2010 Q3 Title Premiums Dip from a Year Ago
|December 7, 2010|
The American Land Title Association (ALTA) reported title insurance premiums written during the third quarter of 2010 decreased slightly when compared to the same period a year ago.
According to ALTA’s preliminary 2010 Third-quarter Market Share Analysis , the title insurance industry generated $2.48 billion in title insurance premiums during the third quarter of 2010, down 1.9 percent from the third quarter of 2009. For the first nine months of 2010, the industry reported $6.87 billion in title insurance premiums, down 2.7 percent when compared to the first nine months of 2009.
The states generating the most title insurance premiums during the third quarter of 2010 were California ($367.8 million, down 7.2 percent compared to third-quarter 2009), Texas ($287.7 million, up 6.2 percent), Florida ($182.4 million, up 2.2 percent), New York ($172.0 million, up 15.6 percent) and Pennsylvania ($109.3 million, down 3.1 percent). Overall, 10 states and the District of Columbia reported increases in title insurance premiums written when compared to third-quarter 2009. Kansas experienced a 63.2 percent jump in title insurance premiums written during third-quarter 2010 versus the same period a year ago, while Washington reported a 21 percent spike.
ALTA expects to release its fourth-quarter and full-year 2010 Market Share Analysis around March 20.