WASHINGTON–(BUSINESS WIRE)–

The first quarter of 2011 showed improvement for the title insurance industry, according to the American Land Title Association’s (ALTA) First-Quarter Market Share Analysis.

“The industry remains in a strong financial position as operating loss for the industry decreased to $11 million in the first quarter of 2011, compared to a loss of $124 million in the first quarter of 2010,” said Kurt Pfotenhauer, Chief Executive Officer of ALTA. “Meanwhile, the industry has $8.3 million in admitted assets and more than $4.75 million in statutory reserves.”

According to the Market Share Analysis, first-quarter 2011 title insurance premiums increased 8.7 percent compared to the same period in 2010 and are up 13.4 percent compared to the first quarter of 2009.

“After 13 consecutive quarters in which title premiums Written declined from the prior year’s equivalent quarter, the third quarter of 2009 ended this string with an increase of 1.4 percent over third quarter of 2008,” Pfotenhauer said. “Since then, quarterly premiums written have fluctuated up and down in no discernible pattern.”

The states generating the most title insurance premiums during the first quarter of 2011 were California ($307 million, up 2 percent compared to the first quarter of 2010), Texas ($246 million, up 22.2 percent), New York ($165 million, up 17.7 percent), Florida ($159 million, up 6 percent) and Pennsylvania ($110 million, up 25.3 percent). Overall, 41 states and the District of Columbia reported increases in title insurance premiums written during the first three months of 2011 when compared to the same period in 2010. Alaska, Kansas and West Virginia all experienced more than a 30 percent jump in title insurance premiums written during the first quarter of 2011 versus the first quarter of 2010.

In terms of market share, the Fidelity Family of title insurance underwriters captured 33.7 percent of the market during the first quarter of 2011, while the First American Family garnered 27.7 percent, the Old Republic Family recorded 13.5 percent and the Stewart Family had 12.5 percent. Meanwhile, regional underwriters held 12.6 percent of the market during the first quarter of 2011, up from 10.7 percent market share during the same period a year ago.

ALTA expects to release its second-quarter 2011 Market Share Analysis around Sept. 1. Click here to view the complete First-Quarter 2011 Market Share Analysis.

About ALTA

The American Land Title Association, founded in 1907, is a national trade association representing more than 3,800 title insurance companies, title agents, independent abstracters, title searchers, and attorneys. With offices throughout the United States, ALTA members conduct title searches, examinations, closings, and issue title insurance that protects real property owners and mortgage lenders against losses from defects in titles.