Investors Title (ITIC) 10-Q7 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2024	Oct. 25, 2024
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	0-11774
Entity Central Index Key	0000720858
Entity Registrant Name	INVESTORS TITLE CO
Entity Incorporation, State or Country Code	NC
Entity Tax Identification Number	56-1110199
Entity Address, Address Line One	121 North Columbia Street
Entity Address, City or Town	Chapel Hill
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27514
City Area Code	919
Local Phone Number	968-2200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,884,097
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	ITIC
Security Exchange Name	NASDAQ
RightsToPurchaseSeriesAJuniorParticipatingPreferredStock [Member]
Entity Information [Line Items]
No Trading Symbol Flag	true
Title of 12(b) Security	Rights to Purchase Series A Junior Participating Preferred Stock
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets:
Cash and cash equivalents	$ 25,464	$ 24,031
Investments in securities:
Fixed maturity securities, available-for-sale, at fair value (amortized cost: September 30, 2024: $102,051; December 31, 2023: $63,106)	103,368	63,847
Equity securities, at fair value (cost: September 30, 2024: $23,540; December 31, 2023: $22,981)	37,753	37,212
Short-term investments	87,449	110,224
Other investments	20,640	17,385
Total investments	249,210	228,668
Premiums and fees receivable	14,228	13,338
Accrued interest and dividends	1,468	978
Prepaid expenses and other receivables	9,585	13,525
Property, net	27,453	23,886
Goodwill and other intangible assets, net	15,349	16,249
Lease assets	5,883	6,303
Other assets	2,649	2,500
Current income taxes recoverable	697	1,081
Total Assets	351,986	330,559
Liabilities:
Reserve for claims	37,049	37,147
Accounts payable and accrued liabilities	33,911	31,864
Lease liabilities	6,088	6,449
Deferred income taxes, net	3,625	3,546
Total liabilities	80,673	79,006
Commitments and Contingencies	0	0
Stockholders' Equity:
Preferred stock (1,000 authorized shares; no shares issued)	0	0
Common stock – no par value (10,000 authorized shares; 1,884 and 1,891 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively, excluding in each period 292 shares of common stock held by the Company)	0	0
Retained earnings	270,225	250,915
Accumulated other comprehensive income	1,088	638
Total stockholders' equity	271,313	251,553
Total Liabilities and Stockholders’ Equity	$ 351,986	$ 330,559

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ / shares in Thousands, $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Fixed maturities, available-for-sale, amortized cost	$ 102,051	$ 63,106
Equity securities, cost	$ 23,540	$ 22,981
Preferred stock, shares authorized	1,000	1,000
Preferred stock, shares issued	0	0
Common stock, no par value	$ 0	$ 0
Common stock, shares authorized	10,000	10,000
Common stock, shares issued	1,884	1,891
Common stock, shares outstanding	1,884	1,891
Common stock, held by Company's subsidiary	292	292

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Net premiums written	$ 54,855	$ 49,822	$ 146,451	$ 132,793
Escrow and other title-related fees	4,574	4,683	13,098	12,942
Non-title services	4,305	4,636	12,913	14,513
Interest and dividends	2,736	2,313	7,824	6,537
Other investment income	995	514	1,996	2,915
Net investment gains (losses)	976	(815)	4,640	720
Other	388	257	748	647
Total Revenues	68,829	61,410	187,670	171,067
Operating Expenses:
Commissions to agents	29,089	23,806	75,509	63,735
Provision for claims	1,668	1,838	3,483	3,897
Personnel expenses	18,057	19,083	54,793	58,451
Office and technology expenses	4,388	4,209	13,161	13,122
Other expenses	4,039	3,864	12,072	11,845
Total Operating Expenses	57,241	52,800	159,018	151,050
Income before Income Taxes	11,588	8,610	28,652	20,017
Provision for Income Taxes	2,273	1,526	5,941	4,167
Net Income	$ 9,315	$ 7,084	$ 22,711	$ 15,850
Basic Earnings per Common Share	$ 4.94	$ 3.75	$ 12.05	$ 8.37
Weighted Average Shares Outstanding – Basic	1,884	1,891	1,885	1,894
Diluted Earnings per Common Share	$ 4.92	$ 3.75	$ 12.02	$ 8.37
Weighted Average Shares Outstanding – Diluted	1,893	1,891	1,889	1,894

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 9,315	$ 7,084	$ 22,711	$ 15,850
Other comprehensive (loss) income, before tax:
Accumulated postretirement (benefit) expense obligation adjustment	0	(7)	0	127
Net unrealized gains (losses) on investments arising during the period	1,171	(1,250)	501	(1,547)
Reclassification adjustment for write-down of securities included in net income	0	96	74	208
Other comprehensive income (loss), before income tax	1,171	(1,161)	575	(1,212)
Income tax (benefit) expense related to postretirement health benefits	0	(1)	0	27
Income tax expense (benefit) related to net unrealized gains (losses) on investments arising during the period	251	(266)	107	(332)
Income tax expense related to reclassification adjustment for write-down of securities included in net income	0	22	18	48
Net income tax expense (benefit) on other comprehensive income (loss)	251	(245)	125	(257)
Other comprehensive income (loss), net of tax	920	(916)	450	(955)
Comprehensive Income	$ 10,235	$ 6,168	$ 23,161	$ 14,895

Consolidated Statements Of Stoc

Consolidated Statements Of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income
Balance, beginning of period, shares at Dec. 31, 2022		1,897
Balance, beginning of period at Dec. 31, 2022	$ 241,011	$ 0	$ 240,811	$ 200
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,850		15,850
Dividends paid	(2,616)		(2,616)
Repurchases of common stock (in shares)		(7)
Repurchases of common stock	(959)		(959)
Exercise of stock appreciation rights (in shares)		1
Exercise of stock appreciation rights	0		0
Share-based compensation expense related to stock appreciation rights	337		337
Accumulated postretirement benefit obligation adjustment	100			100
Net unrealized gain (loss) on investments	(1,055)			(1,055)
Balance, end of period, shares at Sep. 30, 2023		1,891
Balance, end of period at Sep. 30, 2023	252,668	$ 0	253,423	(755)
Balance, beginning of period, shares at Jun. 30, 2023		1,891
Balance, beginning of period at Jun. 30, 2023	247,253	$ 0	247,092	161
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,084		7,084
Dividends paid	(870)		(870)
Share-based compensation expense related to stock appreciation rights	117		117
Accumulated postretirement benefit obligation adjustment	(6)			(6)
Net unrealized gain (loss) on investments	(910)			(910)
Balance, end of period, shares at Sep. 30, 2023		1,891
Balance, end of period at Sep. 30, 2023	252,668	$ 0	253,423	(755)
Balance, beginning of period, shares at Dec. 31, 2023		1,891
Balance, beginning of period at Dec. 31, 2023	251,553	$ 0	250,915	638
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	22,711		22,711
Dividends paid	(2,600)		(2,600)
Repurchases of common stock (in shares)		(7)
Repurchases of common stock	(1,098)		(1,098)
Exercise of stock appreciation rights (in shares)		0
Exercise of stock appreciation rights	1		1
Share-based compensation expense related to stock appreciation rights	296		296
Accumulated postretirement benefit obligation adjustment	0
Net unrealized gain (loss) on investments	450			450
Balance, end of period, shares at Sep. 30, 2024		1,884
Balance, end of period at Sep. 30, 2024	271,313	$ 0	270,225	1,088
Balance, beginning of period, shares at Jun. 30, 2024		1,884
Balance, beginning of period at Jun. 30, 2024	261,816	$ 0	261,648	168
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	9,315		9,315
Dividends paid	(867)		(867)
Exercise of stock appreciation rights (in shares)		0
Exercise of stock appreciation rights	1		1
Share-based compensation expense related to stock appreciation rights	128		128
Net unrealized gain (loss) on investments	920			920
Balance, end of period, shares at Sep. 30, 2024		1,884
Balance, end of period at Sep. 30, 2024	$ 271,313	$ 0	$ 270,225	$ 1,088

Consolidated Statements Of St_2

Consolidated Statements Of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Common stock, dividends, per share, cash paid	$ 0.46	$ 0.46	$ 1.38	$ 1.38

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating Activities
Net income	$ 22,711	$ 15,850
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	2,491	2,005
Accretion of investments, net	(3,070)	(2,663)
Amortization of other intangible assets, net	900	982
Share-based compensation expense related to stock appreciation rights	296	337
Net gain on disposals of property	(230)	(99)
Net investment gains	(4,640)	(720)
Net earnings from other investments	(1,326)	(2,445)
Provision for claims	3,483	3,897
Benefit for deferred income taxes	(45)	(4,021)
Changes in assets and liabilities:
(Increase) decrease in premium and fees receivable	(890)	1,725
Decrease (increase) in other assets	340	(4,029)
Decrease in lease assets	420	275
Decrease in current income taxes receivable	384	1,174
Increase (decrease) in accounts payable and accrued liabilities	809	(16,204)
Decrease in lease liabilities	(361)	(200)
Increase in current income taxes payable	0	1,008
Payments of claims, net of recoveries	(3,581)	(3,595)
Net cash provided by (used in) operating activities	17,691	(6,723)
Investing Activities
Purchases of fixed maturity securities	(47,296)	(18,445)
Purchases of equity securities	(6,979)	(7,934)
Purchases of short-term investments	(97,963)	(113,548)
Purchases of other investments	(5,628)	(2,765)
Proceeds from sales and maturities of fixed maturity securities	9,200	6,312
Proceeds from sales of equity securities	11,238	28,836
Proceeds from sales and maturities of short-term investments	124,494	115,829
Proceeds from sales and distributions of other investments and assets	6,201	3,327
Purchases of property	(6,075)	(6,621)
Proceeds from the sale of property	247	407
Net cash (used in) provided by investing activities	(12,561)	5,398
Financing Activities
Repurchases of common stock	(1,098)	(959)
Proceeds from Stock Options Exercised	1	0
Dividends paid	(2,600)	(2,616)
Net cash used in financing activities	(3,697)	(3,575)
Net Increase (Decrease) in Cash and Cash Equivalents	1,433	(4,900)
Cash and Cash Equivalents, Beginning of Period	24,031	35,311
Cash and Cash Equivalents, End of Period	25,464	30,411
Cash Paid During the Year for:
Income tax payments, net	5,644	6,968
Non-cash net unrealized (gain) loss on investments, net of deferred tax (provision) benefit of $(125) and $284 for September 30, 2024 and 2023, respectively	(450)	1,055
Adjustments to postretirement benefits obligation, net of deferred tax expense of $0 and $(27) for September 30, 2024 and 2023, respectively	$ 0	$ (100)

Consolidated Statements Of Ca_2

Consolidated Statements Of Cash Flows (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Statement of Cash Flows [Abstract]
Deferred tax benefit (provision) related to unrealized loss (gain) on investments	$ (125)	$ 284
Deferred tax expense related to postretirement benefits obligation	$ 0	$ (27)

Basis Of Presentation And Signi

Basis Of Presentation And Significant Accounting Policies	9 Months Ended
Basis Of Presentation And Significant Accounting Policies	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation And Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Reference should be made to the “Notes to Consolidated Financial Statements” appearing in the Annual Report on Form 10-K for the year ended December 31, 2023 of Investors Title Company (the “Company”) for a complete description of the Company’s significant accounting policies. Principles of Consolidation – The accompanying unaudited Consolidated Financial Statements include the accounts and operations of Investors Title Company and its subsidiaries, and have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information, with the instructions to Form 10-Q and with Article 10 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in annual consolidated financial statements have been condensed or omitted. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows of the Company in the accompanying unaudited Consolidated Financial Statements have been included. All such adjustments are of a normal recurring nature. Operating results for the three- and nine-month periods ended September 30, 2024 are not necessarily indicative of the financial condition and results that may be expected for the year ending December 31, 2024 or any other interim period. Use of Estimates and Assumptions – The preparation of the Company’s unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities, at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions used. Subsequent Events – The Company has evaluated and concluded that there were no material subsequent events requiring adjustment or disclosure to its unaudited Consolidated Financial Statements.

Reserves For Claims

Reserves For Claims	9 Months Ended
Reserves For Claims	Sep. 30, 2024
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Reserves For Claims	Reserve for Claims Activity in the reserve for claims for the nine-month period ended September 30, 2024 and the year ended December 31, 2023 is summarized as follows: (in thousands) September 30, 2024 December 31, 2023 Balance, beginning of period $ 37,147 $ 37,192 Provision charged to operations 3,483 4,762 Payments of claims, net of recoveries (3,581) (4,807) Balance, end of period $ 37,049 $ 37,147 The total reserve for all reported and unreported losses the Company incurred through September 30, 2024 is represented by the reserve for claims on the unaudited Consolidated Balance Sheets. The Company's reserves for unpaid losses and loss adjustment expenses are established using estimated amounts required to settle claims for which notice has been received (reported) and the amount estimated to be required to satisfy claims that have been incurred but not yet reported (“IBNR”). Despite the variability of such estimates, management believes that the total reserve for claims is adequate to cover claim losses which might result from pending and future claims under title insurance policies issued through September 30, 2024. Management continually reviews and adjusts its reserve for claims estimates to reflect its loss experience and any new information that becomes available. Adjustments resulting from such reviews could be significant. A summary of the Company’s reserve for claims, broken down into its components of known title claims and IBNR, follows: (in thousands, except percentages) September 30, 2024 % December 31, 2023 % Known title claims $ 2,742 7.4 $ 2,855 7.7 IBNR 34,307 92.6 34,292 92.3 Total reserve for claims $ 37,049 100.0 $ 37,147 100.0 Claims and losses paid are charged to the reserve for claims. Although claims losses are typically paid in cash, occasionally claims are settled by purchasing the interest of the insured or the claimant in the real property. When this event occurs, the Company carries assets at the lower of cost or estimated fair value, net of any indebtedness on the property.

Earnings Per Common Share And S

Earnings Per Common Share And Share Awards	9 Months Ended
Earnings Per Common Share And Share Awards	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Common Share And Share Awards	Earnings Per Common Share and Share Awards Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per common share is computed by dividing net income by the combination of dilutive potential common stock, comprised of shares issuable under the Company’s share-based compensation plans, and the weighted average number of common shares outstanding during the reporting period. Dilutive common share equivalents include the dilutive effect of in-the-money share-based awards, which are calculated based on the average share price for each period using the treasury stock method. Under the treasury stock method, when share-based awards are assumed to be exercised, (a) the exercise price of a share-based award and (b) the amount of compensation cost, if any, for future services that the Company has not yet recognized, are assumed to be used to repurchase shares in the current period. The following table sets forth the computation of basic and diluted earnings per share for the three- and nine-month periods ended September 30: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2024 2023 2024 2023 Net income $ 9,315 $ 7,084 $ 22,711 $ 15,850 Weighted average common shares outstanding – Basic 1,884 1,891 1,885 1,894 Incremental shares outstanding assuming the exercise of dilutive SARs (share-settled) 9 — 4 — Weighted average common shares outstanding – Diluted 1,893 1,891 1,889 1,894 Basic earnings per common share $ 4.94 $ 3.75 $ 12.05 $ 8.37 Diluted earnings per common share $ 4.92 $ 3.75 $ 12.02 $ 8.37 There were 0 and 24 thousand potential shares excluded from the computation of diluted earnings per share for the three-month periods ended September 30, 2024 and 2023, respectively, due to the out-of-the-money status of the related share-based awards. There were 4 thousand and 24 thousand potential shares excluded from the computation of diluted earnings per share for the nine-month periods ended September 30, 2024 and 2023, respectively, due to the out-of-the-money status of the related share-based awards. The Company historically has adopted employee stock award plans under which restricted stock, options or stock appreciation rights ("SARs") exercisable for the Company's stock may be granted to key employees or directors of the Company. There is currently one active plan from which the Company may grant share-based awards. The awards eligible to be granted under the active plan are limited to SARs, and the maximum aggregate number of shares of common stock of the Company available pursuant to the plan for the grant of SARs is 250 thousand shares. SARs give the holder the right to receive stock equal to the appreciation in the value of shares of stock from the grant date for a specified period of time, and as a result, are accounted for as equity instruments. As of September 30, 2024, the only outstanding awards under the plans were SARs, which expire within seven years or less from the date of grant. All outstanding SARs vest and are exercisable within five years or less from the date of grant, and all SARs issued to date have been share-settled only. There have been no stock options or SARs granted where the exercise price was less than the market price on the date of grant. A summary of share-based award transactions for all share-based award plans follows: (in thousands, except weighted average exercise price and average remaining contractual term) Number Weighted Average Remaining Aggregate Outstanding as of January 1, 2023 39 $ 159.39 4.10 $ 243 SARs granted 5 142.88 SARs exercised (2) 93.87 Outstanding as of December 31, 2023 42 $ 160.83 3.69 $ 428 SARs granted 5 160.94 SARs exercised (4) 154.13 SARs forfeited or expired (4) 192.71 Outstanding as of September 30, 2024 39 $ 157.74 3.85 $ 2,783 Exercisable as of September 30, 2024 31 $ 159.86 3.61 $ 2,180 Unvested as of September 30, 2024 8 $ 148.86 4.83 $ 603 During the second quarter of 2024, the Company issued 5 thousand share-settled SARs to directors of the Company. During the second quarter of 2023, the Company issued 4 thousand share-settled SARs to directors of the Company. During the first quarter of 2023, the Company issued 1 thousand share-settled SARs to a director of the Company. There was no such first quarter issuance of SARs during the first quarter of 2024. The fair value of each SAR is estimated on the date of grant using the Black-Scholes option valuation model. Expected volatilities are based on both the implied and historical volatility of the Company’s stock. The Company uses historical data to project SAR exercises and pre-exercise forfeitures within the valuation model. The expected term of awards represents the period of time that SARs granted are expected to be outstanding. The interest rate assumed for the expected life of the award is based on the U.S. Treasury yield curve in effect at the time of the grant. The weighted average fair values for the SARs issued during 2024 and 2023 were $64.00 and $55.52, respectively, and were estimated using the weighted average assumptions shown in the table below: 2024 2023 Expected Life in Years 7.0 6.2 - 7.0 Volatility 35.0% 36.6% Interest Rate 4.4% 3.7% Yield Rate 1.1% 1.2%

Segment Information

Segment Information	9 Months Ended
Segment Information	Sep. 30, 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 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 September 30, 2024 and 2023: Three Months Ended Title Exchange All Intersegment Eliminations Total Insurance and other services revenues $ 63,272 $ 2,634 $ 2,252 $ (4,036) $ 64,122 Net investment income 3,681 115 911 — 4,707 Total revenues $ 66,953 $ 2,749 $ 3,163 $ (4,036) $ 68,829 Operating expenses 58,211 668 2,244 (3,882) 57,241 Income before income taxes $ 8,742 $ 2,081 $ 919 $ (154) $ 11,588 Total assets $ 231,805 $ 10,446 $ 109,735 $ — $ 351,986 Three Months Ended Title Exchange All Intersegment Eliminations Total Insurance and other services revenues $ 59,182 $ 3,141 $ 1,916 $ (4,841) $ 59,398 Net investment income 1,037 47 928 — 2,012 Total revenues $ 60,219 $ 3,188 $ 2,844 $ (4,841) $ 61,410 Operating expenses 54,809 603 2,057 (4,669) 52,800 Income before income taxes $ 5,410 $ 2,585 $ 787 $ (172) $ 8,610 Total assets $ 226,105 $ 5,399 $ 100,411 $ — $ 331,915 Nine Months Ended Title Exchange All Intersegment Eliminations Total Insurance and other services revenues $ 171,767 $ 8,120 $ 6,156 $ (12,833) $ 173,210 Net investment income 10,675 280 3,505 — 14,460 Total revenues $ 182,442 $ 8,400 $ 9,661 $ (12,833) $ 187,670 Operating expenses 162,566 2,030 6,775 (12,353) 159,018 Income before income taxes $ 19,876 $ 6,370 $ 2,886 $ (480) $ 28,652 Total assets $ 231,805 $ 10,446 $ 109,735 $ — $ 351,986 Nine Months Ended Title Exchange All Intersegment Eliminations Total Insurance and other services revenues $ 159,382 $ 10,066 $ 5,815 $ (14,368) $ 160,895 Net investment income 7,616 133 2,423 — 10,172 Total revenues $ 166,998 $ 10,199 $ 8,238 $ (14,368) $ 171,067 Operating expenses 156,694 1,811 6,397 (13,852) 151,050 Income before income taxes $ 10,304 $ 8,388 $ 1,841 $ (516) $ 20,017 Total assets $ 226,105 $ 5,399 $ 100,411 $ — $ 331,915

Retirement Agreements And Other

Retirement Agreements And Other Postretirement Benefits	9 Months Ended
Retirement Agreements And Other Postretirement Benefits	Sep. 30, 2024
Retirement Benefits [Abstract]
Retirement Agreements And Other Postretirement Benefits	Retirement Agreements and Other Postretirement Benefits The Company’s subsidiary, Investors Title Insurance Company ("ITIC"), is a party to employment agreements with key executives that provide for the continuation of certain employee benefits and other payments due under the agreements upon retirement, estimated to total $15.3 million and $15.2 million as of September 30, 2024 and December 31, 2023, respectively. The executive employee benefits include health, dental, vision and life insurance and are unfunded. These amounts are classified as accounts payable and accrued liabilities in the unaudited Consolidated Balance Sheets. The following sets forth the net periodic benefit cost for the executive benefits for the periods ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Service cost – benefits earned during the year $ — $ — $ — $ — Interest cost on the projected benefit obligation 11 10 34 30 Amortization of unrecognized gain — (7) — (21) Net periodic benefit cost $ 11 $ 3 $ 34 $ 9

Investments In Securities and F

Investments In Securities and Fair Value	9 Months Ended
Investments In Securities and Fair Value	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments In Securities and Fair Value	Investments and Estimated Fair Value Investments in Fixed Maturity Securities The estimated fair value, gross unrealized holding gains, gross unrealized holding losses and amortized cost for fixed maturity securities by major classification are as follows: As of September 30, 2024 (in thousands) Amortized Gross Gross Estimated Fair Fixed maturity securities, available-for-sale, at fair value: Government obligations $ 549 $ 3 $ — $ 552 General obligations of U.S. states, territories and political subdivisions 9,330 48 (15) 9,363 Special revenue issuer obligations of U.S. states, territories and political subdivisions 21,821 97 (23) 21,895 Corporate debt securities 70,351 1,210 (3) 71,558 Total $ 102,051 $ 1,358 $ (41) $ 103,368 As of December 31, 2023 (in thousands) Amortized Gross Gross Estimated Fair Fixed maturity securities, available-for-sale, at fair value: Government obligations $ 2,220 $ 2 $ (2) $ 2,220 General obligations of U.S. states, territories and political subdivisions 9,419 64 (24) 9,459 Special revenue issuer obligations of U.S. states, territories and political subdivisions 24,908 145 (66) 24,987 Corporate debt securities 26,559 655 (33) 27,181 Total $ 63,106 $ 866 $ (125) $ 63,847 The special revenue category for both periods presented includes approximately 30 individual fixed maturity securities with revenue sources from a variety of industry sectors. The scheduled maturities of fixed maturity securities at September 30, 2024 are as follows: Available-for-Sale (in thousands) Amortized Estimated Fair Due in one year or less $ 40,626 $ 40,754 Due one year through five years 40,032 40,570 Due five years through ten years 16,105 16,455 Due after ten years 5,288 5,589 Total $ 102,051 $ 103,368 Expected maturities will differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without penalties. The following table presents the gross unrealized losses on fixed maturity securities and the estimated fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous loss position at September 30, 2024 and December 31, 2023: Less than 12 Months 12 Months or Longer Total As of September 30, 2024 (in thousands) Estimated Unrealized Estimated Unrealized Estimated Unrealized General obligations of U.S. states, territories and political subdivisions $ 3,147 $ (3) $ 2,807 $ (12) $ 5,954 $ (15) Special revenue issuer obligations of U.S. states, territories and political subdivisions 3,670 (1) 2,845 (22) 6,515 (23) Corporate debt securities 1,347 (1) 2,187 (2) 3,534 (3) Total $ 8,164 $ (5) $ 7,839 $ (36) $ 16,003 $ (41) Less than 12 Months 12 Months or Longer Total As of December 31, 2023 (in thousands) Estimated Unrealized Estimated Unrealized Estimated Unrealized Government obligations $ 1,488 $ (2) $ — $ — $ 1,488 $ (2) General obligations of U.S. states, territories and political subdivisions 5,925 (23) 101 (1) 6,026 (24) Special revenue issuer obligations of U.S. states, territories and political subdivisions 7,124 (16) 3,085 (50) 10,209 (66) Corporate debt securities 6,052 (29) 296 (4) 6,348 (33) Total $ 20,589 $ (70) $ 3,482 $ (55) $ 24,071 $ (125) Management evaluates available-for-sale fixed maturity securities in unrealized loss positions to determine whether the impairment is due to credit-related factors or noncredit-related factors. The decline in estimated fair value of the fixed maturity securities can be attributed primarily to changes in market interest rates and changes in credit spreads over Treasury securities. Factors considered in determining whether a loss is credit-related include the financial condition and prospects of the issuer (including credit ratings and analyst reports) and macro-economic changes. A total of 30 and 51 fixed maturity securities had unrealized losses at September 30, 2024 and December 31, 2023, respectively. The Company does not intend to sell any of these securities and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost. The fair value is expected to recover as the securities approach their maturity date or repricing date or if market yields for such investments decline. The Company believes that the unrealized losses detailed in the previous table are due to noncredit-related factors, including changes in market interest rates and other market conditions, and therefore the unrealized loss is recorded in accumulated other comprehensive income. Reviews of the values of fixed maturity securities are inherently uncertain and the value of the investment may not fully recover, or may decline in future periods, resulting in a realized loss. The Company recorded impairment charges related to fixed maturity securities totaling $0 and $74 thousand for the three- and nine-month periods ended September 30, 2024, respectively, and $96 thousand and $208 thousand for the three- and nine-month periods ended September 30, 2023, respectively. Expenses related to impairments are recorded in net investment gains (losses) in the unaudited Consolidated Statements of Operations when recognized. Investments in Equity Securities The cost and estimated fair value of equity securities are as follows: As of September 30, 2024 (in thousands) Cost Estimated Fair Equity securities, at fair value: Common stocks $ 23,540 $ 37,753 Total $ 23,540 $ 37,753 As of December 31, 2023 (in thousands) Cost Estimated Fair Equity securities, at fair value: Common stocks $ 22,981 $ 37,212 Total $ 22,981 $ 37,212 Unrealized holding gains and losses are reported in the unaudited Consolidated Financial Statements of Operations as net investment gains (losses). Net Investment Gains (Losses) Gross investment gains and losses for the three- and nine-month periods ended September 30, 2024 and 2023 are summarized as follows: Three Months Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Gross realized gains from securities: Common stocks $ 444 $ 1,749 $ 5,157 $ 15,449 Total $ 444 $ 1,749 $ 5,157 $ 15,449 Gross realized losses from securities: Common stocks $ (122) $ (77) $ (339) $ (400) Write-down of securities — (96) (74) (208) Total $ (122) $ (173) $ (413) $ (608) Net realized gains from securities $ 322 $ 1,576 $ 4,744 $ 14,841 Gross realized gains (losses) on other investments: Gains on other investments $ 242 $ 5 $ 243 $ 5 Losses on other investments (20) (4) (20) (120) Write-down of other assets (309) — (309) — Total $ (87) $ 1 $ (86) $ (115) Net realized investment gains $ 235 $ 1,577 $ 4,658 $ 14,726 Changes in the estimated fair value of equity security investments $ 741 $ (2,392) $ (18) $ (14,006) Net investment gains (losses) $ 976 $ (815) $ 4,640 $ 720 Realized gains and losses are determined on the specific identification method. Variable Interest Entities The Company holds investments in variable interest entities ("VIEs") that are not consolidated in the Company's financial statements as the Company is not the primary beneficiary. These entities are considered VIEs as the equity investors at risk, including the Company, do not have the power over the activities that most significantly impact the economic performance of the entities; this power resides with a third-party general partner or managing member that cannot be removed except for cause and no participation rights exist. The following table sets forth details about the Company's variable interest investments in VIEs, which are structured either as limited partnerships ("LPs") or limited liability companies ("LLCs"), as of September 30, 2024: (in thousands) Balance Sheet Classification Carrying Value Estimated Fair Value Maximum Potential Loss (a) Real estate LLCs or LPs Other investments $ 10,577 $ 12,761 $ 14,654 Small business investment LPs Other investments 1,168 1,242 1,403 Total $ 11,745 $ 14,003 $ 16,057 (a) Maximum potential loss is calculated as the total investment in the LLC or LP, including any capital commitments that may have not yet been called. The Company is not exposed to any loss beyond the total commitment of its investment. Valuation of Financial Assets The Financial Accounting Standards Board ("FASB") has established a valuation hierarchy for disclosure of the inputs used to measure estimated fair value of financial assets and liabilities, such as securities. This hierarchy categorizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the Company’s own assumptions intended to represent market participant assumptions used to measure assets and liabilities at fair value. A financial instrument’s classification within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement – consequently, if there are multiple significant valuation inputs that are categorized in different levels of the hierarchy, the instrument’s hierarchy level is the lowest level (with Level 3 being the lowest level) within which any significant input falls. The Level 1 category includes equity securities and U.S. Treasury securities that are measured at estimated fair value using quoted active market prices. The Level 2 category includes fixed maturity securities such as corporate debt securities, U.S. government obligations, and obligations of U.S. states, territories, and political subdivisions. Estimated fair value is principally based on market values obtained from a third-party pricing service. Factors that are used in determining estimated fair market value include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. The Company receives one quote per security from a third-party pricing service, although as discussed below, the Company does consult other pricing resources when confirming that the prices it obtains reflect the fair values of the instruments in accordance with GAAP. Generally, quotes obtained from the pricing service for instruments classified as Level 2 are not adjusted and are not binding. As of September 30, 2024 and December 31, 2023, the Company did not adjust any Level 2 fair values. A number of the Company’s investment grade corporate debt securities are frequently traded in active markets, and trading prices are consequently available for these securities. However, these securities are classified as Level 2 because the pricing service from which the Company has obtained estimated fair values for these instruments uses valuation models that use observable market inputs in addition to trading prices. Substantially all of the input assumptions used in the service’s model are observable in the marketplace or can be derived or supported by observable market data. In the measurement of the estimated fair value of certain financial instruments, other valuation techniques were utilized if quoted market prices were not available. These derived fair value estimates are significantly affected by the assumptions used. Additionally, certain financial instruments, including those related to insurance contracts, pension and other postretirement benefits, and equity method investments are excluded from the scope of disclosures. In estimating the fair value of the financial instruments presented, the Company used the following methods and assumptions: Cash and cash equivalents The carrying amount for cash and cash equivalents is a reasonable estimate of fair value due to the short-term maturity of these investments. Measurement alternative equity investments The measurement alternative method requires investments without readily determinable fair values to be recorded at cost, less impairments, and plus or minus any changes resulting from observable price changes. The Company monitors any events or changes in circumstances that may have had a significant adverse effect on the fair value of these investments and makes any necessary adjustments. Notes receivable Notes receivable are recorded at amortized cost and are included in prepaid expenses and other receivables in the unaudited Consolidated Balance Sheets. The amortized cost is the amount at which a receivable is originated and adjusted for applicable accrued interest, accretion, or amortization of premium, discount, and net deferred fees or costs, collection of cash, writeoffs, foreign exchange, and fair value hedge accounting adjustments. The Company monitors any events or changes in circumstances that may have had a significant adverse effect on the fair value of these investments and makes any necessary adjustments. Accrued interest and dividends The carrying amount for accrued interest and dividends is a reasonable estimate of fair value due to the short-term maturity of these assets. The following table presents, by level, fixed maturity securities carried at estimated fair value as of September 30, 2024 and December 31, 2023: As of September 30, 2024 (in thousands) Level 1 Level 2 * Level 3 Total Fixed maturity securities: Obligations of U.S. states, territories and political subdivisions $ 552 $ 31,258 $ — $ 31,810 Corporate debt securities — 71,558 — 71,558 Total $ 552 $ 102,816 $ — $ 103,368 As of December 31, 2023 (in thousands) Level 1 Level 2 * Level 3 Total Fixed maturity securities: Obligations of U.S. states, territories and political subdivisions $ 2,220 $ 34,446 $ — $ 36,666 Corporate debt securities — 27,181 — 27,181 Total $ 2,220 $ 61,627 $ — $ 63,847 *Denotes fair market value obtained from pricing services. The following table presents, by level, estimated fair values of equity investments and other financial instruments as of September 30, 2024 and December 31, 2023: As of September 30, 2024 (in thousands) Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 25,464 $ — $ — $ 25,464 Accrued interest and dividends 1,468 — — 1,468 Equity securities, at fair value: Common stocks 37,753 — — 37,753 Short-term investments: Money market funds and U.S. Treasury bills 87,449 — — 87,449 Total $ 152,134 $ — $ — $ 152,134 As of December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 24,031 $ — $ — $ 24,031 Accrued interest and dividends 978 — — 978 Equity securities, at fair value: Common stocks 37,212 — — 37,212 Short-term investments: Money market funds and U.S. Treasury bills 110,224 — — 110,224 Total $ 172,445 $ — $ — $ 172,445 The Company did not hold any Level 3 category debt or marketable equity investment securities as of September 30, 2024 or December 31, 2023. There were no transfers into or out of Levels 1, 2 or 3 during the periods presented. To help ensure that estimated fair value determinations are consistent with GAAP, prices from our pricing services go through multiple review processes to ensure appropriate pricing. Pricing procedures and inputs used to price each security include, but are not limited to, the following: unadjusted quoted market prices for identical securities such as stock market closing prices; non-binding quoted prices for identical securities in markets that are not active; interest rates; yield curves observable at commonly quoted intervals; volatility; prepayment speeds; loss severity; credit risks; and default rates. The Company reviews the procedures and inputs used by its pricing services, and verifies a sample of the services’ quotes by comparing them to values obtained from other pricing resources. In the event the Company disagrees with a price provided by its pricing services, the respective service reevaluates the price to corroborate the market information and then reviews inputs to the evaluation in light of potentially new market data. Certain measurement alternative equity investments and notes receivable are measured at estimated fair value on a non-recurring basis and are reviewed for impairment quarterly. If any such investment is determined to be impaired, an impairment charge is recorded against such investment and reflected in the unaudited Consolidated Statements of Operations. There were two impairments of such investments made during the nine-month period ended September 30, 2024 and no impairments during the twelve-month period ended December 31, 2023. The following table presents assets measured at fair value on a non-recurring basis as of September 30, 2024 and December 31, 2023: As of September 30, 2024 (in thousands) Level 1 Level 2 Level 3 Total Financial assets: Equity investments in unconsolidated affiliates, measurement alternative $ — $ — $ 8,202 $ 8,202 Notes receivable — — 641 641 Total $ — $ — $ 8,843 $ 8,843 As of December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Financial assets: Equity investments in unconsolidated affiliates, measurement alternative $ — $ — $ 9,300 $ 9,300 Notes receivable — — 2,201 2,201 Total $ — $ — $ 11,501 $ 11,501

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
Commitments And Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	Commitments and Contingencies Legal Proceedings – The Company and its subsidiaries are involved in legal proceedings that are incidental to their business. In the Company’s opinion, based on the present status of these proceedings, any potential liability of the Company or its subsidiaries with respect to these legal proceedings is not expected to, in the aggregate, be material to the Company’s consolidated financial condition or operations. Regulation – The Company’s title insurance and trust subsidiaries are regulated by various federal, state and local governmental agencies and are subject to various audits and inquiries. It is the opinion of management based on its present expectations that these audits and inquiries will not have a material impact on the Company’s consolidated financial condition or operations. Escrow and Trust Deposits – As a service to its customers, the Company, through ITIC, administers escrow and trust deposits representing earnest money received under real estate contracts, escrowed funds received under escrow agreements, undisbursed amounts received for settlement of mortgage loans and indemnities against specific title risks. These amounts are not considered assets of the Company and, therefore, are excluded from the accompanying unaudited Consolidated Balance Sheets; however, the Company remains contingently liable for the disposition of these deposits. Like-Kind Exchanges Proceeds – In administering tax-deferred like-kind exchanges pursuant to § 1031 of the Internal Revenue Code, the Company’s wholly owned subsidiary, Investors Title Exchange Corporation (“ITEC”), serves as a qualified intermediary, holding the net sales proceeds from relinquished property to be used for purchase of replacement property. Another wholly owned subsidiary of the Company, Investors Title Accommodation Corporation (“ITAC”), serves as exchange accommodation titleholder and, through LLCs that are wholly owned subsidiaries of ITAC, holds property in reverse exchange transactions. Like-kind exchange deposits and reverse exchange property totaled approximately $264.2 million and $263.7 million as of September 30, 2024 and December 31, 2023, respectively. These amounts are not considered assets of the Company and, therefore, are excluded from the accompanying unaudited Consolidated Balance Sheets; however, the Company remains contingently liable for the disposition of the transfers of property, disbursements of proceeds and the return on the proceeds at the agreed upon rate. Exchange services revenue includes earnings on these deposits; therefore, investment income is shown as non-title services rather than investment income. These like-kind exchange funds are primarily invested in money market funds and other short-term investments.

Related Party Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company does business with, and has investments in, unconsolidated LLCs that are primarily title insurance agencies. The Company utilizes the equity method to account for its investment in these LLCs. The following table sets forth the approximate values by year found within each financial statement classification: Financial Statement Classification, As of As of Other investments $ 4,961 $ 5,561 Premium and fees receivable $ 3,666 $ 627 Financial Statement Classification, Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net premiums written $ 7,155 $ 6,285 $ 20,000 $ 16,692 Non-title services and other investment income $ 902 $ 598 $ 1,941 $ 3,095 Commissions to agents $ 5,047 $ 4,288 $ 13,837 $ 11,134

Intangible Assets, Goodwill and

Intangible Assets, Goodwill and Title Plants	9 Months Ended
Intangible Assets, Goodwill and Title Plants	Sep. 30, 2024
Business Combinations [Abstract]
Intangible Assets, Goodwill and Title Plants	Intangible Assets, Goodwill and Title Plants Intangible Assets The estimated fair values of intangible assets recognized as the result of title insurance agency acquisitions are principally based on values obtained from an independent third-party valuation service and are all Level 3 inputs. Management determined that no events or changes in circumstances occurred during the nine-month periods ended September 30, 2024 and 2023 that would indicate the carrying amounts may not be recoverable, and therefore, determined that no identifiable intangible assets were impaired. Identifiable intangible assets consist of the following: (in thousands) As of As of Referral relationships $ 8,898 $ 8,898 Non-compete agreements 3,155 3,155 Tradename 747 747 Total 12,800 12,800 Accumulated amortization (7,076) (6,176) Identifiable intangible assets, net $ 5,724 $ 6,624 The following table provides the estimated aggregate amortization expense, as of September 30, 2024, for each of the five succeeding fiscal years: Year Ended (in thousands) 2024 $ 278 2025 1,095 2026 1,095 2027 679 2028 650 Thereafter 1,740 Total $ 5,537 Goodwill and Title Plants As of September 30, 2024, the Company recognized $9.6 million in goodwill and $1.6 million in title plants, net of impairments, as the result of title insurance agency acquisitions. The title plants are included with other assets in the unaudited Consolidated Balance Sheets. The fair values of goodwill and the title plants as of the date of acquisition, both Level 3 inputs, were principally based on values obtained from an independent third-party valuation service. In accordance with FASB's Accounting Standards Codification ("ASC") 350, the Company determined that no events or changes in circumstances occurred during the nine-month periods ended September 30, 2024 and 2023 that would indicate the carrying amounts may not be recoverable, and therefore, determined that there were no goodwill or title plant impairments.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
Accumulated Other Comprehensive Income	Sep. 30, 2024
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	The following table provides changes in the balances of each component of accumulated other comprehensive income, net of tax, for the three- and nine-month periods ended September 30, 2024 and 2023: Three Months Ended Unrealized Gains and Postretirement Total Beginning balance at June 30, 2024 $ 113 $ 55 $ 168 Other comprehensive income before calculations 920 — 920 Amounts reclassified from accumulated other comprehensive income — — — Net current-period other comprehensive income 920 — 920 Ending balance $ 1,033 $ 55 $ 1,088 Three Months Ended Unrealized Gains and Postretirement Total Beginning balance at June 30, 2023 $ 19 $ 142 $ 161 Other comprehensive loss before calculations (984) (6) (990) Amounts reclassified from accumulated other comprehensive income 74 — 74 Net current-period other comprehensive loss (910) (6) (916) Ending balance $ (891) $ 136 $ (755) Nine Months Ended Unrealized Gains and Postretirement Total Beginning balance at December 31, 2023 $ 583 $ 55 $ 638 Other comprehensive income before calculations 394 — 394 Amounts reclassified from accumulated other comprehensive income 56 — 56 Net current-period other comprehensive income 450 — 450 Ending balance $ 1,033 $ 55 $ 1,088 Nine Months Ended Unrealized Gains and Postretirement Total Beginning balance at December 31, 2022 $ 164 $ 36 $ 200 Other comprehensive (loss) income before calculations (1,215) 100 (1,115) Amounts reclassified from accumulated other comprehensive income 160 — 160 Net current-period other comprehensive (loss) income (1,055) 100 (955) Ending balance $ (891) $ 136 $ (755) The following table provides significant amounts reclassified out of each component of accumulated other comprehensive income for the three- and nine-month periods ended September 30, 2024 and 2023: Three Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Operations Unrealized gains and losses on available-for-sale securities: Net realized gain on investments $ — Write-down of securities — Total $ — Net investment gains (losses) Tax — Provision for income taxes Net of Tax $ — Reclassifications for the period $ — Three Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Operations Unrealized gains and losses on available-for-sale securities: Net realized gain on investments $ — Write-down of securities (96) Total $ (96) Net investment gains (losses) Tax 22 Provision for income taxes Net of Tax $ (74) Reclassifications for the period $ (74) Nine Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Operations Unrealized gains and losses on available-for-sale securities: Net realized gain on investments $ — Write-down of securities (74) Total $ (74) Net investment gains (losses) Tax 18 Provision for income taxes Net of Tax $ (56) Reclassifications for the period $ (56) Nine Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Operations Unrealized gains and losses on available-for-sale securities: Net realized gain on investments $ — Write-down of securities (208) Total $ (208) Net investment gains (losses) Tax 48 Provision for income taxes Net of Tax $ (160) Reclassifications for the period $ (160)

Revenue Recognition

Revenue Recognition	9 Months Ended
Revenue Recognition	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue from Contracts with Customers ASC 606, Revenue from Contracts with Customers , requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance does not apply to revenue associated with insurance contracts (including title insurance policies), financial instruments and lease contracts, and therefore is primarily applicable to the following Company revenue categories. Escrow and other title-related fees: The Company’s title segment recognizes commission revenue and fees related to items such as searches, settlements, commitments and other ancillary services. Escrow and other title-related fees are recognized as revenue at the time of the related transactions as the earnings process, or performance obligation, is then considered to be complete. Non-title services: Through various subsidiaries, the Company offers management services, tax-deferred real property exchange services, investment management and trust services. Nonrefundable exchange fees are recognized as revenue upon receipt of the funds, which is at the time of closing of the initial sale of property. All other non-title service fees are recognized as revenue as performance obligations are completed. Other: The Company occasionally recognizes revenue from other miscellaneous contracts which can include, but are not limited to, seminar and education registration fees and software licensing contracts. These revenue streams are deemed immaterial to the operations of the Company, and revenue is recognized when, or as, performance obligations are completed. The following table provides a breakdown of the Company’s revenue by major business activity: Three Months Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Revenue from contracts with customers: Escrow and other title-related fees $ 4,574 $ 4,683 $ 13,098 $ 12,942 Non-title services 4,305 4,636 12,913 14,513 Total revenue from contracts with customers 8,879 9,319 26,011 27,455 Other sources of revenue: Net premiums written 54,855 49,822 146,451 132,793 Investment-related revenue 4,707 2,012 14,460 10,172 Other 388 257 748 647 Total revenues $ 68,829 $ 61,410 $ 187,670 $ 171,067

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2024
Leases [Abstract]
Lessee Leases	Leases The Company enters into lease agreements that are primarily used for office space. These leases are accounted for as operating leases, with lease expense recognized on a straight-line basis over the term of the lease. The Company occasionally assumes equipment lease agreements through business acquisitions. These leases are accounted for as finance leases. Included in a portion of the Company's current leases are options to extend or cancel the lease term. The exercise of such options is solely at the Company's discretion. The lease liability recorded in the unaudited Consolidated Balance Sheets includes lease payments related to options to extend or cancel the lease term if the Company determined at the inception date that the lease was expected to be renewed or extended. The Company, in determining the present value of lease payments, utilized the average rate over a 10-year term based upon the Moody's seasoned Aaa corporate bond yields, as explicit rates of interest were not readily determinable in the lease contracts. The Company does not carry debt; thus no incremental borrowing rate was available to the Company. Lease expense is included in office and technology expenses in the unaudited Consolidated Statements of Operations. Information regarding the Company’s leases follows: Three Months Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Operating leases $ 650 $ 663 $ 2,015 $ 2,139 Finance leases: Amortization of lease assets 64 74 196 182 Lease expense $ 714 $ 737 $ 2,211 $ 2,321 Sub-lease income (51) — (172) — Lease cost $ 663 $ 737 $ 2,039 $ 2,321 Components of the lease liability presented on the unaudited Consolidated Balance Sheets are as follows: (in thousands) As of As of Current: Operating lease liabilities $ 2,265 $ 2,201 Finance lease liabilities 224 170 Non-current: Operating lease liabilities 3,171 3,792 Finance lease liabilities 428 286 Total lease liabilities $ 6,088 $ 6,449 The future minimum lease payments for leases that have initial or remaining noncancelable lease terms in excess of one year as of September 30, 2024, are summarized as follows: Year Ended (in thousands) Operating Finance Total 2024 $ 2,430 $ 247 $ 2,677 2025 1,613 215 1,828 2026 840 156 996 2027 297 80 377 2028 264 — 264 Thereafter 366 — 366 Total undiscounted payments $ 5,810 $ 698 $ 6,508 Less: present value adjustment (374) (46) (420) Lease liabilities $ 5,436 $ 652 $ 6,088 Supplemental lease information is as follows: As of As of Weighted average remaining lease term (years) Operating leases 3.33 3.07 Finance leases 3.03 2.93 Weighted average discount rate Operating leases 4.0 % 3.8 % Finance leases 4.4 % 3.7 % The Company does not have any material pending operating or financing lease agreements that become effective in future periods.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 9,315	$ 7,084	$ 22,711	$ 15,850

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis Of Presentation And Sig_2

Basis Of Presentation And Significant Accounting Policies (Policy)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles Of Consolidation	Principles of Consolidation – The accompanying unaudited Consolidated Financial Statements include the accounts and operations of Investors Title Company and its subsidiaries, and have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information, with the instructions to Form 10-Q and with Article 10 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in annual consolidated financial statements have been condensed or omitted. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows of the Company in the accompanying unaudited Consolidated Financial Statements have been included. All such adjustments are of a normal recurring nature. Operating results for the three- and nine-month periods ended September 30, 2024 are not necessarily indicative of the financial condition and results that may be expected for the year ending December 31, 2024 or any other interim period.
Use Of Estimates And Assumptions	Use of Estimates and Assumptions – The preparation of the Company’s unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities, at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions used.
Subsequent Events, Policy	Subsequent Events – The Company has evaluated and concluded that there were no material subsequent events requiring adjustment or disclosure to its unaudited Consolidated Financial Statements.

Reserves For Claims (Tables)

Reserves For Claims (Tables)	9 Months Ended
Reserves For Claims (Tables)	Sep. 30, 2024
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Summary Of Transactions In Reserves For Claims	Activity in the reserve for claims for the nine-month period ended September 30, 2024 and the year ended December 31, 2023 is summarized as follows: (in thousands) September 30, 2024 December 31, 2023 Balance, beginning of period $ 37,147 $ 37,192 Provision charged to operations 3,483 4,762 Payments of claims, net of recoveries (3,581) (4,807) Balance, end of period $ 37,049 $ 37,147
Summary of the Company's Loss Reserves	A summary of the Company’s reserve for claims, broken down into its components of known title claims and IBNR, follows: (in thousands, except percentages) September 30, 2024 % December 31, 2023 % Known title claims $ 2,742 7.4 $ 2,855 7.7 IBNR 34,307 92.6 34,292 92.3 Total reserve for claims $ 37,049 100.0 $ 37,147 100.0

Earnings Per Common Share And_2

Earnings Per Common Share And Share Awards (Tables)	9 Months Ended
Earnings Per Common Share And Share Awards (Tables)	Sep. 30, 2024
Earnings Per Share [Abstract]
Computation Of Basic And Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share for the three- and nine-month periods ended September 30: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2024 2023 2024 2023 Net income $ 9,315 $ 7,084 $ 22,711 $ 15,850 Weighted average common shares outstanding – Basic 1,884 1,891 1,885 1,894 Incremental shares outstanding assuming the exercise of dilutive SARs (share-settled) 9 — 4 — Weighted average common shares outstanding – Diluted 1,893 1,891 1,889 1,894 Basic earnings per common share $ 4.94 $ 3.75 $ 12.05 $ 8.37 Diluted earnings per common share $ 4.92 $ 3.75 $ 12.02 $ 8.37
Summary Of Share-Based Award Transactions	A summary of share-based award transactions for all share-based award plans follows: (in thousands, except weighted average exercise price and average remaining contractual term) Number Weighted Average Remaining Aggregate Outstanding as of January 1, 2023 39 $ 159.39 4.10 $ 243 SARs granted 5 142.88 SARs exercised (2) 93.87 Outstanding as of December 31, 2023 42 $ 160.83 3.69 $ 428 SARs granted 5 160.94 SARs exercised (4) 154.13 SARs forfeited or expired (4) 192.71 Outstanding as of September 30, 2024 39 $ 157.74 3.85 $ 2,783 Exercisable as of September 30, 2024 31 $ 159.86 3.61 $ 2,180 Unvested as of September 30, 2024 8 $ 148.86 4.83 $ 603
Share-Based Valuation Assumptions	The weighted average fair values for the SARs issued during 2024 and 2023 were $64.00 and $55.52, respectively, and were estimated using the weighted average assumptions shown in the table below: 2024 2023 Expected Life in Years 7.0 6.2 - 7.0 Volatility 35.0% 36.6% Interest Rate 4.4% 3.7% Yield Rate 1.1% 1.2%

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Sep. 30, 2024
Segment Reporting [Abstract]
Selected Financial Information About The Company's Operations By Segment	Provided below is selected financial information about the Company's operations by segment for the periods ended September 30, 2024 and 2023: Three Months Ended Title Exchange All Intersegment Eliminations Total Insurance and other services revenues $ 63,272 $ 2,634 $ 2,252 $ (4,036) $ 64,122 Net investment income 3,681 115 911 — 4,707 Total revenues $ 66,953 $ 2,749 $ 3,163 $ (4,036) $ 68,829 Operating expenses 58,211 668 2,244 (3,882) 57,241 Income before income taxes $ 8,742 $ 2,081 $ 919 $ (154) $ 11,588 Total assets $ 231,805 $ 10,446 $ 109,735 $ — $ 351,986 Three Months Ended Title Exchange All Intersegment Eliminations Total Insurance and other services revenues $ 59,182 $ 3,141 $ 1,916 $ (4,841) $ 59,398 Net investment income 1,037 47 928 — 2,012 Total revenues $ 60,219 $ 3,188 $ 2,844 $ (4,841) $ 61,410 Operating expenses 54,809 603 2,057 (4,669) 52,800 Income before income taxes $ 5,410 $ 2,585 $ 787 $ (172) $ 8,610 Total assets $ 226,105 $ 5,399 $ 100,411 $ — $ 331,915 Nine Months Ended Title Exchange All Intersegment Eliminations Total Insurance and other services revenues $ 171,767 $ 8,120 $ 6,156 $ (12,833) $ 173,210 Net investment income 10,675 280 3,505 — 14,460 Total revenues $ 182,442 $ 8,400 $ 9,661 $ (12,833) $ 187,670 Operating expenses 162,566 2,030 6,775 (12,353) 159,018 Income before income taxes $ 19,876 $ 6,370 $ 2,886 $ (480) $ 28,652 Total assets $ 231,805 $ 10,446 $ 109,735 $ — $ 351,986 Nine Months Ended Title Exchange All Intersegment Eliminations Total Insurance and other services revenues $ 159,382 $ 10,066 $ 5,815 $ (14,368) $ 160,895 Net investment income 7,616 133 2,423 — 10,172 Total revenues $ 166,998 $ 10,199 $ 8,238 $ (14,368) $ 171,067 Operating expenses 156,694 1,811 6,397 (13,852) 151,050 Income before income taxes $ 10,304 $ 8,388 $ 1,841 $ (516) $ 20,017 Total assets $ 226,105 $ 5,399 $ 100,411 $ — $ 331,915

Retirement Agreements And Oth_2

Retirement Agreements And Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Components Of Net Periodic Benefits Cost	The following sets forth the net periodic benefit cost for the executive benefits for the periods ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Service cost – benefits earned during the year $ — $ — $ — $ — Interest cost on the projected benefit obligation 11 10 34 30 Amortization of unrecognized gain — (7) — (21) Net periodic benefit cost $ 11 $ 3 $ 34 $ 9

Investments In Securities and_2

Investments In Securities and Fair Value (Tables)	9 Months Ended
Investments In Securities and Fair Value (Tables)	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Gross Unrealized Gains (Losses) and Amortized Cost for Securities	The estimated fair value, gross unrealized holding gains, gross unrealized holding losses and amortized cost for fixed maturity securities by major classification are as follows: As of September 30, 2024 (in thousands) Amortized Gross Gross Estimated Fair Fixed maturity securities, available-for-sale, at fair value: Government obligations $ 549 $ 3 $ — $ 552 General obligations of U.S. states, territories and political subdivisions 9,330 48 (15) 9,363 Special revenue issuer obligations of U.S. states, territories and political subdivisions 21,821 97 (23) 21,895 Corporate debt securities 70,351 1,210 (3) 71,558 Total $ 102,051 $ 1,358 $ (41) $ 103,368 As of December 31, 2023 (in thousands) Amortized Gross Gross Estimated Fair Fixed maturity securities, available-for-sale, at fair value: Government obligations $ 2,220 $ 2 $ (2) $ 2,220 General obligations of U.S. states, territories and political subdivisions 9,419 64 (24) 9,459 Special revenue issuer obligations of U.S. states, territories and political subdivisions 24,908 145 (66) 24,987 Corporate debt securities 26,559 655 (33) 27,181 Total $ 63,106 $ 866 $ (125) $ 63,847 The cost and estimated fair value of equity securities are as follows: As of September 30, 2024 (in thousands) Cost Estimated Fair Equity securities, at fair value: Common stocks $ 23,540 $ 37,753 Total $ 23,540 $ 37,753 As of December 31, 2023 (in thousands) Cost Estimated Fair Equity securities, at fair value: Common stocks $ 22,981 $ 37,212 Total $ 22,981 $ 37,212
Schedule Of Fixed Maturity Securities	The scheduled maturities of fixed maturity securities at September 30, 2024 are as follows: Available-for-Sale (in thousands) Amortized Estimated Fair Due in one year or less $ 40,626 $ 40,754 Due one year through five years 40,032 40,570 Due five years through ten years 16,105 16,455 Due after ten years 5,288 5,589 Total $ 102,051 $ 103,368
Schedule of Unrealized Loss on Investments	The following table presents the gross unrealized losses on fixed maturity securities and the estimated fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous loss position at September 30, 2024 and December 31, 2023: Less than 12 Months 12 Months or Longer Total As of September 30, 2024 (in thousands) Estimated Unrealized Estimated Unrealized Estimated Unrealized General obligations of U.S. states, territories and political subdivisions $ 3,147 $ (3) $ 2,807 $ (12) $ 5,954 $ (15) Special revenue issuer obligations of U.S. states, territories and political subdivisions 3,670 (1) 2,845 (22) 6,515 (23) Corporate debt securities 1,347 (1) 2,187 (2) 3,534 (3) Total $ 8,164 $ (5) $ 7,839 $ (36) $ 16,003 $ (41) Less than 12 Months 12 Months or Longer Total As of December 31, 2023 (in thousands) Estimated Unrealized Estimated Unrealized Estimated Unrealized Government obligations $ 1,488 $ (2) $ — $ — $ 1,488 $ (2) General obligations of U.S. states, territories and political subdivisions 5,925 (23) 101 (1) 6,026 (24) Special revenue issuer obligations of U.S. states, territories and political subdivisions 7,124 (16) 3,085 (50) 10,209 (66) Corporate debt securities 6,052 (29) 296 (4) 6,348 (33) Total $ 20,589 $ (70) $ 3,482 $ (55) $ 24,071 $ (125)
Gain (Loss) on Securities	Gross investment gains and losses for the three- and nine-month periods ended September 30, 2024 and 2023 are summarized as follows: Three Months Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Gross realized gains from securities: Common stocks $ 444 $ 1,749 $ 5,157 $ 15,449 Total $ 444 $ 1,749 $ 5,157 $ 15,449 Gross realized losses from securities: Common stocks $ (122) $ (77) $ (339) $ (400) Write-down of securities — (96) (74) (208) Total $ (122) $ (173) $ (413) $ (608) Net realized gains from securities $ 322 $ 1,576 $ 4,744 $ 14,841 Gross realized gains (losses) on other investments: Gains on other investments $ 242 $ 5 $ 243 $ 5 Losses on other investments (20) (4) (20) (120) Write-down of other assets (309) — (309) — Total $ (87) $ 1 $ (86) $ (115) Net realized investment gains $ 235 $ 1,577 $ 4,658 $ 14,726 Changes in the estimated fair value of equity security investments $ 741 $ (2,392) $ (18) $ (14,006) Net investment gains (losses) $ 976 $ (815) $ 4,640 $ 720
Schedule of Variable Interest Entities	The following table sets forth details about the Company's variable interest investments in VIEs, which are structured either as limited partnerships ("LPs") or limited liability companies ("LLCs"), as of September 30, 2024: (in thousands) Balance Sheet Classification Carrying Value Estimated Fair Value Maximum Potential Loss (a) Real estate LLCs or LPs Other investments $ 10,577 $ 12,761 $ 14,654 Small business investment LPs Other investments 1,168 1,242 1,403 Total $ 11,745 $ 14,003 $ 16,057 (a) Maximum potential loss is calculated as the total investment in the LLC or LP, including any capital commitments that may have not yet been called. The Company is not exposed to any loss beyond the total commitment of its investment.
Schedule Of Fair Value Assets Measured On Recurring Basis	The following table presents, by level, fixed maturity securities carried at estimated fair value as of September 30, 2024 and December 31, 2023: As of September 30, 2024 (in thousands) Level 1 Level 2 * Level 3 Total Fixed maturity securities: Obligations of U.S. states, territories and political subdivisions $ 552 $ 31,258 $ — $ 31,810 Corporate debt securities — 71,558 — 71,558 Total $ 552 $ 102,816 $ — $ 103,368 As of December 31, 2023 (in thousands) Level 1 Level 2 * Level 3 Total Fixed maturity securities: Obligations of U.S. states, territories and political subdivisions $ 2,220 $ 34,446 $ — $ 36,666 Corporate debt securities — 27,181 — 27,181 Total $ 2,220 $ 61,627 $ — $ 63,847 *Denotes fair market value obtained from pricing services.
Schedule Of Carrying Value And Fair Value Of Financial Assets Disclosed	The following table presents, by level, estimated fair values of equity investments and other financial instruments as of September 30, 2024 and December 31, 2023: As of September 30, 2024 (in thousands) Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 25,464 $ — $ — $ 25,464 Accrued interest and dividends 1,468 — — 1,468 Equity securities, at fair value: Common stocks 37,753 — — 37,753 Short-term investments: Money market funds and U.S. Treasury bills 87,449 — — 87,449 Total $ 152,134 $ — $ — $ 152,134 As of December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 24,031 $ — $ — $ 24,031 Accrued interest and dividends 978 — — 978 Equity securities, at fair value: Common stocks 37,212 — — 37,212 Short-term investments: Money market funds and U.S. Treasury bills 110,224 — — 110,224 Total $ 172,445 $ — $ — $ 172,445
Fair Value Measurements, Nonrecurring	The following table presents assets measured at fair value on a non-recurring basis as of September 30, 2024 and December 31, 2023: As of September 30, 2024 (in thousands) Level 1 Level 2 Level 3 Total Financial assets: Equity investments in unconsolidated affiliates, measurement alternative $ — $ — $ 8,202 $ 8,202 Notes receivable — — 641 641 Total $ — $ — $ 8,843 $ 8,843 As of December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Financial assets: Equity investments in unconsolidated affiliates, measurement alternative $ — $ — $ 9,300 $ 9,300 Notes receivable — — 2,201 2,201 Total $ — $ — $ 11,501 $ 11,501

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
Related Party Transactions (Tables)	Sep. 30, 2024
Related Party Transactions [Abstract]
Summary Of Approximate Values By Year Found Within Consolidated Balance Sheets	The following table sets forth the approximate values by year found within each financial statement classification: Financial Statement Classification, As of As of Other investments $ 4,961 $ 5,561 Premium and fees receivable $ 3,666 $ 627
Summary Of Approximate Values By Year Found Within Consolidated Statements Of Income	Financial Statement Classification, Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net premiums written $ 7,155 $ 6,285 $ 20,000 $ 16,692 Non-title services and other investment income $ 902 $ 598 $ 1,941 $ 3,095 Commissions to agents $ 5,047 $ 4,288 $ 13,837 $ 11,134

Intangible Assets, Goodwill a_2

Intangible Assets, Goodwill and Title Plant (Tables)	9 Months Ended
Intangible Assets, Goodwill and Title Plant (Tables)	Sep. 30, 2024
Business Combinations [Abstract]
Schedule of Finite-Lived Intangible Assets	Identifiable intangible assets consist of the following: (in thousands) As of As of Referral relationships $ 8,898 $ 8,898 Non-compete agreements 3,155 3,155 Tradename 747 747 Total 12,800 12,800 Accumulated amortization (7,076) (6,176) Identifiable intangible assets, net $ 5,724 $ 6,624
Schedule Of Aggregate Amortization Expense for Intangible Assets	The following table provides the estimated aggregate amortization expense, as of September 30, 2024, for each of the five succeeding fiscal years: Year Ended (in thousands) 2024 $ 278 2025 1,095 2026 1,095 2027 679 2028 650 Thereafter 1,740 Total $ 5,537

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
Accumulated Other Comprehensive Income (Tables)	Sep. 30, 2024
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule Of Changes In Balances Of Each Component Of Accumulated Other Comprehensive Income, Net Of Tax	The following table provides changes in the balances of each component of accumulated other comprehensive income, net of tax, for the three- and nine-month periods ended September 30, 2024 and 2023: Three Months Ended Unrealized Gains and Postretirement Total Beginning balance at June 30, 2024 $ 113 $ 55 $ 168 Other comprehensive income before calculations 920 — 920 Amounts reclassified from accumulated other comprehensive income — — — Net current-period other comprehensive income 920 — 920 Ending balance $ 1,033 $ 55 $ 1,088 Three Months Ended Unrealized Gains and Postretirement Total Beginning balance at June 30, 2023 $ 19 $ 142 $ 161 Other comprehensive loss before calculations (984) (6) (990) Amounts reclassified from accumulated other comprehensive income 74 — 74 Net current-period other comprehensive loss (910) (6) (916) Ending balance $ (891) $ 136 $ (755) Nine Months Ended Unrealized Gains and Postretirement Total Beginning balance at December 31, 2023 $ 583 $ 55 $ 638 Other comprehensive income before calculations 394 — 394 Amounts reclassified from accumulated other comprehensive income 56 — 56 Net current-period other comprehensive income 450 — 450 Ending balance $ 1,033 $ 55 $ 1,088 Nine Months Ended Unrealized Gains and Postretirement Total Beginning balance at December 31, 2022 $ 164 $ 36 $ 200 Other comprehensive (loss) income before calculations (1,215) 100 (1,115) Amounts reclassified from accumulated other comprehensive income 160 — 160 Net current-period other comprehensive (loss) income (1,055) 100 (955) Ending balance $ (891) $ 136 $ (755)
Schedule Of Reclassification Out Of Accumulated Other Comprehensive Income	The following table provides significant amounts reclassified out of each component of accumulated other comprehensive income for the three- and nine-month periods ended September 30, 2024 and 2023: Three Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Operations Unrealized gains and losses on available-for-sale securities: Net realized gain on investments $ — Write-down of securities — Total $ — Net investment gains (losses) Tax — Provision for income taxes Net of Tax $ — Reclassifications for the period $ — Three Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Operations Unrealized gains and losses on available-for-sale securities: Net realized gain on investments $ — Write-down of securities (96) Total $ (96) Net investment gains (losses) Tax 22 Provision for income taxes Net of Tax $ (74) Reclassifications for the period $ (74) Nine Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Operations Unrealized gains and losses on available-for-sale securities: Net realized gain on investments $ — Write-down of securities (74) Total $ (74) Net investment gains (losses) Tax 18 Provision for income taxes Net of Tax $ (56) Reclassifications for the period $ (56) Nine Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Operations Unrealized gains and losses on available-for-sale securities: Net realized gain on investments $ — Write-down of securities (208) Total $ (208) Net investment gains (losses) Tax 48 Provision for income taxes Net of Tax $ (160) Reclassifications for the period $ (160)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
Revenue Recognition (Tables)	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Three Months Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Revenue from contracts with customers: Escrow and other title-related fees $ 4,574 $ 4,683 $ 13,098 $ 12,942 Non-title services 4,305 4,636 12,913 14,513 Total revenue from contracts with customers 8,879 9,319 26,011 27,455 Other sources of revenue: Net premiums written 54,855 49,822 146,451 132,793 Investment-related revenue 4,707 2,012 14,460 10,172 Other 388 257 748 647 Total revenues $ 68,829 $ 61,410 $ 187,670 $ 171,067

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2024
Leases [Abstract]
Lease, Cost	Lease expense is included in office and technology expenses in the unaudited Consolidated Statements of Operations. Information regarding the Company’s leases follows: Three Months Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Operating leases $ 650 $ 663 $ 2,015 $ 2,139 Finance leases: Amortization of lease assets 64 74 196 182 Lease expense $ 714 $ 737 $ 2,211 $ 2,321 Sub-lease income (51) — (172) — Lease cost $ 663 $ 737 $ 2,039 $ 2,321
Lessee, Lease Liability, Current and Non-current	Components of the lease liability presented on the unaudited Consolidated Balance Sheets are as follows: (in thousands) As of As of Current: Operating lease liabilities $ 2,265 $ 2,201 Finance lease liabilities 224 170 Non-current: Operating lease liabilities 3,171 3,792 Finance lease liabilities 428 286 Total lease liabilities $ 6,088 $ 6,449
Lessee, Lease Liability, Maturity	The future minimum lease payments for leases that have initial or remaining noncancelable lease terms in excess of one year as of September 30, 2024, are summarized as follows: Year Ended (in thousands) Operating Finance Total 2024 $ 2,430 $ 247 $ 2,677 2025 1,613 215 1,828 2026 840 156 996 2027 297 80 377 2028 264 — 264 Thereafter 366 — 366 Total undiscounted payments $ 5,810 $ 698 $ 6,508 Less: present value adjustment (374) (46) (420) Lease liabilities $ 5,436 $ 652 $ 6,088
Lease Other Information	Supplemental lease information is as follows: As of As of Weighted average remaining lease term (years) Operating leases 3.33 3.07 Finance leases 3.03 2.93 Weighted average discount rate Operating leases 4.0 % 3.8 % Finance leases 4.4 % 3.7 %

Reserves For Claims Summary Of

Reserves For Claims Summary Of Transactions In Reserves For Claims (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Reserve for claims	$ 37,049	$ 37,147	$ 37,192
Provision charged to operations	3,483	4,762
Payments of claims, net of recoveries	$ (3,581)	$ (4,807)

Reserves For Claims Summary O_2

Reserves For Claims Summary Of The Company's Loss Reserves (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Known title claims	$ 2,742	$ 2,855
IBNR	34,307	34,292
Total reserve for claims	$ 37,049	$ 37,147	$ 37,192
% of known title reserves	7.40%	7.70%
% of IBNR	92.60%	92.30%
% of total loss reserves	100%	100%

Earnings Per Common Share And_3

Earnings Per Common Share And Share Awards (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Earnings Per Common Share And Share Awards [Line Items]
Anti-dilutive shares excluded from computation of diluted earnings per share	0			24			4	24
Number of SARs granted where exercise price was less than market price on date of grant							0	0
SARs
Earnings Per Common Share And Share Awards [Line Items]
Share-based compensation arrangement by share-based payment award, grants in period, net of forfeitures		5	0		4	1	5		5
Share-based payment arrangement, expense	$ 296			$ 337			$ 128	$ 117
Share-based payment arrangement, nonvested award, cost not yet recognized, amount	$ 399						$ 399
Share-based compensation arrangement by share-based payment award, grants in period, weighted average grant date fair value							$ 64	$ 55.52
Maximum \| SARs
Earnings Per Common Share And Share Awards [Line Items]
Share-based compensation arrangement by share-based payment award, shares purchased for award							250
SARs expiration period							7 years
SARs vesting period							5 years

Computation Of Basic And Dilute

Computation Of Basic And Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income	$ 9,315	$ 7,084	$ 22,711	$ 15,850
Weighted average common shares outstanding - Basic	1,884	1,891	1,885	1,894
Incremental shares outstanding assuming the exercise of dilutive stock options and SARs (share settled)	9	0	4	0
Weighted average common shares outstanding - Diluted	1,893	1,891	1,889	1,894
Basic Earnings per Common Share	$ 4.94	$ 3.75	$ 12.05	$ 8.37
Diluted Earnings per Common Share	$ 4.92	$ 3.75	$ 12.02	$ 8.37

Earnings Per Common Share And_4

Earnings Per Common Share And Share Awards Summary Of Share-Based Award Transactions (Details) - SARs - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				9 Months Ended	12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, SARS, Outstanding [Roll Forward]
Number of shares, outstanding beginning balance		42		39	42	39
Number of shares, SARs granted	5	0	4	1	5	5
Number of shares, SARS exercised					(4)	(2)
Number of shares, SARS forfeited or expired					(4)
Number of shares, outstanding ending balance					39	42	39
Number of shares, exercisable as of September 30, 2024					31
Number of shares, unvested as of September 30, 2024					8
Share-based Compensation Arrangement by Share-based Payment Award, SARs, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted average exercise price, outstanding beginning balance		$ 160.83		$ 159.39	$ 160.83	$ 159.39
Weighted average exercise price, SARs granted					160.94	142.88
Weighted average exercise price, SARS exercised					154.13	93.87
Weighted average exercise price, forfeited or expired					192.71
Weighted average exercise price, outstanding ending balance					157.74	$ 160.83	$ 159.39
Weighted average exercise price, exercisable as of September 30, 2024					159.86
Weighted average exercise price, unvested as of September 30,2024					$ 148.86
Average remaining contractual term, outstanding beginning balance					3 years 10 months 6 days	3 years 8 months 8 days	4 years 1 month 6 days
Average remaining contractual term, outstanding ending balance					3 years 10 months 6 days	3 years 8 months 8 days	4 years 1 month 6 days
Average remaining contractual term, exercisable as of September 30, 2024					3 years 7 months 9 days
Average remaining contractual term, unvested as of September 30, 2024					4 years 9 months 29 days
Aggregate intrinsic value, outstanding beginning balance		$ 428		$ 243	$ 428	$ 243
Aggregate intrinsic value, outstanding ending balance					2,783	$ 428	$ 243
Aggregate intrinsic value, exercisable as of September 30, 2024					2,180
Aggregate intrinsic value, unvested as of September 30, 2024					$ 603

Earnings Per Common Share And_5

Earnings Per Common Share And Share Awards Share-Based Valuation Assumptions (Details) - SARs	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life in years	7 years
Volatility	35%	36.60%
Interest rate	4.40%	3.70%
Yield rate	1.10%	1.20%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life in years		6 years 2 months 12 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life in years		7 years

Segment Information Selected Fi

Segment Information Selected Financial Information By Segment (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment			2
Insurance and other services revenue	$ 64,122	$ 59,398	$ 173,210	$ 160,895
Investment income (loss)	4,707	2,012	14,460	10,172
Total Revenues	68,829	61,410	187,670	171,067
Operating expenses	57,241	52,800	159,018	151,050
Income (loss) before income taxes	11,588	8,610	28,652	20,017
Total assets	351,986	331,915	351,986	331,915	$ 330,559
Intersegment Eliminations
Segment Reporting Information [Line Items]
Insurance and other services revenue	(4,036)	(4,841)	(12,833)	(14,368)
Investment income (loss)	0	0	0	0
Total Revenues	(4,036)	(4,841)	(12,833)	(14,368)
Operating expenses	(3,882)	(4,669)	(12,353)	(13,852)
Income (loss) before income taxes	(154)	(172)	(480)	(516)
Total assets	0	0	0	0
Title Insurance \| Title Insurance
Segment Reporting Information [Line Items]
Insurance and other services revenue	63,272	59,182	171,767	159,382
Investment income (loss)	3,681	1,037	10,675	7,616
Total Revenues	66,953	60,219	182,442	166,998
Operating expenses	58,211	54,809	162,566	156,694
Income (loss) before income taxes	8,742	5,410	19,876	10,304
Total assets	231,805	226,105	231,805	226,105
Exchange Services \| Title Insurance
Segment Reporting Information [Line Items]
Insurance and other services revenue	2,634	3,141	8,120	10,066
Investment income (loss)	115	47	280	133
Total Revenues	2,749	3,188	8,400	10,199
Operating expenses	668	603	2,030	1,811
Income (loss) before income taxes	2,081	2,585	6,370	8,388
Total assets	10,446	5,399	10,446	5,399
All Other \| Title Insurance
Segment Reporting Information [Line Items]
Insurance and other services revenue	2,252	1,916	6,156	5,815
Investment income (loss)	911	928	3,505	2,423
Total Revenues	3,163	2,844	9,661	8,238
Operating expenses	2,244	2,057	6,775	6,397
Income (loss) before income taxes	919	787	2,886	1,841
Total assets	$ 109,735	$ 100,411	$ 109,735	$ 100,411

Retirement Agreements And Oth_3

Retirement Agreements And Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Retirement Benefits [Abstract]
Liability for employee benefits and other payments	$ 15,300		$ 15,300		$ 15,200
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	0	$ 0	0	$ 0
Interest cost on the projected benefit obligation	11	10	34	30
Amortization of unrecognized (gain) loss	0	(7)	0	(21)
Net periodic benefits costs	$ 11	$ 3	$ 34	$ 9

Investments In Securities and_3

Investments In Securities and Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Other-than-temporary impairment loss, debt securities, available-for-sale, recognized in earnings	$ 0	$ 96	$ 74	$ 208
Impaired amount for measurement alternative investments			$ 2		$ 0

Investments In Securities and_4

Investments In Securities and Fair Value (Schedule Of Gross Unrealized Gains And Losses And Amortized Cost For Securities) (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Total, amortized cost	$ 102,051	$ 63,106
Fixed maturity securities, available-for-sale, at fair value (amortized cost: September 30, 2024: $102,051; December 31, 2023: $63,106)	103,368	63,847
Government obligations
Debt and Equity Securities, FV-NI [Line Items]
Total, amortized cost	549	2,220
Debt securities, available-for-sale, accumulated gross unrealized gain, before tax	3	2
Debt securities, available-for-sale, accumulated gross unrealized loss, before tax	0	(2)
Fixed maturity securities, available-for-sale, at fair value (amortized cost: September 30, 2024: $102,051; December 31, 2023: $63,106)	552	2,220
General obligations of U.S. states, territories and political subdivisions
Debt and Equity Securities, FV-NI [Line Items]
Total, amortized cost	9,330	9,419
Debt securities, available-for-sale, accumulated gross unrealized gain, before tax	48	64
Debt securities, available-for-sale, accumulated gross unrealized loss, before tax	(15)	(24)
Fixed maturity securities, available-for-sale, at fair value (amortized cost: September 30, 2024: $102,051; December 31, 2023: $63,106)	9,363	9,459
Special revenue issuer obligations of U.S. states, territories and political subdivisions
Debt and Equity Securities, FV-NI [Line Items]
Total, amortized cost	21,821	24,908
Debt securities, available-for-sale, accumulated gross unrealized gain, before tax	97	145
Debt securities, available-for-sale, accumulated gross unrealized loss, before tax	(23)	(66)
Fixed maturity securities, available-for-sale, at fair value (amortized cost: September 30, 2024: $102,051; December 31, 2023: $63,106)	$ 21,895	$ 24,987
Number of Special Revenue Bonds	30	30
Corporate debt securities
Debt and Equity Securities, FV-NI [Line Items]
Total, amortized cost	$ 70,351	$ 26,559
Debt securities, available-for-sale, accumulated gross unrealized gain, before tax	1,210	655
Debt securities, available-for-sale, accumulated gross unrealized loss, before tax	(3)	(33)
Fixed maturity securities, available-for-sale, at fair value (amortized cost: September 30, 2024: $102,051; December 31, 2023: $63,106)	71,558	27,181
Total fixed maturities
Debt and Equity Securities, FV-NI [Line Items]
Total, amortized cost	102,051	63,106
Debt securities, available-for-sale, accumulated gross unrealized gain, before tax	1,358	866
Debt securities, available-for-sale, accumulated gross unrealized loss, before tax	(41)	(125)
Fixed maturity securities, available-for-sale, at fair value (amortized cost: September 30, 2024: $102,051; December 31, 2023: $63,106)	$ 103,368	$ 63,847

Investments In Securities and_5

Investments In Securities and Fair Value (Schedule Of Fixed Maturity Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Due in one year or less, amortized cost	$ 40,626
Due after one year through five years, amortized cost	40,032
Due five years through ten years, amortized cost	16,105
Due after ten years, amortized cost	5,288
Total, amortized cost	102,051	$ 63,106
Due in one year or less, fair value	40,754
Due after one year through five years, fair value	40,570
Due five years through ten years, fair value	16,455
Due after ten years, fair value	5,589
Total, fair value	$ 103,368	$ 63,847

Investments In Securities and_6

Investments In Securities and Fair Value (Schedule Of Unrealized Losses On Investments) (Details) $ in Thousands	Sep. 30, 2024 USD ($) segment	Dec. 31, 2023 USD ($) segment
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, unrealized loss position, number of positions \| segment	30	51
Government obligations
Debt Securities, Available-for-sale [Line Items]
Total temporarily impaired securities, less than 12 months, fair value		$ 1,488
Total temporarily impaired securities, less than 12 Months, unrealized losses		(2)
Total temporarily impaired securities, 12 months or longer, fair value		0
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss		0
Debt securities, available-for-sale, unrealized loss position, total		1,488
Debt securities, available-for-sale, unrealized loss position, accumulated loss		(2)
General obligations of U.S. states, territories and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Total temporarily impaired securities, less than 12 months, fair value	$ 3,147	5,925
Total temporarily impaired securities, less than 12 Months, unrealized losses	(3)	(23)
Total temporarily impaired securities, 12 months or longer, fair value	2,807	101
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(12)	(1)
Debt securities, available-for-sale, unrealized loss position, total	5,954	6,026
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(15)	(24)
Special revenue issuer obligations of U.S. states, territories and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Total temporarily impaired securities, less than 12 months, fair value	3,670	7,124
Total temporarily impaired securities, less than 12 Months, unrealized losses	(1)	(16)
Total temporarily impaired securities, 12 months or longer, fair value	2,845	3,085
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(22)	(50)
Debt securities, available-for-sale, unrealized loss position, total	6,515	10,209
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(23)	(66)
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Total temporarily impaired securities, less than 12 months, fair value	1,347	6,052
Total temporarily impaired securities, less than 12 Months, unrealized losses	(1)	(29)
Total temporarily impaired securities, 12 months or longer, fair value	2,187	296
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(2)	(4)
Debt securities, available-for-sale, unrealized loss position, total	3,534	6,348
Debt securities, available-for-sale, unrealized loss position, accumulated loss	(3)	(33)
Total temporarily impaired securities
Debt Securities, Available-for-sale [Line Items]
Total temporarily impaired securities, less than 12 months, fair value	8,164	20,589
Total temporarily impaired securities, less than 12 Months, unrealized losses	(5)	(70)
Total temporarily impaired securities, 12 months or longer, fair value	7,839	3,482
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	(36)	(55)
Debt securities, available-for-sale, unrealized loss position, total	16,003	24,071
Debt securities, available-for-sale, unrealized loss position, accumulated loss	$ (41)	$ (125)

Investments In Securities and_7

Investments In Securities and Fair Value (Schedule of Equity Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, cost	$ 23,540	$ 22,981
Equity securities, estimated fair value	37,753	37,212
Common stocks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, cost	23,540	22,981
Equity securities, estimated fair value	$ 37,753	$ 37,212

Investments In Securities and_8

Investments In Securities and Fair Value (Schedule Of Gross Realized and Unrealized Gains And Losses On Securities) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Marketable Security, Gain (Loss) [Abstract]
Equity securities, realized gains	$ 444	$ 1,749	$ 5,157	$ 15,449
Debit and equity securities, realized gains	444	1,749	5,157	15,449
Equity securities, realized losses	(122)	(77)	(339)	(400)
Write-down of securities	0	(96)	(74)	(208)
Debt and Equity Securities, Realized Loss	(122)	(173)	(413)	(608)
Debt and equity securities, net realized gain (loss)	322	1,576	4,744	14,841
Gross gains on other investments	242	5	243	5
Gross losses on other investments	(20)	(4)	(20)	(120)
Write-down of other assets	(309)	0	(309)	0
Net gains (losses) on other investments	(87)	1	(86)	(115)
Net realized investment gains (losses)	235	1,577	4,658	14,726
Unrealized gain (loss) on investments	741	(2,392)	(18)	(14,006)
Gain (loss) on investments	$ 976	$ (815)	$ 4,640	$ 720

Investments In Securities and_9

Investments In Securities and Fair Value (Schedule of Variable Interest Entities) (Details) - Other investments $ in Thousands	Sep. 30, 2024 USD ($)
Variable Interest Entity, Not Primary Beneficiary [Line Items]
Carrying Value	$ 11,745
Estimated Fair Value	14,003
Maximum Potential Loss (a)	16,057
Real estate LLCs or LPs
Variable Interest Entity, Not Primary Beneficiary [Line Items]
Carrying Value	10,577
Estimated Fair Value	12,761
Maximum Potential Loss (a)	14,654
Small business investment LPs
Variable Interest Entity, Not Primary Beneficiary [Line Items]
Carrying Value	1,168
Estimated Fair Value	1,242
Maximum Potential Loss (a)	$ 1,403

Investments In Securities an_10

Investments In Securities and Fair Value (Schedule Of Fair Value Assets Measured On Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 103,368	$ 63,847
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	552	2,220
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	102,816	61,627
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
General obligations of U.S. states, territories and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	31,810	36,666
General obligations of U.S. states, territories and political subdivisions \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	552	2,220
General obligations of U.S. states, territories and political subdivisions \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	31,258	34,446
General obligations of U.S. states, territories and political subdivisions \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	71,558	27,181
Corporate debt securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Corporate debt securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	71,558	27,181
Corporate debt securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 0	$ 0

Investments in Securities an_11

Investments in Securities and Fair Value (Schedule of Carrying Value and Fair Value of Financial Assets Disclosed) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 25,464	$ 24,031
Accrued interest and dividends	1,468	978
Equity securities, estimated fair value	37,753	37,212
Money market funds and U.S. Treasury bills	87,449	110,224
Assets, fair value disclosure	152,134	172,445
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	25,464	24,031
Accrued interest and dividends	1,468	978
Equity securities, estimated fair value	37,753	37,212
Money market funds and U.S. Treasury bills	87,449	110,224
Assets, fair value disclosure	152,134	172,445
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Accrued interest and dividends	0	0
Equity securities, estimated fair value	0	0
Money market funds and U.S. Treasury bills	0	0
Assets, fair value disclosure	0	0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Accrued interest and dividends	0	0
Equity securities, estimated fair value	0	0
Money market funds and U.S. Treasury bills	0	0
Assets, fair value disclosure	$ 0	$ 0

Investments In Securities an_12

Investments In Securities and Fair Value (Schedule of Cost-method Investments) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
FairValueAssetsMeasuredOnNonrecurringBasisReconciliationCalculationRollForward [Line Items]
Equity investments in unconsolidated affiliates, measurement alternative	$ 8,202	$ 9,300
Notes receivable, fair value disclosure	641	2,201
Other assets, fair value disclosure	8,843	11,501
Level 1
FairValueAssetsMeasuredOnNonrecurringBasisReconciliationCalculationRollForward [Line Items]
Equity investments in unconsolidated affiliates, measurement alternative	0	0
Notes receivable, fair value disclosure	0	0
Other assets, fair value disclosure	0	0
Level 2
FairValueAssetsMeasuredOnNonrecurringBasisReconciliationCalculationRollForward [Line Items]
Equity investments in unconsolidated affiliates, measurement alternative	0	0
Notes receivable, fair value disclosure	0	0
Other assets, fair value disclosure	0	0
Level 3
FairValueAssetsMeasuredOnNonrecurringBasisReconciliationCalculationRollForward [Line Items]
Equity investments in unconsolidated affiliates, measurement alternative	8,202	9,300
Notes receivable, fair value disclosure	641	2,201
Other assets, fair value disclosure	$ 8,843	$ 11,501

Commitments And Contingencies (

Commitments And Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Like-kind exchange deposits and reverse exchange property	$ 264.2	$ 263.7

Related Party Transactions Summ

Related Party Transactions Summary Of Approximate Values By Year Found Within Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Other investments	$ 20,640	$ 17,385
Premiums and fees receivable	14,228	13,338
Title Insurance Agencies
Related Party Transaction [Line Items]
Other investments	4,961	5,561
Premiums and fees receivable	$ 3,666	$ 627

Related Party Transactions Su_2

Related Party Transactions Summary Of Approximate Values By Year Found Within Consolidated Statements Of Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Related Party Transaction [Line Items]
Net premiums written	$ 54,855	$ 49,822	$ 146,451	$ 132,793
Other	388	257	748	647
Commissions to agents	29,089	23,806	75,509	63,735
Title Insurance Agencies
Related Party Transaction [Line Items]
Net premiums written	7,155	6,285	20,000	16,692
Other	902	598	1,941	3,095
Commissions to agents	$ 5,047	$ 4,288	$ 13,837	$ 11,134

Intangible Assets, Goodwill a_3

Intangible Assets, Goodwill and Title Plant (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Business Combinations [Abstract]
Impairment of Intangible Assets (Excluding Goodwill)	$ 0	$ 0
Goodwill	9,600
Title Plants	1,600
Goodwill, Impairment Loss	$ 0	$ 0

Intangible Assets, Goodwill a_4

Intangible Assets, Goodwill and Title Plant Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Finite-Lived Intangible Assets [Abstract]
Referral relationships	$ 8,898	$ 8,898
Non-compete agreements	3,155	3,155
Tradename	747	747
Total	12,800	12,800
Accumulated amortization	(7,076)	(6,176)
Identifiable intangible assets, net	$ 5,724	$ 6,624

Intangible Assets and Goodwill,

Intangible Assets and Goodwill, Schedule of Aggregate Amortization Expense for Intangible Assets (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Business Combinations [Abstract]
2024	$ 278
2025	1,095
2026	1,095
2027	679
2028	650
Thereafter	1,740
Identifiable intangible assets, net	$ 5,537

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income Balances Of Each Component Of Accumulated Other Comprehensive Income, Net Of Tax (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ 638
Other comprehensive income (loss), net of tax	$ 920	$ (916)	450	$ (955)
Ending balance	1,088		1,088
Unrealized Gains and Losses On Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	113	19	583	164
Other comprehensive (loss) income before calculations	920	(984)	394	(1,215)
Amounts reclassified from accumulated other comprehensive income	0	74	56	160
Other comprehensive income (loss), net of tax	920	(910)	450	(1,055)
Ending balance	1,033	(891)	1,033	(891)
Postretirement Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	55	142	55	36
Other comprehensive (loss) income before calculations	0	(6)	0	100
Amounts reclassified from accumulated other comprehensive income	0	0	0	0
Other comprehensive income (loss), net of tax	0	(6)	0	100
Ending balance	55	136	55	136
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	168	161	638	200
Other comprehensive (loss) income before calculations	920	(990)	394	(1,115)
Amounts reclassified from accumulated other comprehensive income	0	74	56	160
Other comprehensive income (loss), net of tax	920	(916)	450	(955)
Ending balance	$ 1,088	$ (755)	$ 1,088	$ (755)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income Reclassification Out Of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain (loss) on investments	$ 976	$ (815)	$ 4,640	$ 720
Write-down of securities	0	(96)	(74)	(208)
Income (loss) before income taxes	11,588	8,610	28,652	20,017
Tax	(2,273)	(1,526)	(5,941)	(4,167)
Net income	9,315	7,084	22,711	15,850
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	0	(74)	(56)	(160)
Reclassification out of Accumulated Other Comprehensive Income \| Unrealized Gains and Losses on Available-For-Sale Securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain (loss) on investments	0	0	0	0
Write-down of securities	0	(96)	(74)	(208)
Income (loss) before income taxes	0	(96)	(74)	(208)
Tax	0	22	18	48
Net income	$ 0	$ (74)	$ (56)	$ (160)

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue Recognition (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 8,879	$ 9,319	$ 26,011	$ 27,455
Total Revenues	68,829	61,410	187,670	171,067
Escrow and other title-related fees
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4,574	4,683	13,098	12,942
Non-title services
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4,305	4,636	12,913	14,513
Net premiums written
Disaggregation of Revenue [Line Items]
Other sources of revenue	54,855	49,822	146,451	132,793
Investment-related revenue
Disaggregation of Revenue [Line Items]
Other sources of revenue	4,707	2,012	14,460	10,172
Other
Disaggregation of Revenue [Line Items]
Other sources of revenue	$ 388	$ 257	$ 748	$ 647

Leases, Lease Cost (Details)

Leases, Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases, Lease Cost (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Lease expense	$ 650	$ 663	$ 2,015	$ 2,139
Finance lease, right-of-use asset, amortization	64	74	196	182
Lease expense before sub-lease income	714	737	2,211	2,321
Sub-lease income	(51)	0	(172)	0
Lease cost	$ 663	$ 737	$ 2,039	$ 2,321

Leases Current and Noncurrent L

Leases Current and Noncurrent Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease, liability, current	$ 2,265	$ 2,201
Finance lease, liability, current	224	170
Operating lease, liability, noncurrent	3,171	3,792
Finance lease, liability, noncurrent	428	286
Lease liabilities	$ 6,088	$ 6,449

Leases Schedule of Lease Paymen

Leases Schedule of Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
2024 - Operating	$ 2,430
2025 - Operating	1,613
2026 - Operating	840
2027 - Operating	297
2028 - Operating	264
Thereafter - Operating	366
Total Undiscounted payments - Operating	5,810
Less: Present value adjustment - Operating	(374)
Operating lease, liability	5,436
2024 - Finance	247
2025 - Finance	215
2026 - Finance	156
2027 - Finance	80
2028 - Finance	0
Thereafter - Finance	0
Total undiscounted payments - Finance	698
Less: Present Value Adjustment - Finance	(46)
Lease Liability - Finance	652
2024 - Total	2,677
2025 - Total	1,828
2026 - Total	996
2027 - Total	377
2028 - Total	264
Thereafter - Total	366
Total undiscounted payments - Total	6,508
Less present value adjustment - Total	(420)
Lease liabilities	$ 6,088	$ 6,449

Leases Other Information (Detai

Leases Other Information (Details)	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted average remaining lease term (years)	3 years 3 months 29 days	3 years 25 days
Finance lease, weighted average remaining lease term	3 years 10 days	2 years 11 months 4 days
Weighted average discount rate	4%	3.80%
Finance lease, weighted average discount rate, percent	4.40%	3.70%