Title Insurance Industry says 2011 was a $10 Billion Year
The title insurance industry generatedrn$9.47 billion in premiums in 2011, down 1.5 percent from its production inrn2010. Fourth quarter activity totaledrn$2.57 billion, a 6.5 decrease from the same period a year earlier. The American Land Title Association (ALTA)rnreleased preliminary figures on its member’s activities in its 2011 Year-end and Fourth-Quarter MarketrnShare Analysis.</p
Companies with the largest share ofrnbusiness during the year were the Fidelity family of underwriters (34.7rnpercent), First American family (26.8 percent), Stewart family (12.7 percent), andrnOld Republic family (13 percent.) rnIndependent companies garnered an 11.8 percent share of the market inrn2011.</p
The states that generated the highestrnlevel of insurance premiums during the year were California ($1.33 billion,rndown 5.3 percent from 2010), Texas ($1.15 billion, an 8.5 percent increase);rnNew York (up 8.3 percent to $719.5 million); Florida ($718.6 million, up 1.8rnpercent), and Pennsylvania ($410.0 million, a 5 percent drop.) Fifteen states and the District of Columbia reportedrnincreased premiums in 2011 compared to 2010 and 10 states plus the Districtrnreported increases in the fourth quarter of 2011 over the fourth quarter ofrn2010. The largest increase, 29 percent,rnwas reported by Illinois.
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