Title Insurance Premium Volume Increases 21 Percent During Q2

September 22, 2015

Title insurance premium volume increased 21.1  percent during the second quarter of 2015 when compared to the same period a year ago, according to ALTA’s 2015 Second-quarter Market Share Data Analysis.

The title insurance industry generated $3.4 billion in title insurance premiums during the second quarter of 2015 compared to $2.8 billion during the second quarter of 2014.

During the quarter, total operating income increased 16.2 percent.  Operating expenses were up 19.1 percent, but loss and loss adjustment expenses were down 31 percent resulting in an 111 percent increase in net operating gain. Coupled with an increase in net investment gain of 55.9 percent, this resulted in net income of $172.9 million, compared to $93.6 million during the second quarter of 2014.

With over $170 million of net income, the industry continued its strong financial position. Total assets exceed $8.8 billion. Statutory surplus is almost $4 billion and statutory reserves are strong at $4.3 billion.

On a state-by-state basis, title premium volume increased during the second quarter of 2015 compared to the same period a year ago in 47 states and the District of Columbia. Two states were up over 40 percent, eight states up 30 to 40 percent, 16 states up 20 to 30 percent, 17 states and the District of Columbia up 10 to 20 percent and 4 states up less than 10 percent. Only three states decreased.

Market Share Among Title Insurance Family/Company

  • Fidelity Family (34.0 percent)
  • First American Family (24.2 percent)
  • Old Republic Family (13.6 percent)
  • Stewart Family (10.4 percent)
  • Independent Underwriters (13.2 percent)
    • Westcor Land Title Insurance Co. (3.0 percent)
    • WFG National Title Insurance Co. (2.4 percent)
    • Title Resources Guaranty Co. (2.1 percent)
    • North American Title Insurance Co. (1.54 percent)
    • Investors Title Insurance Co. (0.7 percent)

ALTA expects to release its third-quarter 2015 Market Share Analysis around Dec. 1.

Contact ALTA at 202-296-3671 or communications@alta.org.

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