American Land Title Association ALTA Reports Second Quarter Title Industry Premium Volume and Market Share Data prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
WASHINGTON - December 11, 2020 - (Newswire.com)
The title insurance industry generated $5.1 billion in title insurance premiums during the third quarter of 2020, according to
ALTA s latest Market Share Analysis. Title premium volume is up 17.6 percent compared with the same period a year ago.
Every state except New York and Delaware, along with the District of Columbia, experienced an increase in volume compared with the third quarter of 2020.
During the third quarter of 2020, total operating income for the industry was up 17.2 percent and operating expenses were up 16.9 percent, but loss and loss adjustment expenses were down 2.5 percent.
Overall for 2020, title insurance premium volume is up 17 percent ($13.2 billion) compared with the first nine months of 2019 ($11.3 billion). The title industry has paid $347.8 million in claims during the first nine months of 2020. This is down from $409.3 million in claims paid during the same period a year ago.