Title Insurance Industry Market Share and Financial Statement Compilations for the 4th Quarter of 2022

May 4, 2023

Title Insurance Industry Market Share and Financial Statement compilations for the 4th Quarter of 2022 are now available on the ALTA website (www.alta.org/industry/financial.cfm).

The fourth quarter of 2022 was a positive quarter for the title insurance industry. It was, however, substantially lower than the 4th Quarter of 2021, the highest quarter ever recorded for the industry. The fourth quarter of 2022, while the lowest of the last 10 quarters, was the 5th highest 4th Quarter and the 12th highest of all quarters in the industry’s history. Title Insurance Premiums Written were down 38.1% from the fourth quarter of 2021 and the full year were down 16%. Total Operating Income was down 37.1%, Operating Expenses were down 34.8% and Loss and Loss Adjustment Expenses were down 28.4%, resulting in Net Operating Gain down 70.3%. Net Investment Gain was down 24.5%, resulting in Net Income of $213.1 Million, compared to $672.3 Million for the 4th Quarter of 2021, an decrease of 68.3%. Net Income for the year was $1.68 Billion, however the second highest annual Net Income on record.

With $213.1 Million of Net Income, the industry continued its strong financial position.  Total Assets were $12.1 Billion, including $11.0 Billion in Cash and Invested Assets.  Statutory Surplus is over $5.2 Billion and Statutory Reserves are strong at over $5.9 Billion.

After an unprecedented 12 consecutive quarters in which Title Premiums Written increased from the prior years equivalent quarter, the 2nd, 3rd and 4th Quarter of 2022 ended this string, showing a decrease of 5%, 20.6% and 38.1% respectively.

On a state-by-state basis, all 50 states, plus the District of Columbia, showed 4th Quarter 2022 written premiums decreasing from 4th Quarter 2021. Four states were down over 50%, 9 states, plus the District of Columbia, were down between 40% and 50%, 19 states were down between 30% and 40%, 14 states were down between 20% and 30% and 4 states were down between 10% and 20%.

All ten of the largest states recorded decreases. The largest state - Texas was down 36.4%, Florida, the #2 state, was down 34.4%, California, the #3 state, was down 53.4%, New York, the #4 state, was down 37.3% and Pennsylvania, the #5 state, was down 39.7%.


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