Title Insurance Premiums Decrease in Second Quarter

Title insurance companies wrote $2.30 billion in premiums throughout the second quarter of 2011, down from $2.33 billion in the second quarter of 2010, according to the American Land Title Association's (ALTA) preliminary 2011 second-quarter market share analysis.

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At the same time, premiums increased in 21 states and Washington, D.C., compared with the second quarter 2010.

The greatest increases in premiums were seen in Iowa (70 percent), South Dakota (63 percent), Delaware (29 percent), and Alaska (29 percent).

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California insurance companies brought in the highest amount in premiums â€" $320 million. This is an 8.8-percent decline from the first half of 2010.

Texas ranked second with $286 million, a 7.5-percent increase from last year.

Florida ($186 million), New York ($169 million), and Pennsylvania ($97 million) also ranked in the top five for the six-month period.

Title insurance companies with the greatest market share were Fidelity with 36.4 percent of the market, First American with 26.1 percent, Stewart with 13.9 percent, and Old Republic with 12.7 percent.

Regional underwriters increased their share of the market, taking 10.8 percent of the market in the second quarter of 2011 as opposed to 9.9 percent in the second quarter of 2010.

ALTA's analysis is based on preliminary data; two regional companies have not yet released their second-quarter figures.

ALTA is a national trade association of title insurance companies, title agents, title searchers, independent abstracters, and attorneys. ALTA has more than 3,800 members throughout the United States.