2020 Second Quarter Title Insurance Industry Market Share Executive Summary

September 4, 2020

Title Insurance Industry Market Share and Financial Statement compilations for the 2nd Quarter of 2020 are now available on the ALTA website (www.alta.org/industry/financial.cfm).

The second quarter of 2020 was a very positive quarter for the title insurance industry. Title Insurance Premiums Written were up 8.0% from the second quarter of 2019. Total Operating Income was up 8.2%, Operating Expenses were up 8.4%, but Loss and Loss Adjustment Expenses was down 27.0%, resulting in Net Operating Gain up 24.8%. Net Investment Gain was down 66.1%, resulting in Net Income of $311.3 Million, compared to $315.9 Million for the 2nd Quarter of 2019, a decrease of 1.5%, but producing the highest 1st Half in the last 18.years.

With $311.3 Million of Net Income, the industry continued its strong financial position.  Total Assets were almost $10.4 Billion, including over $9.4 Billion in Cash and Invested Assets.  Statutory Surplus is almost $4.8 Billion and Statutory Reserves are strong at over $4.8 Billion.

After 10 consecutive quarters in which Title Premiums Written increased from the prior years equivalent quarter, the 3rd Quarter of 2017 ended this string, essentially breaking even, with a decrease of only 0.03% from the 3rd Quarter of 2016. The 4th Quarter of 2017 and the four quarters of 2018 also varied only slightly from breakeven, either up or down less than 3%. The 1st Quarter of 2019 broke from this pattern, down by 5.2%, but the last three quarters of 2019 and the first two quarters of 2020 returned to increases, up by 1.5%, 9.7%, 18.1%, 27.6% and 8.0%, respectively.

Forty-five states showed 2nd Quarter 2020 written premiums increasing from 2nd Quarter 2019. Six states were up over 40%, 7 states were up between 30% and 40%, 9 states were up between 20% and 30%, 17 states were up between 10% and 20%, and 6 states were up less than 10%. Five states, plus the District of Columbia, showed decreases from 2019. 4 states, plus the District of Columbia, showed decreases less than 10%. One state (New York) was down almost 30%.

The largest state - Texas was down 3.1%, California, the #2 state, was up 3.8%, Florida, the #3 state, was up 7.7%, New York, the #4 state, was down 29.8% and Pennsylvania, the #5 state, was up 7.3%.


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

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