The market share gap between Fidelity National Financial and First American continues to shrink, even as both companies are losing business to smaller national and regional competitors, according to first quarter data compiled by the American Land Title Association.
When Fidelity acquired the underwriting units of LandAmerica at the end of 2008, it zoomed past First American and became the largest title underwriter with a 45% market share. First American's market share back then was a shade under 29%.
The most recent ALTA data shows Fidelity at 33.7% market share and First American at 27.7%; for the same period one year prior, they were at 36.9% and 28.3% respectively.
Meanwhile, Old Republic has passed Stewart for third place among the four national players, with its market share reaching 13.5% from 10.5% in the first quarter 2010. Stewart's share fell to 12.5% from 13.7% during the same time frame.
In addition, as a group, the regional title insurers have more market share than Stewart, at 12.6%; for the first quarter 2010, their market share was 10.7%.
