Segment Information

9 Months Ended

Sep. 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 September 30, 2023 and 2022:

Three Months Ended September 30, 2023 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	59,182	$	5,057	$	(4,841)	$	59,398
Net investment income	1,037		975		—		2,012
Total revenues	$	60,219	$	6,032	$	(4,841)	$	61,410
Operating expenses	54,809		2,660		(4,669)		52,800
Income before income taxes	$	5,410	$	3,372	$	(172)	$	8,610
Total assets	$	226,105	$	105,810	$	—	$	331,915

Three Months Ended September 30, 2022 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	78,812	$	4,102	$	(6,164)	$	76,750
Net investment income	600		648		—		1,248
Total revenues	$	79,412	$	4,750	$	(6,164)	$	77,998
Operating expenses	71,516		2,406		(6,012)		67,910
Income before income taxes	$	7,896	$	2,344	$	(152)	$	10,088
Total assets	$	250,116	$	82,687	$	—	$	332,803

Nine Months Ended September 30, 2023 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	159,382	$	15,881	$	(14,368)	$	160,895
Net investment income	7,616		2,556		—		10,172
Total revenues	$	166,998	$	18,437	$	(14,368)	$	171,067
Operating expenses	156,694		8,208		(13,852)		151,050
Income before income taxes	$	10,304	$	10,229	$	(516)	$	20,017
Total assets	$	226,105	$	105,810	$	—	$	331,915

Nine Months Ended September 30, 2022 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	235,355	$	10,081	$	(18,753)	$	226,683
Net investment loss	(8,061)		(724)		—		(8,785)
Total revenues	$	227,294	$	9,357	$	(18,753)	$	217,898
Operating expenses	206,938		8,424		(18,298)		197,064
Income before income taxes	$	20,356	$	933	$	(455)	$	20,834
Total assets	$	250,116	$	82,687	$	—	$	332,803