ALTA Reports 4th Quarter and Year-end 2020 Title Industry Premium Volume and Market Share Data

May 27, 2021

Title Insurance Industry Market Share and Financial Statement compilations for the fourth quarter of 2020 are now available.

The fourth quarter of 2020 was a very positive quarter for the title insurance industry. Title insurance premiums written were up 33.6% from the fourth quarter of 2019. Total operating income was up 33.7%, operating expenses were up 32% and loss and loss adjustment expenses were down 7.3%, resulting in net operating gain up 79.8%. Net investment gain was down $33.3 million, resulting in net income of $566.8 million, compared to $364.5 million for the fourth quarter of 2019, an increase of 55.1%. Net income for the year was $1.59 billion, the highest annual net income in the last 19 years.

With $566.8 million of net income, the industry continued its strong financial position. Total assets were almost $11.6 billion, including $10.5 billion in cash and invested assets. Statutory surplus is almost $5.5 billion and statutory reserves are strong at over $5.0 billion.

On a state-by-state basis, 49 states, plus the District of Columbia, showed fourth-quarter 2020 written premiums increasing from fourth-quarter 2019. Two states were up over 60%, eight states were up between 50% and 60%, 11 states were up between 40% and 50%, 12 states were up between 30% and 40%, 12 states plus the District of Columbia were up between 20% and 30% and four states were up between 10% and 20%. Only one state, New York, decreased by less than 5%.

Of the largest states, Texas was up 28.8%, followed by California up 40.4%, Florida up 29.5%, New York down 4.1% and Pennsylvania up 46.8%.

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