Q1 2014 Title Premium Volume Decreases 16%
June 10, 2014
ALTA reported title insurance premium volume declined 16 percent during the first quarter of 2014 when compared to the same period a year ago.
According to ALTA’s 2014 First-Quarter Market Share Analysis, the title insurance industry generated $2.4 billion in title insurance premiums during the first quarter of 2014 compared to $2.9 billion during the first quarter of 2013. This was the largest quarterly decrease in five years.
“Through disciplined expense management, the land title insurance industry posted almost $100 million in net income despite the expected seasonal dip in premium written,” said Michelle Korsmo, ALTA’s chief executive officer. “The industry remains in a strong financial position and has admitted assets of $8.5 billion, including more than $7.6 billion in cash and invested assets.”
Market Share Among Title Insurance Family/Company:
- Fidelity Family (31 percent)
- First American Family (28 percent)
- Old Republic Family (15 percent)
- Stewart Family (13 percent)
- Independent Underwriters (12 percent)