Posts Tagged ‘WLTIC’

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 Announces New Hires

Wednesday, March 3rd, 2010

welcome-matWestcor Land Title Insurance Company (Westcor), a leading independent underwriter, today announced two new hires to the Westcor family.  Gail Hinson joins the Florida Agency division as a Marketing Representative and will report to Glenn Bradley, Vice President of the Florida Agency. In her new role, Hinson will utilize the knowledge she gained from over 40 years of title industry experience at Old Republic to service loyal customers and make new contacts to support Westcor’s ongoing expansion.

Westcor also announced Vivian Hastings joins the Pensacola Title Plant as Assistant Statewide Production Manger. She will report to Tami Manning, State Production Manager and Richard Murray, Vice President of Title Plant Operations.  Hastings will manage a myriad of day-to-day production duties as well as cultivate new and existing customer relationships. With over 30 years of in-depth industry experience, Hastings joins from The Fund where she served as Product and Service Manager.

“We are delighted to welcome Gail and Vivian to the Westcor family, said Richard Murray.  ‘Their presence indicates our ongoing expansion effort to continue to serve the needs of the independent agent.  Their in-depth knowledge and experience provides Westcor with the strength and confidence that our performance will remain consistent as we continue to grow.”

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.

Nine New States for Title Insurance

Wednesday, February 3rd, 2010

State License Map 2-2010Well even though according to Punxsutawney Phil there’s six more weeks of winter ahead, there’s nine new states ahead for Westcor Land Title Insurance Company…Connecticut, Delaware, Indiana, Kentucky, Massachusetts, Rhode Island, South Dakota, Washington, and Wisconsin.

We’ve recently updated our state license map to reflect the nine new states where our applications are pending, and the twenty-three states where Westcor, an independent underwriter, is already licensed to write Title Insurance policies.

For more information on Westcor’s policy of not competing against our agents, please vist the Become an Agent page.

Westcor’s “eWestcor” System Enhances Closing Letter Application

Tuesday, January 12th, 2010

ewestcor_logoWestcor Land Title Insurance Company’s online application, “eWestcor” has just recently updated its Closing Letters Module allowing for edits to existing letters and added a few other enhancements to the app such as a favorite lender list as well.

The enhancement allows the agents to quickly edit an existing closing letter (which is a key part of the title insurance and closing process) when changes come back from the lender and reprint it with just a few clicks.  The favorite lender list also increases the speed at which the agents can get into the system, create a new closing letter, and print it.

Westcor Land Title Insurance Company located in Orlando, Florida 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.

Westcor Welcomes Stephanie Grimes to Corporate Offices Winter Park Florida

Friday, January 8th, 2010

welcome-matWestcor would like to welcome Stephanie Grimes to the legal department at the corporate offices location in Winter Park, Florida.

Formerly with First American and with over 30 years of experience in the Title Insurance industry, Stephanie is a wonderful new addition to our corporate offices team.

Stephanie has called Orlando home for 10 years now and enjoys traveling, reading, and spending time with her grandchildren.

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.

 

 

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.

Westcor Announces New Mountain States Regional Office Providing services to Idaho, Utah, Montana and Wyoming

Thursday, December 17th, 2009

BoiseWinter Park, FL—August 18, 2009 Westcor Land Title Insurance Company, the nation’s leading independent underwriter, has announced its Mountain States Regional Agency (MRSA) office is now open for business in Boise, Idaho, to support independent title agencies in Utah, Idaho, Montana and Wyoming. The office offers a full menu of underwriting services to independent agents that can be customized to meet and support individual agency needs.

Formerly with a major underwriter, and natives of Boise, Idaho, Michael J. Koloski is leading the new Mountain Agency office as Vice President along with Robert E. Rice as Regional Counsel.

Mr. Koloski is a well-respected industry veteran who has served the title industry for over thirty years. Mr. Koloski and Mr. Rice have worked together successfully for several years serving title agents in the mountain states region.

“We welcome the wealth of knowledge, experience and support associated with Mike and Bob,” said Mary O’Donnell, Westcor’s President and Chief Executive Officer. “Recognized for their excellence as service performers, their contribution will be a tremendous asset to the title agents in the region they serve.”

“They will be a great addition to our Western servicing platform, says Scott Chandler, Western Agency Regional Manager. “The additional office provides Westcor with the support and service structure to the western states that far exceeds their competition.” The new opening is another demonstration of Westcor’s commitment to serving the independent agent in the western region.

Westcor is a full-service underwriter that prides itself on independence. Its foundation is built to engage independent agencies looking for an alternative to the industry’s established underwriters. Westcor’s purpose is to provide support solutions that promote stability, growth and continued independence. The new office offers independent agencies traditional underwriting services with a customized approach. Every agent is treated on an individual basis with support for their business practices that affords convenience and functionality required for their businesses to thrive.

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 Sustains and Grows in Second Quarter Despite Fluctuating Market Conditions

Thursday, December 17th, 2009

Winter Park, FL—October 5, 2009—Westcor Land Title Insurance Company, a leading independent underwriter, reports continued growth despite the challenging economic market conditions. According to second quarter reports released by the American Land Title Association (ALTA), Westcor has increased Market Share in many of the states in which they are licensed, with the most significant growth occurring in the Western region.

Westcor advanced its national market share from the second quarter of 2008 to second quarter 2009. Westcor reported a 62% increase in premiums written for the period.

The company credits their independent agents for their ability to sustain and grow in this market.

“The ability of our agents to remain consistent during challenging market environments is confirmation that service-oriented business philosophy and practices work. Believing in a standard of excellence and providing outstanding personalized service to our agents strengthens their position in the marketplace,” commented Mary O’Donnell, CEO and President of Westcor.

Westcor continues its expansion by working with quality independent title agents and providing them with personal service. The underwriter attributes their steady growth and success, despite market conditions, to their solid business model. That said, Shawn Patrick Abrahms, president of Trinity Abstract, in New York sums it up, “Had all underwriters stayed true to these practices, we could have avoided the turmoil we are currently suffering. . . Westcor’s business model is soundly based on good old- fashioned common sense and best business practices.”

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.