First National Title Insurance Company (FNTI) is proud to announce that our national market share ranking has moved up to the ninth spot based on the June 30, 2019, Form 9 data. Gross premiums half way through 2019 reached a record $61,141,499 and moved the company up a couple spots from the previous position at the end of 2018. As I have stated many times over the past eight years, the milestones and rankings we achieve are directly attributable to the incredible network of independent agents that represent FNTI. The milestones we reach are because you have allowed us to earn a portion of your business and given us the opportunity to demonstrate the value of an independent agent-focused underwriter.
Every facet of our business is growing. We continue to strategically add new team members where and when they are needed. Our title production center is experiencing record order counts, so we’ve added two new examiners. Earlier in the year, our legal team was expanded to six full-time counsels to support your underwriting needs. Our policy support team accepts your monthly remittances, processes them, and returns invoices and statements to you within a week. I don’t have an accurate way to measure our efficiency other than to suggest that FNTI has the quickest remittance turnaround time in the industry. If you get your remittances processed by your other underwriters quicker than FNTI, I would like to know.
We have a similar efficiency with Over Limits Authorization (OLA) process. Once you submit your high-liability transactions for approval, and assuming you have provided all the information required for our legal team to properly analyze the request, you should receive a response from our legal team within hours and in most cases in less than 24 to 48 hours. Each OLA is internally tracked by file number and liability amount so that files requiring reinsurance can be properly documented and submitted to our reinsurers in London.
Our Education Department has coordinated the presentation of 70 courses so far this year and had the highest number of escrow officers and real estate agents attend these courses than any time in the history of our company. We value the education process and the educational benefits we are able to provide to our independent agents. We have a full-time education director whose sole responsibility is to establish the curriculum and coordinate the classes our agents need to attract more customers and become better agents.
It may be a bit of a challenge, but our next goal is to reach No. 8 nationally. And to reach that goal, we are developing a strategic plan to expand into additional states. We believe a regulated title industry is a healthy title industry and have explored states that understand the benefits of regulations. We are also exploring states that have strong independent agents that aggressively compete against the big four underwriters. In each of these expansion states, we will explore opportunities that ultimately allow us to take business away from the top four underwriters that, in my opinion, control too much of the title insurance market.
We have set our goals and standards high for a reason. We want to compete on a bigger stage and demonstrate the capabilities of an entrepreneurial company dedicated to the success of the independent agent. Watch future blogs for an update on our progress.
As always, our company motto that we “…do business with those we know, like, and trust” still rings true—it is a motto we live by. We want you to know us, like us, and especially trust us. Thank you for your business and helping us achieve the national market share ranking of No. 9.