Premiums have Risen 10.4% Year-Over-Year
Title insurance premiums have risen to $3.3 billion, which makes for a 10.4% year-over-year increase for title insurance premiums in the first quarter according to ALTA’s 2017 First-Quarter Market Share Analysis. This is the highest increase since 2007, and it is the third year in a row that first-quarter premiums have risen year-over-year. At this rate, the industry will top last year’s total of $14.3 billion in insurance premiums, and they will be the highest in the industry since 2006.
Publicly traded underwriters account for 85% of the market
The top 5 publicly traded underwriters are First American Title Insurance Co. (24.6%); Old Republic National Title Insurance Co. (15%); Chicago Title Insurance Co. (14.1%); Fidelity National Title Insurance Co. (12.5%); and Stewart Title Guaranty Co. (9.4%).
Independent underwriters account for 15% of the market
The top five independent underwriters were Westcor Land Title Insurance Co. (3.6%); WFG National Title; Insurance Co. (2.8%); Title Resources Guaranty Co. (2.1%); North American Title Insurance Co. (1.7%); and Alliant National Title Insurance Co. (0.9%).
