Title insurance premiums rise in 21 states in 2Q
Title insurance premiums written during the second quarter grew in 21 states and Washington D.C., the American Land Title Association said Tuesday. The state of California generated the most title insurance premiums, $320 million to be exact, down 8.8% from last year, ALTA said. Meanwhile, Texas ranked second, pulling in $286 million in new premiums, up 7.5% over last year. Florida, New York and Pennsylvania followed closely behind with premiums in the $97 million-to-$186 million range. The entire industry produced $2.3 billion in title insurance premiums in quarter two, down from $2.33 billion in the same period a year ago. Fidelity National title insurance underwriters maintained 36.4% of the market share in the second quarter, followed by First American with 26.1% marketshare; the Stewart companies with 13.9%; and Old Republic with 12.7% of the market. Regional underwriters represented 10.8% of the market, up from 9.9% a year earlier. Write to: Kerri Panchuk.