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Global Title Insurance Market Size, Share, Trends, Forecast: By Type: Owner's Title Insurance, Lender's Title Insurance; By End Use: Individual, Enterprises; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Global Title Insurance Market Outlook
The global title insurance market size is projected to grow at a CAGR of 7.4% between 2024 and 2032. The market is expected to be driven by the growth of the real estate sector and the increasing emphasis of property owners on securing protection against financial loss due to title defects.
Key Trends in the Market
Title insurance is a form of insurance for protection against financial loss for lenders and property owners. The insurance covers financial loss that can occur due to defects in the title of a property. The providers of such insurance run a comprehensive background check on every title for claims of any kind before any title is issued. A basic title insurance covers several risk factors like ownership by another party and flawed records.
- Just like other forms of insurance like homeowners insurance, title insurance is also gaining traction. With the growing investment in real estate in terms of both purchasing and selling, the demand for title insurance is expected to surge to protect the buyer from any unknown claims or defects in the title of the property concerned.
- With the rise in the value of the property insured, commercial transactions are expected to be higher against residential transactions , aiding the title insurance market growth. In many cases, businesses opt for title insurance as their facilities are situated in foreign countries and this allows them to obtain the security from an insurer based in their home country, backing up the documentation or evidence of title issued from land registration system of a foreign country.
- The title insurance companies are embracing technology to realise greater efficiency, proving to be one of the key title insurance market trends. As a result, there is a surge in acquisition and collaboration with technology companies that complement the agendas of the title insurance companies.
Market Analysis
Based on type, the market is segmented into owner’s title insurance and lender’s title insurance. In the case of an owner’s policy, it protects the owner of the property if any kind of title or ownership conflict arises in the future. On the contrary, a lender’s policy safeguards the lender in the event a past title or ownership problem arises post the transaction for the real estate has been facilitated.
On the basis of end use, the market can be bifurcated into individual and enterprises. Title insurance companies are engaged in providing full service real estate title insurance to both individuals and businesses engaged in property transactions. By region, the title insurance market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global title insurance market, co vering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- First American Financial Corp
- Fidelity National Financial, Inc.
- Old Republic General Insurance Group, Inc.
- AXA SA
- Stewart Information Services Corporation
- Westcor Land Title Insurance Company, Inc.
- Williston Financial Group LLC
- Investors Title Company
- Mathis Title Company
- Others
Market Share by End Use
As per the title insurance market analysis, the demand for title insurance among both individuals and enterprises is likely to increase. The demand for housing is increasing due to factors such as rising disposable income and increasing urbanisation. Further, with the incorporation of technology, virtual tours of the houses have become easier for real estate agents, speeding up the sale of properties. HD and 3D listing pictures that give a full home tour have helped to offer a better service. Additionally, with the economies surging and workers returning to office post-pandemic, the demand for commercial properties is growing.
Market Share by Region
High mortgage rates have affected the purchasing power of people in key markets like the USA. The inventory of homes remains low and as a result, the prices have been on a higher scale. However, in the longer run, it is expected that favourable market conditions such as demographics will benefit the new purchase of houses. Further, in commercial transactions, although there has been significant weakness in the demand for office space, industrial and retail assets have held a stronger position.
Countries such as Canada and Australia, along with regions like Europe are expected to offer strong growth opportunities for title insurance companies in the long term. In Canada, the housing listings with price changes is surging as sellers are not getting the asking price for their properties and are adjusting the prices to attract buyers.
Low Activity in Housing Market From 2022
After many title insurance companies observed record revenues in 2021, the title insurance market observed some challenges as a result of the fluctuations in the housing market. Due to rise in mortgage rates and higher income prices, there has been a slowdown in the homebuyer’s demand, mostly in H2 2022. The year 2022 observed contraction in housing starts, sales, as well as prices.
Going forward, it is expected that mortgage rates will impact demand and prices of homes heavily through 2023 and into 2024. Increase in cost of living is also expected to delay home buying activities.
Competitive Landscape
First American Financial Corp offers financial services through its two core segments including title insurance and services segment as well as speciality insurance segment. It provides its services to real estate professionals, loan originators and servicers, commercial property professionals, homebuilders, among entities engaged in the residential and commercial property transactions. The company is listed on the New York Stock Exchange under the ticker FAF and is headquartered in Santa Ana, California.
Fidelity National Financial, Inc., headquartered in Florida, is an insurance and settlement services provider to real estate and mortgage industries. Along with closing and escrow services, it offers title related services to both residential and commercial property owners. The company is listed on the New York Stock Exchange under the symbol FNF. The title insurance company issues title insurance policies through its title insurance underwriters including Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title, and National Title of New York.
Old Republic General Insurance Group, Inc. specialises in property and casualty marketplace. The company has 95 offices around 65 cities across the United States and is headquartered in Illinois.
Other players operating in the title insurance market include AXA SA, Stewart Information Services Corporation, Westcor Land Title Insurance Company, Inc., Williston Financial Group LLC, Investors Title Company, and Mathis Title Company, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Title Insurance Market Analysis
8.1 Key Industry Highlights
8.2 Global Title Insurance Historical Market (2018-2023)
8.3 Global Title Insurance Market Forecast (2024-2032)
8.4 Global Title Insurance Market by Type
8.4.1 Owner's Title Insurance
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Lender's Title Insurance
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Title Insurance Market by End Use
8.5.1 Individual
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Enterprises
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Title Insurance Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Title Insurance Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Title Insurance Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Title Insurance Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Title Insurance Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Title Insurance Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 First American Financial Corp.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Fidelity National Financial, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Old Republic General Insurance Group, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 AXA SA
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Stewart Information Services Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Westcor Land Title Insurance Company, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Williston Financial Group LLC
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Investors Title Company
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Mathis Title Company
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Title Insurance Market: Key Industry Highlights, 2018 and 2032
2. Global Title Insurance Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Title Insurance Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Title Insurance Historical Market: Breakup by End Use (USD Million), 2018-2023
5. Global Title Insurance Market Forecast: Breakup by End Use (USD Million), 2024-2032
6. Global Title Insurance Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Title Insurance Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Title Insurance Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Title Insurance Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Title Insurance Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Title Insurance Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Title Insurance Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Title Insurance Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Title Insurance Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Title Insurance Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Title Insurance Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Title Insurance Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Title Insurance Market Structure
Key Questions Answered in the Report
The market is estimated to witness a healthy growth in the forecast period, expanding at a CAGR of 7.4% between 2024 and 2032.
The factors such as home sales, refinancing activities, economic activities, employment trends, monetary policies, and demographics, among others, are aiding the growth of the market.
Tile insurance companies are leveraging technology to promote ease and comfort in making transaction for property owners and increasing efficiency in their business workflow.
The major regional markets for title insurance include North America, Europe, the Asia Pacific, L atin America, and the Middle East and Africa.
On the basis of type, there are two title insurance variations including owner’s and lender’s title insurance.
Individuals and enterprises are the two end use segments of title insurance.
The key market players include First American Financial Corp, Fidelity National Financial, Inc., Old Republic General Insurance Group, Inc., AXA SA, Stewart Information Services Corporation, Westcor Land Title Insurance Company, Inc., Williston Financial Group LLC, Investors Title Company, and Mathis Title Company, among others.
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