Title insurance firm to tap Hong Kong property market potential The Director-General of Investment Promotion, Mr Mike Rowse, welcomed the opening of a local branch by a US-based firm, First American Title Insurance Company. Photograph shows Mr Rowse (right), the Chief Executive of the Hong Kong branch of First American, Ms Hilary Cordell and the Senior Underwriter of the company, Mr Philip Walden (left).

Title insurance is now being introduced in Hong Kong after US-based First American Title Insurance Company officially opened its Hong Kong Branch yesterday (June 28).

Title insurance provides buyers and lenders cover against a property having a defective title and facilitates property transactions.

Mrs Rosanna Ure, Director, Hong Kong Economic and Trade Office (HKETO) in Canada welcomed the company's operations in Hong Kong.

"It was due to no small efforts by the investment promotion teams both in Canada and Hong Kong that First American was able to establish its business presence successfully in Hong Kong.

"First Canadian Title, a Toronto-based and wholly owned subsidiary of First American, played a pivotal role in the initial planning and development of this project.

"Its team had the foresight in targeting business opportunities in the Hong Kong property market. Throughout the process, the Investment Promotion Unit of the HKETO (Canada) has offered advice and assistance to First Canadian Title. We are glad that months of hard work has culminated in the successful launch of the company's business in Hong Kong," Mrs Ure said.

The Chief Executive of the Hong Kong branch of First American, Ms Hilary Cordell, said: "We are delighted to open our door for business. We are helping buyers, lenders and their lawyers complete transactions much more quickly, with greater certainty, at lower cost and with less risk. There are huge benefits for the Hong Kong market."

The Director-General of Investment Promotion, Mr Mike Rowse noted that the opening for First American's Hong Kong branch demonstrated the firm's continuing commitment to expanding its international base into favourable jurisdictions.

Mr Rowse said: "Title insurance is an important development for the Hong Kong property market facilitating market liquidity.

"Like other international firms establishing business presence here, First American will surely benefit from our highly developed services sector, especially legal and financial services, which are backed up by decades of expert knowledge and know-how," he said.

The Hong Kong Economic and Trade Office, which serves as a link between Hong Kong and the Canadian business community, was opened in 1991. Its main function is to facilitate exchanges between Hong Kong and Canada, with a particular focus on trade and economic relationships.

For further information please contact Chief Information Officer, Jean Chan at 416-924-5544/[email protected] or Senior Information Officer, Elison Chu, [email protected].








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