Market Share Reports
Last month, the 1Q report of title insurance industry market share was released and I am proud to announce that First National Title Insurance Company ranked as the 16th largest underwriter in the country in terms of total revenue. That is a jump up from 18th at year end 2013. I can attribute this growth to two factors: An increase in independent agent remittances and doing business in Texas and Arizona – two of the best real estate markets in the country. After a very busy 2Q, I am confident we will continue to see an improvement in our national market share. Thanks to you – our independent agents that do business with an underwriter they “know, like and trust.”
Effective July 1, 2014, First National Title Insurance Company became a member of the American Title Reinsurance Alliance (ATRA) and now has reinsurance coverage from Lloyds of London. This milestone initiative provides a new level of financial strength and stability to First National Title’s reinsurance capabilities. Lloyds of London is rated A “Excellent” by A.M. Best, A+ by S & P and A+ by Fitch. With this enhanced coverage, we are evaluating our current Over Limits Authorization procedures and will make the necessary changes as required.