Title Insurance Premiums Grow Substantially Including Florida

They are only risingTitle insurance premiums increased in all 50 states during the second quarter of 2012 (April – July) compared with the same period of 2011, according to the “2012 Second-Quarter Market Share Analysis,” from American Land Title Association (ALTA). Title insurance premiums reached $2.76 billion in the second quarter, an almost 20 percent increase compared to the same quarter a year ago.

The title insurance industry generated $9.47 billion in the title insurance premiums in 2011, down 1.5 percent from the prior year, according to ALTA’s 2011 premium data; Q2 2011 premiums were $445 million. Title insurance premiums in the first three months of 2012 were $2.32 billion, up from $2.25 billion in premiums in the same period of 2011.

States generating the most premiums in title insurance for Q2 2012:

  1. California: $415.1 million, up 29.8 percent compared with $320 million for the same quarter 2011
  2. Texas: $333.7 million, up 16.6 percent compared with $286 million in Q2 2011
  3. Florida: $218.1 million, 17.4 percent compared with $186 million in Q2 2011
  4. New York: $193.6 million, up 14.8 percent compared with $169 million in Q2 2011
  5. Pennsylvania: $113.2 million, up 16.8 percent compared with $97 million in Q2 2011
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