NATNews Blog > April 2016 > ​ALTA Posts 2015 Year-end Market Share Executive Summary

    ​ALTA Posts 2015 Year-end Market Share Executive Summary

    4/25/2016 12:24:03 PM
    Title Insurance Industry Market Share, Statistical Analysis and Financial Statement compilations for Q4 and the full year 2015 are now available on the ALTA website (

    2015 was an interesting year for the title insurance industry, with net income almost the same as 2014 ($788.2 million in 2015 versus $799.6 million in 2014). However, they got there after a series of increases and decreases.

    Title insurance premiums written were up 15.8 percent from the prior year and total operating Income was up 11.8 percent. However, operating expenses were also up 14.1 percent ($1.5 billion, of which $1.3 billion were agents’ commissions, which reflected a substantial increase in premiums written by agents).

    Loss and Loss Adjustment

    Expenses were down 9.3 percent resulting in net operating gain improving by 3.3 percent. A 24.2 percent increase in net investment gain, offset by a 45.8 percent increase in federal income taxes, resulted in 2015 net income down only 1.4 percent from 2014.

    These positive operating results further strengthened the industry’s already strong financial position. Total assets were almost $9 billion, cash and invested assets exceed $8 billion and statutory surplus exceeds $3.9 billion. Statutory reserves were down $9 million, but remain at over $4.3 billion. 

    After seven consecutive quarters in which title premiums written increased from the prior year’s equivalent quarter, Q4 2013 ended this string with a decrease of 6.9 percent over the Q4 2012. Q4 2014 became the fourth consecutive quarter with a decrease over the equivalent prior year’s quarter. Q4 2014 essentially broke even with a 0.3 percent increase and the Q1 2015 improved upon this change in direction with an increase of 11.1 percent. Q4 2015 became the fourth consecutive quarter with an increase, up 12.3 percent.

    On a state-by-state basis, 47 states, plus the District of Columbia, showed Q4 2015 written premiums increasing from Q4 2014. One state was up over 40 percent, two states were up between 30 percent and 40 percent, 16 states up between 20 percent and 30 percent, 18 states up between 10 percent and 20 percent and 10 states plus the District of Columbia were up less than 10 percent. Only three states showed decreases and none was greater than 10 percent.

    Of the 10 largest states, all recorded increases with two between 20 percent and 30 percent and four between 10 percent and 20 percent.

    The largest state, Texas, was up 3.7 percent, California at number two was up 7.7 percent, Florida at number three was up 15.9 percent, New York at number 4 was up 9.3 percent and Pennsylvania at number five was up 18.3 percent.

    For the full year, all 50 states plus the District of Columbia recorded increases from 2014 levels. Twelve states were up less than 10 percent, 22 states and the District of Columbia up between 10 and 20 percent and 16 states up over 20 percent.