Industry NewsMortgage

Title premiums show annual growth

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Title insurance premiums increased 1.4 percent from a year ago during the third quarter, the first year-over-year growth in more than three years, the American Land Title Association reported.ALTA's preliminary Third-Quarter Market Share Report showed the title insurance industry generating $2.51 billion in premiums during the quarter ending Sept. 30, with revenue increasing in 32 of 50 states compared to a year ago. It was the first year-over-year increase for the industry as a whole following 13 consecutive quarters of declines, the group said.California generated the most title insurance premiums -- $396.3 million, up 13.3 percent from a year ago, followed by Texas ($270.7 million, down 9.9 percent), Florida ($178.5 million, down 16 percent), New York ($148.7 million, down 26.1 percent), and Pennsylvania ($112.7 million, up 5.1 percent).ALTA's numbers also show the industry's top two underwriters losing market share to the other "big four" national underwriters and also re...