Title Insurance Industry says 2011 was a $10 Billion Year

The title insurance industry generated $9.47 billion in premiums in 2011, down 1.5 percent from its production in 2010.  Fourth quarter activity totaled $2.57 billion, a 6.5 decrease from the same period a year earlier.  The American Land Title Association (ALTA) released preliminary figures on its member's activities in its 2011 Year-end and Fourth-Quarter Market Share Analysis.

Companies with the largest share of business during the year were the Fidelity family of underwriters (34.7 percent), First American family (26.8 percent), Stewart family (12.7 percent), and Old Republic family (13 percent.)  Independent companies garnered an 11.8 percent share of the market in 2011.

The states that generated the highest level of insurance premiums during the year were California ($1.33 billion, down 5.3 percent from 2010), Texas ($1.15 billion, an 8.5 percent increase); New York (up 8.3 percent to $719.5 million); Florida ($718.6 million, up 1.8 percent), and Pennsylvania ($410.0 million, a 5 percent drop.)  Fifteen states and the District of Columbia reported increased premiums in 2011 compared to 2010 and 10 states plus the District reported increases in the fourth quarter of 2011 over the fourth quarter of 2010.  The largest increase, 29 percent, was reported by Illinois.