The title trade noticed premium quantity and earnings each head increased with solely a gentle drift upward in claims throughout the second quarter, sustaining a turnaround insurers started to see final 12 months.
Insurers reported $4.5 million in premium volumes between April and June 2025, with the whole rising roughly 9.8% from one 12 months earlier, in line with the American Land Title Association’s market share evaluation. Compared to the primary quarter, volumes rose 15.4% when the title trade generated $3.9 billion value of premiums.
Title underwriters started seeing indicators of rising momentum in 2024, following a two-year slowdown. Despite enchancment in corresponding mortgage borrowing volumes, a sluggish housing market characterised by difficult affordability ranges remains to be making use of general downward stress, ALTA famous.
“The title insurance coverage trade continues to show resilience and reliability, even because the broader real-estate market faces headwinds,” ALTA CEO Chris Morton mentioned in a press launch.
Earlier this summer time, Fannie Mae lowered its 2025 expectations for originations, primarily as a consequence of slowing house gross sales, however this week forecasted a slight uptick for refinances. Mortgage borrowing is probably going to enhance subsequent 12 months, although, the government-sponsored enterprise mentioned — a pattern that would offer a lift to title insurers.
“The housing market hangs in a fragile balancing act. Lower charges and enhancing affordability are pulling consumers again in, however the price lock-in impact, labor market dynamics, and cooling stock progress proceed to dampen house gross sales,” mentioned First American Deputy Chief Economist Odeta Kushi in latest housing commentary.
Through the primary six months of 2025, premium volumes additionally increased 13.2% in comparison with the identical timeframe a 12 months earlier.
Higher volumes translated to more healthy earnings. Operating revenue inside the title insurance coverage trade accelerated 12.8% on a year-over-year foundation in the second quarter, ALTA reported. The trade held complete property of $11.5 billion.
Title insurers paid out $336 million in claims in the primary half of the 12 months, in comparison with $333 million by way of the primary six months of 2024.
How particular person underwriters fared
First American Title Insurance Co. landed in the highest trade spot in complete underwriting share with 22.9% of quantity throughout the quarter. Fidelity National Title Insurance Co. adopted with 15%. Old Republic National Title Insurance Co. and Chicago Title Insurance Co., a subsidiary of Fidelity, got here in at 13.8% and 13.3%, respectively.
The most populous U.S. states, together with some that noticed a gentle inflow of recent incoming residents over the previous few years, topped the checklist in title premium quantity. Texas posted $671.4 million, up 10.6% from 12 months earlier. Florida landed in the second spot with $536.5 million, however progress was extra muted at 2%. California adopted with $411.5 million of underwriting quantity, representing a year-over-year enhance of 8.7%.
