Stewart Information Services (STC) 10-Q 8 May 23 2023 Q1 Quarterly report Financial data

COVER PAGE

COVER PAGE - shares	3 Months Ended
	Mar. 31, 2023	May 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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		27,245,097
Entity Central Index Key	0000094344
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Operating revenues	$ 519,484	$ 845,209
Investment income	6,599	3,622
Net realized and unrealized (losses) gains	(1,778)	4,085
Revenues	524,305	852,916
Expenses
Amounts retained by agencies	205,738	331,191
Employee costs	170,551	204,982
Other operating expenses	120,743	189,751
Title losses and related claims	17,674	29,221
Depreciation and amortization	14,906	13,748
Interest	4,849	4,412
Total expenses	534,461	773,305
(Loss) income before taxes and noncontrolling interests	(10,156)	79,611
Income tax benefit (expense)	4,938	(17,699)
Net (loss) income	(5,218)	61,912
Less income attributable to noncontrolling interests	2,972	4,015
Net (loss) income attributable to Stewart	(8,190)	57,897
Net (loss) income attributable to Stewart
Net (loss) income	(5,218)	61,912
Other comprehensive loss, net of taxes:
Foreign currency translation adjustments	598	620
Change in net unrealized gains and losses on investments	6,617	(19,898)
Reclassification adjustments for realized gains and losses on investments	92	(185)
Other comprehensive income (loss)	7,307	(19,463)
Comprehensive income	2,089	42,449
Less income attributable to noncontrolling interests	2,972	4,015
Comprehensive (loss) income attributable to Stewart	$ (883)	$ 38,434
Basic average shares outstanding (in shares)	27,201	26,960
Basic (loss) earnings per share attributable to Stewart (in usd per share)	$ (0.30)	$ 2.15
Diluted average shares outstanding (in shares)	27,201	27,444
Diluted (loss) earnings per share attributable to Stewart (in usd per share)	$ (0.30)	$ 2.11
Direct operations
Revenues
Operating revenues	$ 207,871	$ 317,834
Agency operations
Revenues
Operating revenues	249,021	404,145
Real estate solutions and other
Revenues
Operating revenues	$ 62,592	$ 123,230

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 174,815	$ 248,367
Short-term investments	26,407	24,318
Investments, at fair value:
Debt securities (amortized cost of $634,616 and $646,728)	608,314	611,934
Equity securities	81,441	98,149
Investments, at fair value	689,755	710,083
Receivables:
Premiums from agencies	37,231	39,921
Trade and other	74,903	67,348
Income taxes	18,708	10,281
Notes	7,465	7,482
Allowance for uncollectible amounts	(7,440)	(7,309)
Receivables	130,867	117,723
Property and equipment:
Land	2,545	2,545
Buildings	19,042	18,761
Furniture and equipment	219,002	213,707
Accumulated depreciation	(159,909)	(153,474)
Property and equipment	80,680	81,539
Operating lease assets	128,192	127,830
Title plants, at cost	73,358	73,358
Investments on equity method basis	3,896	4,575
Goodwill	1,094,406	1,072,982
Intangible assets, net of amortization	190,827	199,084
Deferred tax assets	2,586	2,590
Other assets	83,271	75,430
Total assets	2,679,060	2,737,879
Liabilities
Notes payable	445,067	447,006
Accounts payable and accrued liabilities	163,001	196,541
Operating lease liabilities	147,594	148,003
Estimated title losses	533,415	549,448
Deferred tax liabilities	30,231	26,616
Total liabilities	1,319,308	1,367,614
Contingent liabilities and commitments
Stockholders’ equity
Common Stock ($1 par value) and additional paid-in capital	327,823	324,344
Retained earnings	1,071,320	1,091,816
Accumulated other comprehensive loss:
Foreign currency translation adjustments	(23,258)	(23,856)
Net unrealized losses on debt securities investments	(20,778)	(27,487)
Treasury stock – 352,161 common shares, at cost	(2,666)	(2,666)
Stockholders’ equity attributable to Stewart	1,352,441	1,362,151
Noncontrolling interests	7,311	8,114
Total stockholders’ equity (27,245,097 and 27,130,412 shares outstanding)	1,359,752	1,370,265
Total liabilities and stockholders' equity	$ 2,679,060	$ 2,737,879

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Amortized cost	$ 634,616	$ 646,728
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)	27,245,097	27,130,412

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reconciliation of net (loss) income to cash (used) provided by operating activities:
Net (loss) income	$ (5,218)	$ 61,912
Add (deduct):
Depreciation and amortization	14,906	13,748
Adjustments for bad debt provisions	590	14
Net realized and unrealized losses (gains)	1,778	(4,085)
Amortization of net premium on debt securities investments	230	690
Payments for title losses (higher) less than provisions	(15,797)	8,959
Adjustments for insurance recoveries of title losses	0	220
(Increase) decrease in receivables – net	(13,724)	6,226
Increase in other assets – net	(4,506)	(5,046)
Decrease in accounts payable and other liabilities – net	(34,656)	(50,808)
Change in net deferred income taxes	1,724	265
Net income from equity method investments	(28)	(736)
Dividends received from equity method investments	680	1,167
Stock-based compensation expense	2,759	2,239
Other – net	200	110
Cash (used) provided by operating activities	(51,062)	34,875
Investing activities:
Proceeds from sales of investments in securities	26,772	17,650
Proceeds from matured investments in debt securities	25,338	15,923
Purchases of investments in securities	(23,965)	(66,882)
Net purchases of short-term investments	(2,541)	(60)
Purchases of property and equipment, and real estate	(8,894)	(12,291)
Proceeds from sale of property and equipment and other assets	49	829
Cash paid for acquisition of businesses	(21,500)	(17,904)
Other – net	(71)	(2,481)
Cash used by investing activities	(4,812)	(65,216)
Financing activities:
Proceeds from notes payable	3,521	140
Payments on notes payable	(5,589)	(37,819)
Distributions to noncontrolling interests	(3,775)	(4,568)
Repurchases of Common Stock	(1,271)	(2,462)
Proceeds from stock option and employee stock purchase plan exercises	1,991	2,492
Cash dividends paid	(12,260)	(10,119)
Payment of contingent consideration related to acquisitions	0	(6,262)
Other - net	0	36
Cash used by financing activities	(17,383)	(58,562)
Effects of changes in foreign currency exchange rates	(295)	(367)
Change in cash and cash equivalents	(73,552)	(89,270)
Cash and cash equivalents at beginning of period	248,367	485,919
Cash and cash equivalents at end of period	$ 174,815	$ 396,649

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS 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, 2021	$ 1,294,735	$ 27,246	$ 282,376	$ 974,800	$ 253	$ (2,666)	$ 12,726
Increase (Decrease) in Stockholders' Equity
Net loss attributable to Stewart	57,897			57,897
Dividends on common stock	(10,241)			(10,241)
Stock-based compensation	2,239	108	2,131
Stock repurchases	(2,462)	(36)	(2,426)
Stock option and employee stock purchase plan exercises	2,492	49	2,443
Change in net unrealized gains and losses on investments, net of taxes	(19,898)				(19,898)
Reclassification adjustment for realized gains and losses on investments, net of taxes	(185)				(185)
Foreign currency translation adjustments, net of taxes	620				620
Net income attributable to noncontrolling interests	4,015						4,015
Distributions to noncontrolling interests	(4,568)						(4,568)
Net effect of other changes in ownership	144						144
Balances at end of period at Mar. 31, 2022	1,324,788	27,367	284,524	1,022,456	(19,210)	(2,666)	12,317
Balances at beginning of period at Dec. 31, 2022	1,370,265	27,483	296,861	1,091,816	(51,343)	(2,666)	8,114
Increase (Decrease) in Stockholders' Equity
Net loss attributable to Stewart	(8,190)			(8,190)
Dividends on common stock	(12,306)			(12,306)
Stock-based compensation	2,759	93	2,666
Stock repurchases	(1,271)	(30)	(1,241)
Stock option and employee stock purchase plan exercises	1,991	52	1,939
Change in net unrealized gains and losses on investments, net of taxes	6,617				6,617
Reclassification adjustment for realized gains and losses on investments, net of taxes	92				92
Foreign currency translation adjustments, net of taxes	598				598
Net income attributable to noncontrolling interests	2,972						2,972
Distributions to noncontrolling interests	(3,775)						(3,775)
Balances at end of period at Mar. 31, 2023	$ 1,359,752	$ 27,598	$ 300,225	$ 1,071,320	$ (44,036)	$ (2,666)	$ 7,311

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends on common stock per share (in usd per share)	$ 0.45	$ 0.38

Interim financial statements

Interim financial statements	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Interim financial statements	Interim financial statements. The financial information contained in this report for the three months ended March 31, 2023 and 2022, and as of March 31, 2023, 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, 2022 filed with the Securities and Exchange Commission on February 28, 2023 (2022 Form 10-K). 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 the United States (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% to 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 c urrent operating cash flow. Included in investments in debt and equity securities are statutory reserve funds of approximately $541.6 million and $544.0 million at March 31, 2023 and December 31, 2022, respectively. In addition, included within cash and cash equivalents are statutory reserve funds of approximately $10.3 million a nd $8.6 million at March 31, 2023 and December 31, 2022, 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.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenues	Revenues. The Company's operating revenues, summarized by type, are as follows: Three Months Ended 2023 2022 ($000 omitted) Title insurance premiums: Direct 130,817 205,562 Agency 249,021 404,145 Escrow fees 32,927 55,792 Real estate solutions and abstract fees 77,160 108,802 Other revenues 29,559 70,908 519,484 845,209

Investments in debt and equity

Investments in debt and equity securities	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments in debt and equity securities	Investments in debt and equity securities. As of March 31, 2023 and December 31, 2022, the net unrealized investment gains relating to investments in equity securitie s held w ere $13.4 million a nd $19.2 million, respectively (refer to Note 5). The amortized costs and fair values of investments in debt securities are as follows: March 31, 2023 December 31, 2022 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 26,619 26,487 30,104 29,835 Corporate 259,084 244,479 272,362 254,316 Foreign 318,408 306,885 315,184 299,137 U.S. Treasury Bonds 30,505 30,463 29,078 28,646 634,616 608,314 646,728 611,934 Foreign debt securities primarily consist of Canadian government, provincial 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: March 31, 2023 December 31, 2022 Gains Losses Gains Losses ($000 omitted) Municipal 29 161 3 272 Corporate 815 15,420 489 18,535 Foreign 1,034 12,557 165 16,212 U.S. Treasury Bonds 129 171 21 453 2,007 28,309 678 35,472 Debt securities as of March 31, 2023 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 63,817 63,214 After one year through five years 380,826 363,161 After five years through ten years 174,554 168,393 After ten years 15,419 13,546 634,616 608,314 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 March 31, 2023, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 89 16,879 72 2,850 161 19,729 Corporate 3,944 111,914 11,476 115,713 15,420 227,627 Foreign 539 33,353 12,018 220,333 12,557 253,686 U.S. Treasury Bonds 96 14,094 75 1,284 171 15,378 4,668 176,240 23,641 340,180 28,309 516,420 The number of specific debt investment holdings held in an unrealized loss position as of March 31, 2023 was 321. Of these securities, 181 were in unrealized loss positions for more than 12 months. Gross unrealized investment losses at March 31, 2023 decreased compared to December 31, 2022, primarily due to interest rates declines during the first quarter 2023. Since the Company does not intend to sell and, more likely than not, will maintain each investment security until its maturity or anticipated recovery in value, and no significant credit risk is deemed to exist, these investments are not considered as credit-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, 2022, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 262 27,491 10 67 272 27,558 Corporate 12,935 193,239 5,600 44,342 18,535 237,581 Foreign 7,608 186,221 8,604 101,294 16,212 287,515 U.S. Treasury Bonds 413 25,102 40 445 453 25,547 21,218 432,053 14,254 146,148 35,472 578,201 Net realized and unrealized gains. Realized and unrealized gains and losses are detailed as follows: Three Months Ended 2023 2022 ($000 omitted) Realized gains 61 1,594 Realized losses (747) (168) Net unrealized investment (losses) gains recognized on equity securities still held at end of period (1,092) 2,659 (1,778) 4,085 Realized losses during the first quarter 2023 were primarily related to sales of securities investments. Realized gains during the first quarter 2022 included a $1.0 million gain related to a sale of a title plant copy. Investment gains and losses recognized related to investments in equity securities are as follows: Three Months Ended 2023 2022 ($000 omitted) Net investment (losses) gains recognized on equity securities during the period (1,756) 2,785 Less: Net realized (losses) gains on equity securities sold during the period (664) 126 Net unrealized investment (losses) gains recognized on equity securities still held at end of period (1,092) 2,659 Proceeds from sales of investments in securities are as follows: Three Months Ended 2023 2022 ($000 omitted) Proceeds from sales of debt securities 7,446 17,280 Proceeds from sales of equity securities 19,326 370 Total proceeds from sales of investments in securities 26,772 17,650

Fair value measurements

Fair value measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements. Fair value is defined 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. Under U.S. GAAP, there is 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 March 31, 2023, 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 — 26,487 26,487 Corporate — 244,479 244,479 Foreign — 306,885 306,885 U.S. Treasury Bonds — 30,463 30,463 Equity securities 81,441 — 81,441 81,441 608,314 689,755 As of December 31, 2022, 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 — 29,835 29,835 Corporate — 254,316 254,316 Foreign — 299,137 299,137 U.S. Treasury Bonds — 28,646 28,646 Equity securities 98,149 — 98,149 98,149 611,934 710,083 As of March 31, 2023 and December 31, 2022, 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.

Net realized and unrealized gai

Net realized and unrealized gains	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Net realized and unrealized gains	Investments in debt and equity securities. As of March 31, 2023 and December 31, 2022, the net unrealized investment gains relating to investments in equity securitie s held w ere $13.4 million a nd $19.2 million, respectively (refer to Note 5). The amortized costs and fair values of investments in debt securities are as follows: March 31, 2023 December 31, 2022 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 26,619 26,487 30,104 29,835 Corporate 259,084 244,479 272,362 254,316 Foreign 318,408 306,885 315,184 299,137 U.S. Treasury Bonds 30,505 30,463 29,078 28,646 634,616 608,314 646,728 611,934 Foreign debt securities primarily consist of Canadian government, provincial 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: March 31, 2023 December 31, 2022 Gains Losses Gains Losses ($000 omitted) Municipal 29 161 3 272 Corporate 815 15,420 489 18,535 Foreign 1,034 12,557 165 16,212 U.S. Treasury Bonds 129 171 21 453 2,007 28,309 678 35,472 Debt securities as of March 31, 2023 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 63,817 63,214 After one year through five years 380,826 363,161 After five years through ten years 174,554 168,393 After ten years 15,419 13,546 634,616 608,314 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 March 31, 2023, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 89 16,879 72 2,850 161 19,729 Corporate 3,944 111,914 11,476 115,713 15,420 227,627 Foreign 539 33,353 12,018 220,333 12,557 253,686 U.S. Treasury Bonds 96 14,094 75 1,284 171 15,378 4,668 176,240 23,641 340,180 28,309 516,420 The number of specific debt investment holdings held in an unrealized loss position as of March 31, 2023 was 321. Of these securities, 181 were in unrealized loss positions for more than 12 months. Gross unrealized investment losses at March 31, 2023 decreased compared to December 31, 2022, primarily due to interest rates declines during the first quarter 2023. Since the Company does not intend to sell and, more likely than not, will maintain each investment security until its maturity or anticipated recovery in value, and no significant credit risk is deemed to exist, these investments are not considered as credit-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, 2022, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 262 27,491 10 67 272 27,558 Corporate 12,935 193,239 5,600 44,342 18,535 237,581 Foreign 7,608 186,221 8,604 101,294 16,212 287,515 U.S. Treasury Bonds 413 25,102 40 445 453 25,547 21,218 432,053 14,254 146,148 35,472 578,201 Net realized and unrealized gains. Realized and unrealized gains and losses are detailed as follows: Three Months Ended 2023 2022 ($000 omitted) Realized gains 61 1,594 Realized losses (747) (168) Net unrealized investment (losses) gains recognized on equity securities still held at end of period (1,092) 2,659 (1,778) 4,085 Realized losses during the first quarter 2023 were primarily related to sales of securities investments. Realized gains during the first quarter 2022 included a $1.0 million gain related to a sale of a title plant copy. Investment gains and losses recognized related to investments in equity securities are as follows: Three Months Ended 2023 2022 ($000 omitted) Net investment (losses) gains recognized on equity securities during the period (1,756) 2,785 Less: Net realized (losses) gains on equity securities sold during the period (664) 126 Net unrealized investment (losses) gains recognized on equity securities still held at end of period (1,092) 2,659 Proceeds from sales of investments in securities are as follows: Three Months Ended 2023 2022 ($000 omitted) Proceeds from sales of debt securities 7,446 17,280 Proceeds from sales of equity securities 19,326 370 Total proceeds from sales of investments in securities 26,772 17,650

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill. The summary of changes in goodwill is as follows: Title Real Estate Solutions Corporate and Other Total ($000 omitted) Balances at December 31, 2022 720,478 352,504 — 1,072,982 Acquisitions 3,674 18,000 — 21,674 Purchase accounting adjustments (250) — — (250) Balances at March 31, 2023 723,902 370,504 — 1,094,406

Estimated title losses

Estimated title losses	3 Months Ended
	Mar. 31, 2023
Loss Contingency [Abstract]
Estimated title losses	Estimated title losses. A summary of estimated title losses for the three months ended March 31 is as follows: 2023 2022 ($000 omitted) Balances at January 1 549,448 549,614 Provisions: Current year 17,214 28,882 Previous policy years 460 339 Total provisions 17,674 29,221 Payments, net of recoveries: Current year (3,470) (3,192) Previous policy years (30,001) (17,070) Total payments, net of recoveries (33,471) (20,262) Effects of changes in foreign currency exchange rates (236) 2,145 Balances at March 31 533,415 560,718 Loss ratios as a percentage of title operating revenues: Current year provisions 3.8 % 4.0 % Total provisions 3.9 % 4.0 %

Share-based payments

Share-based payments	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-based payments	Share-based payments. As part of its incentive compensation program for executives and senior management employees, the Company provides share-based awards, which usually include a combination of time-based restricted stock units, performance-based restricted stock units and stock options. Each restricted stock unit represents a contractual right to receive a share of the Company's common stock. The time-based units generally vest on each of the first three The stock options vest on each of the first three anniversaries of the grant date at a rate of 20%, 30% and 50%, chronologically, and expire 10 years after the grant date. Each vested stock option can be exercised to purchase a share of the Company's common stock at the strike price set by the Company at the grant date. The compensation expense associated with the share-based awards is calculated based on the fair value of the related award and recognized over the corresponding vesting period.

(Loss) earnings per share

(Loss) earnings per share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
(Loss) earnings per share	(Loss) earnings per share. Basic earnings (loss) per share (EPS) attributable to Stewart is calculated by dividing net income (loss) 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 restricted units and shares were vested and stock options were exercised. 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 2023 2022 ($000 omitted, except per share) Numerator: Net (loss) income attributable to Stewart (8,190) 57,897 Denominator (000): Basic average shares outstanding 27,201 26,960 Average number of dilutive shares relating to options — 265 Average number of dilutive shares relating to grants of restricted units and shares — 219 Diluted average shares outstanding 27,201 27,444 Basic (loss) earnings per share attributable to Stewart (0.30) 2.15 Diluted (loss) earnings per share attributable to Stewart (0.30) 2.11

Contingent liabilities and comm

Contingent liabilities and commitments	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023, 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 guaran tees are not more than the Company’s future lease obligations, as presented on the condensed consolidated balance sheets, plus lease operating expenses. As of March 31, 2023, the Company also had unused letters of credit aggregating $4.9 million r elated 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	3 Months Ended
	Mar. 31, 2023
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 plaintiffs seek 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 referred to in this paragraph and that the likely resolution of these matters will not materially affect its consolidated financial condition or results of operations. The Company is subject to non-ordinary course of business claims or lawsuits from time to time. To the extent the Company is currently the subject of these types of lawsuits, the Company has determined either that a loss is not reasonably possible or that the estimated loss or range of loss, if any, will not have a material adverse effect on the Company’s financial condition, results of operations or cash flows. Additionally, the Company occasionally receives various 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, where appropriate, 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	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment information	Segment information. The Company has three reportable operating segments: the title segment, the real estate solutions segment, and the corporate and other segment. The title segment provides services needed to transfer title to property in a real estate transaction and includes services such as searching, abstracting, examining, closing and insuring the condition of the title to the property. In addition, the title segment includes home and personal insurance services, Internal Revenue Code Section 1031 tax-deferred exchanges, and digital customer engagement platform services. The real estate solutions segment supports the real estate industry and primarily includes credit and real estate information services, valuation management services, online notarization and closing services, and search services. The corporate and other segment is primarily comprised of the parent holding company and centralized administrative services departments. Selected statement of operations information related to these segments is as follows: Three Months Ended 2023 2022 ($000 omitted) Title segment: Revenues 461,645 729,359 Depreciation and amortization 8,104 6,141 (Loss) income before taxes and noncontrolling interest (664) 82,783 Real estate solutions segment: Revenues 62,625 89,391 Depreciation and amortization 6,300 6,796 Income before taxes 1,366 6,791 Corporate and other segment: Revenues 35 34,166 Depreciation and amortization 502 811 Loss before taxes (10,858) (9,963) Consolidated Stewart: Revenues 524,305 852,916 Depreciation and amortization 14,906 13,748 (Loss) income before taxes and noncontrolling interest (10,156) 79,611 The Company does not provide asset information by reportable operating segment as it does not routinely evaluate the asset position by segment. During 2022, the corporate and other segment included results of a real estate brokerage company that was sold during the second quarter 2022. Total revenues generated in the United States and all international operations are as follows: Three Months Ended 2023 2022 ($000 omitted) United States 497,531 809,204 International 26,774 43,712 524,305 852,916

Other comprehensive income (los

Other comprehensive income (loss)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Other comprehensive income (loss)	Other comprehensive income (loss). Changes in the balances of each component of other comprehensive income (loss) 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 and losses on investments: Change in net unrealized gains and losses on investments 8,376 1,759 6,617 (25,188) (5,290) (19,898) Reclassification adjustments for realized gains and losses on investments 116 24 92 (234) (49) (185) 8,492 1,783 6,709 (25,422) (5,339) (20,083) Foreign currency translation adjustments 710 112 598 976 356 620 Other comprehensive income (loss) 9,202 1,895 7,307 (24,446) (4,983) (19,463)

Interim financial statements (P

Interim financial statements (Policies)	3 Months Ended
	Mar. 31, 2023
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 the United States (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% to 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 c urrent operating cash flow. Included in investments in debt and equity securities are statutory reserve funds of approximately $541.6 million and $544.0 million at March 31, 2023 and December 31, 2022, respectively. In addition, included within cash and cash equivalents are statutory reserve funds of approximately $10.3 million a nd $8.6 million at March 31, 2023 and December 31, 2022, 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.
Fair value measurements	Fair value measurements. Fair value is defined 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. Under U.S. GAAP, there is 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.

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Summary of operating revenues	The Company's operating revenues, summarized by type, are as follows: Three Months Ended 2023 2022 ($000 omitted) Title insurance premiums: Direct 130,817 205,562 Agency 249,021 404,145 Escrow fees 32,927 55,792 Real estate solutions and abstract fees 77,160 108,802 Other revenues 29,559 70,908 519,484 845,209

Investments in debt and equit_2

Investments in debt and equity securities (Tables)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Amortized costs and fair values	The amortized costs and fair values of investments in debt securities are as follows: March 31, 2023 December 31, 2022 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 26,619 26,487 30,104 29,835 Corporate 259,084 244,479 272,362 254,316 Foreign 318,408 306,885 315,184 299,137 U.S. Treasury Bonds 30,505 30,463 29,078 28,646 634,616 608,314 646,728 611,934 Proceeds from sales of investments in securities are as follows: Three Months Ended 2023 2022 ($000 omitted) Proceeds from sales of debt securities 7,446 17,280 Proceeds from sales of equity securities 19,326 370 Total proceeds from sales of investments in securities 26,772 17,650
Gross unrealized gains and losses	Gross unrealized gains and losses on investments in debt securities are as follows: March 31, 2023 December 31, 2022 Gains Losses Gains Losses ($000 omitted) Municipal 29 161 3 272 Corporate 815 15,420 489 18,535 Foreign 1,034 12,557 165 16,212 U.S. Treasury Bonds 129 171 21 453 2,007 28,309 678 35,472
Debt securities according to contractual terms	Debt securities as of March 31, 2023 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 63,817 63,214 After one year through five years 380,826 363,161 After five years through ten years 174,554 168,393 After ten years 15,419 13,546 634,616 608,314
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 March 31, 2023, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 89 16,879 72 2,850 161 19,729 Corporate 3,944 111,914 11,476 115,713 15,420 227,627 Foreign 539 33,353 12,018 220,333 12,557 253,686 U.S. Treasury Bonds 96 14,094 75 1,284 171 15,378 4,668 176,240 23,641 340,180 28,309 516,420 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, 2022, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 262 27,491 10 67 272 27,558 Corporate 12,935 193,239 5,600 44,342 18,535 237,581 Foreign 7,608 186,221 8,604 101,294 16,212 287,515 U.S. Treasury Bonds 413 25,102 40 445 453 25,547 21,218 432,053 14,254 146,148 35,472 578,201

Fair value measurements (Tables

Fair value measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Financial instruments measured at fair value on recurring basis	As of March 31, 2023, 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 — 26,487 26,487 Corporate — 244,479 244,479 Foreign — 306,885 306,885 U.S. Treasury Bonds — 30,463 30,463 Equity securities 81,441 — 81,441 81,441 608,314 689,755 As of December 31, 2022, 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 — 29,835 29,835 Corporate — 254,316 254,316 Foreign — 299,137 299,137 U.S. Treasury Bonds — 28,646 28,646 Equity securities 98,149 — 98,149 98,149 611,934 710,083

Net realized and unrealized g_2

Net realized and unrealized gains (Tables)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Gross realized investment and other gains	Realized and unrealized gains and losses are detailed as follows: Three Months Ended 2023 2022 ($000 omitted) Realized gains 61 1,594 Realized losses (747) (168) Net unrealized investment (losses) gains recognized on equity securities still held at end of period (1,092) 2,659 (1,778) 4,085
Investments in equity securities still held	Investment gains and losses recognized related to investments in equity securities are as follows: Three Months Ended 2023 2022 ($000 omitted) Net investment (losses) gains recognized on equity securities during the period (1,756) 2,785 Less: Net realized (losses) gains on equity securities sold during the period (664) 126 Net unrealized investment (losses) gains recognized on equity securities still held at end of period (1,092) 2,659
Proceeds from sale of investments in securities	The amortized costs and fair values of investments in debt securities are as follows: March 31, 2023 December 31, 2022 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 26,619 26,487 30,104 29,835 Corporate 259,084 244,479 272,362 254,316 Foreign 318,408 306,885 315,184 299,137 U.S. Treasury Bonds 30,505 30,463 29,078 28,646 634,616 608,314 646,728 611,934 Proceeds from sales of investments in securities are as follows: Three Months Ended 2023 2022 ($000 omitted) Proceeds from sales of debt securities 7,446 17,280 Proceeds from sales of equity securities 19,326 370 Total proceeds from sales of investments in securities 26,772 17,650

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of goodwill	The summary of changes in goodwill is as follows: Title Real Estate Solutions Corporate and Other Total ($000 omitted) Balances at December 31, 2022 720,478 352,504 — 1,072,982 Acquisitions 3,674 18,000 — 21,674 Purchase accounting adjustments (250) — — (250) Balances at March 31, 2023 723,902 370,504 — 1,094,406

Estimated title losses (Tables)

Estimated title losses (Tables)	3 Months Ended
	Mar. 31, 2023
Loss Contingency [Abstract]
Summary of estimated title losses	A summary of estimated title losses for the three months ended March 31 is as follows: 2023 2022 ($000 omitted) Balances at January 1 549,448 549,614 Provisions: Current year 17,214 28,882 Previous policy years 460 339 Total provisions 17,674 29,221 Payments, net of recoveries: Current year (3,470) (3,192) Previous policy years (30,001) (17,070) Total payments, net of recoveries (33,471) (20,262) Effects of changes in foreign currency exchange rates (236) 2,145 Balances at March 31 533,415 560,718 Loss ratios as a percentage of title operating revenues: Current year provisions 3.8 % 4.0 % Total provisions 3.9 % 4.0 %

(Loss) earnings per share (Tabl

(Loss) earnings per share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Basic and diluted earnings (loss) per share	The calculation of the basic and diluted EPS is as follows: Three Months Ended 2023 2022 ($000 omitted, except per share) Numerator: Net (loss) income attributable to Stewart (8,190) 57,897 Denominator (000): Basic average shares outstanding 27,201 26,960 Average number of dilutive shares relating to options — 265 Average number of dilutive shares relating to grants of restricted units and shares — 219 Diluted average shares outstanding 27,201 27,444 Basic (loss) earnings per share attributable to Stewart (0.30) 2.15 Diluted (loss) earnings per share attributable to Stewart (0.30) 2.11

Segment information (Tables)

Segment information (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Selected statement of operations and income (loss) information related to segments	Selected statement of operations information related to these segments is as follows: Three Months Ended 2023 2022 ($000 omitted) Title segment: Revenues 461,645 729,359 Depreciation and amortization 8,104 6,141 (Loss) income before taxes and noncontrolling interest (664) 82,783 Real estate solutions segment: Revenues 62,625 89,391 Depreciation and amortization 6,300 6,796 Income before taxes 1,366 6,791 Corporate and other segment: Revenues 35 34,166 Depreciation and amortization 502 811 Loss before taxes (10,858) (9,963) Consolidated Stewart: Revenues 524,305 852,916 Depreciation and amortization 14,906 13,748 (Loss) income before taxes and noncontrolling interest (10,156) 79,611
Revenues generated in domestic and all international operations	Total revenues generated in the United States and all international operations are as follows: Three Months Ended 2023 2022 ($000 omitted) United States 497,531 809,204 International 26,774 43,712 524,305 852,916

Other comprehensive income (l_2

Other comprehensive income (loss) (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of changes in other comprehensive income (loss)	Changes in the balances of each component of other comprehensive income (loss) 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 and losses on investments: Change in net unrealized gains and losses on investments 8,376 1,759 6,617 (25,188) (5,290) (19,898) Reclassification adjustments for realized gains and losses on investments 116 24 92 (234) (49) (185) 8,492 1,783 6,709 (25,422) (5,339) (20,083) Foreign currency translation adjustments 710 112 598 976 356 620 Other comprehensive income (loss) 9,202 1,895 7,307 (24,446) (4,983) (19,463)

Interim financial statements -

Interim financial statements - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Investments restricted for statutory reserve funds	$ 541.6	$ 544
Restricted cash and cash equivalent	$ 10.3	$ 8.6

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Operating revenues	$ 519,484	$ 845,209
Direct
Disaggregation of Revenue [Line Items]
Operating revenues	130,817	205,562
Agency
Disaggregation of Revenue [Line Items]
Operating revenues	249,021	404,145
Escrow fees
Disaggregation of Revenue [Line Items]
Operating revenues	32,927	55,792
Real estate solutions and abstract fees
Disaggregation of Revenue [Line Items]
Operating revenues	77,160	108,802
Other revenues
Disaggregation of Revenue [Line Items]
Operating revenues	$ 29,559	$ 70,908

Investments in debt and equit_3

Investments in debt and equity securities - Additional Information (Details) $ in Millions	Mar. 31, 2023 USD ($) investment	Dec. 31, 2022 USD ($)
Investments, Debt and Equity Securities [Abstract]
Net unrealized investment (losses) gains on equity securities held | $	$ 13.4	$ 19.2
Number of investments in an unrealized loss position	321
Number of investments in an unrealized loss positions for more than 12 months	181

Investments in debt and equit_4

Investments in debt and equity securities - Amortized Costs and Fair Values (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized costs	$ 634,616	$ 646,728
Fair values	608,314	611,934
Municipal
Debt Securities, Available-for-sale [Line Items]
Amortized costs	26,619	30,104
Fair values	26,487	29,835
Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized costs	259,084	272,362
Fair values	244,479	254,316
Foreign
Debt Securities, Available-for-sale [Line Items]
Amortized costs	318,408	315,184
Fair values	306,885	299,137
U.S. Treasury Bonds
Debt Securities, Available-for-sale [Line Items]
Amortized costs	30,505	29,078
Fair values	$ 30,463	$ 28,646

Investments in debt and equit_5

Investments in debt and equity securities - Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Gains	$ 2,007	$ 678
Losses	28,309	35,472
Municipal
Debt Securities, Available-for-sale [Line Items]
Gains	29	3
Losses	161	272
Corporate
Debt Securities, Available-for-sale [Line Items]
Gains	815	489
Losses	15,420	18,535
Foreign
Debt Securities, Available-for-sale [Line Items]
Gains	1,034	165
Losses	12,557	16,212
U.S. Treasury Bonds
Debt Securities, Available-for-sale [Line Items]
Gains	129	21
Losses	$ 171	$ 453

Investments in debt and equit_6

Investments in debt and equity securities - Debt Securities According to Contractual Terms (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Amortized costs
In one year or less	$ 63,817
After one year through five years	380,826
After five years through ten years	174,554
After ten years	15,419
Amortized costs	634,616	$ 646,728
Fair values
In one year or less	63,214
After one year through five years	363,161
After five years through ten years	168,393
After ten years	13,546
Fair values	$ 608,314	$ 611,934

Investments in debt and equit_7

Investments in debt and equity securities - Gross Unrealized Losses on Investments and Fair Values of Related Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Losses
Less than 12 months	$ 4,668	$ 21,218
More than 12 months	23,641	14,254
Total	28,309	35,472
Fair values
Less than 12 months	176,240	432,053
More than 12 months	340,180	146,148
Total	516,420	578,201
Municipal
Losses
Less than 12 months	89	262
More than 12 months	72	10
Total	161	272
Fair values
Less than 12 months	16,879	27,491
More than 12 months	2,850	67
Total	19,729	27,558
Corporate
Losses
Less than 12 months	3,944	12,935
More than 12 months	11,476	5,600
Total	15,420	18,535
Fair values
Less than 12 months	111,914	193,239
More than 12 months	115,713	44,342
Total	227,627	237,581
Foreign
Losses
Less than 12 months	539	7,608
More than 12 months	12,018	8,604
Total	12,557	16,212
Fair values
Less than 12 months	33,353	186,221
More than 12 months	220,333	101,294
Total	253,686	287,515
U.S. Treasury Bonds
Losses
Less than 12 months	96	413
More than 12 months	75	40
Total	171	453
Fair values
Less than 12 months	14,094	25,102
More than 12 months	1,284	445
Total	$ 15,378	$ 25,547

Fair value measurements (Detail

Fair value measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (amortized cost of $634,616 and $646,728)	$ 608,314	$ 611,934
Equity securities	81,441	98,149
Investments in debt and equity securities	689,755	710,083
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	81,441	98,149
Investments in debt and equity securities	81,441	98,149
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	608,314	611,934
Municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (amortized cost of $634,616 and $646,728)	26,487	29,835
Municipal | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (amortized cost of $634,616 and $646,728)	0	0
Municipal | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (amortized cost of $634,616 and $646,728)	26,487	29,835
Corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (amortized cost of $634,616 and $646,728)	244,479	254,316
Corporate | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (amortized cost of $634,616 and $646,728)	0	0
Corporate | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (amortized cost of $634,616 and $646,728)	244,479	254,316
Foreign
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (amortized cost of $634,616 and $646,728)	306,885	299,137
Foreign | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (amortized cost of $634,616 and $646,728)	0	0
Foreign | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (amortized cost of $634,616 and $646,728)	306,885	299,137
U.S. Treasury Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (amortized cost of $634,616 and $646,728)	30,463	28,646
U.S. Treasury Bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (amortized cost of $634,616 and $646,728)	0	0
U.S. Treasury Bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (amortized cost of $634,616 and $646,728)	$ 30,463	$ 28,646

Net realized and unrealized g_3

Net realized and unrealized gains - Gross Realized and Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Realized gains	$ 61	$ 1,594
Realized losses	(747)	(168)
Net unrealized investment (losses) gains recognized on equity securities still held at end of period	(1,092)	2,659
Investment and other gains (losses) – net	$ (1,778)	$ 4,085

Net realized and unrealized g_4

Net realized and unrealized gains - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($)
Investments, Debt and Equity Securities [Abstract]
Gain on sale of title plant copy	$ 1

Net realized and unrealized g_5

Net realized and unrealized gains - Net Gains on Investments in Equity Securities Still Held (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Net investment (losses) gains recognized on equity securities during the period	$ (1,756)	$ 2,785
Less: Net realized (losses) gains on equity securities sold during the period	(664)	126
Net unrealized investment (losses) gains recognized on equity securities still held at end of period	$ (1,092)	$ 2,659

Net realized and unrealized g_6

Net realized and unrealized gains - Proceeds from the Sale of Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales of debt securities	$ 7,446	$ 17,280
Proceeds from sales of equity securities	19,326	370
Total proceeds from sales of investments in securities	$ 26,772	$ 17,650

Goodwill (Details)

Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Goodwill [Roll Forward]
Beginning balances	$ 1,072,982
Acquisitions	21,674
Purchase accounting adjustments	(250)
Ending balance	1,094,406
Title
Goodwill [Roll Forward]
Beginning balances	720,478
Acquisitions	3,674
Purchase accounting adjustments	(250)
Ending balance	723,902
Real Estate Solutions
Goodwill [Roll Forward]
Beginning balances	352,504
Acquisitions	18,000
Purchase accounting adjustments	0
Ending balance	370,504
Corporate and Other
Goodwill [Roll Forward]
Beginning balances	0
Acquisitions	0
Purchase accounting adjustments	0
Ending balance	$ 0

Estimated title losses (Details

Estimated title losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balances at beginning of period	$ 549,448	$ 549,614
Provisions:
Current year	17,214	28,882
Previous policy years	460	339
Total provisions	17,674	29,221
Payments, net of recoveries:
Current year	(3,470)	(3,192)
Previous policy years	(30,001)	(17,070)
Total payments, net of recoveries	(33,471)	(20,262)
Effects of changes in foreign currency exchange rates	(236)	2,145
Balances at end of period	$ 533,415	$ 560,718
Loss ratios as a percentage of title operating revenues:
Current year provisions	3.80%	4%
Total provisions	3.90%	4%

Share-based payments (Details)

Share-based payments (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Time-based 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
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Stock options | First anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	20%
Stock options | Second anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	30%
Stock options | Third anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	50%
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair value at grant date	$ 11.4	$ 10.5
Granted (in shares)	278,000	163,000
Average grant price (in usd per share)	$ 40.93	$ 64.43

(Loss) earnings per share (Deta

(Loss) earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net (loss) income attributable to Stewart	$ (8,190)	$ 57,897
Denominator (000):
Basic average shares outstanding (in shares)	27,201	26,960
Diluted average shares outstanding (in shares)	27,201	27,444
Basic (loss) earnings per share attributable to Stewart (in usd per share)	$ (0.30)	$ 2.15
Diluted (loss) earnings per share attributable to Stewart (in usd per share)	$ (0.30)	$ 2.11
Stock options
Denominator (000):
Average number of dilutive shares relating to options and grants of restricted shares and units (in shares)	0	265
Restricted stock and restricted stock units
Denominator (000):
Average number of dilutive shares relating to options and grants of restricted shares and units (in shares)	0	219

Contingent liabilities and co_2

Contingent liabilities and commitments (Details) $ in Millions	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Guarantee of indebtedness, relating to unused letters of credit	$ 4.9

Segment information - Additiona

Segment information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022 segment
Segment Reporting [Abstract]
Number of operating segments	3

Segment information - Selected

Segment information - Selected Statement of Operations and Income (Loss) Information Related to Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Revenues	$ 524,305	$ 852,916
Depreciation and amortization	14,906	13,748
Loss before taxes	(10,156)	79,611
Title segment
Segment Reporting Information [Line Items]
Revenues	461,645	729,359
Depreciation and amortization	8,104	6,141
Loss before taxes	(664)	82,783
Real estate solutions and abstract fees
Segment Reporting Information [Line Items]
Revenues	62,625	89,391
Depreciation and amortization	6,300	6,796
Loss before taxes	1,366	6,791
Corporate and Other
Segment Reporting Information [Line Items]
Revenues	35	34,166
Depreciation and amortization	502	811
Loss before taxes	$ (10,858)	$ (9,963)

Segment information - Revenues

Segment information - Revenues Generated in Domestic and Foreign Country (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 524,305	$ 852,916
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	497,531	809,204
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 26,774	$ 43,712

Other comprehensive income (l_3

Other comprehensive income (loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Before-Tax Amount
Other comprehensive income (loss)	$ 9,202	$ (24,446)
Tax Expense (Benefit)
Other comprehensive income (loss)	1,895	(4,983)
Net-of-Tax Amount
Other comprehensive income (loss)	7,307	(19,463)
Net unrealized gains and losses on investments
Before-Tax Amount
Change in net unrealized gains and losses on investments	8,376	(25,188)
Reclassification adjustments for realized gains and losses on investments	116	(234)
Other comprehensive income (loss)	8,492	(25,422)
Tax Expense (Benefit)
Change in net unrealized gains and losses on investments	1,759	(5,290)
Reclassification adjustments for realized gains and losses on investments	24	(49)
Other comprehensive income (loss)	1,783	(5,339)
Net-of-Tax Amount
Change in net unrealized gains and losses on investments	6,617	(19,898)
Reclassification adjustments for realized gains and losses on investments	92	(185)
Other comprehensive income (loss)	6,709	(20,083)
Foreign currency translation adjustments
Before-Tax Amount
Other comprehensive income (loss)	710	976
Tax Expense (Benefit)
Other comprehensive income (loss)	112	356
Net-of-Tax Amount
Other comprehensive income (loss)	$ 598	$ 620