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Segment Information
12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has two reportable segments, title insurance and exchange services. The remaining immaterial segments have been combined into a group called “All Other.” The Company’s chief operating decision makers (“CODMs”) are the Chief Executive Officer; President, Chief Financial Officer, Chief Accounting Officer, and Treasurer; and Executive Vice President and Secretary. The CODMs use financial metrics such as consolidated operating margin and net income to assess financial performance and to make key operating decisions, such as resource allocation and the rate at which the Company invests in growth opportunities.

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.

The tax-deferred exchange services segment acts as an intermediary in tax-deferred exchanges of property held for productive use in a trade or business or for investments and serves as exchange accommodation titleholder, holding property for exchangers in reverse exchange transactions.
Provided below is selected financial information about the Company’s operations by segment for the periods ended December 31, 2024 and 2023:
2024 (in thousands)Title
Insurance
Exchange
Services
All
Other
Intersegment
Eliminations
Total
Insurance and other services revenues$242,529 $10,746 $8,192 $(21,109)$240,358 
Net investment income 12,804 358 4,778  17,940 
Total revenues255,333 11,104 12,970 (21,109)258,298 
Commissions to agents120,307   (12,964)107,343 
Provision for claims4,530    4,530 
Personnel expenses64,138 2,425 5,950  72,513 
Other34,393 333 3,149 (3,426)34,449 
Total operating expenses223,368 2,758 9,099 (16,390)218,835 
Income before income taxes$31,965 $8,346 $3,871 $(4,719)$39,463 
Total assets$232,932 $6,179 $94,460 $ $333,571 
2023 (in thousands)Title
Insurance
Exchange
Services
All
Other
Intersegment
Eliminations
Total
Insurance and other services revenues$207,140 $13,270 $7,800 $(19,715)$208,495 
Net investment income 12,303 196 3,756 — 16,255 
Total revenues219,443 13,466 11,556 (19,715)224,750 
Commissions to agents98,170 — — (14,796)83,374 
Provision for claims4,762 — — — 4,762 
Personnel expenses68,851 2,236 5,619 — 76,706 
Other33,196 282 3,266 (3,066)33,678 
Total operating expenses204,979 2,518 8,885 (17,862)198,520 
Income before income taxes$14,464 $10,948 $2,671 $(1,853)$26,230 
Total assets$216,622 $5,534 $108,403 $— $330,559