ALTA Reports Q1 2023 Title Premium Volume
June 22, 2023
The title insurance industry generated $3.37 billion in title insurance premiums during the first quarter of 2023 compared to $5.94 billion during the same period a year ago, according to ALTA’s latest Market Share Analysis. This is a 43% decrease from Q1 2023 versus Q1 2022.
Total operating income was down 71.6% during the first quarter of 2023 compared to Q1 2022. Despite the decrease in net income, the industry continued its strong financial position. Total assets were almost $11.7 billion, while the statutory surplus was at $5.2 billion and statutory reserves were $5.9 billion. The industry paid $162.7 million in claims during the first three months of 2023. This is up from $132.5 during the same period a year ago.
Top 10 Individual Underwriters by Market Share
- First American Title Insurance Co., 23.0%
- Old Republic National Title Insurance Co., 15.5%
- Fidelity National Title Insurance Co., 12.7%
- Chicago Title Insurance Co., 12.4%
- Stewart Title Guaranty Co., 9.6%
- Westcor Land Title Insurance Co., 3.7%
- Commonwealth Land Title Insurance Co., 3.3%
- Title Resources Guaranty Co., 2.9%
- WFG National Title Insurance Co., 2.4%
- Doma Title Insurance Co., 2.0%
- First American Title Guaranty Co., 1.9%
Top 5 States
- Texas: $522,896,481, -41.7%
- Florida: $421,697,958, -39.5%
- California: $283,768,919, -49.3%
- New York: $213,156,771, -41.2%
- Pennsylvania: $133,285,912, -46.9%
ALTA expects to release its second-quarter Market Share Analysis around Sept. 1.
Contact ALTA at 202-296-3671 or communications@alta.org.