Stewarts 4th quarter and Year-End Market Share
Articles from The Massachusetts Focus
Newsletter of Stewart Title Guaranty Company, Massachusetts Offices
Spring 2008, Volume 7, Number 2
Stewart Title’s Amazing 4th Quarter and Year-End Market Share
by Craig J. Celli, Vice President and State Manager
Stewart Title reached historic heights in the 4th quarter. In years past Stewart has traditionally had a market share of 8% to 9%. In fact at the end of 2006, Stewart was at 8.4% and in 6th place in Massachusetts. However, after a 9.6% market share in the 3rd quarter and a phenomenal 15.7% in the 4th quarter, Stewart Title moved into 2nd place in the state with a year end 10.5% market share, an increase of 2.1% in 2007. In a $250 million dollar industry even a .5% increase would be considerable, but to move a full 2.1% is truly amazing.
Overall for 2007, title insurance premiums in Massachusetts were down 11.4%. Stewart, however, increased its total premiums by 10.2%, outpacing the market by over 20%. Most companies were either in line with the market downturn or in some cases had decreases in premium from 12% to 21%.
This has been a fantastic transformation to a company that faced tremendous challenges just 18 months ago. Our formula has been simple: Bringing on the best people to join our already strong existing staff and providing the best customer service in the business. By continuing to assist your firm in increasing revenues and working with you to decrease the amount of time it takes for you to complete the closing process, we are confident that you will reward Stewart with your business.
I would like to personally thank everyone here at Stewart for our initial success. We will not rest on this upswing but only use it as a spring board to even greater success. I would also like to thank you our customers. Clearly, without your loyalty and decision to write with Stewart, we could not have achieved these very exciting results.