Title Insurance Carriers
Companies in this industry offer insurance policies to protect homeowners and other owners of real estate, as well as real estate creditors. Major companies include Fidelity National Financial, First American Title Insurance, and Old Republic National Title.
Many large US-based companies provide title insurance in Europe and in countries such as Australia, Canada, India, Mexico, and South Korea, often for US buyers and lenders. The reliability of government systems of land registration reduces the market for title insurance in countries other than the US, however. The European title insurance market amounts to about only 1% of the US market. The US has no single, comprehensive system of land registration.
The US title insurance industry includes about 4,100 establishments with combined annual revenue of about $16 billion.
Home sales and mortgage refinancing are the primary drivers of demand for the title insurance industry. The profitability of individual companies depends on efficient operations because of the large volume of transactions. Large companies benefit from economies of scale in access to large accumulated databases of property records. Small companies can mainly compete by specializing in nonstandard titles or in geographical regions that the large companies don't cover. The US industry is highly concentrated: the 20 largest companies account for about 95% of revenue.
Products, Operations & Technology
About 75% of industry revenue comes from title insurance products and premiums; about 15% comes from title search, title reconveyance and other fees. The
Sales & Marketing
Finance & Regulation
Regional & International Issues
Also includes the following chapters:
Quarterly Industry Update
Trends and Opportunities
Call Preparation Questions
Glossary of Acronyms