National Lloyds Corp., a Waco-based insurance holding company, announced its best yearly earnings in the company’s history with $25.7 million of pre-tax income.
Over the past several years, storm activity in Texas and Oklahoma had increased homeowners damage claims and dampened the company’s results. Last year provided little relief from the weather, with an above average eight storms impacting the company. However, the end results for 2014 fared much better.
“Our financial strength has long been the backbone of our company,” said Bob Otis, president and CEO of National Lloyds in the company’s announcement. “Investments in our business over the past two years helped us regain our swagger regardless of the weather and high number of claims. We’ve invested millions of dollars to ensure we improve our service to customers and our agents while effectively managing the costs of our operation.”
“Our success in 2014 allows us to continue plans to invest and grow our business,” Otis continued.
In addition to marketing plans, the company is increasing its staffing in 2015. It has recently attracted senior executives from across the country, each having experience with some of the industry’s top insurance companies.
Founded in 1948, National Lloyds is a subsidiary of Hilltop Holdings. The company specializes in writing fire and homeowner’s coverage, and is recognized as an insurance leader in Texas and throughout the South.
With the financial strength of over $182 million in annual written premium, National Lloyds is licensed to sell insurance in over 30 states, and has an extensive distribution network of over 4,200 independent insurance agencies and more than 160 employees. Policies are sold through two wholly-owned subsidiaries: National Lloyds Insurance Co. and American Summit Insurance Co.
Source: National Lloyds
Was this article valuable?
Here are more articles you may enjoy.