Revenues from independent agencies increased $85.3 million, or 9.4%, in 2015 compared to 2014 and decreased $140.3 million, or 13.4%, in 2014 compared to 2013. Revenues from independent agencies fluctuate based on the same general factors that influence revenues from direct title operations, although we do not specifically know our agents’ order composition. The 2015 increase in agency revenues was generally consistent with that of our direct title operations' revenues. The decrease in 2014, relative to our direct revenues, was due to the higher proportion of refinancing transactions in our independent agencies than in our direct operations and certain of our 2014 acquisitions that formerly contributed to agency revenues but are now recorded as direct revenues. Consistent with our strategy for this channel, our focus is on increasing profit margins in every state, increasing premium revenue in states where remittance rates are above 20%, and maintaining the quality of our agency network, which we believe to be the industry’s best, in order to mitigate claims risk and drive consistent future performance. While market share is important in our agency operations channel, it is not as important as margins, risk mitigation and profitability.
Title losses. Provisions for title losses, as a percentage of title operating revenues, were 5.6%, 4.7% and 5.9% in 2015, 2014 and 2013, respectively, including adjustments to certain large claims and escrow losses. The title loss ratio in any given year can be significantly influenced by new large claims incurred as well as adjustments to reserves for existing large claims. We continue to manage and resolve large claims prudently and in keeping with our commitments to our policyholders.
Our principal sources of cash from operations are premiums on title policies and revenue from title service-related transactions and mortgage services. Our independent agencies remit cash to us net of their contractual retention. Our principal cash expenditures for operations are employee costs, operating costs and title claims payments.
Although our business is labor intensive, we are focused on a cost-effective, scalable business model which includes utilization of technology, centralized back and middle office functions and business process outsourcing. Our approach allows us to adjust more easily to seasonal and cyclical fluctuations in transaction volumes. As of December 31, 2015, we have completed the cost management program announced in 2014 and have achieved our revised target of $30.0 million of annualized savings, exceeding our original goal of $25.0 million.
Cash payments on title claims in 2015, 2014 and 2013 were $123.6 million, $86.7 million and $115.7 million, respectively. The increase in cash claims payments for 2015 was primarily the result of a $22.5 million payment to fully resolve a large prior policy year claim. Claim payments made, net of insurance recoveries, during 2015, 2014 and 2013 include $48.4 million, $5.4 million and $23.2 million, respectively, on large title claims.
During 2015 and 2014, we acquired approximately 762,000 and 685,000 shares, respectively, of our Common Stock for an aggregate purchase price of approximately $28.0 million and $22.0 million, respectively, pursuant to the previously announced $70 million stock repurchase program announced in the first quarter 2014. Including the dividends paid in 2015, we substantially completed $70 million of capital return to shareholders as of December 31, 2015.