Title Insurance Premium Volume Up 11% During Q1

June 21, 2016

The title insurance industry generated $3.0 billion in title insurance premiums during the first quarter of 2016 compared to $2.7 billion during the first quarter of 2015, according to ALTA’s 2016 First-Quarter Market Share Analysis. This is an increase of nearly 11 percent year-over-year.

The publically traded underwriters captured 86 percent of the market share, while market share of independent underwriters increased to nearly 13.9 percent during the latest quarter. This is up from 13.0 percent during the same period a year ago.

The top individual underwriters based on market share were:

  • First American Title Insurance Co. (25.2%)
  • Old Republic National Title Insurance Co. (14.9%)
  • Chicago Title Insurance Co. (14.3%)
  • Fidelity National Title Insurance Co. (12.3%)
  • Stewart Title Guaranty Co. (9.6%)

The top five independent underwriters based on market share were:

  • Westcor Land Title Insurance Co. (3.8%)
  • WFG National Title Insurance Co. (2.2%)
  • Title Resources Guaranty Co. (2.2%)
  • North American Title Insurance Co. (1.5%)
  • Alliant National Title Insurance Co. (0.8%)

On a state-by-state basis, 46 states, plus the District of Columbia, showed first-quarter 2016 written premiums increasing from first-quarter 2015. Eight states were up over 20 percent, 29 states were up 10 to 20 percent and nine states plus the District of Columbia were up less than 10 percent. Four states showed decreases.

Overall during the first quarter of 2016, the industry’s operating expenses were up 8.9 percent, while loss and loss adjustment expenses were down 20 percent resulting in net operating gain up 74.2 percent.

ALTA expects to release its second-quarter 2016 Market Share Analysis around September 1.

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