North American Title Group Announces 2016 Financial Results

May 4, 2017

North American Title Group, LLC (NATG) reported pre-tax income of $39.3 million in 2016. This compares to $23.5 million in pre-tax income during the prior year.

The company includes an agency division, North American Title Co. (NATC), which reported total gross revenues of $239.8 million and provided title and escrow services for more than 116,000 transactions. NATG’s title insurance underwriter, North American Title Insurance Co. (NATIC), generated more than $225.4 million in gross premiums in 2016, including premiums from its affiliated agents. NATIC underwrote 299,000 policies in 2016 compared to 264,000 policies in 2015, a 13.4 percent increase.

“Taking advantage of a recovering housing market, we have made the necessary changes to run our business efficiently and are in a position to continue our growth organically and through strategic acquisitions,” said Tom Fischer, NATG president and CEO. “We saw pre-tax margins on net revenue of 15 percent in 2016, compared to 10 percent in the prior year. We are extremely pleased about hitting that number and continue to focus on margin expansion through the leveraging of technology and processing efficiencies.”

“On the technology side, we made large investments in 2017 and will continue to invest,” added Fischer. “We are currently working on tools that will push data in real time to associates and customers. We want to be at the forefront of technology and data in our industry. If we have learned anything in the last five years, it is that technology is capable of creating market disruption and changing the way we do business. So as the title industry is in the process of inevitably being disrupted, NATG is positioned to be one of the disruptors.” 

The top markets for NATC closed orders in 2016 were California, Texas, Florida, Colorado and Minnesota.

“Overall, we are grateful and humbled by the extraordinary efforts of the entire NATG team that has resulted in these best-in-class, record-breaking financial results,” added Fischer. “It all starts with our associates pulling together and improving the customer experience every day.”

Contact ALTA at 202-296-3671 or [email protected].