While the majority of the publicly traded title insurance underwriters were profitable in the third quarter, First American Financial not only ended the period in the red, but posted a larger year-over-year net loss.
However, that loss was largely a result of an investment portfolio rebalancing that, while causing some short-term pain, should end up increasing investment income by $67 million per year when the funds are reinvested in higher yielding securities.
First American was the only large underwriter to do fewer orders
The third quarter was also the
The following is a roundup of the third quarter earnings from the remaining publicly traded title insurers.
