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News & Press: Industry News

Insurers Report Third-quarter Results

Tuesday, November 19, 2019  
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  • Fidelity

    Fidelity National Financial reported that its title insurance segment generated pre-tax income of $339 million during the third quarter of 2019. This compared to $311 million in pre-tax income reported during the same period a year ago. This was Fidelity’s strongest third quarter since 2003. Fidelity paid $52 million in claims during the third quarter of 2019. This is down slightly from $55 million in claims paid during the same period a year ago.

    Fidelity reported that refinance orders increased by nearly 114% versus the third quarter of 2018 and commercial orders opened increased by 15 percent over the third quarter of 2018.
  • Old Republic

    Old Republic International reported that its title insurance segment posted pre-tax income of $72.8 million during the third quarter of 2019. This is up from $67.7 million during the same period a year ago.

    Old republic said its 2019 year-over-year comparisons of revenues from title premiums and fees reflect a continued stable market share position. Claim costs trended higher as favorable development of prior years' claim reserve estimates edged down. The company paid $20.7 million in claims during the latest quarter. This compares to $15.1 in claims paid during the third quarter of 2018.
  • First American

    First American Financial Corp. reported that its title insurance and services segment generated $253.6 million in pre-tax earnings during the third quarter of 2019. This is up from $206.5 million in pre-tax income during the third quarter of 2018.

    In the purchase market, First American reported that open order growth turned positive for the first time since early 2018, while commercial business continued strong and lower interest rates drove substantial refinance growth. First American paid $50.5 million in claims during the latest period. This is down from $130.5 million in claims paid during the third quarter of 2018.
  • Stewart

    Stewart Information Services reported that its title segment generated $49.5 million in pre-tax income during the third quarter of 2019. This is up from $36.0 million in pre-tax income during the same period a year ago.

    Stewart reported that refinancing orders benefited from rate-related tailwinds and that operating results were solid across the board, with year-over-year growth in direct commercial, residential and international operations.

    During the third quarter of 2019, Stewart paid $21.0 million in claims. This was similar to $21.5 million in claims paid during the same period a year ago.

California Land Title Association


1215 K Street #1816 Sacramento, CA 95814-3905
Email: mail@clta.org  |  Phone: 916-444-2647  |   Fax: 916-444-2851