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UPDATE 1-Title insurer Stewart posts narrower Q1 loss
April 29, 2010 / 11:52 AM / 8 years ago

UPDATE 1-Title insurer Stewart posts narrower Q1 loss

* Q1 loss/shr $1.59 vs loss/shr $2.07 yr ago

* Q1 aided by higher agency income

April 29 (Reuters) - U.S. title insurer Stewart Information Services Corp (STC.N) posted a narrower quarterly loss, as revenue from its agency operations rose 21 percent.

The Houston-based company lost $29.0 million, or $1.59 a share, for the first quarter, compared with a loss of $37.6 million, or $2.07 a share, a year ago.

The company said it had revenue of $202.6 million from agency operations, compared with $166.8 million in the year-ago quarter.

Bigger rival Fidelity National Financial Inc (FNF.N) posted a higher profit for the quarter last week, while First American Corp (FAF.N) is scheduled to announce results later on Thursday.

Stewart Information shares closed at $14.39 Wednesday on the New York Stock Exchange. (Reporting by Anurag Kotoky in Bangalore; Editing by Vinu Pilakkott)

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