Stewart Information Services (STC) 10-Q 7 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-02658
Entity Registrant Name	STEWART INFORMATION SERVICES CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-1677330
Entity Address, Address Line One	1360 Post Oak Blvd.,
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77056
City Area Code	713
Local Phone Number	625-8100
Title of 12(b) Security	Common Stock, $1 par value per share
Trading Symbol	STC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		23,706,719
Entity Central Index Key	0000094344
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues
Investment income	$ 4,752	$ 4,781	$ 14,631	$ 14,732
Investment and other gains – net	46,905	3,623	50,730	4,345
Revenues	559,508	507,640	1,430,102	1,437,739
Expenses
Amounts retained by agencies	208,973	224,966	576,559	623,967
Employee costs	143,815	138,288	412,967	423,389
Other operating expenses	87,826	90,811	251,030	257,029
Title losses and related claims	21,059	21,503	55,532	59,181
Depreciation and amortization	5,694	6,221	17,458	18,609
Interest	1,080	1,076	3,369	2,722
Total expenses	468,447	482,865	1,316,915	1,384,897
Income before taxes and noncontrolling interests	91,061	24,775	113,187	52,842
Income tax expense	(21,393)	(4,371)	(25,978)	(8,679)
Net income	69,668	20,404	87,209	44,163
Less net income attributable to noncontrolling interests	3,560	2,851	8,561	8,012
Net income attributable to Stewart	66,108	17,553	78,648	36,151
Net income	69,668	20,404	87,209	44,163
Other comprehensive (loss) income, net of taxes:
Foreign currency translation adjustments	(5,135)	1,140	1,928	(4,490)
Change in net unrealized gains and losses on investments	3,603	(1,910)	17,985	(12,344)
Reclassification adjustment for net losses (gains) included in net income	(92)	(137)	120	(617)
Other comprehensive (loss) income, net of taxes:	(1,624)	(907)	20,033	(17,451)
Comprehensive income	68,044	19,497	107,242	26,712
Less net income attributable to noncontrolling interests	3,560	2,851	8,561	8,012
Comprehensive income attributable to Stewart	$ 64,484	$ 16,646	$ 98,681	$ 18,700
Basic average shares outstanding (in shares)	23,616	23,556	23,608	23,537
Basic earnings per share attributable to Stewart (in usd per share)	$ 2.80	$ 0.75	$ 3.33	$ 1.54
Diluted average shares outstanding (in shares)	23,773	23,699	23,780	23,677
Diluted earnings per share attributable to Stewart (in usd per share)	$ 2.78	$ 0.74	$ 3.31	$ 1.53
Title - Direct operations
Revenues
Revenues	$ 245,068	$ 213,134	$ 634,198	$ 622,886
Title - Agency operations
Revenues
Revenues	254,155	272,875	699,835	756,986
Ancillary services
Revenues
Revenues	8,628	13,227	30,708	38,790
Operating revenues
Revenues
Revenues	$ 507,851	$ 499,236	$ 1,364,741	$ 1,418,662

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 320,960	$ 192,067
Short-term investments	22,692	22,950
Investments in debt and equity securities, at fair value	599,193	636,017
Receivables:
Premiums from agencies	31,869	29,032
Trade and other	46,990	43,568
Income taxes	1,791	489
Notes	3,109	2,987
Allowance for uncollectible amounts	(4,401)	(4,614)
Total receivables	79,358	71,462
Property and equipment:
Land	3,512	3,991
Buildings	21,440	22,968
Furniture and equipment	209,488	216,498
Accumulated depreciation	(178,577)	(182,663)
Total property and equipment, at cost	55,863	60,794
Operating lease assets	100,671
Title plants, at cost	74,737	74,737
Investments on equity method basis	5,965	8,590
Goodwill	248,890	248,890
Intangible assets, net of amortization	6,303	9,727
Deferred tax assets	4,592	4,575
Other assets	39,967	43,121
Total assets	1,559,191	1,372,930
Liabilities
Notes payable	105,371	108,036
Accounts payable and accrued liabilities	103,886	109,283
Operating lease liabilities	112,260
Estimated title losses	452,361	461,560
Deferred tax liabilities	25,429	14,214
Total liabilities	799,307	693,093
Contingent liabilities and commitments
Stockholders’ equity
Common Stock ($1 par value) and additional paid-in capital	189,613	186,714
Retained earnings	571,390	514,248
Accumulated other comprehensive income (loss):
Net unrealized investment gains (losses) on debt securities investments	12,839	(5,266)
Foreign currency translation adjustments	(17,577)	(19,505)
Treasury stock – 352,161 common shares, at cost	(2,666)	(2,666)
Stockholders’ equity attributable to Stewart	753,599	673,525
Noncontrolling interests	6,285	6,312
Total stockholders’ equity (23,711,652 and 23,719,347 shares outstanding)	759,884	679,837
Total liabilities and stockholders' equity	$ 1,559,191	$ 1,372,930

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 1	$ 1
Treasury stock, common shares (in shares)	352,161	352,161
Common stock, shares outstanding (in shares)	23,711,652	23,719,347

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Reconciliation of net income to cash provided by operating activities:
Net income	$ 87,209	$ 44,163
Add (deduct):
Depreciation and amortization	17,458	18,609
Provision for bad debt	889	510
Investment and other gains – net	(730)	(4,345)
Amortization of net premium on debt securities investments	3,790	4,617
Payments for title losses in excess of provisions	(11,266)	(1,106)
Adjustment for insurance recoveries of title losses	175	1,023
(Increase) decrease in receivables – net	(8,838)	2,020
Decrease (increase) in other assets – net	2,910	(406)
Increase (decrease) in accounts payable and other liabilities – net	6,753	(23,480)
Change in net deferred income taxes	5,563	(1,693)
Net income from equity investees	(1,996)	(1,344)
Dividends received from equity investees	1,964	2,187
Stock-based compensation expense	3,380	3,039
Other – net	28	(61)
Cash provided by operating activities	107,289	43,733
Investing activities:
Proceeds from sales of investments in securities	20,899	32,500
Proceeds from matured investments in debt securities	44,685	25,258
Purchases of investments in securities	(2,187)	(35,683)
Net purchases of short-term investments	(193)	(366)
Purchases of property and equipment, and real estate – net	(11,957)	(8,478)
Cash paid for acquisition of businesses	0	(17,639)
Other – net	2,111	327
Cash provided (used) by investing activities	53,358	(4,081)
Financing activities:
Payments on notes payable	(26,179)	(16,767)
Proceeds from notes payable	23,514	9,583
Distributions to noncontrolling interests	(8,578)	(8,665)
Contributions from noncontrolling interests	25	0
Repurchases of common stock	(481)	(687)
Cash dividends paid	(21,257)	(21,195)
Purchase of remaining interest in consolidated subsidiary	0	(1,102)
Cash used by financing activities	(32,956)	(38,833)
Effects of changes in foreign currency exchange rates	1,202	(1,229)
Increase (decrease) in cash and cash equivalents	128,893	(410)
Cash and cash equivalents at beginning of period	192,067	150,079
Cash and cash equivalents at end of period	$ 320,960	$ 149,669

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Treasury stock	Noncontrolling interests
Balances at beginning of period at Dec. 31, 2017	$ 678,810	$ 24,072	$ 159,954	$ 491,698	$ (847)	$ (2,666)	$ 6,599
Increase (Decrease) in Stockholders' Equity
Net income attributable to Stewart	36,151			36,151
Dividends on Common Stock	(21,373)			(21,373)
Stock-based compensation	3,039	38	3,001
Stock repurchases	(687)	(17)	(670)
Purchase of remaining interest in consolidated subsidiary	(1,102)		(946)				(156)
Net change in unrealized gains and losses on investments, net of taxes	(12,344)				(12,344)
Net investment realized loss (gain) reclassification, net of taxes	(617)				(617)
Foreign currency translation adjustments, net of taxes	(4,490)				(4,490)
Net income attributable to noncontrolling interests	8,012						8,012
Distributions to noncontrolling interests	(8,665)						(8,665)
Balances at end of period at Sep. 30, 2018	676,734	24,093	161,339	510,068	(21,890)	(2,666)	5,790
Balances at beginning of period at Jun. 30, 2018	666,237	24,097	160,204	499,656	(20,983)	(2,666)	5,929
Increase (Decrease) in Stockholders' Equity
Net income attributable to Stewart	17,553			17,553
Dividends on Common Stock	(7,141)			(7,141)
Stock-based compensation	1,060	(4)	1,064
Stock repurchases	(15)		(15)
Purchase of remaining interest in consolidated subsidiary	10		86				(76)
Net change in unrealized gains and losses on investments, net of taxes	(1,910)				(1,910)
Net investment realized loss (gain) reclassification, net of taxes	(137)				(137)
Foreign currency translation adjustments, net of taxes	1,140				1,140
Net income attributable to noncontrolling interests	2,851						2,851
Distributions to noncontrolling interests	(2,914)						(2,914)
Balances at end of period at Sep. 30, 2018	676,734	24,093	161,339	510,068	(21,890)	(2,666)	5,790
Balances at beginning of period at Dec. 31, 2018	679,837	24,072	162,642	514,248	(24,771)	(2,666)	6,312
Increase (Decrease) in Stockholders' Equity
Net income attributable to Stewart	78,648			78,648
Dividends on Common Stock	(21,506)			(21,506)
Stock-based compensation	3,380	4	3,376
Stock repurchases	(481)	(11)	(470)
Net change in unrealized gains and losses on investments, net of taxes	17,985				17,985
Net investment realized loss (gain) reclassification, net of taxes	120				120
Foreign currency translation adjustments, net of taxes	1,928				1,928
Net income attributable to noncontrolling interests	8,561						8,561
Distributions to noncontrolling interests	(8,578)						(8,578)
Net effect of other changes in ownership	(10)						(10)
Balances at end of period at Sep. 30, 2019	759,884	24,065	165,548	571,390	(4,738)	(2,666)	6,285
Balances at beginning of period at Jun. 30, 2019	700,827	24,065	164,235	512,467	(3,114)	(2,666)	5,840
Increase (Decrease) in Stockholders' Equity
Net income attributable to Stewart	66,108			66,108
Dividends on Common Stock	(7,185)			(7,185)
Stock-based compensation	1,323		1,323
Stock repurchases	(10)		(10)
Net change in unrealized gains and losses on investments, net of taxes	3,603				3,603
Net investment realized loss (gain) reclassification, net of taxes	(92)				(92)
Foreign currency translation adjustments, net of taxes	(5,135)				(5,135)
Net income attributable to noncontrolling interests	3,560						3,560
Distributions to noncontrolling interests	(3,091)						(3,091)
Net effect of other changes in ownership	(24)						(24)
Balances at end of period at Sep. 30, 2019	$ 759,884	$ 24,065	$ 165,548	$ 571,390	$ (4,738)	$ (2,666)	$ 6,285

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividends on common stock (in usd per share)	$ 0.30	$ 0.30	$ 0.90	$ 0.90

Interim financial statements

Interim financial statements	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Interim financial statements	Interim financial statements. The financial information contained in this report for the three and nine months ended September 30, 2019 and 2018 , and as of September 30, 2019 , is unaudited. This report should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 . A. Management’s responsibility. The accompanying interim financial statements were prepared by management, who is responsible for their integrity and objectivity. These financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP), including management’s best judgments and estimates. In the opinion of management, all adjustments necessary for a fair presentation of this information for all interim periods, consisting only of normal recurring accruals, have been made. The Company’s results of operations for interim periods are not necessarily indicative of results for a full year and actual results could differ. B. Consolidation. The condensed consolidated financial statements include all subsidiaries in which the Company owns more than 50% voting rights in electing directors. All significant intercompany amounts and transactions have been eliminated and provisions have been made for noncontrolling interests. Unconsolidated investees, in which the Company typically owns from 20% through 50% of the voting stock, are accounted for using the equity method. C. Restrictions on cash and investments. The Company maintains investments in accordance with certain statutory requirements for the funding of statutory premium reserves. Statutory reserve funds are required to be fully funded and invested in high-quality securities and short-term investments. Statutory reserve funds are not available for current claim payments, which must be funded from current operating cash flow. Included in investments in debt and equity securities are statutory reserve funds of approximately $439.9 million and $462.2 million at September 30, 2019 and December 31, 2018 , respectively, In addition, included within cash and cash equivalents are statutory reserve funds of approximately $77.4 million and $37.7 million at September 30, 2019 and December 31, 2018 , respectively. Although these cash statutory reserve funds are not restricted or segregated in depository accounts, they are required to be held pursuant to state statutes. If the Company fails to maintain minimum investments or cash and cash equivalents sufficient to meet statutory requirements, the Company may be subject to fines or other penalties, including potential revocation of its business license. These funds are not available for any other purpose. In the event that insurance regulators adjust the determination of the statutory premium reserves of the Company’s title insurers, these restricted funds as well as statutory surplus would correspondingly increase or decrease. D. Recently adopted accounting standard. In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Topic 842: Leases (Topic 842) which updates the current guidance related to leases to increase transparency and comparability among organizations. Most prominent among the changes in the standard is the recognition of right-of-use lease assets and lease liabilities on the balance sheet by lessees for those leases classified as operating leases. Additional financial statement disclosures are required to enable users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. Topic 842 is effective for annual and interim periods beginning after December 15, 2018. Topic 842 permits adoption using either a modified retrospective approach or an optional transition method. The optional transition method allows the application of the recognition and measurement requirements of the standard in the period of adoption and annual disclosures using the legacy lease guidance in Topic 840 for comparative periods. The Company adopted Topic 842 effective January 1, 2019 using the optional transition method of adoption. In addition, the Company elected practical expedients permitted under the transition guidance of the standard, which among other things, allowed the carry forward of the historical lease classifications for existing leases. The adoption resulted in the recognition on the Company's January 1, 2019 consolidated balance sheet of approximately $99.8 million of operating lease assets and lease liabilities, and the reclassification of approximately $10.7 million of existing deferred rent liabilities from accounts payable and accrued liabilities to operating lease assets. There was no impact on the Company's 2019 consolidated statements of income and comprehensive income and cash flows. The accounting treatment for finance leases remained substantially unchanged. E. Recent accounting standard not yet adopted. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (Topic 326). Topic 326 significantly changes the impairment model for financial instruments by introducing the current expected credit loss (CECL) model, which requires the immediate recognition of estimated credit losses expected to occur over the remaining life of the financial instrument. Current practice generally requires the recognition of credit losses when incurred. Topic 326 also amends certain accounting treatments for available-for-sale debt securities. Topic 326 is effective for the Company's fiscal year beginning January 1, 2020 and subsequent interim periods. The Company is currently evaluating the impact of this new standard on the Company's consolidated financial statements. F. Merger Agreement Termination. During March 2018, the Company entered into an agreement and plan of merger (Merger Agreement) with Fidelity National Financial, Inc. (FNF) (the Mergers), as disclosed in detail in Note 1-S of the Company’s 2018 Annual Report on Form 10-K and in Exhibit 2.1 to the Company's Current Report on Form 8-K filed on March 19, 2018 with the Securities and Exchange Commission. On September 9, 2019, the Company and FNF mutually terminated the Merger Agreement. In connection with the termination and as stipulated in the Merger Agreement, FNF paid the Company a reverse merger termination fee of $50 million , which is presented as part of Investment and other gains - net in the 2019 condensed consolidated statement of income and comprehensive income (refer to Notes 5 and 12).

Revenues

Revenues	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenues	Revenues. The Company's operating revenues, summarized by type, are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Title insurance premiums: Direct 174,635 152,739 448,920 444,447 Agency 254,155 272,875 699,835 756,986 Escrow fees 38,666 32,649 100,570 95,984 Search, abstract and valuation services 20,922 24,105 63,109 71,006 Other revenues 19,473 16,868 52,307 50,239 507,851 499,236 1,364,741 1,418,662

Investments in debt and equity

Investments in debt and equity securities	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investments in debt and equity securities	Investments in debt and equity securities. The total fair values of the Company's investments in debt and equity securities are as follows: September 30, 2019 December 31, 2018 ($000 omitted) Investments in: Debt securities 561,986 602,020 Equity securities 37,207 33,997 599,193 636,017 As of September 30, 2019 and December 31, 2018 , the net unrealized investment gains relating to investments in equity securities held were $ 6.3 million and $ 2.9 million, respectively. The amortized costs and fair values of investments in debt securities are as follows: September 30, 2019 December 31, 2018 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 53,315 54,964 61,779 61,934 Corporate 299,355 311,148 333,289 328,495 Foreign 186,523 189,308 200,667 198,938 U.S. Treasury Bonds 6,541 6,566 12,951 12,653 545,734 561,986 608,686 602,020 Foreign debt securities consist of Canadian government and corporate bonds, United Kingdom treasury and corporate bonds, and Mexican government bonds. Gross unrealized gains and losses on investments in debt securities are as follows: September 30, 2019 December 31, 2018 Gains Losses Gains Losses ($000 omitted) Municipal 1,650 1 482 327 Corporate 11,794 1 1,894 6,688 Foreign 3,325 540 1,402 3,131 U.S. Treasury Bonds 65 40 2 300 16,834 582 3,780 10,446 Debt securities as of September 30, 2019 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized costs Fair values ($000 omitted) In one year or less 53,152 53,176 After one year through five years 323,901 330,147 After five years through ten years 144,476 152,707 After ten years 24,205 25,956 545,734 561,986 Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2019 , were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal — — 1 560 1 560 Corporate 1 992 — — 1 992 Foreign 457 53,913 83 25,008 540 78,921 U.S. Treasury Bonds 40 2,334 — — 40 2,334 498 57,239 84 25,568 582 82,807 The number of specific debt investment holdings held in an unrealized loss position as of September 30, 2019 was 44 . Of these securities, 17 were in unrealized loss positions for more than 12 months. During 2019, the overall gross unrealized losses on debt securities improved compared to the prior year-end, primarily due to reduced interest rates and credit spreads which increased investment fair values. Since the Company does not intend to sell and will more likely than not maintain each investment security until its maturity or anticipated recovery, and no significant credit risk is deemed to exist, these investments are not considered as other-than-temporarily impaired. The Company believes its investment portfolio is diversified and expects no material loss to result from the failure to perform by issuers of the debt securities it holds. Investments made by the Company are not collateralized. Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2018 , were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 91 13,366 236 11,645 327 25,011 Corporate 4,416 201,965 2,272 71,044 6,688 273,009 Foreign 158 11,424 2,973 137,793 3,131 149,217 U.S. Treasury Bonds — — 300 12,544 300 12,544 4,665 226,755 5,781 233,026 10,446 459,781 Investment and other gains - net. Investments and other gains (losses) are detailed as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Investment and other gains 50,237 1,597 51,190 2,763 Investment and other losses (3,038 ) (151 ) (3,402 ) (220 ) Net unrealized investment (losses) gains recognized on equity securities still held at September 30 (294 ) 2,177 2,942 1,802 46,905 3,623 50,730 4,345 Investment and other gains - net in both the third quarter and first nine months of 2019 included a $ 50.0 million realized gain related to the reverse merger termination fee paid by FNF (refer to Note 1-F), partially offset by a $ 2.7 million impairment charge on an equity method investment. Investment and other gains - net in both the third quarter and first nine months of 2018 included a net unrealized gain of $ 1.2 million that resulted from a fair value change of an equity investment with previously no determinable fair value. Investment gains and losses recognized during the periods ended September 30, 2019 and 2018 related to investments in equity securities are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Net investment (losses) gains recognized on equity securities during the period (171 ) 2,775 3,222 2,161 Less: Net realized gains on equity securities sold during the period 123 598 280 359 Net unrealized investment (losses) gains recognized on equity securities still held at September 30 (294 ) 2,177 2,942 1,802 Proceeds from sales of investments in securities are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Proceeds from sales of debt securities 10,227 6,326 19,279 27,475 Proceeds from sales of equity securities 720 452 1,620 5,025 Total proceeds from sales of investments in securities 10,947 6,778 20,899 32,500

Fair value measurements

Fair value measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements. The Fair Value Measurements and Disclosures Topic (Topic 820) of the FASB Accounting Standards Codification (ASC) defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal, or most advantageous, market for the asset or liability in an orderly transaction between market participants at the measurement date. Topic 820 establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs when possible. The three levels of inputs used to measure fair value are as follows: • Level 1 – quoted prices in active markets for identical assets or liabilities; • Level 2 – observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data; and • Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair values of the assets or liabilities, including certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. As of September 30, 2019 , financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Fair value measurements ($000 omitted) Investments in securities: Debt securities: Municipal — 54,964 54,964 Corporate — 311,148 311,148 Foreign — 189,308 189,308 U.S. Treasury Bonds — 6,566 6,566 Equity securities 37,207 — 37,207 37,207 561,986 599,193 As of December 31, 2018 , financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Fair value measurements ($000 omitted) Investments in securities: Debt securities: Municipal — 61,934 61,934 Corporate — 328,495 328,495 Foreign — 198,938 198,938 U.S. Treasury Bonds — 12,653 12,653 Equity securities 33,997 — 33,997 33,997 602,020 636,017 As of September 30, 2019 , Level 1 financial instruments consist of equity securities. Level 2 financial instruments consist of municipal, governmental, and corporate bonds, both U.S. and foreign. In accordance with the Company’s policies and guidelines which incorporate relevant statutory requirements, the Company’s third-party registered investment manager invests only in securities rated as investment grade or higher by the major rating services, where observable valuation inputs are significant. The fair value of the Company's investments in debt and equity securities is primarily determined using a third-party pricing service provider. The third-party pricing service provider calculates the fair values using both market approach and model valuation methods, as well as pricing information obtained from brokers, dealers and custodians. Management ensures the reasonableness of the third-party service valuations by comparing them with pricing information from the Company's investment manager.

Investment and other gains - ne

Investment and other gains - net	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investment and other gains - net	Investments in debt and equity securities. The total fair values of the Company's investments in debt and equity securities are as follows: September 30, 2019 December 31, 2018 ($000 omitted) Investments in: Debt securities 561,986 602,020 Equity securities 37,207 33,997 599,193 636,017 As of September 30, 2019 and December 31, 2018 , the net unrealized investment gains relating to investments in equity securities held were $ 6.3 million and $ 2.9 million, respectively. The amortized costs and fair values of investments in debt securities are as follows: September 30, 2019 December 31, 2018 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 53,315 54,964 61,779 61,934 Corporate 299,355 311,148 333,289 328,495 Foreign 186,523 189,308 200,667 198,938 U.S. Treasury Bonds 6,541 6,566 12,951 12,653 545,734 561,986 608,686 602,020 Foreign debt securities consist of Canadian government and corporate bonds, United Kingdom treasury and corporate bonds, and Mexican government bonds. Gross unrealized gains and losses on investments in debt securities are as follows: September 30, 2019 December 31, 2018 Gains Losses Gains Losses ($000 omitted) Municipal 1,650 1 482 327 Corporate 11,794 1 1,894 6,688 Foreign 3,325 540 1,402 3,131 U.S. Treasury Bonds 65 40 2 300 16,834 582 3,780 10,446 Debt securities as of September 30, 2019 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized costs Fair values ($000 omitted) In one year or less 53,152 53,176 After one year through five years 323,901 330,147 After five years through ten years 144,476 152,707 After ten years 24,205 25,956 545,734 561,986 Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2019 , were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal — — 1 560 1 560 Corporate 1 992 — — 1 992 Foreign 457 53,913 83 25,008 540 78,921 U.S. Treasury Bonds 40 2,334 — — 40 2,334 498 57,239 84 25,568 582 82,807 The number of specific debt investment holdings held in an unrealized loss position as of September 30, 2019 was 44 . Of these securities, 17 were in unrealized loss positions for more than 12 months. During 2019, the overall gross unrealized losses on debt securities improved compared to the prior year-end, primarily due to reduced interest rates and credit spreads which increased investment fair values. Since the Company does not intend to sell and will more likely than not maintain each investment security until its maturity or anticipated recovery, and no significant credit risk is deemed to exist, these investments are not considered as other-than-temporarily impaired. The Company believes its investment portfolio is diversified and expects no material loss to result from the failure to perform by issuers of the debt securities it holds. Investments made by the Company are not collateralized. Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2018 , were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 91 13,366 236 11,645 327 25,011 Corporate 4,416 201,965 2,272 71,044 6,688 273,009 Foreign 158 11,424 2,973 137,793 3,131 149,217 U.S. Treasury Bonds — — 300 12,544 300 12,544 4,665 226,755 5,781 233,026 10,446 459,781 Investment and other gains - net. Investments and other gains (losses) are detailed as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Investment and other gains 50,237 1,597 51,190 2,763 Investment and other losses (3,038 ) (151 ) (3,402 ) (220 ) Net unrealized investment (losses) gains recognized on equity securities still held at September 30 (294 ) 2,177 2,942 1,802 46,905 3,623 50,730 4,345 Investment and other gains - net in both the third quarter and first nine months of 2019 included a $ 50.0 million realized gain related to the reverse merger termination fee paid by FNF (refer to Note 1-F), partially offset by a $ 2.7 million impairment charge on an equity method investment. Investment and other gains - net in both the third quarter and first nine months of 2018 included a net unrealized gain of $ 1.2 million that resulted from a fair value change of an equity investment with previously no determinable fair value. Investment gains and losses recognized during the periods ended September 30, 2019 and 2018 related to investments in equity securities are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Net investment (losses) gains recognized on equity securities during the period (171 ) 2,775 3,222 2,161 Less: Net realized gains on equity securities sold during the period 123 598 280 359 Net unrealized investment (losses) gains recognized on equity securities still held at September 30 (294 ) 2,177 2,942 1,802 Proceeds from sales of investments in securities are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Proceeds from sales of debt securities 10,227 6,326 19,279 27,475 Proceeds from sales of equity securities 720 452 1,620 5,025 Total proceeds from sales of investments in securities 10,947 6,778 20,899 32,500

Estimated title losses

Estimated title losses	9 Months Ended
	Sep. 30, 2019
Insurance [Abstract]
Estimated title losses	Estimated title losses. A summary of estimated title losses for the nine months ended September 30 is as follows: 2019 2018 ($000 omitted) Balances at January 1 461,560 480,990 Provisions: Current year 54,670 62,592 Previous policy years 863 (3,410 ) Total provisions 55,533 59,182 Payments, net of recoveries: Current year (11,424 ) (9,466 ) Previous policy years (55,375 ) (50,822 ) Total payments, net of recoveries (66,799 ) (60,288 ) Effects of changes in foreign currency exchange rates 2,067 (3,014 ) Balances at September 30 452,361 476,870 Loss ratios as a percentage of title operating revenues: Current year provisions 4.1 % 4.5 % Total provisions 4.2 % 4.3 % Title loss provisions during 2019 decreased compared to 2018, primarily as a result of lower title premiums in 2019. During 2018, the Company recorded a $4.0 million

Share-based payments

Share-based payments	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-based payments	Share-based payments. Beginning in 2018, the Company grants time-based and performance-based restricted stock units to executives and senior management employees. Each restricted stock unit represents a contractual right to receive a share of the Company's common stock. The time-based units vest on each of the first three anniversaries of the grant date, while the performance-based units vest upon achievement of certain financial objectives over a period of approximately three years . Awards are made pursuant to the Company’s employee incentive compensation plans and the compensation expense associated with the awards is recognized over the corresponding vesting period. The aggregate grant-date fair values of restricted stock unit awards during the first nine months of 2019 and 2018 were $5.0 million ( 119,000 units with an average grant price per unit of $42.05 ) and $4.8 million ( 111,000 units with an average grant price per unit of $43.39

Earnings per share

Earnings per share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings per share	Earnings per share. Basic earnings per share (EPS) attributable to Stewart is calculated by dividing net income attributable to Stewart by the weighted-average number of shares of Common Stock outstanding during the reporting periods. Outstanding shares of Common Stock granted to employees that are not yet vested (restricted shares) are excluded from the calculation of the weighted-average number of shares outstanding for calculating basic EPS. To calculate diluted EPS, the number of shares is adjusted to include the number of additional shares that would have been outstanding if the restricted shares and restricted units were vested. In periods of loss, dilutive shares are excluded from the calculation of the diluted EPS and diluted EPS is computed in the same manner as basic EPS. The calculation of the basic and diluted EPS is as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted, except per share) Numerator: Net income attributable to Stewart 66,108 17,553 78,648 36,151 Denominator (000): Basic average shares outstanding 23,616 23,556 23,608 23,537 Average number of dilutive shares relating to grants of restricted shares and units 157 143 172 140 Basic and diluted average shares outstanding 23,773 23,699 23,780 23,677 Basic earnings per share attributable to Stewart 2.80 0.75 3.33 1.54 Diluted earnings per share attributable to Stewart 2.78 0.74 3.31 1.53

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases. The Company primarily leases office space, storage units, data centers and equipment, and determines if an arrangement is a lease at inception. Operating leases are included in operating lease assets and operating lease liabilities on the consolidated balance sheets. Operating lease assets represent the right to use the underlying leased assets over the corresponding lease terms. Finance leases are included in furniture and equipment and notes payable on the consolidated balance sheets. Operating lease assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most of the Company's leases do not provide an implicit rate, the Company's incremental borrowing rate based on the information available at the lease commencement date is used in determining the present value of the future lease payments. Lease options to extend or terminate that the Company is reasonably certain to exercise are considered in the present value calculation. Operating lease expense, which is calculated on a straight-line basis over the lease term and presented as part of other operating expenses in the statement of income and comprehensive income, is composed of the amortization of the lease asset and the accretion of the lease liability. Finance lease expense is composed of the depreciation of the lease asset and accretion of the lease liability and presented as part of depreciation and amortization and interest expense, respectively, in the condensed consolidated statements of income and comprehensive income. The Company accounts for the lease and non-lease fixed payment components of a lease agreement as a single lease component for all its classes of assets. Variable lease payments are not capitalized and are recorded as lease expense when incurred or paid. Operating leases with initial terms of 12 months or less (short-term leases), which are not reasonably certain to be extended at the commencement date, are not capitalized on the balance sheet. Additionally, operating leases of equipment are not recorded on the balance sheet on the basis that they are relatively short-term in nature and considered as not material to the condensed consolidated balance sheet. During the three and nine months ended September 30, 2019, total operating lease expense was $10.8 million and $33.7 million, respectively, which included $1.0 million and $ 3.0 million, respectively, of lease expense related to short-term leases and equipment. Total finance lease expense was $0.6 million and $ 1.9 million, respectively, for the three and nine months ended September 30, 2019. Lease-related assets and liabilities as of September 30, 2019 are as follows ($000 omitted): Assets: Operating lease assets, net of accumulated amortization 100,671 Finance lease assets, net of accumulated depreciation 4,748 Total lease assets 105,419 Liabilities: Operating lease liabilities 112,260 Finance lease liabilities 4,330 Total lease liabilities 116,590 Other information related to operating and finance leases during the nine months ended September 30, 2019 is as follows: Operating Finance Cash paid for amounts included in the measurement of lease liabilities ($000) 33,310 2,424 Lease assets obtained in exchange for lease obligations ($000) 41,213 — Weighted average remaining lease term (years): 4.8 2.6 Weighted average discount rate 4.4 % 4.9 % Future minimum lease payments under operating and finance leases as of September 30, 2019 are as follows: Operating Finance ($000 omitted) 2019 (excludes the nine months ended September 30, 2019) 9,930 653 2020 35,760 1,913 2021 27,163 957 2022 19,958 957 2023 14,428 80 Thereafter 24,908 — Total future minimum lease payments 132,147 4,560 Less: imputed interest (19,887 ) (230 ) Net future minimum lease payments 112,260 4,330
Leases	Leases. The Company primarily leases office space, storage units, data centers and equipment, and determines if an arrangement is a lease at inception. Operating leases are included in operating lease assets and operating lease liabilities on the consolidated balance sheets. Operating lease assets represent the right to use the underlying leased assets over the corresponding lease terms. Finance leases are included in furniture and equipment and notes payable on the consolidated balance sheets. Operating lease assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most of the Company's leases do not provide an implicit rate, the Company's incremental borrowing rate based on the information available at the lease commencement date is used in determining the present value of the future lease payments. Lease options to extend or terminate that the Company is reasonably certain to exercise are considered in the present value calculation. Operating lease expense, which is calculated on a straight-line basis over the lease term and presented as part of other operating expenses in the statement of income and comprehensive income, is composed of the amortization of the lease asset and the accretion of the lease liability. Finance lease expense is composed of the depreciation of the lease asset and accretion of the lease liability and presented as part of depreciation and amortization and interest expense, respectively, in the condensed consolidated statements of income and comprehensive income. The Company accounts for the lease and non-lease fixed payment components of a lease agreement as a single lease component for all its classes of assets. Variable lease payments are not capitalized and are recorded as lease expense when incurred or paid. Operating leases with initial terms of 12 months or less (short-term leases), which are not reasonably certain to be extended at the commencement date, are not capitalized on the balance sheet. Additionally, operating leases of equipment are not recorded on the balance sheet on the basis that they are relatively short-term in nature and considered as not material to the condensed consolidated balance sheet. During the three and nine months ended September 30, 2019, total operating lease expense was $10.8 million and $33.7 million, respectively, which included $1.0 million and $ 3.0 million, respectively, of lease expense related to short-term leases and equipment. Total finance lease expense was $0.6 million and $ 1.9 million, respectively, for the three and nine months ended September 30, 2019. Lease-related assets and liabilities as of September 30, 2019 are as follows ($000 omitted): Assets: Operating lease assets, net of accumulated amortization 100,671 Finance lease assets, net of accumulated depreciation 4,748 Total lease assets 105,419 Liabilities: Operating lease liabilities 112,260 Finance lease liabilities 4,330 Total lease liabilities 116,590 Other information related to operating and finance leases during the nine months ended September 30, 2019 is as follows: Operating Finance Cash paid for amounts included in the measurement of lease liabilities ($000) 33,310 2,424 Lease assets obtained in exchange for lease obligations ($000) 41,213 — Weighted average remaining lease term (years): 4.8 2.6 Weighted average discount rate 4.4 % 4.9 % Future minimum lease payments under operating and finance leases as of September 30, 2019 are as follows: Operating Finance ($000 omitted) 2019 (excludes the nine months ended September 30, 2019) 9,930 653 2020 35,760 1,913 2021 27,163 957 2022 19,958 957 2023 14,428 80 Thereafter 24,908 — Total future minimum lease payments 132,147 4,560 Less: imputed interest (19,887 ) (230 ) Net future minimum lease payments 112,260 4,330

Contingent liabilities and comm

Contingent liabilities and commitments	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingent liabilities and commitments	Contingent liabilities and commitments. In the ordinary course of business, the Company guarantees the third-party indebtedness of certain of its consolidated subsidiaries. As of September 30, 2019 , the maximum potential future payments on the guarantees are not more than the related notes payable recorded in the condensed consolidated balance sheets. The Company also guarantees the indebtedness related to lease obligations of certain of its consolidated subsidiaries. The maximum future obligations arising from these lease-related guarantees are not more than the Company’s future minimum lease payments. As of September 30, 2019 , the Company also had unused letters of credit aggregating $ 5.4 million related to workers’ compensation and other insurance. The Company does not expect to make any payments on these guarantees.

Regulatory and legal developmen

Regulatory and legal developments	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Regulatory and legal developments	Regulatory and legal developments. The Company is subject to claims and lawsuits arising in the ordinary course of its business, most of which involve disputed policy claims. In some of these lawsuits, the plaintiff seeks exemplary or treble damages in excess of policy limits. The Company does not expect that any of these ordinary course proceedings will have a material adverse effect on its consolidated financial condition or results of operations. The Company believes that it has adequate reserves for the various litigation matters and contingencies discussed in this paragraph and that the likely resolution of these matters will not materially affect its consolidated financial condition or results of operations. Additionally, the Company receives from time to time various other inquiries from governmental regulators concerning practices in the insurance industry. Many of these practices do not concern title insurance. To the extent the Company is in receipt of such inquiries, it believes that it has adequately reserved for these matters and does not anticipate that the outcome of these inquiries will materially affect its consolidated financial condition or results of operations.

Segment information

Segment information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment information	Segment information. The Company reports two operating segments: title and ancillary services and corporate . The title segment provides services needed to transfer title to property in a real estate transaction and includes services such as searching, examining, closing and insuring the condition of the title to the property. In addition, the title segment includes home and personal insurance services and Internal Revenue Code Section 1031 tax-deferred exchanges. The ancillary services and corporate segment includes search and valuation services, which are the principal offerings of ancillary services, and expenses of the parent holding company and certain other enterprise-wide overhead costs (net of centralized administrative services costs allocated to respective operating businesses). Selected statement of income information related to these segments is as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Title segment: Revenues 501,199 493,186 1,349,272 1,397,722 Depreciation and amortization 5,110 5,362 15,309 15,929 Income before taxes and noncontrolling interest 49,481 35,999 88,144 78,860 Ancillary services and corporate segment: Revenues 58,309 14,454 80,830 40,017 Depreciation and amortization 584 859 2,149 2,680 Income (loss) before taxes and noncontrolling interest 41,580 (11,224 ) 25,043 (26,018 ) Consolidated Stewart: Revenues 559,508 507,640 1,430,102 1,437,739 Depreciation and amortization 5,694 6,221 17,458 18,609 Income before taxes and noncontrolling interest 91,061 24,775 113,187 52,842 Reported revenues and income before taxes and noncontrolling interest for the ancillary services and corporate segment included a $ 50.0 million pretax realized gain related to the reverse merger termination fee paid by FNF (refer to Note 1-F). The Company does not provide asset information by reportable operating segment as it does not routinely evaluate the asset position by segment. Revenues generated in the United States and all international operations are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) United States 522,159 473,477 1,340,254 1,347,310 International 37,349 34,163 89,848 90,429 559,508 507,640 1,430,102 1,437,739

Other comprehensive (loss) inco

Other comprehensive (loss) income	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Other comprehensive (loss) income	Other comprehensive (loss) income. Changes in the balances of each component of other comprehensive (loss) income and the related tax effects are as follows: Three Months Ended Three Months Ended Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount ($000 omitted) Net unrealized gains (losses) on investments: Change in net unrealized gains and losses on investments 4,560 957 3,603 (2,417 ) (507 ) (1,910 ) Less: reclassification adjustment for net gains included in net income (116 ) (24 ) (92 ) (174 ) (37 ) (137 ) 4,444 933 3,511 (2,591 ) (544 ) (2,047 ) Foreign currency translation adjustments (6,176 ) (1,041 ) (5,135 ) 1,620 480 1,140 Other comprehensive loss (1,732 ) (108 ) (1,624 ) (971 ) (64 ) (907 ) Nine Months Ended Nine Months Ended Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount ($000 omitted) Net unrealized gains (losses) on investments: Change in net unrealized gains and losses on investments 22,766 4,781 17,985 (15,625 ) (3,281 ) (12,344 ) Less: reclassification adjustment for net losses (gains) included in net income 152 32 120 (781 ) (164 ) (617 ) 22,918 4,813 18,105 (16,406 ) (3,445 ) (12,961 ) Foreign currency translation adjustments 2,750 822 1,928 (5,234 ) (744 ) (4,490 ) Other comprehensive income (loss) 25,668 5,635 20,033 (21,640 ) (4,189 ) (17,451 )

Interim financial statements (P

Interim financial statements (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Management's responsibility	Management’s responsibility. The accompanying interim financial statements were prepared by management, who is responsible for their integrity and objectivity. These financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP), including management’s best judgments and estimates. In the opinion of management, all adjustments necessary for a fair presentation of this information for all interim periods, consisting only of normal recurring accruals, have been made. The Company’s results of operations for interim periods are not necessarily indicative of results for a full year and actual results could differ.
Consolidation	Consolidation. The condensed consolidated financial statements include all subsidiaries in which the Company owns more than 50% voting rights in electing directors. All significant intercompany amounts and transactions have been eliminated and provisions have been made for noncontrolling interests. Unconsolidated investees, in which the Company typically owns from 20% through 50% of the voting stock, are accounted for using the equity method.
Restrictions on cash and investments	Restrictions on cash and investments. The Company maintains investments in accordance with certain statutory requirements for the funding of statutory premium reserves. Statutory reserve funds are required to be fully funded and invested in high-quality securities and short-term investments. Statutory reserve funds are not available for current claim payments, which must be funded from current operating cash flow. Included in investments in debt and equity securities are statutory reserve funds of approximately $439.9 million and $462.2 million at September 30, 2019 and December 31, 2018 , respectively, In addition, included within cash and cash equivalents are statutory reserve funds of approximately $77.4 million and $37.7 million at September 30, 2019 and December 31, 2018 , respectively. Although these cash statutory reserve funds are not restricted or segregated in depository accounts, they are required to be held pursuant to state statutes. If the Company fails to maintain minimum investments or cash and cash equivalents sufficient to meet statutory requirements, the Company may be subject to fines or other penalties, including potential revocation of its business license. These funds are not available for any other purpose. In the event that insurance regulators adjust the determination of the statutory premium reserves of the Company’s title insurers, these restricted funds as well as statutory surplus would correspondingly increase or decrease.
Recently adopted accounting standard and Recent accounting standard not yet adopted	Recently adopted accounting standard. In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Topic 842: Leases (Topic 842) which updates the current guidance related to leases to increase transparency and comparability among organizations. Most prominent among the changes in the standard is the recognition of right-of-use lease assets and lease liabilities on the balance sheet by lessees for those leases classified as operating leases. Additional financial statement disclosures are required to enable users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. Topic 842 is effective for annual and interim periods beginning after December 15, 2018. Topic 842 permits adoption using either a modified retrospective approach or an optional transition method. The optional transition method allows the application of the recognition and measurement requirements of the standard in the period of adoption and annual disclosures using the legacy lease guidance in Topic 840 for comparative periods. The Company adopted Topic 842 effective January 1, 2019 using the optional transition method of adoption. In addition, the Company elected practical expedients permitted under the transition guidance of the standard, which among other things, allowed the carry forward of the historical lease classifications for existing leases. The adoption resulted in the recognition on the Company's January 1, 2019 consolidated balance sheet of approximately $99.8 million of operating lease assets and lease liabilities, and the reclassification of approximately $10.7 million of existing deferred rent liabilities from accounts payable and accrued liabilities to operating lease assets. There was no impact on the Company's 2019 consolidated statements of income and comprehensive income and cash flows. The accounting treatment for finance leases remained substantially unchanged. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (Topic 326). Topic 326 significantly changes the impairment model for financial instruments by introducing the current expected credit loss (CECL) model, which requires the immediate recognition of estimated credit losses expected to occur over the remaining life of the financial instrument. Current practice generally requires the recognition of credit losses when incurred. Topic 326 also amends certain accounting treatments for available-for-sale debt securities. Topic 326 is effective for the Company's fiscal year beginning January 1, 2020 and subsequent interim periods. The Company is currently evaluating the impact of this new standard on the Company's consolidated financial statements.

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Summary of operating revenues	The Company's operating revenues, summarized by type, are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Title insurance premiums: Direct 174,635 152,739 448,920 444,447 Agency 254,155 272,875 699,835 756,986 Escrow fees 38,666 32,649 100,570 95,984 Search, abstract and valuation services 20,922 24,105 63,109 71,006 Other revenues 19,473 16,868 52,307 50,239 507,851 499,236 1,364,741 1,418,662

Investments in debt and equit_2

Investments in debt and equity securities (Tables)	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investments in debt securities	The total fair values of the Company's investments in debt and equity securities are as follows: September 30, 2019 December 31, 2018 ($000 omitted) Investments in: Debt securities 561,986 602,020 Equity securities 37,207 33,997 599,193 636,017 The amortized costs and fair values of investments in debt securities are as follows: September 30, 2019 December 31, 2018 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 53,315 54,964 61,779 61,934 Corporate 299,355 311,148 333,289 328,495 Foreign 186,523 189,308 200,667 198,938 U.S. Treasury Bonds 6,541 6,566 12,951 12,653 545,734 561,986 608,686 602,020 Proceeds from sales of investments in securities are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Proceeds from sales of debt securities 10,227 6,326 19,279 27,475 Proceeds from sales of equity securities 720 452 1,620 5,025 Total proceeds from sales of investments in securities 10,947 6,778 20,899 32,500
Investments in equity securities	The total fair values of the Company's investments in debt and equity securities are as follows: September 30, 2019 December 31, 2018 ($000 omitted) Investments in: Debt securities 561,986 602,020 Equity securities 37,207 33,997 599,193 636,017 September 30, 2019 and 2018 related to investments in equity securities are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Net investment (losses) gains recognized on equity securities during the period (171 ) 2,775 3,222 2,161 Less: Net realized gains on equity securities sold during the period 123 598 280 359 Net unrealized investment (losses) gains recognized on equity securities still held at September 30 (294 ) 2,177 2,942 1,802
Gross unrealized gains and losses	Gross unrealized gains and losses on investments in debt securities are as follows: September 30, 2019 December 31, 2018 Gains Losses Gains Losses ($000 omitted) Municipal 1,650 1 482 327 Corporate 11,794 1 1,894 6,688 Foreign 3,325 540 1,402 3,131 U.S. Treasury Bonds 65 40 2 300 16,834 582 3,780 10,446
Debt securities according to contractual terms	Debt securities as of September 30, 2019 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized costs Fair values ($000 omitted) In one year or less 53,152 53,176 After one year through five years 323,901 330,147 After five years through ten years 144,476 152,707 After ten years 24,205 25,956 545,734 561,986
Gross unrealized losses on investments and fair values of related securities	Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2019 , were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal — — 1 560 1 560 Corporate 1 992 — — 1 992 Foreign 457 53,913 83 25,008 540 78,921 U.S. Treasury Bonds 40 2,334 — — 40 2,334 498 57,239 84 25,568 582 82,807 Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2018 , were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 91 13,366 236 11,645 327 25,011 Corporate 4,416 201,965 2,272 71,044 6,688 273,009 Foreign 158 11,424 2,973 137,793 3,131 149,217 U.S. Treasury Bonds — — 300 12,544 300 12,544 4,665 226,755 5,781 233,026 10,446 459,781

Fair value measurements (Tables

Fair value measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Financial instruments measured at fair value on recurring basis	As of September 30, 2019 , financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Fair value measurements ($000 omitted) Investments in securities: Debt securities: Municipal — 54,964 54,964 Corporate — 311,148 311,148 Foreign — 189,308 189,308 U.S. Treasury Bonds — 6,566 6,566 Equity securities 37,207 — 37,207 37,207 561,986 599,193 As of December 31, 2018 , financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Fair value measurements ($000 omitted) Investments in securities: Debt securities: Municipal — 61,934 61,934 Corporate — 328,495 328,495 Foreign — 198,938 198,938 U.S. Treasury Bonds — 12,653 12,653 Equity securities 33,997 — 33,997 33,997 602,020 636,017

Investment and other gains - _2

Investment and other gains - net (Tables)	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Gross realized investment and other gains and losses	Investments and other gains (losses) are detailed as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Investment and other gains 50,237 1,597 51,190 2,763 Investment and other losses (3,038 ) (151 ) (3,402 ) (220 ) Net unrealized investment (losses) gains recognized on equity securities still held at September 30 (294 ) 2,177 2,942 1,802 46,905 3,623 50,730 4,345
Investments in equity securities still held	The total fair values of the Company's investments in debt and equity securities are as follows: September 30, 2019 December 31, 2018 ($000 omitted) Investments in: Debt securities 561,986 602,020 Equity securities 37,207 33,997 599,193 636,017 September 30, 2019 and 2018 related to investments in equity securities are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Net investment (losses) gains recognized on equity securities during the period (171 ) 2,775 3,222 2,161 Less: Net realized gains on equity securities sold during the period 123 598 280 359 Net unrealized investment (losses) gains recognized on equity securities still held at September 30 (294 ) 2,177 2,942 1,802
Proceeds from sale of investments in securities	The total fair values of the Company's investments in debt and equity securities are as follows: September 30, 2019 December 31, 2018 ($000 omitted) Investments in: Debt securities 561,986 602,020 Equity securities 37,207 33,997 599,193 636,017 The amortized costs and fair values of investments in debt securities are as follows: September 30, 2019 December 31, 2018 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 53,315 54,964 61,779 61,934 Corporate 299,355 311,148 333,289 328,495 Foreign 186,523 189,308 200,667 198,938 U.S. Treasury Bonds 6,541 6,566 12,951 12,653 545,734 561,986 608,686 602,020 Proceeds from sales of investments in securities are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Proceeds from sales of debt securities 10,227 6,326 19,279 27,475 Proceeds from sales of equity securities 720 452 1,620 5,025 Total proceeds from sales of investments in securities 10,947 6,778 20,899 32,500

Estimated title losses (Tables)

Estimated title losses (Tables)	9 Months Ended
	Sep. 30, 2019
Insurance [Abstract]
Summary of estimated title losses	A summary of estimated title losses for the nine months ended September 30 is as follows: 2019 2018 ($000 omitted) Balances at January 1 461,560 480,990 Provisions: Current year 54,670 62,592 Previous policy years 863 (3,410 ) Total provisions 55,533 59,182 Payments, net of recoveries: Current year (11,424 ) (9,466 ) Previous policy years (55,375 ) (50,822 ) Total payments, net of recoveries (66,799 ) (60,288 ) Effects of changes in foreign currency exchange rates 2,067 (3,014 ) Balances at September 30 452,361 476,870 Loss ratios as a percentage of title operating revenues: Current year provisions 4.1 % 4.5 % Total provisions 4.2 % 4.3 %

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The calculation of the basic and diluted EPS is as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted, except per share) Numerator: Net income attributable to Stewart 66,108 17,553 78,648 36,151 Denominator (000): Basic average shares outstanding 23,616 23,556 23,608 23,537 Average number of dilutive shares relating to grants of restricted shares and units 157 143 172 140 Basic and diluted average shares outstanding 23,773 23,699 23,780 23,677 Basic earnings per share attributable to Stewart 2.80 0.75 3.33 1.54 Diluted earnings per share attributable to Stewart 2.78 0.74 3.31 1.53

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of lease-related assets and liabilities	Lease-related assets and liabilities as of September 30, 2019 are as follows ($000 omitted): Assets: Operating lease assets, net of accumulated amortization 100,671 Finance lease assets, net of accumulated depreciation 4,748 Total lease assets 105,419 Liabilities: Operating lease liabilities 112,260 Finance lease liabilities 4,330 Total lease liabilities 116,590
Future minimum lease payments under non-cancellable operating lease	Other information related to operating and finance leases during the nine months ended September 30, 2019 is as follows: Operating Finance Cash paid for amounts included in the measurement of lease liabilities ($000) 33,310 2,424 Lease assets obtained in exchange for lease obligations ($000) 41,213 — Weighted average remaining lease term (years): 4.8 2.6 Weighted average discount rate 4.4 % 4.9 %
Future minimum lease payments under non-cancellable finance lease	Other information related to operating and finance leases during the nine months ended September 30, 2019 is as follows: Operating Finance Cash paid for amounts included in the measurement of lease liabilities ($000) 33,310 2,424 Lease assets obtained in exchange for lease obligations ($000) 41,213 — Weighted average remaining lease term (years): 4.8 2.6 Weighted average discount rate 4.4 % 4.9 %
Future minimum lease payments under operating and finance leases	Future minimum lease payments under operating and finance leases as of September 30, 2019 are as follows: Operating Finance ($000 omitted) 2019 (excludes the nine months ended September 30, 2019) 9,930 653 2020 35,760 1,913 2021 27,163 957 2022 19,958 957 2023 14,428 80 Thereafter 24,908 — Total future minimum lease payments 132,147 4,560 Less: imputed interest (19,887 ) (230 ) Net future minimum lease payments 112,260 4,330

Segment information (Tables)

Segment information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Selected statement of operations and income (loss) information related to segments	Selected statement of income information related to these segments is as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) Title segment: Revenues 501,199 493,186 1,349,272 1,397,722 Depreciation and amortization 5,110 5,362 15,309 15,929 Income before taxes and noncontrolling interest 49,481 35,999 88,144 78,860 Ancillary services and corporate segment: Revenues 58,309 14,454 80,830 40,017 Depreciation and amortization 584 859 2,149 2,680 Income (loss) before taxes and noncontrolling interest 41,580 (11,224 ) 25,043 (26,018 ) Consolidated Stewart: Revenues 559,508 507,640 1,430,102 1,437,739 Depreciation and amortization 5,694 6,221 17,458 18,609 Income before taxes and noncontrolling interest 91,061 24,775 113,187 52,842
Revenues generated in domestic and all international operations	Revenues generated in the United States and all international operations are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 ($000 omitted) United States 522,159 473,477 1,340,254 1,347,310 International 37,349 34,163 89,848 90,429 559,508 507,640 1,430,102 1,437,739

Other comprehensive (loss) in_2

Other comprehensive (loss) income (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Schedule of changes in the balances of each component of other comprehensive income (loss)	Changes in the balances of each component of other comprehensive (loss) income and the related tax effects are as follows: Three Months Ended Three Months Ended Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount ($000 omitted) Net unrealized gains (losses) on investments: Change in net unrealized gains and losses on investments 4,560 957 3,603 (2,417 ) (507 ) (1,910 ) Less: reclassification adjustment for net gains included in net income (116 ) (24 ) (92 ) (174 ) (37 ) (137 ) 4,444 933 3,511 (2,591 ) (544 ) (2,047 ) Foreign currency translation adjustments (6,176 ) (1,041 ) (5,135 ) 1,620 480 1,140 Other comprehensive loss (1,732 ) (108 ) (1,624 ) (971 ) (64 ) (907 ) Nine Months Ended Nine Months Ended Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount ($000 omitted) Net unrealized gains (losses) on investments: Change in net unrealized gains and losses on investments 22,766 4,781 17,985 (15,625 ) (3,281 ) (12,344 ) Less: reclassification adjustment for net losses (gains) included in net income 152 32 120 (781 ) (164 ) (617 ) 22,918 4,813 18,105 (16,406 ) (3,445 ) (12,961 ) Foreign currency translation adjustments 2,750 822 1,928 (5,234 ) (744 ) (4,490 ) Other comprehensive income (loss) 25,668 5,635 20,033 (21,640 ) (4,189 ) (17,451 )

Interim financial statements -

Interim financial statements - Restrictions on Cash and Investments (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Investments restricted for statutory reserve funds	$ 439.9	$ 462.2
Restricted cash and cash equivalent	$ 77.4	$ 37.7

Interim financial statements _2

Interim financial statements - Recently Adopted Accounting Standard (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use assets	$ 100,671	$ 99,800
Lease liabilities	112,260	99,800
Accounts payable and accrued liabilities	$ 103,886		$ 109,283
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use assets		10,700
Accounts payable and accrued liabilities		$ 10,700

Interim financial statements _3

Interim financial statements - Merger Agreement Termination (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Accounting Policies [Abstract]
Gain realized from termination fee paid by FNF	$ 0	$ 50

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 559,508	$ 507,640	$ 1,430,102	$ 1,437,739
Title insurance premiums, Direct
Disaggregation of Revenue [Line Items]
Revenues	174,635	152,739	448,920	444,447
Title insurance premiums, Agency
Disaggregation of Revenue [Line Items]
Revenues	254,155	272,875	699,835	756,986
Escrow fees
Disaggregation of Revenue [Line Items]
Revenues	38,666	32,649	100,570	95,984
Search, abstract and valuation services
Disaggregation of Revenue [Line Items]
Revenues	20,922	24,105	63,109	71,006
Other revenues
Disaggregation of Revenue [Line Items]
Revenues	19,473	16,868	52,307	50,239
Operating revenues
Disaggregation of Revenue [Line Items]
Revenues	$ 507,851	$ 499,236	$ 1,364,741	$ 1,418,662

Investments in debt and equit_3

Investments in debt and equity securities - Investments in Debt and Equity Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Debt securities	$ 561,986	$ 602,020
Equity securities	37,207	33,997
Investments in debt and equity securities	$ 599,193	$ 636,017

Investments in debt and equit_4

Investments in debt and equity securities - Additional Information (Details) $ in Millions	Sep. 30, 2019USD ($)investment	Dec. 31, 2018USD ($)
Investments, Debt and Equity Securities [Abstract]
Net unrealized investment gains on equity securities held | $	$ 6.3	$ 2.9
Number of investments in an unrealized loss position	44
Number of investments in an unrealized loss positions for more than 12 months	17

Investments in debt and equit_5

Investments in debt and equity securities - Amortized Costs and Fair Values (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized costs	$ 545,734	$ 608,686
Fair values	561,986	602,020
Municipal
Debt Securities, Available-for-sale [Line Items]
Amortized costs	53,315	61,779
Fair values	54,964	61,934
Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized costs	299,355	333,289
Fair values	311,148	328,495
Foreign
Debt Securities, Available-for-sale [Line Items]
Amortized costs	186,523	200,667
Fair values	189,308	198,938
U.S. Treasury Bonds
Debt Securities, Available-for-sale [Line Items]
Amortized costs	6,541	12,951
Fair values	$ 6,566	$ 12,653

Investments in debt and equit_6

Investments in debt and equity securities - Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Gains	$ 16,834	$ 3,780
Losses	582	10,446
Municipal
Debt Securities, Available-for-sale [Line Items]
Gains	1,650	482
Losses	1	327
Corporate
Debt Securities, Available-for-sale [Line Items]
Gains	11,794	1,894
Losses	1	6,688
Foreign
Debt Securities, Available-for-sale [Line Items]
Gains	3,325	1,402
Losses	540	3,131
U.S. Treasury Bonds
Debt Securities, Available-for-sale [Line Items]
Gains	65	2
Losses	$ 40	$ 300

Investments in debt and equit_7

Investments in debt and equity securities - Debt Securities According to Contractual Terms (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Amortized costs
In one year or less	$ 53,152
After one year through five years	323,901
After five years through ten years	144,476
After ten years	24,205
Amortized costs, total	545,734	$ 608,686
Fair values
In one year or less	53,176
After one year through five years	330,147
After five years through ten years	152,707
After ten years	25,956
Fair values, total	$ 561,986	$ 602,020

Investments in debt and equit_8

Investments in debt and equity securities - Gross Unrealized Losses on Investments and Fair Values of Related Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Losses
Less than 12 months	$ 498	$ 4,665
More than 12 months	84	5,781
Total	582	10,446
Fair values
Less than 12 months	57,239	226,755
More than 12 months	25,568	233,026
Total	82,807	459,781
Municipal
Losses
Less than 12 months	0	91
More than 12 months	1	236
Total	1	327
Fair values
Less than 12 months	0	13,366
More than 12 months	560	11,645
Total	560	25,011
Corporate
Losses
Less than 12 months	1	4,416
More than 12 months	0	2,272
Total	1	6,688
Fair values
Less than 12 months	992	201,965
More than 12 months	0	71,044
Total	992	273,009
Foreign
Losses
Less than 12 months	457	158
More than 12 months	83	2,973
Total	540	3,131
Fair values
Less than 12 months	53,913	11,424
More than 12 months	25,008	137,793
Total	78,921	149,217
U.S. Treasury Bonds
Losses
Less than 12 months	40	0
More than 12 months	0	300
Total	40	300
Fair values
Less than 12 months	2,334	0
More than 12 months	0	12,544
Total	$ 2,334	$ 12,544

Fair value measurements (Detail

Fair value measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 561,986	$ 602,020
Equity securities	37,207	33,997
Investments in debt and equity securities	599,193	636,017
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	37,207	33,997
Investments in debt and equity securities	37,207	33,997
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Investments in debt and equity securities	561,986	602,020
Municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	54,964	61,934
Municipal | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Municipal | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	54,964	61,934
Corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	311,148	328,495
Corporate | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Corporate | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	311,148	328,495
Foreign
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	189,308	198,938
Foreign | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Foreign | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	189,308	198,938
U.S. Treasury Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	6,566	12,653
U.S. Treasury Bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
U.S. Treasury Bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 6,566	$ 12,653

Investment and other gains - _3

Investment and other gains - net - Gross Realized Investment and Other Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Investment and other gains	$ 50,237	$ 1,597	$ 51,190	$ 2,763
Investment and other losses	(3,038)	(151)	(3,402)	(220)
Net unrealized investment (losses) gains recognized on equity securities still held at September 30	(294)	2,177	2,942	1,802
Investment and other gains (losses) – net	$ 46,905	$ 3,623	$ 50,730	$ 4,345

Investment and other gains - _4

Investment and other gains - net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Gain realized from termination fee paid by FNF	$ 0		$ 50
Impairment charge on equity method investment	$ 0		$ 2.7
Net unrealized gain of equity investment		$ 0		$ 1.2

Investment and other gains - _5

Investment and other gains - net - Net Gains on Investments in Equity Securities Still Held (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Net investment (losses) gains recognized on equity securities during the period	$ (171)	$ 2,775	$ 3,222	$ 2,161
Less: Net realized gains on equity securities sold during the period	123	598	280	359
Net unrealized investment (losses) gains recognized on equity securities still held at September 30	$ (294)	$ 2,177	$ 2,942	$ 1,802

Investment and other gains - _6

Investment and other gains - net - Proceeds from the Sale of Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales of debt securities	$ 10,227	$ 6,326	$ 19,279	$ 27,475
Proceeds from sales of equity securities	720	452	1,620	5,025
Total proceeds from sales of investments in securities	$ 10,947	$ 6,778	$ 20,899	$ 32,500

Estimated title losses (Details

Estimated title losses (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balances at beginning of period	$ 461,560	$ 480,990	$ 480,990
Provisions:
Current year	54,670	62,592
Previous policy years	863	(3,410)	4,000
Total provisions	55,533	59,182
Payments, net of recoveries:
Current year	(11,424)	(9,466)
Previous policy years	(55,375)	(50,822)
Total payments, net of recoveries	(66,799)	(60,288)
Effects of changes in foreign currency exchange rates	2,067	(3,014)
Balances at end of period	$ 452,361	$ 476,870	$ 461,560
Loss ratios as a percentage of title operating revenues:
Current year provisions	4.10%	4.50%
Total provisions	4.20%	4.30%

Share-based payments (Details)

Share-based payments (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Time-Based Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Performance-Based Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair values at grant date	$ 5
Share-based incentives, shares issued	119
Average grant price (in usd per share)	$ 42.05
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair values at grant date		$ 4.8
Share-based incentives, shares issued		111
Average grant price (in usd per share)		$ 43.39

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Net income attributable to Stewart	$ 66,108	$ 17,553	$ 78,648	$ 36,151
Denominator (000):
Basic average shares outstanding	23,616	23,556	23,608	23,537
Average number of dilutive shares relating to grants of restricted shares and units	157	143	172	140
Basic and diluted average shares outstanding	23,773	23,699	23,780	23,677
Basic earnings per share attribute to Stewart (in usd per share)	$ 2.80	$ 0.75	$ 3.33	$ 1.54
Diluted earnings per share attribute to Stewart (in usd per share)	$ 2.78	$ 0.74	$ 3.31	$ 1.53

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease expense	$ 10.8	$ 33.7
Short-term lease expense	1	3
Total finance lease expense	$ 0.6	$ 1.9

Leases - Classification of Leas

Leases - Classification of Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
Assets:
Operating lease assets, net of accumulated amortization	$ 100,671	$ 99,800
Finance lease assets, net of accumulated depreciation	4,748
Total lease assets	105,419
Liabilities:
Operating lease liabilities	112,260	$ 99,800
Finance lease liabilities	4,330
Total lease liabilities	$ 116,590

Leases - Other Information Rela

Leases - Other Information Related to Leases (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Operating
Cash paid for amounts included in the measurement of lease liabilities	$ 33,310
Lease assets obtained in exchange for lease obligations	$ 41,213
Weighted average remaining lease term (years)	4 years 9 months 18 days
Weighted average discount rate	4.40%
Finance
Cash paid for amounts included in the measurement of lease liabilities	$ 2,424
Lease assets obtained in exchange for lease obligations	$ 0
Weighted average remaining lease term (years)	2 years 7 months 6 days
Weighted average discount rate	4.90%

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
Operating
2019 (excludes the nine months ended September 30, 2019)	$ 9,930
2020	35,760
2021	27,163
2022	19,958
2023	14,428
Thereafter	24,908
Total future minimum lease payments	132,147
Less: imputed interest	(19,887)
Net future minimum lease payments	112,260	$ 99,800
Finance
2019 (excludes the nine months ended September 30, 2019)	653
2020	1,913
2021	957
2022	957
2023	80
Thereafter	0
Total future minimum lease payments	4,560
Less: imputed interest	(230)
Net future minimum lease payments	$ 4,330

Contingent liabilities and co_2

Contingent liabilities and commitments (Details) $ in Millions	Sep. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Guarantee of indebtedness, relating to unused letters of credit	$ 5.4

Segment information - Additiona

Segment information - Additional Information (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)segment
Segment Reporting [Abstract]
Number of operating segments | segment		2
Gain realized from termination fee paid by FNF | $	$ 0	$ 50

Segment information - Selected

Segment information - Selected Statement of Operations and Income (Loss) Information Related to Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Revenues	$ 559,508	$ 507,640	$ 1,430,102	$ 1,437,739
Depreciation and amortization	5,694	6,221	17,458	18,609
Income before taxes and noncontrolling interests	91,061	24,775	113,187	52,842
Title segment
Segment Reporting Information [Line Items]
Revenues	501,199	493,186	1,349,272	1,397,722
Depreciation and amortization	5,110	5,362	15,309	15,929
Income before taxes and noncontrolling interests	49,481	35,999	88,144	78,860
Ancillary services and corporate segment
Segment Reporting Information [Line Items]
Revenues	58,309	14,454	80,830	40,017
Depreciation and amortization	584	859	2,149	2,680
Income before taxes and noncontrolling interests	$ 41,580	$ (11,224)	$ 25,043	$ (26,018)

Segment information - Revenues

Segment information - Revenues Generated in United States and All International Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Revenues	$ 559,508	$ 507,640	$ 1,430,102	$ 1,437,739
United States
Segment Reporting Information [Line Items]
Revenues	522,159	473,477	1,340,254	1,347,310
International
Segment Reporting Information [Line Items]
Revenues	$ 37,349	$ 34,163	$ 89,848	$ 90,429

Other comprehensive (loss) in_3

Other comprehensive (loss) income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Before-Tax Amount
Other comprehensive income (loss)	$ (1,732)	$ (971)	$ 25,668	$ (21,640)
Tax Expense (Benefit)
Other comprehensive income (loss)	(108)	(64)	5,635	(4,189)
Net-of-Tax Amount
Other comprehensive (loss) income, net of taxes:	(1,624)	(907)	20,033	(17,451)
Net unrealized (losses) gains on investments
Before-Tax Amount
Change in net unrealized gains and losses on investments	4,560	(2,417)	22,766	(15,625)
Less: reclassification adjustment for net losses (gains) included in net income	(116)	(174)	152	(781)
Other comprehensive income (loss)	4,444	(2,591)	22,918	(16,406)
Tax Expense (Benefit)
Change in net unrealized gains and losses on investments	957	(507)	4,781	(3,281)
Less: reclassification adjustment for net losses (gains) included in net income	(24)	(37)	32	(164)
Other comprehensive income (loss)	933	(544)	4,813	(3,445)
Net-of-Tax Amount
Change in net unrealized gains and losses on investments	3,603	(1,910)	17,985	(12,344)
Less: reclassification adjustment for net gains included in net income	(92)	(137)	120	(617)
Other comprehensive (loss) income, net of taxes:	3,511	(2,047)	18,105	(12,961)
Foreign currency translation adjustments
Before-Tax Amount
Other comprehensive income (loss)	(6,176)	1,620	2,750	(5,234)
Tax Expense (Benefit)
Other comprehensive income (loss)	(1,041)	480	822	(744)
Net-of-Tax Amount
Other comprehensive (loss) income, net of taxes:	$ (5,135)	$ 1,140	$ 1,928	$ (4,490)

Uncategorized Items - q3-2019st

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	3,592,000
AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (3,592,000)