Old Republic Title Insurance Group (ORTIG) achieved record revenue levels again in 2018, resulting in continued, robust operating results. Long-term investments in both the agency and direct revenue channels, along with a tradition of doing business the “right way” through exceptional service and support to our title agents and customers, translated into market share gains in 2018.
For the first time ever, ORTIG surpassed the $2.3 billion mark in premiums and fees revenues. In addition, for the third straight year, pretax operating earnings exceeded $200 million. As it continues to be the case, the largest part (approximately 74 percent) of ORTIG’s premiums and fees come from our loyal, independent title agency network.
Claim costs were 2.1 percent of premiums and fees revenues in 2018. While higher than the 0.9 percent rate incurred in 2017, they reflect a continuing trend of favorable claim development.
For more information and 2018 financial highlights, see the Title Insurance Segment Results section of the January 24, 2019 News Release from Old Republic International Corporation, Old Republic Title's parent company.