Archive for the ‘Financial’ Category

Westcor Land Title Insurance Company Reports 2009 Financials

Thursday, April 1st, 2010

FinancialsWinter Park, FL—March 31, 2010—Westcor Land Title Insurance Company (Westcor), a leading independent underwriter, reports $90.7 million in premiums written in 2009 compared to $45.6 million in 2008.  This is a clear indication of the strength and perseverance of Westcor’s independent agents.

Westcor’s 2009 year-end financial results report a net income of $2.3 million and an increase in market share in every state underwritten.  “In these challenging times, we are proud to report positive and profitable financial results,” explains Mary O’Donnell, President/CEO of Westcor Land Title Insurance Company.  “Our success is a direct result of our independent agents’ ability to consistently compete regardless of market conditions.  It is this quality that identifies and differentiates our agents.”

Licensed in 23 states with 10 new licenses pending, Westcor maintains six regional offices nationwide and is the fastest growing title insurance company in the United States. Westcor’s aggressive selective growth is balanced by their quality agent selection criteria.

About Westcor Land Title Insurance Company

Westcor Land Title Insurance Company is a leading independent provider of title insurance. As one of the largest independent underwriters, Westcor is dedicated to the support and development of quality independent title agencies. Westcor will not compete against its agents. We are committed to promote stability, growth and continued autonomy of independent title agencies.  Our success is defined by our agents’ success. Westcor is rated A’ (Prime) Unsurpassed by Demotech, the highest rating available for regional underwriters.  To learn more about Westcor and how you can join the independent movement, visit www.wltic.com, or call 866–629–5842.

 

Westcor Land Title Insurance Co Reports Growth and Profit in 2009

Tuesday, February 9th, 2010

profitsupWinter Park, FL—February 9, 2010—Westcor Land Title Insurance Company (Westcor), a leading independent underwriter, reports an increase in gross premiums for the third quarter of 2009. According to third quarter results released by the American Land Title Association (ALTA), Westcor increased 83% in gross premiums compared to the same period of 2008. Westcor attributes the significant growth to the expansion of its independent agency base.

In 2009, Westcor expanded its agency base in the West and North East while continuing expansion in its Florida Title Insurance operations “ Our geographic expansion contributed to our significant growth together with the loyalty and dedication of our existing agency base. We attribute our success to the quality and integrity of our independent agents throughout the country. It is their dedication, commitment to excellence in service and strength to persevere during difficult times that is the reason for our success” explains Mary O’Donnell, President of Westcor.

Third quarter financial reports also confirm Westcor’s strong financial position thereby maintaining strong ratings from Demotech and Lace.

Now licensed in 23 states, with six regional offices nationwide, Westcor is optimistic about the future. “ We recognize that the market has changed and understand it represents new opportunity for innovation and improvement, states Mary O’Donnell. We look forward to meeting future challenges and remain committed to the growth and vitality of the independent agent.” To view Westcor’s current State Licensing Map, please visit http://wltic.com/state-license-map-of- westcor.

About Westcor Land Title Insurance Company
Westcor Land Title Insurance Company is a leading independent provider of title insurance. As one of the largest independent underwriters, Westcor is dedicated to the support and development of quality independent title agencies. Westcor will not compete against its agents. We are committed to promote stability, growth and continued autonomy of independent title agencies. Our success is defined by our agents’ success. Westcor is rated A’ (Prime) Unsurpassed by Demotech, the highest rating available for regional underwriters. To learn more about Westcor and how you can join the independent movement, visit http://www.wltic.com, or call 866–629–5842.

Westcor Land Title Insurance Ratings Reflect Positive Outlook

Thursday, December 17th, 2009

demotechWinter Park, FL, November 4, 2009—Westcor Land Title Insurance Company, a leading independent underwriter, continues to maintain a Financial Stability Rating® (FSR) of A′ (A Prime), Unsurpassed, from Demotech, Inc., an actuarial consulting and financial analysis firm located in
Columbus, OH. “Westcor’s ability to maintain a strong, conservative balance sheet despite the challenging operating environment reflects their financial stability and commitment to solvency,” explains Barry Koestler, Chief Ratings Officer of Demotech.

Additionally, Westcor has been upgraded by LACE Financial Corp. LACE is one of a list of ten credit rating agencies approved by the Securities and Exchange Commission (SEC) to determine financial soundness and creditworthiness. The recent upgrade is a clear indication of Westcor’s
financial stability and strength.

Westcor’s improvements are positive statements of a strong financial position. This optimistic affirmation is impressive especially during fluctuating market conditions. The new standing provides Westcor with greater financial leverage and financial flexibility to continue their forward
growth cycle.

A balance of competitive positioning, quality leadership and selective national growth has served Westcor well in 2009. While many other title underwriters weather loss and downgrades, Westcor’s business sustains and improves. “We thank our agents for their ongoing commitment
to quality and service, explains, Mary O’Donnell, CEO and President of Westcor Land Title Insurance Company. It is their commitment to perform with a consistent standard of excellence that reflects this positive result.”

About Westcor Land Title Insurance Company Westcor Land Title Insurance Company is a leading independent provider of title insurance. As one of the largest independent underwriters, Westcor is dedicated to the support and development of quality independent title agencies. Westcor will not compete against its agents.

We are committed to promote stability, growth and continued autonomy of independent title agencies. Our success is defined by our agents’ success.
Westcor has a Financial Stability Rating® (FSR) of A′ (A Prime), Unsurpassed, from Demotech, Inc. To learn more about Westcor and how you can join the independent movement, visit www.wltic.com, or call 866–629–5842.