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In 1978 John Lorenzo wrote MLT's first presidents report in it, he described the challenges encountered within the first 5 months of making TM LT a reality everything from describing the difference between occurrence and claims-made policies to his efforts in recruiting an experienced executive staff he covered all the significant progress made towards building a financially stable and physician centric company in that report he also provided a policyholder count of nine hundred applicants a policyholder surplus of more than two million dollars and a four point roadmap the TM LT would follow to offer medical professional liability insurance on a long-term basis with competitive premiums that offered superior value than those available from commercial carriers that four-point roadmap included these mandates one investment income will accrue to the trust and provide benefit to its policyholders to cost-effective administration will benefit the trust and its policyholders three strong claims defense with the interest of the policyholder being paramount as well as peer claims consultation and robust risk management and for physician peer group participation in both underwriting and claims HTML t put physician needs an interest first from the very beginning just a few months later the first team LP annual report described assets of seven point six million dollars and a policyholder count of 1134 TM a member positions that original president's report optimistically stated the HTML team was quote on target unquote and in 2018 TM LT remains on target still following that four-point roadmap and still providing the very best medical liability insurance products and services available in Texas and beyond those original goals of putting physicians first still hold true today in 2018 our balance sheet remains strong with total assets exceeding 935 million dollars we now cover more than 36 thousand policyholders through teen MLT and its affiliates Lone Star Alliance Texas medical insurance company and physicians insurance company this represents a hundred and twenty-three percent growth in policyholders since 2004, and we continue to give back to our policyholders through dividends and trust rewards today we paid more than three hundred and four million dollars in policyholder dividends and allocated more than 195 million dollars in trust rewards benefits that's more than four hundred and ninety-nine million dollars returned or allocated to our policyholders the principle set down by our founders in 1978 have carried t MLT through many years of opportunity change and growth to reach one of our most successful years in 2018, and I anticipate 2019 to ML's 40th year in full operation to be yet another important chapter into MLT's legacy of successful service for physicians in Texas and beyond Music
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