The title insurance industry generated $3.98 billion in title insurance premiums during the third quarter of 2018 compared to $3.88 billion during the same period a year ago, according to ALTA’s latest Market Share Analysis. California was the second ranked state for premium volume at $1.24 billion. Only Texas, with $1.59 billion, topped California.
The industry paid $391.6 million in claims through the first nine months of the year, down from $408.2 million in claims paid during the first nine months of 2017.
Overall, total operating income was up 3.8 percent, operating expenses were up only 1.3 percent, and loss adjustment expenses were up only 5.2 percent when comparing Q3 2018 versus Q3 2017.