January 20, 2009
The American Land Title Association released financial results for the title industry for the third quarter of 2008. For the first nine months of 2008, the California industry generated $1.1 billion in premiums in California, compared to $1.6 billion during the same period the previous year. Total premiums in 2007 were $2 billion so California is on track for a decline of at least 25%. During the first nine months of 2008, former LandAmerica companies had a market share of 14% in California.