ALTA Reports Q1 2024 Title Premium Volume
June 13, 2024
The title insurance industry generated $3.35 billion in title insurance premiums during the first quarter of 2024 compared to $3.37 billion during the same period a year ago, according to ALTA’s latest Market Share Analysis.
Total operating income was down 0.8% during the first quarter of 2024 compared to Q1 2023. Despite the decrease in net income, the industry continued its strong financial position. Total assets were almost $11.3 billion, while the statutory surplus was at $5.1 billion and statutory reserves were $5.7 billion. The industry paid $161.1 million in claims during the first three months of 2024. This is down slightly from $162.6 during the same period a year ago.
Top 10 Individual Underwriters by Market Share
- First American Title Insurance Co., 22.6%
- Old Republic National Title Insurance Co., 14.2%
- Fidelity National Title Insurance Co., 13.9%
- Chicago Title Insurance Co., 12.8%
- Stewart Title Guaranty Co., 9.9%
- Westcor Land Title Insurance Co., 3.8%
- Commonwealth Land Title Insurance Co., 3.6%
- Title Resources Guaranty Co., 2.8%
- WFG National Title Insurance Co., 2.5%
- Doma Title Insurance Co., 1.9%
- First American Title Guaranty Co., 1.7%
Top 5 States
- Texas: $492,939,114, -5.7%
- Florida: $421,668,094, 0.0%
- California: $292,673,711, 3.1%
- New York: $190,591,630, -10.6%
- Pennsylvania: $128,441,365, -3.6%
ALTA expects to release its second-quarter Market Share Analysis around Sept. 1.
Contact ALTA at 202-296-3671 or [email protected].