heritage can be traced to 1893 with the merger of two abstract comapnies in Los Angeles.

In 1992, Chicago Title and Trust Company and Chicago Title Insurance Company moved their corporate headquarters to the new 50-story post modern Chicago Title and Trust Center, located at 171 North Clark Street in Chicago.

Moving Forward
in 1995, the company restructured its financial services businesses under a new name: Alleghany Asset Management Inc. Alleghany Asset provides mutual fund and investment management and advisory services. It was composed of Montag & Caldwell, Inc. (Atlanta), The Chicago Trust Co. (also established in 1995) and Chicago Deferred Exchange Corp. Alleghany Asset had total assets under management in excess of $21.3 billion.

During this time, Chicago Title and Trust Company (CT&T) was the source of real estate services, providing title insurance, escrow and closing services as well as appraisal, credit and flood certification products through a network of more than 300 offices and approximately 3,800 agents nationwide. CT&T also is the parent company of Chicago Title Flood Services inc. of Arlington, Texas; Chicago Title Credit Services Inc. of Kingston, N.Y.; and Chicago Title Market Intelligence Inc. of Hopkinton, Mass.

During 1997, CT&T celebrated its 150-year anniversary. Our company was honored by the city of Chicago and the Illinois State historical Society, as wellas the state of Indiana.

In October 1997, CTT introduced CastleLink, the company's single source mortgage service for major national mortgage lenders.

On December 17, 1997, Alleghany Corp. announced its intention to establish the title insurance and real estate-related services businesses conducted by CT&T as an independent, publicly traded company through a spinoff to Alleghany stockholders.


Part Four Coming Soon!!!

Theresa Bolin-Alberico
Senior Escrow Officer
Chicago Title Insurance Company- Gilbert, AZ
480.539.6854