Title insurers report rising volumes in 2025

The title industry saw premium volume and profits both head higher with only a mild drift upward in claims during the second quarter, sustaining a turnaround insurers began to see last year. 

Insurers reported $4.5 million in premium volumes between April and June 2025, with the total rising approximately 9.8% from one year earlier, according to the American Land Title Association's market share analysis. Compared to the first quarter, volumes rose 15.4% when the title industry generated $3.9 billion worth of premiums. 

Title underwriters began seeing signs of growing momentum in 2024, following a two-year slowdown. Despite improvement in corresponding mortgage borrowing volumes, a sluggish housing market characterized by challenging affordability levels is still applying overall downward pressure, ALTA noted.

"The title insurance industry continues to demonstrate resilience and reliability, even as the broader real-estate market faces headwinds," ALTA CEO Chris Morton said in a press release.

Earlier this summer, Fannie Mae lowered its 2025 expectations for originations, primarily due to slowing home sales, but this week forecasted a slight uptick for refinances. Mortgage borrowing is likely to improve next year, though, the government-sponsored enterprise said — a trend that would provide a boost to title insurers. 

"The housing market hangs in a delicate balancing act. Lower rates and improving affordability are pulling buyers back in, but the rate lock-in effect, labor market dynamics, and cooling inventory growth continue to dampen home sales," said First American Deputy Chief Economist Odeta Kushi in recent housing commentary.

Through the first six months of 2025, premium volumes also increased 13.2% compared to the same time frame a year earlier. 

Higher volumes translated to healthier profits. Operating income within the title insurance industry accelerated 12.8% on a year-over-year basis in the second quarter, ALTA reported. The industry held total assets of $11.5 billion.

Title insurers paid out $336 million in claims in the first half of the year, compared to $333 million through the first six months of 2024. 

How individual underwriters fared

First American Title Insurance Co. landed in the top industry spot in total underwriting share with 22.9% of volume during the quarter. Fidelity National Title Insurance Co. followed with 15%. Old Republic National Title Insurance Co. and Chicago Title Insurance Co., a subsidiary of Fidelity, came in at 13.8% and 13.3%, respectively. 

The most populous U.S. states, including some that saw a steady influx of new incoming residents over the past few years, topped the list in title premium volume. Texas posted $671.4 million, up 10.6% from 12 months earlier. Florida landed in the second spot with $536.5 million, but growth was more muted at 2%. California followed with $411.5 million of underwriting volume, representing a year-over-year increase of 8.7%.