FIRST AMERICAN REPORTS INCREASE IN 1998 NATIONAL TITLE INSURANCE MARKET SHARE
August 31, 1999, SANTA ANA, Calif.
Since 1957, First American has steadily increased its national market share and strengthened its position in a majority of states. In 1998, First American held the first or second market share position in 30 states and in the District of Columbia. This includes the leading position in California, the nation's largest market for title insurance, where the company captured 27 percent of that market. First American is also the largest title insurer in Canada.
"First American's strong, steady market share growth is the product of an exceptional, national sales force and dedicated employees," said Parker S. Kennedy, president of The First American Financial Corporation. "Their efforts are supported by our sophisticated technology systems and databases that allow us to quickly and efficiently deliver information to our expanding title insurance customer base of lenders, Realtors, builders/developers, attorneys and escrow officers. Future market share expansion will be driven by strategic acquisitions and a focused national sales effort to penetrate new markets by leveraging First American's strong relationships and cross-selling multiple title and information products and services."
The First American Financial Corporation, based in Santa Ana, Calif., is the nation's leading provider of business information and related products and services. The corporation's three primary business segments include: title insurance; real estate information and services, which includes mortgage origination, mortgage servicing and database products and services; and consumer information and services, which provides home warranties; automotive, subprime and direct-to-consumer credit reporting; insurance and automotive tracking services; resident screening; pre-employment screening; lender-placed flood and hazard insurance; investment advisory; and trust and banking services. Through its family of companies, First American Financial has nearly 20,000 employees in more than 600 branch offices in the United States and abroad. Information about the company and an archive of its press releases can be found on the Internet at www.firstam.com.