American Land Title Association ALTA Reports Second Quarter Title Industry Premium Volume and Market Share Data

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Sep 10, 2021, 10:06 ET

WASHINGTON, Sept. 10, 2021 /PRNewswire/ -- The American Land Title Association (ALTA), the national trade association of the land title insurance industry, reported the insurance industry generated $6.5 billion in title insurance premiums during the second quarter of 2021, according to ALTA's latest Market Share Analysis.

"The continued strength in the purchase market and strong rebound in the commercial market continue to drive the historic volume in title insurance premiums," said ALTA CEO Diane Tomb. "Despite the recent surge of COVID-19 cases, the housing market remains robust as ALTA members across the country continue to serve the needs of their customers, protect property rights and strengthen communities."

In addition to the active purchase and commercial markets, continued home appreciation helped drive the 56.3% premium volume increase compared to the second quarter of 2020. Total operating income was up 52.4%, while operating expenses were up 50.8%, and loss and loss adjustment expenses were up 41.7%. Net income increased 84.6% during the latest quarter, resulting in the highest second quarter ever. The industry paid $221.1 million in claims through the first six months of the year. This is down from $232.9 million in claims paid during the same period a year ago.

Top Individual Underwriters by Market Share

First American Title Insurance Co., 19.9%
Old Republic National Title Insurance Co., 14.7%
Chicago Title Insurance Co., 14.0%
Fidelity National Title Insurance Co., 13.6%
Stewart Title Guaranty Co., 8.6%
Westcor Land Title Insurance Co., 6.2%
Commonwealth Land Title Insurance Co., 4.2%
WFG National Title Insurance Co., 3.0%
Title Resources Guaranty Co., 2.6%
North American Title Insurance Co., 1.7%

Top States

Texas, $861,348,871 (53.3%)
California, $755,634,478 (57.6%)
Florida, $716,995,561 (66.9%)
New York, $328,137,447 (66.5%)
Pennsylvania, $294,361,193 (77.1%)

Click here for more market share data.

About ALTA

The American Land Title Association, founded in 1907, is the national trade association representing the land title insurance industry, which employs more than 120,000 people working in every county in the United States. More than two-thirds of ALTA's 6,400 member companies are considered small businesses. ALTA members conduct title searches, examinations and closings and issue title insurance that protects real property owners and mortgage lenders against losses from defects in titles.

Media Contact:
Megan Hernandez
(202) 296-3671 ext. 240
[email protected]

SOURCE American Land Title Association