Segment Information

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company has one reportable segment, title insurance services. The remaining immaterial segments have been combined into a group called “All Other.”

The title insurance segment primarily issues title insurance policies through approved attorneys from underwriting offices and through independent issuing agents. Title insurance policies insure titles to real estate.

Provided below is selected financial information about the Company's operations by segment for the periods ended June 30, 2023 and 2022:

Three Months Ended June 30, 2023 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	54,034	$	5,081	$	(5,691)	$	53,424
Net investment income	4,052		838		—		4,890
Total revenues	$	58,086	$	5,919	$	(5,691)	$	58,314
Operating expenses	51,161		2,825		(5,518)		48,468
Income before income taxes	$	6,925	$	3,094	$	(173)	$	9,846
Total assets	$	236,185	$	94,296	$	—	$	330,481

Three Months Ended June 30, 2022 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	83,478	$	3,242	$	(7,701)	$	79,019
Net investment loss	(7,084)		(1,033)		—		(8,117)
Total revenues	$	76,394	$	2,209	$	(7,701)	$	70,902
Operating expenses	72,234		3,265		(7,550)		67,949
Income (loss) before income taxes	$	4,160	$	(1,056)	$	(151)	$	2,953
Total assets	$	249,160	$	76,032	$	—	$	325,192

Six Months Ended June 30, 2023 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	100,200	$	10,824	$	(9,527)	$	101,497
Net investment income	6,579		1,581		—		8,160
Total revenues	$	106,779	$	12,405	$	(9,527)	$	109,657
Operating expenses	101,885		5,548		(9,183)		98,250
Income before income taxes	$	4,894	$	6,857	$	(344)	$	11,407
Total assets	$	236,185	$	94,296	$	—	$	330,481

Six Months Ended June 30, 2022 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	156,543	$	5,979	$	(12,589)	$	149,933
Net investment loss	(8,661)		(1,372)		—		(10,033)
Total revenues	$	147,882	$	4,607	$	(12,589)	$	139,900
Operating expenses	135,422		6,018		(12,286)		129,154
Income (loss) before income taxes	$	12,460	$	(1,411)	$	(303)	$	10,746
Total assets	$	249,160	$	76,032	$	—	$	325,192