Estimated title losses (Tables)

9 Months Ended

Sep. 30, 2018

Insurance [Abstract]

Summary of estimated title losses

A summary of estimated title losses for the nine months ended September 30 is as follows:

	2018		2017
	($000 omitted)
Balances at January 1	480,990		462,572
Provisions:
Current year	62,592		69,067
Previous policy years	(3,410	)	1,524
Total provisions	59,182		70,591
Payments, net of recoveries:
Current year	(9,466	)	(10,403	)
Previous policy years	(50,822	)	(53,491	)
Total payments, net of recoveries	(60,288	)	(63,894	)
Effects of changes in foreign currency exchange rates	(3,014	)	6,576
Balances at September 30	476,870		475,845
Loss ratios as a percentage of title operating revenues:
Current year provisions	4.5	%	5.0	%
Total provisions	4.3	%	5.1	%