The American Land Title Association (ALTA) reported substantial increases in title insurance premiums in four of the five largest-producing states led to a 3.5 percent increase in premium volume during the first quarter of 2012 compared to the same period a year ago.

According to ALTA’s preliminary 2012 First-Quarter Market Share Analysis, the title insurance industry generated $2.32 billion in title insurance premiums during the first three months of 2012. This is up from $2.25 billion in title insurance premiums written during the first quarter of 2011.

The states generating the most title insurance premiums during the first quarter of 2012 were California ($348 million, up 13.4 percent compared to the first quarter of 2011), Texas ($287 million, up 16.4 percent), Florida ($177 million, up 11.5 percent), New York ($174 million, up 5.5 percent) and Pennsylvania ($100 million, down 8.9 percent). Overall, 26 states and the District of Columbia reported increases in title insurance premiums written during the first three months of 2012 when compared to the same period in 2011. Illinois, Oregon, Georgia, Louisiana, Hawaii, Delaware and Mississippi all experienced double-digit increases in title insurance premiums written during the first quarter of 2012 versus the first quarter of 2011.

In terms of market share, the Fidelity Family of title insurance underwriters captured 33.3 percent of the market during the first quarter of 2012, while the First American Family garnered 27.3 percent, the Old Republic Family recorded 13.7 percent and the Stewart Family had 12.6 percent. Meanwhile, regional underwriters held 13.2 percent of the market during the first quarter of 2012, up from 12.6 percent market share during the same period a year ago.

ALTA expects to release its second-quarter 2012 Market Share Analysis around Sept. 1.

About ALTA

The American Land Title Association, founded in 1907, is a national trade association representing more than 4,000 title insurance companies, title agents, independent abstracters, title searchers, and attorneys. With offices throughout the United States, ALTA members conduct title searches, examinations, closings, and issue title insurance that protects real property owners and mortgage lenders against losses from defects in titles.