Stewart Information Services
STC
Industrials
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Stewart Information Services has a documented pattern of regulatory violations across multiple state insurance departments. ViolationTracker documents a 2019 enforcement action by the Washington State Office of the Insurance Commissioner, resulting in a $10,050 penalty for insurance violations. This record is part of a broader pattern of state-level regulatory actions concerning title insurance practices.
The company was also a central figure in a significant federal antitrust enforcement action. In 2019, the Federal Trade Commission moved to block Fidelity National Financial's proposed $1.2 billion acquisition of Stewart, alleging the merger would violate antitrust laws by significantly reducing competition in the title insurance market. The FTC's administrative complaint stated the executed merger agreement violated Section 5 of the FTC Act. The challenge led to the termination of the merger agreement. This pattern of conduct—spanning state insurance compliance and federal antitrust scrutiny—indicates systemic issues with regulatory adherence.
Research Sources
8 organizations
Related Exclusions
Wondering what we do invest in?
The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.