Title Insurance Premium Volume Increases 16 Percent in 2015

April 21, 2016

The title insurance industry generated $13.1 billion in title insurance premiums in 2015, up nearly 16 percent from 2014, according to ALTA’s 2015 Year-end and Fourth-quarter Market Share Analysis.

Meanwhile, during the fourth quarter of 2015, the industry reported $3.5 billion in title insurance premiums, up 12 percent when compared to the same quarter the previous year.

Last year provide to be interesting for the title insurance industry. Net income was nearly the same as 2014 ($788.2 million in 2015 versus $799.6 million in 2014). However, operating expenses for the underwriters were also up 14.1 percent ($1.5 billion). According to the data, this increase in expense reflected a substantial increase in premiums written by agents (an increase of $1.3 billion)

Loss and loss adjustment expenses were down 9.3 percent last year, resulting in net operating gain improving by 3.3 percent.

These positive operating results further strengthened the industry’s already strong financial position.  Total assets were almost $9 billion, cash and invested assets exceed $8 Billion and statutory surplus exceeds $3.9 billion. Statutory reserves were down $9 million, but remain at over $4.3 billion.

On a state-by-state basis, 47 states, plus the District of Columbia, showed fourth-quarter 2015 written premiums increased compared to the same period in 2014. For the full year, all 50 states plus the District of Columbia recorded increases from 2014 levels. Twelve states were up less than 10 percent, 22 states and the District of Columbia up between 10 and 20 percent and 16 states up over 20 percent.

In 2015, the industry paid more than $693 million in claims. This is up slightly from $680 million in claims paid during 2014.

2015 Full-year Market Share:

  • Fidelity Family (33 percent)
  • First American Family (27 percent)
  • Old Republic Family (15 percent)
  • Stewart Family (12 percent)
  • Independent Underwriters (13 percent)

ALTA expects to release its first-quarter 2015 Market Share Analysis around June 1. 

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