Title Industry Generates $3.7 Billion in Premiums During Q2
The title insurance industry generated $3.7 billion in title insurance premiums during the second quarter of 2017, according to ALTA’s 2017 Second-Quarter Market Share Analysis. This compared to $3.5 billion during the second quarter of 2016.
The publicly traded underwriters captured 85.4 percent of the market share during the latest quarter, while independent underwriters garnered 14.6 percent of the market.
The top individual underwriters based on market share were:
- First American Title Insurance Co. (23.1%)
- Chicago Title Insurance Co. (15.2%)
- Old Republic National Title Insurance Co. (14.0%)
- Fidelity National Title Insurance Co. (14.0%)
- Stewart Title Guaranty Co. (9.0%)
The top five independent underwriters based on market share were:
- Westcor Land Title Insurance Co. (3.4%)
- Title Resources Guaranty Co. (2.3%)
- WFG National Title Insurance Co. (2.3%)
- North American Title Insurance Co. (1.7%)
- Alliant National Title Insurance Co. (.8%)
On a state-by-state basis, 37 states showed second-quarter 2017 written premiums increasing from second-quarter 2016.
Overall during the first quarter of 2017, the industry’s operating expenses were up 7.6 percent, while loss and loss adjustment expenses were down 8.3 percent resulting in net operating gain of 10.4 percent.
ALTA expects to release its third-quarter 2017 Market Share Analysis around December 1.
Contact ALTA at 202-296-3671 or email@example.com.