With the housing industry down across the board, upstart title insurance firms couldn’t maintain strong growth rates in 2023. Just three title insurance firms made the annual Inc. 5000 list, a growth-based ranking of U.S.-based privately held and independent companies. Nine title insurers made the list in 2022.
Each business had a minimum revenue of $190,000 in 2019 and $2 million in 2022, according to the business magazine.
The top title insurance firm to make the 2023 list was AccuTitle, which placed 1,556 out of 5,000 companies, with a three-year growth average of 369%.
New Jersey-based AccuTitle has title management platforms TitleFusion, Landtech, Closers’ Choice and TrackerPro. It’s the third consecutive year that AccuTitle, founded in 2003, has made the Inc. 5000 list. AccuTitle was No. 1115 in 2022.
Virginia Beach, VA-based Priority Title made the list again in 2023. The title insurance firm ranked No. 4,206 in 2023 with a three-year growth rate of 106%. Priority, run by Joseph LaMontagne, focused in growth in 2019 and was well positioned to handle the volume from the pandemic boom years of 2020 and 2021. The industry declined in 2022 — as was expected — and that impacted Priority. They slipped in the Inc. 5000 rankings from No. 984 in 2022 to 4,206 in 2023. The firm, however, has made the list in each of the past seven years.
Also appearing in 2023 was First National Title Insurance Company, which came in at No. 4919 in the rankings with a three-year growth rate of 77%. The Plano, Texas-based title insurance firm was ranked No. 3792 in 2022), and this is the seventh consecutive year it has appeared on the Inc. rankings.
Meanwhile, several homeowner’s insurance companies also made the rankings — Kin Insurance (No. 109), Neptune Flood (732), Safely (1,089) and Obie (2,316).
Housing companies in general had a poor showing on the Inc. 5000 list in 2023 — just 16 mortgage lenders and brokerages appeared, down from nearly 70 a year prior. Similarly, only 37 real estate brokerages and teams made the 2023 list, down from over 60 the year prior.
Rank
Company
Growth (3-yr Avg.)
HW Media Category
109
Kin Insurance
4,342%
Homeowners Insurance
732
Neptune Flood
803%
Homeowners Insurance
1,089
Safely
544%
Homeowners Insurance
1,556
AccuTitle
369%
Title Insurance
2,316
Obie
238%
Homeowners Insurance
4,204
Priority Title & Escrow
106%
Title Insurance
4,919
First National Title Insurance Company
77%
Title Insurance
Source: Inc. 5000 – 2023
