Title insurance premium revenues soar 24 percent

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Title insurers saw revenue from premiums jump 24 percent from a year ago during the first quarter of 2013, to $2.9 billion, according to the American Land Title Association.

States seeing the biggest annual increases in premium volume were North Dakota (73.9 percent), Iowa (54.4 percent), Minnesota (54.1 percent), Wisconsin (49.1 percent), and Tennessee (48.5 percent). States that accounted for the most business were California ($377.4 million), Texas ($347.9 million), Florida ($235.4 million), New York ($216.3 million), and Pennsylvania.

Companies under the umbrella of Fidelity National Financial (including Chicago Title, Fidelity National Title and Commonwealth Land Title) commanded 32.7 percent of the market, followed by First American Title ( 26.7 percent), Old Republic (15 percent), and Stewart  Title (11.5 percent). Regional underwriters boosted their market share to 14.2 percent, up from 13.5 percent a year ago. Source: businesswire.com.