Stewart Information Services (STC) 10-K 28 Feb 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Feb. 16, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 1.1
Entity Common Stock, Shares Outstanding		27,464,157
Documents Incorporated by Reference	Portions of the definitive proxy statement (the Proxy Statement), in connection with the Registrant's 2024 Annual Meeting of Stockholders, are incorporated herein by reference in Part III of this document.
Entity Central Index Key	0000094344
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Auditor Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Houston, Texas
Auditor Firm ID	185

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Operating revenues	$ 2,212,240	$ 3,048,351	$ 3,264,616
Investment income	45,135	22,421	16,855
Net realized and unrealized (losses) gains	(34)	(1,476)	24,321
Revenues	2,257,341	3,069,296	3,305,792
Expenses
Amounts retained by agencies	813,519	1,208,307	1,300,431
Employee costs	712,794	802,001	776,968
Other operating expenses	507,701	648,022	626,762
Title losses and related claims	80,282	102,733	126,243
Depreciation and amortization	62,447	57,178	36,386
Interest	19,737	18,403	5,031
Total expenses	2,196,480	2,836,644	2,871,821
Income before taxes and noncontrolling interests	60,861	232,652	433,971
Income tax expense	(15,263)	(50,864)	(93,989)
Net income	45,598	181,788	339,982
Less net income attributable to noncontrolling interests	15,159	19,483	16,766
Net income attributable to Stewart	30,439	162,305	323,216
Net income attributable to Stewart
Net income	45,598	181,788	339,982
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustments	5,277	(14,939)	(679)
Change in net unrealized gains and losses on investments	10,461	(35,416)	(13,650)
Reclassification adjustment for realized gains and losses on investments	390	(1,241)	(2,440)
Other comprehensive income (loss), net of taxes	16,128	(51,596)	(16,769)
Comprehensive income	61,726	130,192	323,213
Less comprehensive income attributable to noncontrolling interests	15,159	19,483	16,766
Comprehensive income attributable to Stewart	$ 46,567	$ 110,709	$ 306,447
Basic average shares outstanding (in shares)	27,293	27,055	26,822
Basic earnings per share attributable to Stewart (in usd per share)	$ 1.12	$ 6	$ 12.05
Diluted average shares outstanding (in shares)	27,520	27,347	27,168
Diluted earnings per share attributable to Stewart (in usd per share)	$ 1.11	$ 5.94	$ 11.90
Direct operations
Revenues
Operating revenues	$ 962,674	$ 1,246,258	$ 1,390,921
Agency operations
Revenues
Operating revenues	985,989	1,466,243	1,582,640
Real estate solutions and other
Revenues
Operating revenues	$ 263,577	$ 335,850	$ 291,055

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 233,365	$ 248,367
Short-term investments	39,023	24,318
Investments in debt and equity securities, at fair value:
Debt securities (amortized cost of $631,294 and $646,728, respectively)	610,236	611,934
Equity securities	69,700	98,149
Investments in debt and equity securities, at fair value	679,936	710,083
Receivables:
Premiums from agencies	38,676	39,921
Trade and other	75,706	67,348
Income taxes	3,535	10,281
Notes	14,570	7,482
Allowance for credit losses	(7,583)	(7,309)
Total receivables	124,904	117,723
Property and equipment, at cost:
Land	2,545	2,545
Buildings	19,219	18,761
Furniture and equipment	234,370	213,707
Accumulated depreciation	(173,799)	(153,474)
Total property and equipment, at cost	82,335	81,539
Operating lease assets	115,879	127,830
Title plants, at cost	73,359	73,358
Investments in investees, on an equity method basis	4,220	4,575
Goodwill	1,072,129	1,072,982
Intangible assets, net of amortization	193,196	199,084
Deferred tax assets, net	3,776	2,590
Other assets	80,739	75,430
Total assets	2,702,861	2,737,879
Liabilities
Notes payable	445,290	447,006
Accounts payable and accrued liabilities	190,054	196,541
Operating lease liabilities	135,654	148,003
Estimated title losses	528,269	549,448
Deferred tax liabilities, net	25,045	26,616
Total liabilities	1,324,312	1,367,614
Contingent liabilities and commitments
Stockholders’ equity
Common Stock – $1 par, authorized 51,500,000; issued 27,722,388 and 27,482,573; outstanding 27,370,227 and 27,130,412, respectively	27,723	27,483
Additional paid-in capital	310,728	296,861
Retained earnings	1,070,841	1,091,816
Accumulated other comprehensive loss:
Foreign currency translation adjustments	(18,579)	(23,856)
Net unrealized losses on debt securities investments	(16,636)	(27,487)
Treasury stock – 352,161 common shares, at cost, for both 2023 and 2022 (including 145,820 shares held by a subsidiary)	(2,666)	(2,666)
Total stockholders’ equity	1,371,411	1,362,151
Noncontrolling interests	7,138	8,114
Total stockholders’ equity	1,378,549	1,370,265
Total liabilities and stockholders' equity	$ 2,702,861	$ 2,737,879

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Amortized cost	$ 631,294	$ 646,728
Common stock, par value (in usd per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	51,500,000	51,500,000
Common stock, shares issued (in shares)	27,722,388	27,482,573
Common stock, shares outstanding (in shares)	27,370,227	27,130,412
Subsidiary, Sale of Stock [Line Items]
Treasury stock, common shares (in shares)	352,161	352,161
Subsidiary
Subsidiary, Sale of Stock [Line Items]
Treasury stock, common shares (in shares)	145,820	145,820

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of net income to cash provided by operating activities:
Net income	$ 45,598	$ 181,788	$ 339,982
Adjustments for:
Depreciation and amortization	62,447	57,178	36,386
Provision for credit losses on receivables	2,425	824	3,023
Net realized and unrealized losses (gains)	34	1,476	(24,321)
Amortization of net premium on debt securities investments	486	2,162	3,624
Payments for title losses (in excess of) less than provisions	(24,035)	9,635	54,744
Adjustments for insurance recoveries of title losses	(208)	220	(220)
(Increase) decrease in receivables – net	(5,355)	10,154	(18,822)
Decrease (increase) in other assets – net	3,178	2,503	(5,931)
Decrease in payables and accrued liabilities – net	(6,432)	(87,502)	(22,316)
Change in net deferred income taxes	(6,772)	293	12,721
Net income from equity investees	(1,071)	(3,257)	(9,488)
Dividends received from equity investees	1,408	3,659	9,180
Stock-based compensation expense	10,920	12,282	11,966
Other – net	419	445	(237)
Cash provided by operating activities	83,042	191,860	390,291
Investing activities:
Proceeds from sales of investments in securities	60,457	66,695	69,293
Proceeds from matured investments in debt securities	71,753	37,089	74,528
Purchases of investments in securities	(78,017)	(207,512)	(143,925)
Net (purchases) sales of short-term investments	(14,275)	(7,220)	2,358
Purchases of property and equipment	(37,791)	(47,948)	(39,799)
Proceeds from the sale of property and equipment, and other assets	1,057	644	10,682
Net cash paid for acquisition of businesses	(25,100)	(142,859)	(599,984)
Other – net	(8,053)	446	(18,429)
Cash used by investing activities	(29,969)	(300,665)	(645,276)
Financing activities:
Proceeds from notes payable	3,538	39,499	1,197,351
Payments on notes payable	(5,776)	(76,486)	(809,816)
Purchase of remaining interest of consolidated subsidiaries	0	(3,838)	(5,616)
Cash dividends paid	(50,523)	(44,672)	(36,637)
Distributions to noncontrolling interests	(16,135)	(20,640)	(16,407)
Payment of acquisition contingent consideration	(3,390)	(19,764)	(11,560)
Repurchases of Common Stock	(1,783)	(3,262)	(2,252)
Proceeds from stock option and employee stock purchase plan exercises	4,970	5,828	2,715
Other - net	0	115	(7,404)
Cash (used) provided by financing activities	(69,099)	(123,220)	310,374
Effects of changes in foreign currency exchange rates	1,024	(5,527)	(2,153)
(Decrease) increase in cash and cash equivalents	(15,002)	(237,552)	53,236
Cash and cash equivalents at beginning of year	248,367	485,919	432,683
Cash and cash equivalents at end of year	233,365	248,367	485,919
Net changes in financial statement amounts due to acquisition of businesses and purchase accounting adjustments:
Goodwill (adjusted) acquired	(706)	149,436	493,383
Intangible assets acquired	28,710	12,621	211,591
Receivables and other assets acquired	296	8,038	5,316
Fixed assets and title plants (adjusted) acquired	(225)	669	14,277
Liabilities recognized	(2,975)	(27,760)	(102,047)
Deferred tax liabilities, net recognized	0	0	(16,587)
Noncontrolling interests recognized	0	(145)	(5,949)
Net cash paid for acquisition of businesses	25,100	142,859	599,984
Income taxes paid, net	5,345	60,088	106,101
Interest paid	$ 17,169	$ 17,398	$ 2,828

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common  Stock	Additional paid-in capital	Accumulated other comprehensive (loss) income	Retained Earnings	Treasury stock	Noncontrolling interests
Beginning balance at Dec. 31, 2020	$ 1,012,406	$ 27,080	$ 274,857	$ 17,022	$ 688,819	$ (2,666)	$ 7,294
Increase (Decrease) in Stockholders' Equity
Net income	323,216				323,216
Dividends on Common Stock	(37,235)				(37,235)
Stock-based compensation	11,966	144	11,822
Stock option and employee stock purchase plan exercises	2,715	64	2,651
Stock repurchases	(2,252)	(42)	(2,210)
Purchase of remaining interest of consolidated subsidiary	(5,616)		(4,744)				(872)
Change in net unrealized gains and losses on investments, net of taxes	(13,650)			(13,650)
Reclassification adjustment for realized gains and losses on investments, net of taxes	(2,440)			(2,440)
Foreign currency translation adjustments (net of tax)	(679)			(679)
Net income attributable to noncontrolling interests	16,766						16,766
Distributions to noncontrolling interests	(16,407)						(16,407)
Net effect of changes in ownership and other	5,945						5,945
Ending balance at Dec. 31, 2021	1,294,735	27,246	282,376	253	974,800	(2,666)	12,726
Increase (Decrease) in Stockholders' Equity
Net income	162,305				162,305
Dividends on Common Stock	(45,289)				(45,289)
Stock-based compensation	12,282	164	12,118
Stock option and employee stock purchase plan exercises	5,828	124	5,704
Stock repurchases	(3,262)	(51)	(3,211)
Purchase of remaining interest of consolidated subsidiary	(3,838)		(126)				(3,712)
Change in net unrealized gains and losses on investments, net of taxes	(35,416)			(35,416)
Reclassification adjustment for realized gains and losses on investments, net of taxes	(1,241)			(1,241)
Foreign currency translation adjustments (net of tax)	(14,939)			(14,939)
Net income attributable to noncontrolling interests	19,483						19,483
Distributions to noncontrolling interests	(20,640)						(20,640)
Net effect of changes in ownership and other	257						257
Ending balance at Dec. 31, 2022	1,370,265	27,483	296,861	(51,343)	1,091,816	(2,666)	8,114
Increase (Decrease) in Stockholders' Equity
Net income	30,439				30,439
Dividends on Common Stock	(51,414)				(51,414)
Stock-based compensation	10,920	150	10,770
Stock option and employee stock purchase plan exercises	4,970	132	4,838
Stock repurchases	(1,783)	(42)	(1,741)
Change in net unrealized gains and losses on investments, net of taxes	10,461			10,461
Reclassification adjustment for realized gains and losses on investments, net of taxes	390			390
Foreign currency translation adjustments (net of tax)	5,277			5,277
Net income attributable to noncontrolling interests	15,159						15,159
Distributions to noncontrolling interests	(16,135)						(16,135)
Ending balance at Dec. 31, 2023	$ 1,378,549	$ 27,723	$ 310,728	$ (35,215)	$ 1,070,841	$ (2,666)	$ 7,138

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends on common stock per share (in usd per share)	$ 1.85	$ 1.65	$ 1.37

General

General	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
General	General. Stewart Information Services Corporation, through its subsidiaries (collectively, the Company), is primarily engaged in the business of providing title insurance and real estate transaction related services. The Company is a global real estate services company, offering products and services through its direct operations, network of independent agencies and other businesses within the Company. The Company provides its title products and services to homebuyers and sellers; residential and commercial real estate professionals; mortgage lenders and servicers; title agencies and real estate attorneys; and home builders. The Company also provides appraisal management services, online notarization and closing services, credit and real estate information services, and search and valuation services (referred to as real estate solutions services). The Company operates in the United States (U.S.) and internationally, primarily in Canada, the United Kingdom and Australia. Approximately 50% of consolidated title revenues for the year ended December 31, 2023 were generated in Texas, New York, Ohio, California, Florida, Pennsylvania and international markets (principally Canada). A. Management’s responsibility. The accompanying consolidated financial statements were prepared by management, who is responsible for their integrity and objectivity. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP), including management’s best judgments and estimates. Actual results could differ from those estimates. B. Consolidation. The 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 20% through 50% of the entity, are accounted for using the equity method. C. Statutory accounting. Stewart Title Guaranty Company (Guaranty) and other title insurance underwriters owned by the Company prepare financial statements in accordance with statutory accounting practices prescribed or permitted by regulatory authorities. In conforming the statutory financial statements to GAAP, statutory premium reserves and reserves for known title losses are eliminated and, in substitution, amounts are established for estimated title losses (Note 1-E), for which the net effect, after providing for income taxes, is included in the consolidated statements of income and comprehensive income. Additionally, investments in debt securities, which are carried at amortized cost for statutory accounting, are reported at fair value and the net unrealized gains and losses, net of applicable deferred taxes, on the investments are included as a component of accumulated other comprehensive income (loss) (AOCI) within stockholders’ equity. D. Revenues. Direct premiums - Premiums from title insurance policies directly issued or issued by affiliate offices are recognized at the time of the closing of the related real estate transaction. Agency premiums - Premiums from title insurance policies written by independent agencies are recognized when the policies are reported to the Company. In addition, where reasonable estimates can be made, the Company accrues for policies issued but not reported until after period end. The Company believes that reasonable estimates can be made when recent and consistent policy issuance information is available. Estimates are based on historical reporting patterns and other information obtained about independent agencies, as well as current trends in direct operations and in the title industry. In this accrual, future transactions are not being estimated. The Company is estimating revenues on policies that have already been issued by independent agencies but not yet reported to or received by the Company. Escrow fees - An escrow is a transaction pursuant to an agreement of a buyer, seller, borrower, or lender wherein an impartial third party, such as the Company, acts in a fiduciary capacity on behalf of the parties in accordance with the terms of such agreement in order to accomplish the directions stated therein. Services provided include, among others, acting as escrow or other fiduciary agent, obtaining releases, and conducting the actual closing or settlement. Escrow fees are recognized upon closing of the escrow, which is generally at the same time of the closing of the related real estate transaction. Real estate solutions and abstract fees revenues - These revenues consist primarily of revenues from appraisal management services, online notarization and closing services, credit and real estate information services, and abstract services. Appraisal management and abstract services are primarily related to establishing the ownership, legal status and valuation of the property in a real estate transaction. In these cases, the Company does not issue a title insurance policy or perform duties of an escrow agent. Online notarization and closing services provide customers with streamlined, secure and paperless experience for notarization, signing and closing transactions. Respectively, credit and real estate information services provide customers with credit data-driven solutions that facilitate an efficient loan origination process, and comprehensive and real-time property data that benefits various real estate market stakeholders. Revenues from these services are recognized upon delivery of the service to the customer. Other revenues - These revenues consist primarily of fees related to tax-deferred property exchange services, income from equity investees, and other title settlement-related services. For those products and services that are delivered at a point in time, the related revenue is recognized upon delivery based on the unit price of the product or service. For those products and services where delivery occurs over time, the related revenue is recognized ratably over the duration of the subscription. Refer to Note 17 and Note 18 for the breakdown of the Company's operating revenues by type and by segment, respectively. E. Title losses and related claims. The Company's liability for estimated title losses comprises estimates of both known claims and incurred but unreported claims expected to be paid in the future for policies issued as of the balance sheet date. This liability represents the aggregate future payments, net of recoveries, that the Company expects to make related to policy claims. The Company’s method for recording reserves for title losses on both an interim and annual basis begins with the calculation of its current loss provision rate, which is applied to the Company’s current premiums resulting in a title loss expense for the period, except for large claims and escrow losses. This loss provision rate is set to provide for estimated losses on current year policies and is determined using moving average ratios of recent actual policy loss payment experience (net of recoveries) to premium revenues. At each quarter end, the Company’s recorded reserve for title losses is based on the prior period’s reserve balance for claim losses, increased by the current period provision and reduced by actual paid claims. The resulting reserve balance is compared by management to its actuarially-based calculation of the ending reserve balance necessary to provide for future reported title losses. The actuarially-based calculation is a paid loss development calculation where loss development factors are selected based on Company data and input from the Company’s third-party actuaries. Semi-annually, the Company also obtains input from third-party actuaries in the form of a reserve analysis utilizing generally accepted actuarial methods. While the Company is responsible for determining its loss reserves, it utilizes this actuarial input to assess the overall reasonableness of its reserve estimation. If the Company’s r ecorded reserve amount is not at the third-party actuarial point estimate, but is within a reasonable range (+7.0%/-4.0%) of its actuarially-based reserve calculation and the actuary’s point estimate, the Company’s management assesses th e major factors contributing to the different reserve estimates in order to determine the overall reasonableness of its recorded reserve, as well as the position of the recorded reserves relative to the point estimate and the estimated range of reserves. The major factors considered can change from period to period and include items such as current trends in the real estate industry (which management can assess although there is a time lag in the development of this data for use by the actuary), the size and types of claims reported and changes in the Company’s claims management process. If the recorded amount is not within a reasonable range of the Company’s third-party actuary’s point estimate, the Company will adjust the recorded reserves in the current period and reassess the provision rate on a prospective basis. Once the Company’s reserve for title losses is recorded, it is reduced in future periods as a result of claims payments and may be increased or reduced by revisions to the Company’s estimate of the overall level of required reserves. Large claims (those exceeding $1.0 million on a single claim), including large title losses due to independent agency defalcations, are analyzed and reserved for separately due to the higher dollar amount of loss, lower volume of claims reported and sporadic reporting of such claims. Due to the inherent uncertainty in predicting future title policy losses, significant judgment is required by both the Company’s management and its third-party actuaries in estimating reserves. As a consequence, the Company’s ultimate liability may be materially greater or less than its current reserves and/or its third-party actuary’s calculated estimate. F. Cash equivalents. Cash equivalents are highly liquid investments with insignificant interest rate risks and maturities of three months or less at the time of acquisition. G. Short-term investments. Short-term investments comprise time deposits with banks, federal government obligations and other investments maturing in less than one year. H. Investments in debt and equity securities. Investments in debt and equity securities are carried at fair value. Investments in debt securities are classified as available-for-sale and the net unrealized gains and losses on such investments, net of applicable deferred taxes, are included as a component of AOCI within stockholders' equity. Realized gains and losses on sales of investments are determined using the specific identification method. At the time unrealized gains and losses become realized, they are reclassified from AOCI using the specific identification method. Credit losses related to investments in debt securities are recognized through an allowance account, which is charged through income but may be reversed in future periods if no longer required. Fair value changes relating to investments in equity securities are recognized as part of net realized and unrealized gains and losses in the consolidated statements of income and comprehensive income. I. Property and equipment. Depreciation is principally computed using the straight-line method using the following estimated useful lives: buildings – 30 to 40 years and furniture and equipment – 3 to 5 years. Maintenance and repairs are expensed as incurred while improvements are capitalized. Gains and losses are recognized at disposal. J. Title plants. Title plants include compilations of a county’s official land records, prior title examination files, copies of prior title policies, maps and related materials that are geographically indexed to a specific property. The costs of acquiring existing title plants and creating new ones, prior to the time such plants are placed in operation, are capitalized. Title plants are not amortized since there is no indication of any loss of value over time but are subject to review for impairment. The costs of maintaining and operating title plants are expensed as incurred. Gains and losses on sales of copies of title plants or interests in title plants are recognized at the time of sale. K. Impairment of long-lived assets. The Company reviews the carrying values of title plants and other long-lived assets if certain events occur that may indicate impairment. An impairment of these long-lived assets is indicated when, at the asset group level, projected undiscounted cash flows over the estimated lives of the assets are less than carrying values. If impairment is indicated, the recorded amounts are written down to fair values and charged to current operations. L. Goodwill. Goodwill is not amortized, but is reviewed annually during the third quarter using June 30 balances, and whenever occurrences of events indicate a potential impairment at the reporting unit level. The Company evaluates goodwill based on four reporting units with goodwill balances - direct operations, agency operations, international operations and real estate solutions. Under GAAP, the Company has an option to assess qualitative factors to determine whether it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. In performing the qualitative assessment, the Company considers factors that include macroeconomic conditions, industry and market considerations, overall actual and expected financial performance, market perspective on the Company, as well as other relevant events and circumstances determined by management. The Company evaluates the weight of each factor to determine whether an impairment more-likely-than-not exists. If the Company decides not to use a qualitative assessment or if the reporting unit fails the qualitative assessment, the quantitative impairment analysis is performed. The quantitative analysis involves the comparison of the fair value of each reporting unit to its carrying amount. Goodwill impairment, if any, is calculated as the excess of the reporting unit's carrying amount over the estimated fair value and is charged to current operations. While the Company is responsible for assessing whether an impairment of goodwill exists, inputs from third-party appraisers are utilized in performing the quantitative analysis. The Company estimates the fair value using a combination of the income approach (discounted cash flow (DCF) technique) and the market approach (guideline public company method and, where available, precedent transaction analyses). The DCF model utilizes historical and projected operating results and cash flows, initially driven by estimates of changes in future revenue levels, and risk-adjusted discount rates. Projected operating results are primarily driven by internal operating budgets and anticipated mortgage originations, which are obtained from projections by industry experts, for the title reporting units and expected contractual revenues for the real estate solutions reporting unit. Fluctuations in revenues, followed by the ability to appropriately adjust employee count and other operating expenses, or large and unanticipated adjustments to title loss reserves, are the primary reasons for increases or decreases in the projected operating results. Market-based valuation methodologies utilize (i) market multiples of earnings and/or other operating metrics of comparable companies and (ii) the Company's market capitalization and a control premium based on market data. Due to the uncertainty and complexity of performing the goodwill impairment analysis, future actual results related to market conditions, the Company's business operations and other inputs to the analysis may be worse than estimated or assumed. In such cases, the Company may be exposed to future material impairments of goodwill. Goodwill is assigned to the reporting units at the time the goodwill is initially recorded. Once assigned to a reporting unit, the goodwill is pooled and no longer attributable to a specific acquisition. All activities within a reporting unit are available to support the carrying value of the goodwill. When a business component within a reporting unit is disposed, goodwill is allocated to the component based on the ratio of the component's fair value over the total fair value of the reporting unit. For its annual goodwill impairment test, the Company utilized the quantitative approach in 2023 and 2022, and determined that goodwill related to each of its reporting units was not impaired. M. Other intangibles. Other intangible assets are comprised principally of customer relationships, acquired technology, acquired trademarks, non-compete agreements and underwriting agreements. Intangible assets are amortized over their estimated lives: 10 to 20 years for customer relationships, 5 to 7 years for acquired technology, 3 years to indefinite for acquired trademarks, 3 years for non-compete agreements and 5 to 25 years for underwriting agreements. These intangible assets are reviewed for impairment when certain events or changes in circumstances occur that indicate that the carrying amount of an asset may not be recoverable - refer to Note 1-K. N. Fair values. The fair values of financial instruments, including cash and cash equivalents, short-term investments, notes receivable, notes payable and accounts payable, are determined by 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. The net fair values of these financial instruments approximate their carrying values. Investments in debt and equity securities and certain financial instruments are carried at their fair values. O. 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 notes payable 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 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 consolidated balance sheet. P. Income taxes. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the tax basis and the book carrying values of certain assets and liabilities. To the extent that the Company does not believe its deferred tax assets meet the more-likely-than-not realization criteria, it establishes a valuation allowance. When it establishes a valuation allowance, or increases (decreases) the allowance during the year, it records a tax expense (benefit) in its consolidated statements of operations and comprehensive income (loss). Enacted tax rates are used in calculating amounts. The Company provides for uncertainties in income taxes by prescribing a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Interest and penalties, if any, are included in income tax expense. Q. Business combinations. Amounts paid for acquisitions are allocated to the tangible and intangible assets acquired and liabilities assumed and are based on their estimated fair values at the date of acquisition. The excess of the fair value of the purchase consideration over the fair values of the identifiable assets and liabilities is recorded as goodwill. Acquisition-related costs are expensed in the periods in which the costs are incurred. The results of operations of acquired businesses are included in the consolidated financial statements from the date of acquisition. If the initial purchase accounting for an acquisition is incomplete by the end of the reporting period in which the acquisition occurred, provisional amounts are recorded. The measurement period for an acquisition ends the sooner of one year from the acquisition date or when management obtains acquisition-date information necessary to complete the purchase accounting. Adjustments to provisional amounts initially recorded are recognized in the reporting period in which the adjustment amounts are determined.

Restrictions on cash and invest

Restrictions on cash and investments	12 Months Ended
	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Restrictions on cash and investments	Restrictions on cash and investments. The Company maintains investments in accordance with certain statutory requirements in the states of domicile of our underwriters 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 $527.4 million and $544.0 million at December 31, 2023 and 2022, respectively. In addition, included within cash and cash equivalents are statutory reserve funds of approximately $10.0 million and $8.6 million at December 31, 2023 and 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. A substantial majority of consolidated cash and investments at each year end was held by the Company’s title insurance subsidiaries. Generally, the types of investments a title insurer can make are subject to legal restrictions. Furthermore, the transfer of funds by a title insurer to its parent or subsidiary operations, as well as other related party transactions, is restricted by law and generally requires the approval of state insurance authorities (see Note 3 ).

Statutory surplus and dividend

Statutory surplus and dividend restrictions	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Statutory surplus and dividend restrictions	Statutory surplus and dividend restrictions. A substantial portion of the consolidated retained earnings at each year end was related to Guaranty, which owns a majority of all the subsidiaries included in the consolidation. Guaranty cannot pay a dividend to its parent in excess of certain limits without the approval of the Texas Insurance Commissioner (TIC). Guaranty paid no dividends to its parent during 2023, while it paid $150.0 million in 2022. The maximum dividend that can be paid, on a rolling twelve-month period and subject to the timing of 2023 dividends paid, without the TIC's approval in 2024 is approximately $168.7 million, based on the greater of 2023 net operating income or 20% of statutory surplus as December 31, 2023. Dividends from Guaranty are also voluntarily restricted primarily to maintain statutory surplus and liquidity at competitive levels and to demonstrate significant claims payment ability. The ability of a title insurer to pay claims can significantly affect the decision of lenders and other customers when buying a policy from a particular insurer. Surplus as regards policyholders (total statutory capital and surplus) for Guaranty was $843.3 million and $790.4 million at December 31, 2023 and 2022, respectively. Statutory net income for Guaranty was $76.1 million, $144.9 million and $188.8 million in 2023, 2022 and 2021, respectively. The amount of statutory capital and surplus necessary to satisfy regulatory requirements for Guaranty was $2.0 million (and in the aggregate less than $2.0 million for all of the Company’s underwriter subsidiaries) at December 31, 2023, and each of its underwriter entities was in compliance with such requirements as of December 31, 2023.

Investments in debt and equity

Investments in debt and equity securities	12 Months Ended
	Dec. 31, 2023
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 as of December 31 are detailed below: 2023 2022 (in $ thousands) Investments in: Debt securities 610,236 611,934 Equity securities 69,700 98,149 679,936 710,083 As of December 31, 2023 a nd 2022, included in the above fair values of investments in equity securities were net unrealized investment gains of $11.2 million and $19.2 million, respectively. The amortized costs and fair values of investments in debt securities as of December 31, are as follows: 2023 2022 Amortized Fair Amortized Fair (in $ thousands) Municipal 22,201 22,031 30,104 29,835 Corporate 242,656 231,474 272,362 254,316 Foreign 332,723 323,391 315,184 299,137 U.S. Treasury Bonds 33,714 33,340 29,078 28,646 631,294 610,236 646,728 611,934 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. Foreign debt securities primarily include Canadian government and corporate bonds, with aggregate fair values of $282.4 million and $261.8 million as of December 31, 2023 and 2022, respectively, and United Kingdom treasury and corporate bonds with aggregate fair values of $31.7 million and $28.0 million as of December 31, 2023 and 2022, respectively. Gross unrealized gains and losses on investments in debt securities at December 31, were: 2023 2022 Gains Losses Gains Losses (in $ thousands) Municipal — 170 3 272 Corporate 764 11,946 489 18,535 Foreign 1,765 11,097 165 16,212 U.S. Treasury Bonds 106 480 21 453 2,635 23,693 678 35,472 Debt securities at December 31, 2023 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized Fair (in $ thousands) In one year or less 101,047 99,855 After one year through five years 344,370 330,077 After five years through ten years 173,408 168,804 After ten years 12,469 11,500 631,294 610,236 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, 2023, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values (in $ thousands) Municipal 50 13,022 120 8,383 170 21,405 Corporate 68 4,808 11,878 208,971 11,946 213,779 Foreign 472 31,918 10,625 216,135 11,097 248,053 U.S. Treasury Bonds 327 20,895 153 4,815 480 25,710 917 70,643 22,776 438,304 23,693 508,947 The number of specific debt securities investment holdings in an unrealized loss position as of December 31, 2023 was 321. Of these securities, 261 were in unrealized loss positions for more than 12 months. Gross unrealized investment losses at December 31, 2023 decreased compared to December 31, 2022, primarily due to the gradual market recovery influenced by the pause in government-initiated interest rate hikes during the second half of 2023 and expectations of future interest rate reductions. 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 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 (in $ thousands) 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 Investment income and net realized and unrealized gains. Investment income and net realized and unrealized gains for the years ended December 31 are detailed below: 2023 2022 2021 (in $ thousands) Investment income: Debt securities 16,274 14,483 13,313 Equity securities, short-term investments, cash equivalents and other 28,861 7,938 3,542 45,135 22,421 16,855 Net realized and unrealized (losses) gains: Realized gains 3,407 6,212 13,015 Realized losses (5,510) (5,142) (6,414) Net unrealized investment gains (losses) recognized on equity securities still held 2,069 (2,546) 17,720 (34) (1,476) 24,321 In 2023, net realized and unrealized losses included a $3.2 million contingent receivable loss adjustment related to a previous disposition of a business and $0.9 million of net gains resulting from contingent liability adjustments related to two title company acquisitions. Total investment income in 2023 was significantly higher compared to 2022 and 2021, primarily due to higher interest income resulting from earned interest from eligible escrow balances and increased interest rates in 2023. In 2022, net realized and unrealized losses included $2.6 million of gains from settlements of company-owned insurance policies, a $1.0 million gain from an acquisition contingent liability adjustment and a $1.0 million realized gain related to a sale of a title plant copy, partially offset by $3.6 million of realized losses from disposals of businesses. In 2021, net realized and unrealized gains included $6.1 million of net realized gains from sale of buildings and other fixed assets and $3.8 million of net gains from acquisition contingent liability adjustments, partially offset by $2.7 million of net realized losses related to disposals of equity method investments. Net investment gains and losses recognized for the years ended December 31 related to investments in equity securities are follows: 2023 2022 2021 (in $ thousands) Total net investment gains (losses) recognized on equity securities during the period 3,044 (2,151) 19,351 Less: Net realized gains on equity securities sold during the period 975 395 1,631 Net unrealized investment gains (losses) recognized on equity securities still held at December 31 2,069 (2,546) 17,720 Proceeds from sales of investments in securities for the years ended December 31 are as follows: 2023 2022 2021 (in $ thousands) Proceeds from sales of debt securities 21,909 65,827 68,450 Proceeds from sales of equity securities 38,548 868 843 Total proceeds from sales of investments in securities 60,457 66,695 69,293

Fair value measurements

Fair value measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements. Fair value is 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. U.S. GAAP 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. At December 31, 2023, financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Level 3 Fair value (in $ thousands) Investments in securities: Debt securities: Municipal — 22,031 — 22,031 Corporate — 231,474 — 231,474 Foreign — 323,391 — 323,391 U.S. Treasury Bonds — 33,340 — 33,340 Equity securities: 69,700 — — 69,700 69,700 610,236 — 679,936 At December 31, 2022, financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Level 3 Fair value (in $ thousands) 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 At December 31, 2023, 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 income and net reali

Investment income and net realized and unrealized gains	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investment income and net realized and unrealized gains	Investments in debt and equity securities. The total fair values of the Company's investments in debt and equity securities as of December 31 are detailed below: 2023 2022 (in $ thousands) Investments in: Debt securities 610,236 611,934 Equity securities 69,700 98,149 679,936 710,083 As of December 31, 2023 a nd 2022, included in the above fair values of investments in equity securities were net unrealized investment gains of $11.2 million and $19.2 million, respectively. The amortized costs and fair values of investments in debt securities as of December 31, are as follows: 2023 2022 Amortized Fair Amortized Fair (in $ thousands) Municipal 22,201 22,031 30,104 29,835 Corporate 242,656 231,474 272,362 254,316 Foreign 332,723 323,391 315,184 299,137 U.S. Treasury Bonds 33,714 33,340 29,078 28,646 631,294 610,236 646,728 611,934 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. Foreign debt securities primarily include Canadian government and corporate bonds, with aggregate fair values of $282.4 million and $261.8 million as of December 31, 2023 and 2022, respectively, and United Kingdom treasury and corporate bonds with aggregate fair values of $31.7 million and $28.0 million as of December 31, 2023 and 2022, respectively. Gross unrealized gains and losses on investments in debt securities at December 31, were: 2023 2022 Gains Losses Gains Losses (in $ thousands) Municipal — 170 3 272 Corporate 764 11,946 489 18,535 Foreign 1,765 11,097 165 16,212 U.S. Treasury Bonds 106 480 21 453 2,635 23,693 678 35,472 Debt securities at December 31, 2023 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized Fair (in $ thousands) In one year or less 101,047 99,855 After one year through five years 344,370 330,077 After five years through ten years 173,408 168,804 After ten years 12,469 11,500 631,294 610,236 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, 2023, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values (in $ thousands) Municipal 50 13,022 120 8,383 170 21,405 Corporate 68 4,808 11,878 208,971 11,946 213,779 Foreign 472 31,918 10,625 216,135 11,097 248,053 U.S. Treasury Bonds 327 20,895 153 4,815 480 25,710 917 70,643 22,776 438,304 23,693 508,947 The number of specific debt securities investment holdings in an unrealized loss position as of December 31, 2023 was 321. Of these securities, 261 were in unrealized loss positions for more than 12 months. Gross unrealized investment losses at December 31, 2023 decreased compared to December 31, 2022, primarily due to the gradual market recovery influenced by the pause in government-initiated interest rate hikes during the second half of 2023 and expectations of future interest rate reductions. 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 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 (in $ thousands) 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 Investment income and net realized and unrealized gains. Investment income and net realized and unrealized gains for the years ended December 31 are detailed below: 2023 2022 2021 (in $ thousands) Investment income: Debt securities 16,274 14,483 13,313 Equity securities, short-term investments, cash equivalents and other 28,861 7,938 3,542 45,135 22,421 16,855 Net realized and unrealized (losses) gains: Realized gains 3,407 6,212 13,015 Realized losses (5,510) (5,142) (6,414) Net unrealized investment gains (losses) recognized on equity securities still held 2,069 (2,546) 17,720 (34) (1,476) 24,321 In 2023, net realized and unrealized losses included a $3.2 million contingent receivable loss adjustment related to a previous disposition of a business and $0.9 million of net gains resulting from contingent liability adjustments related to two title company acquisitions. Total investment income in 2023 was significantly higher compared to 2022 and 2021, primarily due to higher interest income resulting from earned interest from eligible escrow balances and increased interest rates in 2023. In 2022, net realized and unrealized losses included $2.6 million of gains from settlements of company-owned insurance policies, a $1.0 million gain from an acquisition contingent liability adjustment and a $1.0 million realized gain related to a sale of a title plant copy, partially offset by $3.6 million of realized losses from disposals of businesses. In 2021, net realized and unrealized gains included $6.1 million of net realized gains from sale of buildings and other fixed assets and $3.8 million of net gains from acquisition contingent liability adjustments, partially offset by $2.7 million of net realized losses related to disposals of equity method investments. Net investment gains and losses recognized for the years ended December 31 related to investments in equity securities are follows: 2023 2022 2021 (in $ thousands) Total net investment gains (losses) recognized on equity securities during the period 3,044 (2,151) 19,351 Less: Net realized gains on equity securities sold during the period 975 395 1,631 Net unrealized investment gains (losses) recognized on equity securities still held at December 31 2,069 (2,546) 17,720 Proceeds from sales of investments in securities for the years ended December 31 are as follows: 2023 2022 2021 (in $ thousands) Proceeds from sales of debt securities 21,909 65,827 68,450 Proceeds from sales of equity securities 38,548 868 843 Total proceeds from sales of investments in securities 60,457 66,695 69,293

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income taxes	Income taxes. Income tax expense consists of the following: 2023 2022 2021 (in $ thousands) Current income tax expense: Federal 5,638 37,723 57,274 State 62 3,051 7,600 Foreign 16,347 9,797 16,508 22,047 50,571 81,382 Deferred income tax expense (benefit): Federal (1,919) (4,025) 13,175 State 107 254 2,197 Foreign (4,972) 4,064 (2,765) (6,784) 293 12,607 Total income tax expense 15,263 50,864 93,989 The following reconciles income tax expense computed at the federal statutory rate with income tax expense as reported (in $ thousands, except for income tax rates): 2023 2022 2021 Expected income tax expense at 21% (1) 9,597 44,766 87,613 Valuation allowance 6,222 1,569 (4,427) Nondeductible expenses 3,140 4,731 4,090 Foreign income tax rate differential 2,778 2,955 3,549 Return-to-provision and true-up adjustments (2,745) (1,971) (1,617) Net benefit for the Canadian branch (2) (2,377) (1,199) (2,130) Research and development credits (1,096) (1,136) (398) State income tax expense - net of Federal impact 156 2,664 8,201 Other – net (412) (1,515) (892) Income tax expense 15,263 50,864 93,989 Effective income tax rate (1) 33.4 % 23.9 % 22.5 % (1) Calculated using income before taxes and after noncontrolling interests. (2) For U.S. income tax purposes, the Company’s Canadian operation is a branch of Guaranty. As a result, the Canadian net deferred tax liability is offset in the U.S. as a deferred tax asset but not in an equal amount given differing tax rates in Canada and the U.S. Deferred tax assets and liabilities resulting from the same tax jurisdiction are netted and presented as either an asset or liability on the consolidated balance sheets. Deferred tax assets and liabilities resulting from different tax jurisdictions are not netted. Deferred tax assets and liabilities as of December 31 are detailed below. 2023 2022 (in $ thousands) Deferred tax assets: Net operating loss (NOL) carryforwards 24,375 24,992 Accrued expenses 23,341 23,249 Tax credit carryforwards 11,551 4,173 Capitalized research and development costs 8,404 5,959 Federal offset to Canadian deferred tax liability 7,418 10,339 Foreign currency translation adjustments 2,705 3,641 Net unrealized losses on investments in securities 1,957 3,045 Allowance for credit losses 1,707 1,642 Title loss provisions 1,081 1,081 Investments 532 1,017 Capital loss carryforward — 1,691 Other 287 268 Deferred tax assets – gross 83,358 81,097 Valuation allowance (13,362) (6,202) Deferred tax assets – net 69,996 74,895 2023 2022 (in $ thousands) Deferred tax liabilities: Amortization – goodwill and other intangibles (43,279) (35,807) Title loss provisions (17,667) (21,133) Other intangible assets from acquisitions (15,518) (20,990) Fixed assets (8,828) (11,072) Deferred compensation on life insurance policies (2,628) (2,157) Net unrealized gains on investments in securities (1,898) (4,325) Investments (1,067) (2,423) Other (380) (1,014) Deferred tax liabilities - gross (91,265) (98,921) Net deferred income tax liability (21,269) (24,026) At December 31, 2023, the Company's deferred tax assets related to NOL carryforwards are composed of a $17.7 million U.S. federal NOL carryforward from a 2021 acquisition with no expiration, various state NOL carryforwards which will expire in varying amounts from 2024 through 2043, and foreign NOL carryforwards which will expire in varying amounts from 2024 through 2027 or have unlimited carryforward periods. The future utilization of all NOL carryforwards is subject to various limitations. At December 31, 2023, the Company had $8.9 million of foreign tax credit carryforwards that will begin to expire in 2029. The future utilization of these credit carryforwards is subject to various limitations. Foreign jurisdictions where the Company makes tax payments include Canada, Australia, Costa Rica, Italy, Mexico, Puerto Rico and the United Kingdom. The Company's valuation allowance at December 31, 2023 relates primarily to all foreign tax credit carryforwards, certain research and development credits acquired in 2021 and certain state and foreign NOL carryforwards which the Company believes are not more-likely-than-not to be utilized prior to expiration.

Goodwill and other intangibles

Goodwill and other intangibles	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangibles	Goodwill and other intangibles. The summary of changes in goodwill is as follows: Title Real Estate Solutions Corporate and Other Total (in $ thousands) Balances at January 1, 2022 583,944 325,543 15,350 924,837 Acquisitions 134,225 — — 134,225 Purchase accounting adjustments 2,701 26,961 (14,450) 15,212 Disposals (392) — (900) (1,292) Balances at December 31, 2022 720,478 352,504 — 1,072,982 Acquisitions 8,581 11,690 — 20,271 Purchase accounting adjustments (20,977) — — (20,977) Disposals (147) — — (147) Balances at December 31, 2023 707,935 364,194 — 1,072,129 An aggregate of $18.0 million and $128.9 million of the goodwill recognized in 2023 and 2022, respectively, related to acquisitions is tax-deductible over a period of 15 years from the corresponding acquisition date. In connection with its acquisitions, the Company recorded during 2023 and 2022 other intangible assets of $28.7 million and $12.6 million, respectively, while it wrote off $10.5 million of other intangible assets related to the disposal of a business in 2022. Purchase accounting adjustments for goodwill in 2023 and 2022 were adjustments recorded within the one-year measurement period to provisional purchase accounting related to respective prior year acquisitions. These adjustments primarily resulted in the recognition of other intangible assets related to customer relationships and internally-developed technology. The summary of other intangibles by major class (refer to Note 1-M ) is as follows: Customer Relationships Technology Others Total (in $ thousands) Balances at December 31, 2023: Gross 162,302 81,062 48,957 292,321 Accumulated amortization (31,878) (38,823) (28,424) (99,125) Net 130,424 42,239 20,533 193,196 Balances at December 31, 2022: Gross 136,027 78,627 48,957 263,611 Accumulated amortization (17,879) (23,744) (22,904) (64,527) Net 118,148 54,883 26,053 199,084 Total amor tization expense recorded for other intangible assets was $34.6 million and $33.0 million in 2023 and 2022, respectively. The annual amortization expense expected to be recognized in the next five years relating to other intangible assets is approximately $31.2 million in 2024, $27.4 million in 2025, $21.3 million in 2026, $12.8 million in 2027 and $11.3 million in 2028.

Notes payable

Notes payable	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Notes payable	Notes payable. A summary of notes payable is as follows: 2023 2022 (in $ thousands) 3.6% Senior Notes 445,130 444,608 Other notes payable 160 2,398 445,290 447,006 In November 2021, the Company completed an underwritten offering of $450 million aggregate principal amount of unsecured 3.6% Senior Notes due on November 15, 2031 (Senior Notes). The proceeds from the issuance of the Senior Notes, net of underwriting discounts and issuance costs, were $444.0 million, which were used to repay an outstanding balance on a previous term loan and for general corporate purposes. Interest on the Senior Notes is paid semi-annually in May and November at a fixed rate of 3.6% per annum. At any time prior to August 15, 2031, the Senior Notes are subject to redemption, at the Company's option, upon not less than 15 days' notice, in whole or in part, at a redemption price equal to the greater of: 100% of the principal amount of the Senior Notes to be redeemed, or the sum of the present values of the remaining scheduled payments of principal and interest to be redeemed. The Senior Notes are the Company’s general senior unsecured obligations, are not guaranteed by any of the Company’s subsidiaries, rank equally in right of payment with the Company’s existing and future senior unsecured indebtedness, and are effectively subordinated to all liabilities of the Company’s subsidiaries and to all of the Company’s secured indebtedness to the extent of the value of the collateral securing such indebtedness. In October 2021, the Company entered into a new senior unsecured credit agreement (the Credit Agreement) comprising of a $200.0 million unsecured revolving credit facility (maturing in October 2026) and a $400.0 million unsecured delayed-draw term loan commitment (364-day term) that was paid off and extinguished in 2021. The Credit Agreement includes an option to increase the revolving credit facility by up to $125.0 million. The Credit Agreement is guaranteed by the Company's wholly-owned subsidiaries. At the Company’s election, borrowings under the Credit Agreement will bear interest at either (a) the Base Rate plus the Applicable Margin (each as defined in the agreement) or (b) the adjusted Term SOFR (as defined in the agreement) plus the applicable margin. The applicable margin, based on the Company's Debt to Capitalization Ratio (as defined in the agreement), for revolving loans ranges from 0.25% to 0.625% per annum for base rate borrowings and 1.25% to 1.625% per annum for Term SOFR borrowings. Further, a commitment fee accrues, based on the Company's debt to capitalization Ratio, ranging from 0.15% to 0.30% per annum on the average daily unused portion of the commitments. The Credit Agreement also contains certain consolidated financial covenants which, as detailed in the agreement, limit the Company's maximum debt to total capitalization ratio and minimum consolidated net worth. As of December 31, 2023, the remaining balance of the line of credit available for use was $197.5 million, net of an unused $2.5 million letter of c redit. The Company was in compliance with all covenants as of December 31, 2023 and 2022 under the Credit Agreement. The Company 's qualified intermediary in tax-deferred property exchanges pursuant to Section 1031 of the Internal Revenue Code (Section 1031) enters into short-term loan agreements with parties to an exchange in the ordinary course of its business. The outstanding balances pursuant to these loans, as included within other notes payable in the above table, were $0.2 million and $2.3 million as of December 31, 2023 and 2022, respectively, and are secured by cash that is included in cash and cash equivalents on the Company's consolidated balance sheet. Borrowings and repayments on these short-term loans are reflected as financing activities in the consolidated statements of cash flows.

Estimated title losses

Estimated title losses	12 Months Ended
	Dec. 31, 2023
Loss Contingency [Abstract]
Estimated title losses	Estimated title losses. A summary of estimated title losses is as follows: 2023 2022 2021 (in $ thousands, except for loss ratios) Balances at January 1 549,448 549,614 496,275 Provisions: Current year 66,818 95,442 121,164 Previous policy years 13,464 7,291 5,079 Total provisions 80,282 102,733 126,243 Payments, net of recoveries: Current year (19,209) (20,966) (16,727) Previous policy years (85,108) (72,132) (54,772) Total payments, net of recoveries (104,317) (93,098) (71,499) Effects of changes in foreign currency exchange rates 2,856 (9,801) (1,405) Balances at December 31 528,269 549,448 549,614 Loss ratios as a percentage of title operating revenues: Current year provisions 3.4 % 3.5 % 4.0 % Total provisions 4.1 % 3.8 % 4.2 % Total title loss provisions during 2023 decreased compared to 2022, primarily due to lower 2023 title premiums, while total title loss provisions in 2022 decreased compared to the prior year, primarily due to lower title premiums and an overall favorable claims experience in 2022.

Share-based payments

Share-based payments	12 Months Ended
	Dec. 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 three The aggregate grant-date fair value of restricted stock unit awards to employees during 2023, 2022 and 2021 was $12.3 million (299,000 stock units with an average grant price of $41.09), $11.9 million (188,300 stock units with an average grant price of $62.99) and $13.1 million (240,800 stock units with an average grant price of $54.45), respectively. In 2021, the Company granted stock option awards with aggregate grant-date fair value of $1.3 million (140,600 options with an average grant price of $9.24 and exercise strike price of $53.24). A summary of the restricted stock unit activity during the year ended December 31, 2023 is presented below: Units Weighted-Average Grant-Date Fair Value per Share ($) Outstanding at January 1, 2023 364,277 57.86 Granted 299,008 41.09 Converted (130,771) 52.98 Forfeited (15,479) 66.50 Outstanding at December 31, 2023 517,035 49.14 Unvested at December 31, 2023 502,251 48.85 A summary of the stock option activity during the year ended December 31, 2023 is presented below: Units Weighted-Average Exercise Price ($) Outstanding at January 1, 2023 693,341 42.37 Exercised (9,051) 39.76 Forfeited (9,272) 47.79 Outstanding at December 31, 2023 675,018 42.33 Unvested at December 31, 2023 61,565 53.24 As of December 31, 2023, the aggregate intrinsic value and weighted average remaining contractual term related to outstanding options was $11.1 million and 6.3 years, respectively. The fair value of grants that vested in 2023 and 2022 aggregated to $5.6 million and $9.6 million, resp ectively. For the years ended December 31, 2023, 2022 and 2021, compensation costs recognized related to share-based awards to employees were approximatel y $10.1 million , $11.5 million and $12.0 million, respectively. The total tax benefits recognized in the consolidated statements of income and comprehensive income from tax deductions relating to vesting of equity awards in 2023, 2022 and 2021 were $0.9 million , $1.2 million and $0.8 million, respectively. As of December 31, 2023, compensation costs not yet recognized related to all employee nonvested awards was $9.8 million , which is expected to be recognized over a weighted average period of 1.9 years .

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2023
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. Any outstanding shares of Common Stock granted to employees that are not yet vested 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: For the Years Ended December 31, 2023 2022 2021 Numerator (in $ thousands): Net income attributable to Stewart 30,439 162,305 323,216 Denominator (in thousands): Basic average shares outstanding 27,293 27,055 26,822 Average number of dilutive shares relating to options 69 159 197 Average number of dilutive shares relating to restricted units and shares 158 133 149 Diluted average shares outstanding 27,520 27,347 27,168 Basic earnings per share attributable to Stewart ($) 1.12 6.00 12.05 Diluted earnings per share attributable to Stewart ($) 1.11 5.94 11.90

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Reinsurance	Reinsurance.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases. Total operating lease expense was $49.6 million, $53.2 million and $46.5 million in 2023, 2022 and 2021, respectively, which included $3.3 million, $4.8 million and $3.6 million, respectively, of lease expense related to short-term leases and equipment. Total finance lease expense was $0.6 million, $0.9 million and $1.0 million in 2023, 2022 and 2021, respectively. Lease-related assets and liabilities as of December 31 are as follows: 2023 2022 (in $ thousands) Assets: Operating lease assets, net of accumulated amortization 115,879 127,830 Finance lease assets, net of accumulated depreciation 778 1,291 Total lease assets 116,657 129,121 Liabilities: Operating lease liabilities 135,654 148,003 Finance lease liabilities — 80 Total lease liabilities 135,654 148,083 Other information related to operating and finance leases during the years ended December 31 is as follows: 2023 2022 Operating Finance Operating Finance Cash paid for amounts included in the measurement of lease liabilities (in $ thousands) 48,747 80 51,501 957 Lease assets obtained in exchange for lease obligations (in $ thousands) 31,849 — 55,861 — Weighted average remaining lease term (years): 4.1 0.0 4.5 0.1 Weighted average discount rate 4.4 % 4.0 % 3.7 % 4.0 % Future minimum lease payments under operating leases as of December 31, 2023 are as follows: (in $ thousands) 2024 45,782 2025 36,137 2026 27,803 2027 19,116 2028 11,272 Thereafter 10,846 Total future minimum lease payments 150,956 Less: imputed interest (15,302) Net future minimum lease payments 135,654
Leases	Leases. Total operating lease expense was $49.6 million, $53.2 million and $46.5 million in 2023, 2022 and 2021, respectively, which included $3.3 million, $4.8 million and $3.6 million, respectively, of lease expense related to short-term leases and equipment. Total finance lease expense was $0.6 million, $0.9 million and $1.0 million in 2023, 2022 and 2021, respectively. Lease-related assets and liabilities as of December 31 are as follows: 2023 2022 (in $ thousands) Assets: Operating lease assets, net of accumulated amortization 115,879 127,830 Finance lease assets, net of accumulated depreciation 778 1,291 Total lease assets 116,657 129,121 Liabilities: Operating lease liabilities 135,654 148,003 Finance lease liabilities — 80 Total lease liabilities 135,654 148,083 Other information related to operating and finance leases during the years ended December 31 is as follows: 2023 2022 Operating Finance Operating Finance Cash paid for amounts included in the measurement of lease liabilities (in $ thousands) 48,747 80 51,501 957 Lease assets obtained in exchange for lease obligations (in $ thousands) 31,849 — 55,861 — Weighted average remaining lease term (years): 4.1 0.0 4.5 0.1 Weighted average discount rate 4.4 % 4.0 % 3.7 % 4.0 % Future minimum lease payments under operating leases as of December 31, 2023 are as follows: (in $ thousands) 2024 45,782 2025 36,137 2026 27,803 2027 19,116 2028 11,272 Thereafter 10,846 Total future minimum lease payments 150,956 Less: imputed interest (15,302) Net future minimum lease payments 135,654

Contingent liabilities and comm

Contingent liabilities and commitments	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingent liabilities and commitments	Contingent liabilities and commitments. The Company routinely holds third-party funds in segregated escrow accounts pending the closing of real estate transactions resulting in a contingent liability to the Company of approximately $1.9 billion at December 31, 2023. In addition, the Company is contingently liable for disbursements of escrow funds held by independent agencies in those cases where specific insured closing guarantees have been issued. The Company owns a qualified intermediary engaged in Section 1031 tax-deferred property exchanges. The Company holds the proceeds from these transactions until a qualifying exchange can occur. This resulted in a contingent liability to the Company of approximately $770.1 million at December 31, 2023. As with industry practice, escrow and Section 1031 exchanger fund accounts are not included in the consolidated balance sheets. In the ordinary course of business, the Company guarantees the third-party indebtedness of certain of its consolidated subsidiaries. As of December 31, 2023, the maximum potential future payments on the guarantees are not more than the related notes payable recorded in the consolidated balance sheets (refer to Note 9 ). 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 lease obligations (refer to Note 14 ) plus lease operating expenses. As of December 31, 2023, the Company also had unused letters of credit aggregating $4.9 million related to workers’ compensation coverage and other insurance. The Company does not expect to make any payments on these guarantees.

Regulatory and legal developmen

Regulatory and legal developments	12 Months Ended
	Dec. 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.

Revenues

Revenues	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenues	Revenues. The Company's operating revenues, summarized by type, are as follows: 2023 2022 2021 (in $ thousands) Title insurance premiums: Direct 635,435 831,391 960,118 Agency 985,989 1,466,243 1,582,640 Escrow fees 153,670 204,217 248,426 Real estate solutions and abstract fees 330,804 372,498 340,463 Other revenues 106,342 174,002 132,969 2,212,240 3,048,351 3,264,616

Segment information

Segment information	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment information	Segment information. Prior to 2022, the Company reported two operating segments: the title insurance and related services (title) segment, and the ancillary services and corporate segment. In 2022, the Company began reporting three operating segments: the title segment, the real estate solutions segment, and the corporate and other segment. The new segment presentation is primarily due to the increased size of the real estate solutions operations (formerly, ancillary services operations) resulting from strategic acquisitions. Previously, the real estate solutions operations were combined in one segment with the Company's corporate operations, which consist of expenses of the parent holding company and other centralized support services departments. Amounts for 2021 were recast in the following table to conform with the new segment presentation. 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 related to corporate operations. Selected statement of income information related to these segments for the years ended December 31 is as follows: 2023 2022 2021 (in $ thousands) Title Revenues 1,977,128 2,733,744 3,002,949 Depreciation and amortization 35,000 29,715 21,227 Interest 1,442 386 3 Income before taxes and noncontrolling interest 97,524 255,132 440,462 Real estate solutions Revenues 263,681 296,702 265,497 Depreciation and amortization 25,802 25,563 14,071 Interest 239 — — Income before taxes 8,680 16,624 12,951 Corporate and other Revenues (net realized losses) (3,468) 38,850 37,346 Depreciation and amortization 1,645 1,900 1,088 Interest 18,056 18,017 5,028 Loss before taxes (45,343) (39,104) (19,442) Consolidated Stewart Revenues 2,257,341 3,069,296 3,305,792 Depreciation and amortization 62,447 57,178 36,386 Interest 19,737 18,403 5,031 Income before taxes and noncontrolling interest 60,861 232,652 433,971 The Company does not provide asset information by reportable operating segment as it does not routinely evaluate the asset position by segment. During 2022 and 2021, the corporate and other segment included results of a real estate brokerage company that was sold during the second quarter 2022. Revenues for the years ended December 31 in the United States and all international operations are as follows: 2023 2022 2021 (in $ thousands) United States 2,122,565 2,893,169 3,107,817 International 134,776 176,127 197,975 2,257,341 3,069,296 3,305,792

Other comprehensive income (los

Other comprehensive income (loss)	12 Months Ended
	Dec. 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 (in $ thousands): For the Year Ended December 31, 2023 For the Year Ended December 31, 2022 For the Year Ended December 31, 2021 Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Foreign currency translation adjustments 6,407 1,130 5,277 (18,634) (3,695) (14,939) (298) 381 (679) Net unrealized gains and losses on investments: Change in net unrealized gains and losses on investments 13,242 2,781 10,461 (44,830) (9,414) (35,416) (17,279) (3,629) (13,650) Reclassification adjustment for realized gains and losses on investments 494 104 390 (1,571) (330) (1,241) (3,088) (648) (2,440) 13,736 2,885 10,851 (46,401) (9,744) (36,657) (20,367) (4,277) (16,090) Other comprehensive income (loss) 20,143 4,015 16,128 (65,035) (13,439) (51,596) (20,665) (3,896) (16,769)

Schedule I - Financial Informat

Schedule I - Financial Information of the Registrant (Parent Company)	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Schedule I - Financial Information of the Registrant (Parent Company)	SCHEDULE I STEWART INFORMATION SERVICES CORPORATION (Parent Company) STATEMENTS OF INCOME AND RETAINED EARNINGS For the Years Ended December 31, 2023 2022 2021 (in $ thousands) Revenues Net realized losses, net of interest and other income (2,222) (1,639) (281) Expenses Interest 18,402 18,276 5,101 Other operating expenses 8,440 8,161 6,924 26,842 26,437 12,025 Loss before taxes and income from investments in subsidiaries (29,064) (28,076) (12,306) Income tax expense (28) (8) — Income from investments in subsidiaries 59,531 190,389 335,522 Net income 30,439 162,305 323,216 Retained earnings at beginning of year 1,091,816 974,800 688,819 Cash dividends on Common Stock (51,414) (45,289) (37,235) Retained earnings at end of year 1,070,841 1,091,816 974,800 See accompanying notes to financial statement information. See accompanying Report of Independent Registered Public Accounting Firm. STEWART INFORMATION SERVICES CORPORATION (Parent Company) BALANCE SHEETS As of December 31, 2023 2022 (in $ thousands) Assets Cash and cash equivalents 6,070 31,912 Receivables from affiliates 50,183 49,055 Property and equipment, at cost: Furniture and equipment 1,713 21 Accumulated depreciation (190) (21) 1,523 — Investments in subsidiaries, on an equity-method basis 1,771,359 1,736,570 Operating lease assets 1,487 4,180 Goodwill 8,068 8,068 Other assets 17,495 16,730 1,856,185 1,846,515 Liabilities Accounts payable and other liabilities 27,255 24,036 Operating lease liabilities 2,389 5,720 Notes payable 455,130 454,608 484,774 484,364 Contingent liabilities and commitments — — Stockholders’ equity Common Stock – $1 par, authorized 51,500,000; issued 27,722,388 and 27,482,573; outstanding 27,370,227 and 27,130,412, respectively 27,723 27,483 Additional paid-in capital 310,728 296,861 Retained earnings 1,070,841 1,091,816 Accumulated other comprehensive income (loss) (AOCI): Foreign currency translation adjustments (18,579) (23,856) Net unrealized investment gains (16,636) (27,487) Treasury stock – 352,161 common shares, at cost (2,666) (2,666) Total stockholders’ equity 1,371,411 1,362,151 1,856,185 1,846,515 See accompanying notes to financial statement information. See accompanying Report of Independent Registered Public Accounting Firm. STEWART INFORMATION SERVICES CORPORATION (Parent Company) STATEMENTS OF CASH FLOWS For the Years Ended December 31, 2023 2022 2021 (in $ thousands) Reconciliation of net income to cash provided by operating activities: Net income 30,439 162,305 323,216 Add (deduct): Depreciation 169 — — Increase in receivables – net (1,128) (27,536) (19,261) (Increase) decrease in other assets – net (764) 2,925 (1,574) Increase (decrease) in payables and accrued liabilities – net 1,717 (1,963) (297) Income from and other adjustments for subsidiaries 11,753 31,886 (31,841) Cash provided by operating activities 42,186 167,617 270,243 Investing activities: Investments in and contributions to subsidiaries (19,000) (109,126) (615,147) Purchase of property and equipment (1,692) — — Collections on notes receivables — — 45,193 Cash used by investing activities (20,692) (109,126) (569,954) Financing activities: Dividends paid (50,523) (44,672) (36,637) Repurchases of Common Stock (1,783) (3,262) (2,252) Proceeds from stock option and employee stock purchase plan exercises 4,970 5,828 2,715 Proceeds from notes payable — — 1,004,703 Payments on notes payable — — (643,875) Purchase of remaining interest of consolidated subsidiary — — (5,616) Payment for debt issuance costs — — (7,404) Cash (used) provided by financing activities (47,336) (42,106) 311,634 (Decrease) increase in cash and cash equivalents (25,842) 16,385 11,923 Cash and cash equivalents at beginning of year 31,912 15,527 3,604 Cash and cash equivalents at end of year 6,070 31,912 15,527 Supplemental information: Income taxes paid, net — — 5 Interest paid 17,197 17,271 2,795 See accompanying notes to financial statement information. See accompanying Report of Independent Registered Public Accounting Firm. STEWART INFORMATION SERVICES CORPORATION (Parent Company) NOTES TO FINANCIAL STATEMENT INFORMATION The Parent Company operates as a holding company, transacting substantially all of its business through its subsidiaries. Its consolidated financial statements are included in Part II, Item 8 of Form 10-K . The Parent Company financial statements should be read in conjunction with the aforementioned consolidated financial statements and notes thereto and financial statement schedules. Dividends received. During 2022 and 2021, Stewart Title Guaranty Company, a wholly-owned subsidiary, paid to the Parent Company dividends of $150.0 million and $293.9 million, respectively, and none in 2023. Also, during 2023, 2022 and 2021, the Parent Company received dividends of $62.0 million, $58.7 million and $2.0 million, respectively, from its unregulated subsidiaries, primarily related to real estate solutions operations.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II STEWART INFORMATION SERVICES CORPORATION AND SUBSIDIARIES VALUATION AND QUALIFYING ACCOUNTS December 31, 2023 Col. A Col. B Col. C Col. D Col. E Description Balance Charged to (Describe) Balance (in $ thousands) Year ended December 31, 2023: Estimated title losses 549,448 80,282 101,461 (A) 528,269 Valuation allowance for deferred tax assets 6,202 8,851 1,691 13,362 Allowance for credit losses 7,309 1,934 1,660 (B) 7,583 Year ended December 31, 2022: Estimated title losses 549,614 102,733 102,899 (A) 549,448 Valuation allowance for deferred tax assets 2,279 7,958 4,035 6,202 Allowance for credit losses 7,711 825 1,227 (B) 7,309 Year ended December 31, 2021: Estimated title losses 496,275 126,243 72,904 (A) 549,614 Valuation allowance for deferred tax assets 6,471 398 4,590 2,279 Allowance for credit losses 4,807 3,023 119 (B) 7,711 (A) Represents primarily payments of policy and escrow losses and loss adjustment expenses. (B) Represents uncollectible accounts written off. See accompanying Report of Independent Registered Public Accounting Firm.

General (Policies)

General (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Management's responsibility	Management’s responsibility. The accompanying consolidated financial statements were prepared by management, who is responsible for their integrity and objectivity. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP), including management’s best judgments and estimates. Actual results could differ from those estimates.
Consolidation	Consolidation. The 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 20% through 50% of the entity, are accounted for using the equity method.
Statutory accounting	Statutory accounting. Stewart Title Guaranty Company (Guaranty) and other title insurance underwriters owned by the Company prepare financial statements in accordance with statutory accounting practices prescribed or permitted by regulatory authorities. In conforming the statutory financial statements to GAAP, statutory premium reserves and reserves for known title losses are eliminated and, in substitution, amounts are established for estimated title losses (Note 1-E), for which the net effect, after providing for income taxes, is included in the consolidated statements of income and comprehensive income. Additionally, investments in debt securities, which are carried at amortized cost for statutory accounting, are reported at fair value and the net unrealized gains and losses, net of applicable deferred taxes, on the investments are included as a component of accumulated other comprehensive income (loss) (AOCI) within stockholders’ equity.
Revenues	Revenues. Direct premiums - Premiums from title insurance policies directly issued or issued by affiliate offices are recognized at the time of the closing of the related real estate transaction. Agency premiums - Premiums from title insurance policies written by independent agencies are recognized when the policies are reported to the Company. In addition, where reasonable estimates can be made, the Company accrues for policies issued but not reported until after period end. The Company believes that reasonable estimates can be made when recent and consistent policy issuance information is available. Estimates are based on historical reporting patterns and other information obtained about independent agencies, as well as current trends in direct operations and in the title industry. In this accrual, future transactions are not being estimated. The Company is estimating revenues on policies that have already been issued by independent agencies but not yet reported to or received by the Company. Escrow fees - An escrow is a transaction pursuant to an agreement of a buyer, seller, borrower, or lender wherein an impartial third party, such as the Company, acts in a fiduciary capacity on behalf of the parties in accordance with the terms of such agreement in order to accomplish the directions stated therein. Services provided include, among others, acting as escrow or other fiduciary agent, obtaining releases, and conducting the actual closing or settlement. Escrow fees are recognized upon closing of the escrow, which is generally at the same time of the closing of the related real estate transaction. Real estate solutions and abstract fees revenues - These revenues consist primarily of revenues from appraisal management services, online notarization and closing services, credit and real estate information services, and abstract services. Appraisal management and abstract services are primarily related to establishing the ownership, legal status and valuation of the property in a real estate transaction. In these cases, the Company does not issue a title insurance policy or perform duties of an escrow agent. Online notarization and closing services provide customers with streamlined, secure and paperless experience for notarization, signing and closing transactions. Respectively, credit and real estate information services provide customers with credit data-driven solutions that facilitate an efficient loan origination process, and comprehensive and real-time property data that benefits various real estate market stakeholders. Revenues from these services are recognized upon delivery of the service to the customer.
Title losses and related claims	Title losses and related claims. The Company's liability for estimated title losses comprises estimates of both known claims and incurred but unreported claims expected to be paid in the future for policies issued as of the balance sheet date. This liability represents the aggregate future payments, net of recoveries, that the Company expects to make related to policy claims. The Company’s method for recording reserves for title losses on both an interim and annual basis begins with the calculation of its current loss provision rate, which is applied to the Company’s current premiums resulting in a title loss expense for the period, except for large claims and escrow losses. This loss provision rate is set to provide for estimated losses on current year policies and is determined using moving average ratios of recent actual policy loss payment experience (net of recoveries) to premium revenues. At each quarter end, the Company’s recorded reserve for title losses is based on the prior period’s reserve balance for claim losses, increased by the current period provision and reduced by actual paid claims. The resulting reserve balance is compared by management to its actuarially-based calculation of the ending reserve balance necessary to provide for future reported title losses. The actuarially-based calculation is a paid loss development calculation where loss development factors are selected based on Company data and input from the Company’s third-party actuaries. Semi-annually, the Company also obtains input from third-party actuaries in the form of a reserve analysis utilizing generally accepted actuarial methods. While the Company is responsible for determining its loss reserves, it utilizes this actuarial input to assess the overall reasonableness of its reserve estimation. If the Company’s r ecorded reserve amount is not at the third-party actuarial point estimate, but is within a reasonable range (+7.0%/-4.0%) of its actuarially-based reserve calculation and the actuary’s point estimate, the Company’s management assesses th e major factors contributing to the different reserve estimates in order to determine the overall reasonableness of its recorded reserve, as well as the position of the recorded reserves relative to the point estimate and the estimated range of reserves. The major factors considered can change from period to period and include items such as current trends in the real estate industry (which management can assess although there is a time lag in the development of this data for use by the actuary), the size and types of claims reported and changes in the Company’s claims management process. If the recorded amount is not within a reasonable range of the Company’s third-party actuary’s point estimate, the Company will adjust the recorded reserves in the current period and reassess the provision rate on a prospective basis. Once the Company’s reserve for title losses is recorded, it is reduced in future periods as a result of claims payments and may be increased or reduced by revisions to the Company’s estimate of the overall level of required reserves. Large claims (those exceeding $1.0 million on a single claim), including large title losses due to independent agency defalcations, are analyzed and reserved for separately due to the higher dollar amount of loss, lower volume of claims reported and sporadic reporting of such claims. Due to the inherent uncertainty in predicting future title policy losses, significant judgment is required by both the Company’s management and its third-party actuaries in estimating reserves. As a consequence, the Company’s ultimate liability may be materially greater or less than its current reserves and/or its third-party actuary’s calculated estimate.
Cash equivalents	Cash equivalents. Cash equivalents are highly liquid investments with insignificant interest rate risks and maturities of three months or less at the time of acquisition.
Short-term investments	Short-term investments. Short-term investments comprise time deposits with banks, federal government obligations and other investments maturing in less than one year.
Investments in debt and equity securities	Investments in debt and equity securities. Investments in debt and equity securities are carried at fair value. Investments in debt securities are classified as available-for-sale and the net unrealized gains and losses on such investments, net of applicable deferred taxes, are included as a component of AOCI within stockholders' equity. Realized gains and losses on sales of investments are determined using the specific identification method. At the time unrealized gains and losses become realized, they are reclassified from AOCI using the specific identification method. Credit losses related to investments in debt securities are recognized through an allowance account, which is charged through income but may be reversed in future periods if no longer required. Fair value changes relating to investments in equity securities are recognized as part of net realized and unrealized gains and losses in the consolidated statements of income and comprehensive income.
Property and equipment	Property and equipment. Depreciation is principally computed using the straight-line method using the following estimated useful lives: buildings – 30 to 40 years and furniture and equipment – 3 to 5 years. Maintenance and repairs are expensed as incurred while improvements are capitalized. Gains and losses are recognized at disposal.
Title plants	Title plants. Title plants include compilations of a county’s official land records, prior title examination files, copies of prior title policies, maps and related materials that are geographically indexed to a specific property. The costs of acquiring existing title plants and creating new ones, prior to the time such plants are placed in operation, are capitalized. Title plants are not amortized since there is no indication of any loss of value over time but are subject to review for impairment. The costs of maintaining and operating title plants are expensed as incurred. Gains and losses on sales of copies of title plants or interests in title plants are recognized at the time of sale.
Impairment of long-lived assets	Impairment of long-lived assets. The Company reviews the carrying values of title plants and other long-lived assets if certain events occur that may indicate impairment. An impairment of these long-lived assets is indicated when, at the asset group level, projected undiscounted cash flows over the estimated lives of the assets are less than carrying values. If impairment is indicated, the recorded amounts are written down to fair values and charged to current operations.
Goodwill	Goodwill. Goodwill is not amortized, but is reviewed annually during the third quarter using June 30 balances, and whenever occurrences of events indicate a potential impairment at the reporting unit level. The Company evaluates goodwill based on four reporting units with goodwill balances - direct operations, agency operations, international operations and real estate solutions. Under GAAP, the Company has an option to assess qualitative factors to determine whether it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. In performing the qualitative assessment, the Company considers factors that include macroeconomic conditions, industry and market considerations, overall actual and expected financial performance, market perspective on the Company, as well as other relevant events and circumstances determined by management. The Company evaluates the weight of each factor to determine whether an impairment more-likely-than-not exists. If the Company decides not to use a qualitative assessment or if the reporting unit fails the qualitative assessment, the quantitative impairment analysis is performed. The quantitative analysis involves the comparison of the fair value of each reporting unit to its carrying amount. Goodwill impairment, if any, is calculated as the excess of the reporting unit's carrying amount over the estimated fair value and is charged to current operations. While the Company is responsible for assessing whether an impairment of goodwill exists, inputs from third-party appraisers are utilized in performing the quantitative analysis. The Company estimates the fair value using a combination of the income approach (discounted cash flow (DCF) technique) and the market approach (guideline public company method and, where available, precedent transaction analyses). The DCF model utilizes historical and projected operating results and cash flows, initially driven by estimates of changes in future revenue levels, and risk-adjusted discount rates. Projected operating results are primarily driven by internal operating budgets and anticipated mortgage originations, which are obtained from projections by industry experts, for the title reporting units and expected contractual revenues for the real estate solutions reporting unit. Fluctuations in revenues, followed by the ability to appropriately adjust employee count and other operating expenses, or large and unanticipated adjustments to title loss reserves, are the primary reasons for increases or decreases in the projected operating results. Market-based valuation methodologies utilize (i) market multiples of earnings and/or other operating metrics of comparable companies and (ii) the Company's market capitalization and a control premium based on market data. Due to the uncertainty and complexity of performing the goodwill impairment analysis, future actual results related to market conditions, the Company's business operations and other inputs to the analysis may be worse than estimated or assumed. In such cases, the Company may be exposed to future material impairments of goodwill. Goodwill is assigned to the reporting units at the time the goodwill is initially recorded. Once assigned to a reporting unit, the goodwill is pooled and no longer attributable to a specific acquisition. All activities within a reporting unit are available to support the carrying value of the goodwill. When a business component within a reporting unit is disposed, goodwill is allocated to the component based on the ratio of the component's fair value over the total fair value of the reporting unit.
Other intangibles	Other intangibles. Other intangible assets are comprised principally of customer relationships, acquired technology, acquired trademarks, non-compete agreements and underwriting agreements. Intangible assets are amortized over their estimated lives: 10 to 20 years for customer relationships, 5 to 7 years for acquired technology, 3 years to indefinite for acquired trademarks, 3 years for non-compete agreements and 5 to 25 years for underwriting agreements. These intangible assets are reviewed for impairment when certain events or changes in circumstances occur that indicate that the carrying amount of an asset may not be recoverable - refer to Note 1-K.
Fair values	Fair values. The fair values of financial instruments, including cash and cash equivalents, short-term investments, notes receivable, notes payable and accounts payable, are determined by 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. The net fair values of these financial instruments approximate their carrying values. Investments in debt and equity securities and certain financial instruments are carried at their fair values.
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 notes payable 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 consolidated statements of income and comprehensive income.
Income taxes	Income taxes. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the tax basis and the book carrying values of certain assets and liabilities. To the extent that the Company does not believe its deferred tax assets meet the more-likely-than-not realization criteria, it establishes a valuation allowance. When it establishes a valuation allowance, or increases (decreases) the allowance during the year, it records a tax expense (benefit) in its consolidated statements of operations and comprehensive income (loss). Enacted tax rates are used in calculating amounts. The Company provides for uncertainties in income taxes by prescribing a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Interest and penalties, if any, are included in income tax expense.
Business combinations	Business combinations. Amounts paid for acquisitions are allocated to the tangible and intangible assets acquired and liabilities assumed and are based on their estimated fair values at the date of acquisition. The excess of the fair value of the purchase consideration over the fair values of the identifiable assets and liabilities is recorded as goodwill. Acquisition-related costs are expensed in the periods in which the costs are incurred. The results of operations of acquired businesses are included in the consolidated financial statements from the date of acquisition. If the initial purchase accounting for an acquisition is incomplete by the end of the reporting period in which the acquisition occurred, provisional amounts are recorded. The measurement period for an acquisition ends the sooner of one year from the acquisition date or when management obtains acquisition-date information necessary to complete the purchase accounting. Adjustments to provisional amounts initially recorded are recognized in the reporting period in which the adjustment amounts are determined.
Fair value measurements	Fair value measurements. Fair value is 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. U.S. GAAP 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.

Investments in debt and equit_2

Investments in debt and equity securities (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments in debt and equity securities	The total fair values of the Company's investments in debt and equity securities as of December 31 are detailed below: 2023 2022 (in $ thousands) Investments in: Debt securities 610,236 611,934 Equity securities 69,700 98,149 679,936 710,083 Net investment gains and losses recognized for the years ended December 31 related to investments in equity securities are follows: 2023 2022 2021 (in $ thousands) Total net investment gains (losses) recognized on equity securities during the period 3,044 (2,151) 19,351 Less: Net realized gains on equity securities sold during the period 975 395 1,631 Net unrealized investment gains (losses) recognized on equity securities still held at December 31 2,069 (2,546) 17,720
Amortized costs and fair values	The amortized costs and fair values of investments in debt securities as of December 31, are as follows: 2023 2022 Amortized Fair Amortized Fair (in $ thousands) Municipal 22,201 22,031 30,104 29,835 Corporate 242,656 231,474 272,362 254,316 Foreign 332,723 323,391 315,184 299,137 U.S. Treasury Bonds 33,714 33,340 29,078 28,646 631,294 610,236 646,728 611,934 Proceeds from sales of investments in securities for the years ended December 31 are as follows: 2023 2022 2021 (in $ thousands) Proceeds from sales of debt securities 21,909 65,827 68,450 Proceeds from sales of equity securities 38,548 868 843 Total proceeds from sales of investments in securities 60,457 66,695 69,293
Gross unrealized gains and losses	Gross unrealized gains and losses on investments in debt securities at December 31, were: 2023 2022 Gains Losses Gains Losses (in $ thousands) Municipal — 170 3 272 Corporate 764 11,946 489 18,535 Foreign 1,765 11,097 165 16,212 U.S. Treasury Bonds 106 480 21 453 2,635 23,693 678 35,472
Debt securities according to contractual terms	Debt securities at December 31, 2023 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized Fair (in $ thousands) In one year or less 101,047 99,855 After one year through five years 344,370 330,077 After five years through ten years 173,408 168,804 After ten years 12,469 11,500 631,294 610,236
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 December 31, 2023, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values (in $ thousands) Municipal 50 13,022 120 8,383 170 21,405 Corporate 68 4,808 11,878 208,971 11,946 213,779 Foreign 472 31,918 10,625 216,135 11,097 248,053 U.S. Treasury Bonds 327 20,895 153 4,815 480 25,710 917 70,643 22,776 438,304 23,693 508,947 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 (in $ thousands) 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)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Financial instruments measured at fair value on recurring basis	At December 31, 2023, financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Level 3 Fair value (in $ thousands) Investments in securities: Debt securities: Municipal — 22,031 — 22,031 Corporate — 231,474 — 231,474 Foreign — 323,391 — 323,391 U.S. Treasury Bonds — 33,340 — 33,340 Equity securities: 69,700 — — 69,700 69,700 610,236 — 679,936 At December 31, 2022, financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Level 3 Fair value (in $ thousands) 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

Investment income and net rea_2

Investment income and net realized and unrealized gains (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Income from investments and net realized and unrealized gains	Investment income and net realized and unrealized gains for the years ended December 31 are detailed below: 2023 2022 2021 (in $ thousands) Investment income: Debt securities 16,274 14,483 13,313 Equity securities, short-term investments, cash equivalents and other 28,861 7,938 3,542 45,135 22,421 16,855 Net realized and unrealized (losses) gains: Realized gains 3,407 6,212 13,015 Realized losses (5,510) (5,142) (6,414) Net unrealized investment gains (losses) recognized on equity securities still held 2,069 (2,546) 17,720 (34) (1,476) 24,321
Net gains (losses) on investments in equity securities still held	The total fair values of the Company's investments in debt and equity securities as of December 31 are detailed below: 2023 2022 (in $ thousands) Investments in: Debt securities 610,236 611,934 Equity securities 69,700 98,149 679,936 710,083 Net investment gains and losses recognized for the years ended December 31 related to investments in equity securities are follows: 2023 2022 2021 (in $ thousands) Total net investment gains (losses) recognized on equity securities during the period 3,044 (2,151) 19,351 Less: Net realized gains on equity securities sold during the period 975 395 1,631 Net unrealized investment gains (losses) recognized on equity securities still held at December 31 2,069 (2,546) 17,720
Proceeds from sale of investments available-for-sale	The amortized costs and fair values of investments in debt securities as of December 31, are as follows: 2023 2022 Amortized Fair Amortized Fair (in $ thousands) Municipal 22,201 22,031 30,104 29,835 Corporate 242,656 231,474 272,362 254,316 Foreign 332,723 323,391 315,184 299,137 U.S. Treasury Bonds 33,714 33,340 29,078 28,646 631,294 610,236 646,728 611,934 Proceeds from sales of investments in securities for the years ended December 31 are as follows: 2023 2022 2021 (in $ thousands) Proceeds from sales of debt securities 21,909 65,827 68,450 Proceeds from sales of equity securities 38,548 868 843 Total proceeds from sales of investments in securities 60,457 66,695 69,293

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income tax expense	Income tax expense consists of the following: 2023 2022 2021 (in $ thousands) Current income tax expense: Federal 5,638 37,723 57,274 State 62 3,051 7,600 Foreign 16,347 9,797 16,508 22,047 50,571 81,382 Deferred income tax expense (benefit): Federal (1,919) (4,025) 13,175 State 107 254 2,197 Foreign (4,972) 4,064 (2,765) (6,784) 293 12,607 Total income tax expense 15,263 50,864 93,989
Reconciliation of income tax expense (benefit) at federal statutory rate	The following reconciles income tax expense computed at the federal statutory rate with income tax expense as reported (in $ thousands, except for income tax rates): 2023 2022 2021 Expected income tax expense at 21% (1) 9,597 44,766 87,613 Valuation allowance 6,222 1,569 (4,427) Nondeductible expenses 3,140 4,731 4,090 Foreign income tax rate differential 2,778 2,955 3,549 Return-to-provision and true-up adjustments (2,745) (1,971) (1,617) Net benefit for the Canadian branch (2) (2,377) (1,199) (2,130) Research and development credits (1,096) (1,136) (398) State income tax expense - net of Federal impact 156 2,664 8,201 Other – net (412) (1,515) (892) Income tax expense 15,263 50,864 93,989 Effective income tax rate (1) 33.4 % 23.9 % 22.5 % (1) Calculated using income before taxes and after noncontrolling interests. (2) For U.S. income tax purposes, the Company’s Canadian operation is a branch of Guaranty. As a result, the Canadian net deferred tax liability is offset in the U.S. as a deferred tax asset but not in an equal amount given differing tax rates in Canada and the U.S.
Schedule of deferred tax assets and liabilities	Deferred tax assets and liabilities as of December 31 are detailed below. 2023 2022 (in $ thousands) Deferred tax assets: Net operating loss (NOL) carryforwards 24,375 24,992 Accrued expenses 23,341 23,249 Tax credit carryforwards 11,551 4,173 Capitalized research and development costs 8,404 5,959 Federal offset to Canadian deferred tax liability 7,418 10,339 Foreign currency translation adjustments 2,705 3,641 Net unrealized losses on investments in securities 1,957 3,045 Allowance for credit losses 1,707 1,642 Title loss provisions 1,081 1,081 Investments 532 1,017 Capital loss carryforward — 1,691 Other 287 268 Deferred tax assets – gross 83,358 81,097 Valuation allowance (13,362) (6,202) Deferred tax assets – net 69,996 74,895 2023 2022 (in $ thousands) Deferred tax liabilities: Amortization – goodwill and other intangibles (43,279) (35,807) Title loss provisions (17,667) (21,133) Other intangible assets from acquisitions (15,518) (20,990) Fixed assets (8,828) (11,072) Deferred compensation on life insurance policies (2,628) (2,157) Net unrealized gains on investments in securities (1,898) (4,325) Investments (1,067) (2,423) Other (380) (1,014) Deferred tax liabilities - gross (91,265) (98,921) Net deferred income tax liability (21,269) (24,026)

Goodwill and other intangibles

Goodwill and other intangibles (Tables)	12 Months Ended
	Dec. 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 (in $ thousands) Balances at January 1, 2022 583,944 325,543 15,350 924,837 Acquisitions 134,225 — — 134,225 Purchase accounting adjustments 2,701 26,961 (14,450) 15,212 Disposals (392) — (900) (1,292) Balances at December 31, 2022 720,478 352,504 — 1,072,982 Acquisitions 8,581 11,690 — 20,271 Purchase accounting adjustments (20,977) — — (20,977) Disposals (147) — — (147) Balances at December 31, 2023 707,935 364,194 — 1,072,129
Summary of intangibles by class	The summary of other intangibles by major class (refer to Note 1-M ) is as follows: Customer Relationships Technology Others Total (in $ thousands) Balances at December 31, 2023: Gross 162,302 81,062 48,957 292,321 Accumulated amortization (31,878) (38,823) (28,424) (99,125) Net 130,424 42,239 20,533 193,196 Balances at December 31, 2022: Gross 136,027 78,627 48,957 263,611 Accumulated amortization (17,879) (23,744) (22,904) (64,527) Net 118,148 54,883 26,053 199,084

Notes payable (Tables)

Notes payable (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Summary of notes payable	A summary of notes payable is as follows: 2023 2022 (in $ thousands) 3.6% Senior Notes 445,130 444,608 Other notes payable 160 2,398 445,290 447,006

Estimated title losses (Tables)

Estimated title losses (Tables)	12 Months Ended
	Dec. 31, 2023
Loss Contingency [Abstract]
Summary of estimated title losses	A summary of estimated title losses is as follows: 2023 2022 2021 (in $ thousands, except for loss ratios) Balances at January 1 549,448 549,614 496,275 Provisions: Current year 66,818 95,442 121,164 Previous policy years 13,464 7,291 5,079 Total provisions 80,282 102,733 126,243 Payments, net of recoveries: Current year (19,209) (20,966) (16,727) Previous policy years (85,108) (72,132) (54,772) Total payments, net of recoveries (104,317) (93,098) (71,499) Effects of changes in foreign currency exchange rates 2,856 (9,801) (1,405) Balances at December 31 528,269 549,448 549,614 Loss ratios as a percentage of title operating revenues: Current year provisions 3.4 % 3.5 % 4.0 % Total provisions 4.1 % 3.8 % 4.2 %

Share-based payments (Tables)

Share-based payments (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of the stock activity	A summary of the restricted stock unit activity during the year ended December 31, 2023 is presented below: Units Weighted-Average Grant-Date Fair Value per Share ($) Outstanding at January 1, 2023 364,277 57.86 Granted 299,008 41.09 Converted (130,771) 52.98 Forfeited (15,479) 66.50 Outstanding at December 31, 2023 517,035 49.14 Unvested at December 31, 2023 502,251 48.85 A summary of the stock option activity during the year ended December 31, 2023 is presented below: Units Weighted-Average Exercise Price ($) Outstanding at January 1, 2023 693,341 42.37 Exercised (9,051) 39.76 Forfeited (9,272) 47.79 Outstanding at December 31, 2023 675,018 42.33 Unvested at December 31, 2023 61,565 53.24

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Basic and diluted earnings (loss) per share	The calculation of the basic and diluted EPS is as follows: For the Years Ended December 31, 2023 2022 2021 Numerator (in $ thousands): Net income attributable to Stewart 30,439 162,305 323,216 Denominator (in thousands): Basic average shares outstanding 27,293 27,055 26,822 Average number of dilutive shares relating to options 69 159 197 Average number of dilutive shares relating to restricted units and shares 158 133 149 Diluted average shares outstanding 27,520 27,347 27,168 Basic earnings per share attributable to Stewart ($) 1.12 6.00 12.05 Diluted earnings per share attributable to Stewart ($) 1.11 5.94 11.90

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of lease-related assets and liabilities	Lease-related assets and liabilities as of December 31 are as follows: 2023 2022 (in $ thousands) Assets: Operating lease assets, net of accumulated amortization 115,879 127,830 Finance lease assets, net of accumulated depreciation 778 1,291 Total lease assets 116,657 129,121 Liabilities: Operating lease liabilities 135,654 148,003 Finance lease liabilities — 80 Total lease liabilities 135,654 148,083
Other information related to operating and finance leases	Other information related to operating and finance leases during the years ended December 31 is as follows: 2023 2022 Operating Finance Operating Finance Cash paid for amounts included in the measurement of lease liabilities (in $ thousands) 48,747 80 51,501 957 Lease assets obtained in exchange for lease obligations (in $ thousands) 31,849 — 55,861 — Weighted average remaining lease term (years): 4.1 0.0 4.5 0.1 Weighted average discount rate 4.4 % 4.0 % 3.7 % 4.0 %
Future minimum lease payments under operating leases	Future minimum lease payments under operating leases as of December 31, 2023 are as follows: (in $ thousands) 2024 45,782 2025 36,137 2026 27,803 2027 19,116 2028 11,272 Thereafter 10,846 Total future minimum lease payments 150,956 Less: imputed interest (15,302) Net future minimum lease payments 135,654

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Summary of operating revenues	The Company's operating revenues, summarized by type, are as follows: 2023 2022 2021 (in $ thousands) Title insurance premiums: Direct 635,435 831,391 960,118 Agency 985,989 1,466,243 1,582,640 Escrow fees 153,670 204,217 248,426 Real estate solutions and abstract fees 330,804 372,498 340,463 Other revenues 106,342 174,002 132,969 2,212,240 3,048,351 3,264,616

Segment information (Tables)

Segment information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Selected statement of operations and income information related to segments	Selected statement of income information related to these segments for the years ended December 31 is as follows: 2023 2022 2021 (in $ thousands) Title Revenues 1,977,128 2,733,744 3,002,949 Depreciation and amortization 35,000 29,715 21,227 Interest 1,442 386 3 Income before taxes and noncontrolling interest 97,524 255,132 440,462 Real estate solutions Revenues 263,681 296,702 265,497 Depreciation and amortization 25,802 25,563 14,071 Interest 239 — — Income before taxes 8,680 16,624 12,951 Corporate and other Revenues (net realized losses) (3,468) 38,850 37,346 Depreciation and amortization 1,645 1,900 1,088 Interest 18,056 18,017 5,028 Loss before taxes (45,343) (39,104) (19,442) Consolidated Stewart Revenues 2,257,341 3,069,296 3,305,792 Depreciation and amortization 62,447 57,178 36,386 Interest 19,737 18,403 5,031 Income before taxes and noncontrolling interest 60,861 232,652 433,971
Revenues generated in domestic and all international operations	Revenues for the years ended December 31 in the United States and all international operations are as follows: 2023 2022 2021 (in $ thousands) United States 2,122,565 2,893,169 3,107,817 International 134,776 176,127 197,975 2,257,341 3,069,296 3,305,792

Other comprehensive income (l_2

Other comprehensive income (loss) (Tables)	12 Months Ended
	Dec. 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 (in $ thousands): For the Year Ended December 31, 2023 For the Year Ended December 31, 2022 For the Year Ended December 31, 2021 Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Foreign currency translation adjustments 6,407 1,130 5,277 (18,634) (3,695) (14,939) (298) 381 (679) Net unrealized gains and losses on investments: Change in net unrealized gains and losses on investments 13,242 2,781 10,461 (44,830) (9,414) (35,416) (17,279) (3,629) (13,650) Reclassification adjustment for realized gains and losses on investments 494 104 390 (1,571) (330) (1,241) (3,088) (648) (2,440) 13,736 2,885 10,851 (46,401) (9,744) (36,657) (20,367) (4,277) (16,090) Other comprehensive income (loss) 20,143 4,015 16,128 (65,035) (13,439) (51,596) (20,665) (3,896) (16,769)

General - General (Details)

General - General (Details)	12 Months Ended
	Dec. 31, 2023
Consolidated title revenues | Texas, New York, California, Florida, Colorado and international markets (principally Canada) | Texas, New York, Florida, California, Ohio, Pennsylvania And International Markets (Principally Canada)
Concentration Risk [Line Items]
Revenue percentage	50%

General - Title Losses and Rela

General - Title Losses and Related Claims (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)
Reserve for Title Losses [Line Items]
Threshold amount for large claims	$ 1,000,000
Maximum
Reserve for Title Losses [Line Items]
Reserve amount, threshold percentage	7%
Minimum
Reserve for Title Losses [Line Items]
Reserve amount, threshold percentage	4%

General - Property and Equipmen

General - Property and Equipment (Details)	Dec. 31, 2023
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life (years)	30 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life (years)	40 years
Furniture and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life (years)	3 years
Furniture and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life (years)	5 years

General - Goodwill (Details)

General - Goodwill (Details)	12 Months Ended
	Dec. 31, 2023 reporting_unit
Accounting Policies [Abstract]
Number of reporting units	4

General - Other Intangibles (De

General - Other Intangibles (Details)	Dec. 31, 2023
Customer Relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated life (years)	10 years
Customer Relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated life (years)	20 years
Technology | Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated life (years)	5 years
Technology | Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated life (years)	7 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated life (years)	3 years
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated life (years)	3 years
Underwriting agreements | Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated life (years)	5 years
Underwriting agreements | Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated life (years)	25 years

General - Leases (Details)

General - Leases (Details)	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Furniture and equipment	Furniture and equipment
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Notes payable	Notes payable

Restrictions on cash and inve_2

Restrictions on cash and investments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Investments In Debt And Equity Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Investments restricted for statutory reserve funds	$ 527.4	$ 544
Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Investments restricted for statutory reserve funds	$ 10	$ 8.6

Statutory surplus and dividen_2

Statutory surplus and dividend restrictions (Details) - Guaranty - Stewart Title Guaranty Company - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Dividends Payable [Line Items]
Dividends paid by guaranty	$ 0	$ 150,000,000	$ 293,900,000
Maximum amount of dividend to be paid	168,700,000
Surplus for guaranty	843,300,000	790,400,000
Statutory net income	76,100,000	$ 144,900,000	$ 188,800,000
Statutory capital and surplus necessary to satisfy regulatory requirements for guaranty	2,000,000
Underwriter entities
Dividends Payable [Line Items]
Statutory capital and surplus necessary to satisfy regulatory requirements for guaranty	$ 2,000,000

Investments in debt and equit_3

Investments in debt and equity securities - Investments in Debt and Equity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Debt securities	$ 610,236	$ 611,934
Equity securities	69,700	98,149
Investments in securities	$ 679,936	$ 710,083

Investments in debt and equit_4

Investments in debt and equity securities - Additional Information (Details) $ in Thousands	Dec. 31, 2023 USD ($) investment	Dec. 31, 2022 USD ($)
Debt Securities, Available-for-sale [Line Items]
Net unrealized investment gains on equity securities	$ 11,200	$ 19,200
Debt securities	$ 610,236	611,934
Number of investments in an unrealized loss position | investment	321
Number of investments in an unrealized loss positions for more than 12 months | investment	261
Foreign
Debt Securities, Available-for-sale [Line Items]
Debt securities	$ 323,391	299,137
Foreign | Canada
Debt Securities, Available-for-sale [Line Items]
Debt securities	282,400	261,800
Foreign | United Kingdom
Debt Securities, Available-for-sale [Line Items]
Debt securities	$ 31,700	$ 28,000

Investments in debt and equit_5

Investments in debt and equity securities - Amortized Costs and Fair Values (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized costs	$ 631,294	$ 646,728
Fair values	610,236	611,934
Municipal
Debt Securities, Available-for-sale [Line Items]
Amortized costs	22,201	30,104
Fair values	22,031	29,835
Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized costs	242,656	272,362
Fair values	231,474	254,316
Foreign
Debt Securities, Available-for-sale [Line Items]
Amortized costs	332,723	315,184
Fair values	323,391	299,137
U.S. Treasury Bonds
Debt Securities, Available-for-sale [Line Items]
Amortized costs	33,714	29,078
Fair values	$ 33,340	$ 28,646

Investments in debt and equit_6

Investments in debt and equity securities - Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Gains	$ 2,635	$ 678
Losses	23,693	35,472
Municipal
Debt Securities, Available-for-sale [Line Items]
Gains	0	3
Losses	170	272
Corporate
Debt Securities, Available-for-sale [Line Items]
Gains	764	489
Losses	11,946	18,535
Foreign
Debt Securities, Available-for-sale [Line Items]
Gains	1,765	165
Losses	11,097	16,212
U.S. Treasury Bonds
Debt Securities, Available-for-sale [Line Items]
Gains	106	21
Losses	$ 480	$ 453

Investments in debt and equit_7

Investments in debt and equity securities - Debt Securities According Contractual Terms (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortized costs
In one year or less	$ 101,047
After one year through five years	344,370
After five years through ten years	173,408
After ten years	12,469
Amortized costs	631,294	$ 646,728
Fair values
In one year or less	99,855
After one year through five years	330,077
After five years through ten years	168,804
After ten years	11,500
Fair values	$ 610,236	$ 611,934

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	Dec. 31, 2023	Dec. 31, 2022
Losses
Less than 12 months	$ 917	$ 21,218
More than 12 months	22,776	14,254
Total	23,693	35,472
Fair values
Less than 12 months	70,643	432,053
More than 12 months	438,304	146,148
Total	508,947	578,201
Municipal
Losses
Less than 12 months	50	262
More than 12 months	120	10
Total	170	272
Fair values
Less than 12 months	13,022	27,491
More than 12 months	8,383	67
Total	21,405	27,558
Corporate
Losses
Less than 12 months	68	12,935
More than 12 months	11,878	5,600
Total	11,946	18,535
Fair values
Less than 12 months	4,808	193,239
More than 12 months	208,971	44,342
Total	213,779	237,581
Foreign
Losses
Less than 12 months	472	7,608
More than 12 months	10,625	8,604
Total	11,097	16,212
Fair values
Less than 12 months	31,918	186,221
More than 12 months	216,135	101,294
Total	248,053	287,515
U.S. Treasury Bonds
Losses
Less than 12 months	327	413
More than 12 months	153	40
Total	480	453
Fair values
Less than 12 months	20,895	25,102
More than 12 months	4,815	445
Total	$ 25,710	$ 25,547

Fair value measurements (Detail

Fair value measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 610,236	$ 611,934
Equity securities	69,700	98,149
Investments in securities	679,936	710,083
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	69,700	98,149
Investments in securities	69,700	98,149
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Investments in securities	610,236	611,934
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Investments in securities	0	0
Municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	22,031	29,835
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	22,031	29,835
Municipal | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	231,474	254,316
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	231,474	254,316
Corporate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Foreign
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	323,391	299,137
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	323,391	299,137
Foreign | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
U.S. Treasury Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	33,340	28,646
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	33,340	28,646
U.S. Treasury Bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 0	$ 0

Investment income and net rea_3

Investment income and net realized and unrealized gains - Income from Investments and Net Realized and Unrealized Gains (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Investment income	$ 45,135	$ 22,421	$ 16,855
Net realized and unrealized (losses) gains:
Realized gains	3,407	6,212	13,015
Realized losses	(5,510)	(5,142)	(6,414)
Net unrealized investment gains (losses) recognized on equity securities still held	2,069	(2,546)	17,720
Investment and other gains (losses) – net	(34)	(1,476)	24,321
Debt securities
Debt Securities, Available-for-sale [Line Items]
Investment income	16,274	14,483	13,313
Equity securities, short-term investments, cash equivalents and other
Debt Securities, Available-for-sale [Line Items]
Investment income	$ 28,861	$ 7,938	$ 3,542

Investment income and net rea_4

Investment income and net realized and unrealized gains - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Contingent receivable loss adjustment	$ 3.2
Contingent liability adjustments	$ 0.9
Gains from settlements of company-owned insurance policies		$ 2.6
Net gains from contingent consideration liabilities		1	$ 3.8
Realized gain on sale of title plant copy		1
Realized losses from disposals of businesses		$ 3.6
Unrealized investment losses on equity securities			6.1
Realized losses on disposals			$ 2.7

Investment income and net rea_5

Investment income and net realized and unrealized gains - Net Gains (Losses) on Investments in Equity Securities Still Held (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Total net investment gains (losses) recognized on equity securities during the period	$ 3,044	$ (2,151)	$ 19,351
Less: Net realized gains on equity securities sold during the period	975	395	1,631
Net unrealized investment gains (losses) recognized on equity securities still held at December 31	$ 2,069	$ (2,546)	$ 17,720

Investment income and net rea_6

Investment income and net realized and unrealized gains - Proceeds from Sale of Investment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales of debt securities	$ 21,909	$ 65,827	$ 68,450
Proceeds from sales of equity securities	38,548	868	843
Total proceeds from sales of investments in securities	$ 60,457	$ 66,695	$ 69,293

Income taxes - Income Tax Expen

Income taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current income tax expense:
Federal	$ 5,638	$ 37,723	$ 57,274
State	62	3,051	7,600
Foreign	16,347	9,797	16,508
Current income tax expense:	22,047	50,571	81,382
Deferred income tax expense (benefit):
Federal	(1,919)	(4,025)	13,175
State	107	254	2,197
Foreign	(4,972)	4,064	(2,765)
Deferred income tax expense (benefit):	(6,784)	293	12,607
Total income tax expense	$ 15,263	$ 50,864	$ 93,989

Income taxes - Reconciliation o

Income taxes - Reconciliation of Income Tax Expenses Computed at Federal Statutory Rate with Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective Tax Rate Reconciliation [Line Items]
Expected income tax expense at 21%	$ 9,597	$ 44,766	$ 87,613
Valuation allowance	6,222	1,569	(4,427)
Nondeductible expenses	3,140	4,731	4,090
Return-to-provision and true-up adjustments	(2,745)	(1,971)	(1,617)
Research and development credits	(1,096)	(1,136)	(398)
State income tax expense - net of Federal impact	156	2,664	8,201
Other – net	(412)	(1,515)	(892)
Total income tax expense	$ 15,263	$ 50,864	$ 93,989
Effective income tax rate	33.40%	23.90%	22.50%
Foreign
Effective Tax Rate Reconciliation [Line Items]
Foreign income tax rate differential	$ 2,778	$ 2,955	$ 3,549
Canada
Effective Tax Rate Reconciliation [Line Items]
Foreign income tax rate differential	$ (2,377)	$ (1,199)	$ (2,130)

Income taxes - Deferred Tax Ass

Income taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating loss (NOL) carryforwards	$ 24,375	$ 24,992
Accrued expenses	23,341	23,249
Tax credit carryforwards	11,551	4,173
Capitalized research and development costs	8,404	5,959
Federal offset to Canadian deferred tax liability	7,418	10,339
Foreign currency translation adjustments	2,705	3,641
Net unrealized losses on investments in securities	1,957	3,045
Allowance for credit losses	1,707	1,642
Title loss provisions	1,081	1,081
Investments	532	1,017
Capital loss carryforward	0	1,691
Other	287	268
Deferred tax assets – gross	83,358	81,097
Valuation allowance	(13,362)	(6,202)
Deferred tax assets – net	69,996	74,895
Deferred tax liabilities:
Amortization – goodwill and other intangibles	(43,279)	(35,807)
Title loss provisions	(17,667)	(21,133)
Other intangible assets from acquisitions	(15,518)	(20,990)
Fixed assets	(8,828)	(11,072)
Deferred compensation on life insurance policies	(2,628)	(2,157)
Net unrealized gains on investments in securities	(1,898)	(4,325)
Investments	(1,067)	(2,423)
Other	(380)	(1,014)
Deferred tax liabilities - gross	(91,265)	(98,921)
Net deferred income tax liability	$ (21,269)	$ (24,026)

Income taxes - Additional Infor

Income taxes - Additional Information (Details) $ in Millions	Dec. 31, 2023 USD ($)
Income Tax Disclosure [Abstract]
U.S. federal NOL carryforward from an acquisition in 2021 with no expiration	$ 17.7
Foreign tax credit carryforwards with expiration	$ 8.9

Goodwill and other intangible_2

Goodwill and other intangibles - Summary of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill summary
Beginning balances	$ 1,072,982	$ 924,837
Acquisitions	20,271	134,225
Purchase accounting adjustments	(20,977)	15,212
Disposals	(147)	(1,292)
Ending balances	1,072,129	1,072,982
Corporate and Other
Goodwill summary
Beginning balances	0	15,350
Acquisitions	0	0
Purchase accounting adjustments	0	(14,450)
Disposals	0	(900)
Ending balances	0	0
Title | Operating Segments
Goodwill summary
Beginning balances	720,478	583,944
Acquisitions	8,581	134,225
Purchase accounting adjustments	(20,977)	2,701
Disposals	(147)	(392)
Ending balances	707,935	720,478
Real Estate Solutions | Operating Segments
Goodwill summary
Beginning balances	352,504	325,543
Acquisitions	11,690	0
Purchase accounting adjustments	0	26,961
Disposals	0	0
Ending balances	$ 364,194	$ 352,504

Goodwill and other intangible_3

Goodwill and other intangibles - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Tax-deductible goodwill	$ 18	$ 128.9
Measurement period to provisional purchase accounting adjustments	1 year	1 year
Amortization expense of other intangibles	$ 34.6	$ 33
Future amortization expense
Expected amortization expense in 2024	31.2
Expected amortization expense in 2025	27.4
Expected amortization expense in 2026	21.3
Expected amortization expense in 2027	12.8
Expected amortization expense in 2028	11.3
Title
Acquired Finite-Lived Intangible Assets [Line Items]
Other intangibles acquired	$ 28.7	12.6
Intangible assets, written off related to disposal of a business		$ 10.5

Goodwill and other intangible_4

Goodwill and other intangibles - Summary of Intangibles by Class (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross	$ 292,321	$ 263,611
Accumulated amortization	(99,125)	(64,527)
Net	193,196	199,084
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross	162,302	136,027
Accumulated amortization	(31,878)	(17,879)
Net	130,424	118,148
Technology
Finite-Lived Intangible Assets [Line Items]
Gross	81,062	78,627
Accumulated amortization	(38,823)	(23,744)
Net	42,239	54,883
Others
Finite-Lived Intangible Assets [Line Items]
Gross	48,957	48,957
Accumulated amortization	(28,424)	(22,904)
Net	$ 20,533	$ 26,053

Notes payable - Summary of Note

Notes payable - Summary of Notes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Nov. 30, 2021
Debt Instrument [Line Items]
Other notes payable	$ 160	$ 2,398
Notes payable	$ 445,290	447,006
3.6% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.60%		3.60%
3.6% Senior Notes	$ 445,130	$ 444,608

Notes payable - Additional Info

Notes payable - Additional Information (Details)	1 Months Ended
	Nov. 30, 2021 USD ($) d	Oct. 31, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Other notes payable			$ 160,000	$ 2,398,000
Notes payable, other than banks
Debt Instrument [Line Items]
Other notes payable			$ 200,000	$ 2,300,000
Senior Notes | 3.6% Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 450,000,000
Stated interest rate (as a percent)	3.60%		3.60%
Debt issuance costs	$ 444,000,000
Senior Notes | 3.6% Senior Notes | At any time prior to August 15, 2031
Debt Instrument [Line Items]
Redemption notice period | d	15
Senior Notes | 3.6% Senior Notes | Minimum | At any time prior to August 15, 2031
Debt Instrument [Line Items]
Redemption price percentage	100%
Line of credit | Revolving Credit Facility
Debt Instrument [Line Items]
Remaining borrowing capacity			$ 197,500,000
Line of credit | Letter of credit
Debt Instrument [Line Items]
Remaining borrowing capacity			$ 2,500,000
Line of credit | New Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 200,000,000
Line of credit | New Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Increase limit		$ 125,000,000
Line of credit | New Credit Agreement | Minimum
Debt Instrument [Line Items]
Commitment fee (percent)		0.15%
Line of credit | New Credit Agreement | Minimum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate, line of credit (percent)		0.25%
Line of credit | New Credit Agreement | Minimum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate, line of credit (percent)		1.25%
Line of credit | New Credit Agreement | Maximum
Debt Instrument [Line Items]
Commitment fee (percent)		0.30%
Line of credit | New Credit Agreement | Maximum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate, line of credit (percent)		0.625%
Line of credit | New Credit Agreement | Maximum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate, line of credit (percent)		1.625%
Line of credit | Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 400,000,000
Debt instrument, term		364 days

Estimated title losses - Estima

Estimated title losses - Estimated Title Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Loss Contingency Accrual
Balances at beginning of period	$ 549,448	$ 549,614	$ 496,275
Provisions:
Current year	66,818	95,442	121,164
Previous policy years	13,464	7,291	5,079
Total provisions	80,282	102,733	126,243
Payments, net of recoveries:
Current year	(19,209)	(20,966)	(16,727)
Previous policy years	(85,108)	(72,132)	(54,772)
Total payments, net of recoveries	(104,317)	(93,098)	(71,499)
Effects of changes in foreign currency exchange rates	2,856	(9,801)	(1,405)
Balances at end of period	$ 528,269	$ 549,448	$ 549,614
Loss ratios as a percentage of title operating revenues:
Current year provisions	3.40%	3.50%	4%
Total provisions	4.10%	3.80%	4.20%

Share-based payments - Addition

Share-based payments - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of options granted in the period	$ 1.3
Number of options granted in the period (in shares)	140,600
Average grant price (in usd per share)	$ 9.24
Grant price (in usd per share)	$ 53.24
Intrinsic Value	$ 11.1
Remaining contractual term	6 years 3 months 18 days
Fair value of vested shares	$ 5.6	$ 9.6
Compensation costs	$ 10.1	11.5	$ 12
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 and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair values at grant date	$ 12.3	$ 11.9	$ 13.1
Granted (in shares)	299,000	188,300	240,800
Average grant price (in usd per share)	$ 41.09	$ 62.99	$ 54.45
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefits related to vesting of awards	$ 0.9	$ 1.2	$ 0.8
Compensation costs not yet recognized	$ 9.8
Compensation costs not yet recognized, period for recognition	1 year 10 months 24 days

Share-based payments - Summary

Share-based payments - Summary of Restricted Common Stock Unit Activity (Details) - Restricted stock unit	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Units
Outstanding at beginning (in shares) | shares	364,277
Granted (in shares) | shares	299,008
Vested/Converted (in shares) | shares	(130,771)
Forfeited (in shares) | shares	(15,479)
Outstanding at ending (in shares) | shares	517,035
Nonvested balance at end of period (in shares) | shares	502,251
Weighted-Average Grant-Date Fair Value per Share ($)
Outstanding at beginning (in usd per share) | $ / shares	$ 57.86
Granted (in usd per share) | $ / shares	41.09
Vested/Converted (in usd per share) | $ / shares	52.98
Forfeited (in usd per share) | $ / shares	66.50
Outstanding at ending (in usd per share) | $ / shares	49.14
Nonvested balance at end of period (in usd per share) | $ / shares	$ 48.85

Share-based payments - Schedule

Share-based payments - Schedule Of Options Activity (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Units
Outstanding beginning (in shares) | shares	693,341
Exercised (in shares) | shares	(9,051)
Forfeitures (in shares) | shares	(9,272)
Outstanding ending (in shares) | shares	675,018
Nonvested (in shares) | shares	61,565
Weighted-Average Exercise Price ($)
Outstanding beginning (in usd per share) | $ / shares	$ 42.37
Exercised (in usd per share) | $ / shares	39.76
Forfeited (in usd per share) | $ / shares	47.79
Outstanding ending (in usd per share) | $ / shares	42.33
Nonvested (in shares) | $ / shares	$ 53.24

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator (in $ thousands):
Net income attributable to Stewart	$ 30,439	$ 162,305	$ 323,216
Denominator (in thousands):
Basic average shares outstanding (in shares)	27,293	27,055	26,822
Diluted average shares outstanding (in shares)	27,520	27,347	27,168
Basic earnings per share attributable to Stewart (in usd per share)	$ 1.12	$ 6	$ 12.05
Diluted earnings per share attributable to Stewart (in usd per share)	$ 1.11	$ 5.94	$ 11.90
Stock options
Denominator (in thousands):
Average number of dilutive shares relating to restricted shares and units (in shares)	69	159	197
Restricted stock and restricted stock units
Denominator (in thousands):
Average number of dilutive shares relating to restricted shares and units (in shares)	158	133	149

Reinsurance (Details)

Reinsurance (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Insurance [Abstract]
Total amount of premiums for assumed and ceded risks as a percentage of consolidated title revenue (less than)	1%	1%	1%
Reinsurance recoverables	$ 0	$ 0
Reinsurance payable	$ 0	$ 0

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease expense	$ 49.6	$ 53.2	$ 46.5
Short-term lease expense	3.3	4.8	3.6
Total finance lease expense	$ 0.6	$ 0.9	$ 1

Leases - Classification of Leas

Leases - Classification of Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Operating lease assets, net of accumulated amortization	$ 115,879	$ 127,830
Finance lease assets, net of accumulated depreciation	778	1,291
Total lease assets	116,657	129,121
Liabilities:
Operating lease liabilities	135,654	148,003
Finance lease liabilities	0	80
Total lease liabilities	$ 135,654	$ 148,083

Leases - Other Information Rela

Leases - Other Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating
Cash paid for amounts included in the measurement of lease liabilities	$ 48,747	$ 51,501
Lease assets obtained in exchange for lease obligations	$ 31,849	$ 55,861
Weighted average remaining lease term (years)	4 years 1 month 6 days	4 years 6 months
Weighted average discount rate	4.40%	3.70%
Finance
Cash paid for amounts included in the measurement of lease liabilities	$ 80	$ 957
Lease assets obtained in exchange for lease obligations	$ 0	$ 0
Weighted average remaining lease term (years)	0 years	1 month 6 days
Weighted average discount rate	4%	4%

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating
2024	$ 45,782
2025	36,137
2026	27,803
2027	19,116
2028	11,272
Thereafter	10,846
Total future minimum lease payments	150,956
Less: imputed interest	(15,302)
Net future minimum lease payments	$ 135,654	$ 148,003

Contingent liabilities and co_2

Contingent liabilities and commitments (Details) $ in Millions	Dec. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Guarantee of indebtedness, relating to unused letters of credit	$ 4.9
Escrow account deposit
Loss Contingencies [Line Items]
Contingent liability, escrow deposit	1,900
Escrow account deposit - Section 1031 Exchange
Loss Contingencies [Line Items]
Contingent liability, escrow deposit	$ 770.1

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Operating revenues	$ 2,212,240	$ 3,048,351	$ 3,264,616
Direct
Disaggregation of Revenue [Line Items]
Operating revenues	635,435	831,391	960,118
Agency
Disaggregation of Revenue [Line Items]
Operating revenues	985,989	1,466,243	1,582,640
Escrow fees
Disaggregation of Revenue [Line Items]
Operating revenues	153,670	204,217	248,426
Real estate solutions and abstract fees
Disaggregation of Revenue [Line Items]
Operating revenues	330,804	372,498	340,463
Other revenues
Disaggregation of Revenue [Line Items]
Operating revenues	$ 106,342	$ 174,002	$ 132,969

Segment information - Additiona

Segment information - Additional Information (Details) - segment	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting [Abstract]
Number of operating segments	3	2

Segment information - Selected

Segment information - Selected Statement of Operations and Income Information Related to Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenues	$ 2,257,341	$ 3,069,296	$ 3,305,792
Depreciation and amortization	62,447	57,178	36,386
Interest	19,737	18,403	5,031
Income before taxes	60,861	232,652	433,971
Title
Segment Reporting Information [Line Items]
Revenues	1,977,128	2,733,744	3,002,949
Depreciation and amortization	35,000	29,715	21,227
Interest	1,442	386	3
Income before taxes	97,524	255,132	440,462
Real estate solutions
Segment Reporting Information [Line Items]
Revenues	263,681	296,702	265,497
Depreciation and amortization	25,802	25,563	14,071
Interest	239	0	0
Income before taxes	8,680	16,624	12,951
Corporate and other
Segment Reporting Information [Line Items]
Revenues	(3,468)	38,850	37,346
Depreciation and amortization	1,645	1,900	1,088
Interest	18,056	18,017	5,028
Income before taxes	$ (45,343)	$ (39,104)	$ (19,442)

Segment information - Revenues

Segment information - Revenues Generated in Domestic and Foreign Country (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 2,257,341	$ 3,069,296	$ 3,305,792
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	2,122,565	2,893,169	3,107,817
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 134,776	$ 176,127	$ 197,975

Other comprehensive income (l_3

Other comprehensive income (loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Before-Tax Amount
Other comprehensive income (loss)	$ 20,143	$ (65,035)	$ (20,665)
Tax Expense (Benefit)
Other comprehensive income (loss)	4,015	(13,439)	(3,896)
Net-of-Tax Amount
Other comprehensive income (loss), net of taxes	16,128	(51,596)	(16,769)
Foreign currency translation adjustments
Before-Tax Amount
Other comprehensive income (loss)	6,407	(18,634)	(298)
Tax Expense (Benefit)
Other comprehensive income (loss)	1,130	(3,695)	381
Net-of-Tax Amount
Other comprehensive income (loss), net of taxes	5,277	(14,939)	(679)
Net unrealized gains and losses on investments
Before-Tax Amount
Change in net unrealized gains and losses on investments	13,242	(44,830)	(17,279)
Reclassification adjustment for realized gains and losses on investments	494	(1,571)	(3,088)
Other comprehensive income (loss)	13,736	(46,401)	(20,367)
Tax Expense (Benefit)
Change in net unrealized gains and losses on investments	2,781	(9,414)	(3,629)
Reclassification adjustment for realized gains and losses on investments	104	(330)	(648)
Other comprehensive income (loss)	2,885	(9,744)	(4,277)
Net-of-Tax Amount
Change in net unrealized gains and losses on investments	10,461	(35,416)	(13,650)
Reclassification adjustment for realized gains and losses on investments	390	(1,241)	(2,440)
Other comprehensive income (loss), net of taxes	$ 10,851	$ (36,657)	$ (16,090)

Schedule I - Financial Inform_2

Schedule I - Financial Information of the Registrant (Parent Company) - Statements of Income and Retained Earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Expenses
Interest	$ 19,737	$ 18,403	$ 5,031
Other operating expenses	507,701	648,022	626,762
Total expenses	2,196,480	2,836,644	2,871,821
Income tax expense	(15,263)	(50,864)	(93,989)
Net income attributable to Stewart	30,439	162,305	323,216
Retained Earnings [Roll Forward]
Retained earnings at beginning of year	1,091,816
Cash dividends on Common Stock	(51,414)	(45,289)	(37,235)
Retained earnings at end of year	1,070,841	1,091,816
Parent company
Revenues
Net realized losses, net of interest and other income	(2,222)	(1,639)	(281)
Expenses
Interest	18,402	18,276	5,101
Other operating expenses	8,440	8,161	6,924
Total expenses	26,842	26,437	12,025
Loss before taxes and income from investments in subsidiaries	(29,064)	(28,076)	(12,306)
Income tax expense	(28)	(8)	0
Income from investments in subsidiaries	59,531	190,389	335,522
Net income attributable to Stewart	30,439	162,305	323,216
Retained Earnings [Roll Forward]
Retained earnings at beginning of year	1,091,816	974,800	688,819
Cash dividends on Common Stock	(51,414)	(45,289)	(37,235)
Retained earnings at end of year	$ 1,070,841	$ 1,091,816	$ 974,800

Schedule I - Financial Inform_3

Schedule I - Financial Information of the Registrant (Parent Company) - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 233,365	$ 248,367
Property and equipment, at cost:
Accumulated depreciation	(173,799)	(153,474)
Total property and equipment, at cost	82,335	81,539
Investments in subsidiaries, on an equity-method basis	4,220	4,575
Operating lease assets	115,879	127,830
Goodwill	1,072,129	1,072,982	$ 924,837
Other assets	80,739	75,430
Total assets	2,702,861	2,737,879
Liabilities
Accounts payable and other liabilities	190,054	196,541
Operating lease liabilities	135,654	148,003
Notes payable	445,290	447,006
Total liabilities	1,324,312	1,367,614
Contingent liabilities and commitments
Stockholders’ equity
Common Stock – $1 par, authorized 51,500,000; issued 27,722,388 and 27,482,573; outstanding 27,370,227 and 27,130,412, respectively	27,723	27,483
Additional paid-in capital	310,728	296,861
Retained earnings	1,070,841	1,091,816
Accumulated other comprehensive income (loss) (AOCI):
Foreign currency translation adjustments	(18,579)	(23,856)
Net unrealized investment gains	(16,636)	(27,487)
Treasury stock – 352,161 common shares, at cost	(2,666)	(2,666)
Total stockholders’ equity	1,371,411	1,362,151
Total liabilities and stockholders' equity	2,702,861	2,737,879
Parent company
Assets
Cash and cash equivalents	6,070	31,912
Receivables from affiliates	50,183	49,055
Property and equipment, at cost:
Furniture and equipment	1,713	21
Accumulated depreciation	(190)	(21)
Total property and equipment, at cost	1,523	0
Investments in subsidiaries, on an equity-method basis	1,771,359	1,736,570
Operating lease assets	1,487	4,180
Goodwill	8,068	8,068
Other assets	17,495	16,730
Total assets	1,856,185	1,846,515
Liabilities
Accounts payable and other liabilities	27,255	24,036
Operating lease liabilities	2,389	5,720
Notes payable	455,130	454,608
Total liabilities	484,774	484,364
Contingent liabilities and commitments	0	0
Stockholders’ equity
Common Stock – $1 par, authorized 51,500,000; issued 27,722,388 and 27,482,573; outstanding 27,370,227 and 27,130,412, respectively	27,723	27,483
Additional paid-in capital	310,728	296,861
Retained earnings	1,070,841	1,091,816	$ 974,800	$ 688,819
Accumulated other comprehensive income (loss) (AOCI):
Foreign currency translation adjustments	(18,579)	(23,856)
Net unrealized investment gains	(16,636)	(27,487)
Treasury stock – 352,161 common shares, at cost	(2,666)	(2,666)
Total stockholders’ equity	1,371,411	1,362,151
Total liabilities and stockholders' equity	$ 1,856,185	$ 1,846,515

Schedule I - Financial Inform_4

Schedule I - Financial Information of the Registrant (Parent Company) - Balance Sheets (Additional Information) (Details) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock, par value (in usd per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	51,500,000	51,500,000
Common stock, shares issued (in shares)	27,722,388	27,482,573
Common stock, shares outstanding (in shares)	27,370,227	27,130,412
Treasury stock, common shares (in shares)	352,161	352,161
Parent company
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock, par value (in usd per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	51,500,000	51,500,000
Common stock, shares issued (in shares)	27,722,388	27,482,573
Common stock, shares outstanding (in shares)	27,370,227	27,130,412
Treasury stock, common shares (in shares)	352,161	352,161

Schedule I - Financial Inform_5

Schedule I - Financial Information of the Registrant (Parent Company) - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of net income to cash provided by operating activities:
Net income	$ 30,439	$ 162,305	$ 323,216
Add (deduct):
Depreciation	62,447	57,178	36,386
Increase in receivables – net	(5,355)	10,154	(18,822)
(Increase) decrease in other assets – net	3,178	2,503	(5,931)
Increase (decrease) in payables and accrued liabilities – net	(6,432)	(87,502)	(22,316)
Income from and other adjustments for subsidiaries	(1,071)	(3,257)	(9,488)
Cash provided by operating activities	83,042	191,860	390,291
Investing activities:
Purchase of property and equipment	(37,791)	(47,948)	(39,799)
Cash used by investing activities	(29,969)	(300,665)	(645,276)
Financing activities:
Dividends paid	(50,523)	(44,672)	(36,637)
Repurchases of Common Stock	(1,783)	(3,262)	(2,252)
Proceeds from stock option and employee stock purchase plan exercises	4,970	5,828	2,715
Proceeds from notes payable	3,538	39,499	1,197,351
Payments on notes payable	(5,776)	(76,486)	(809,816)
Purchase of remaining interest of consolidated subsidiary	0	(3,838)	(5,616)
Payment for debt issuance costs	0	115	(7,404)
Cash (used) provided by financing activities	(69,099)	(123,220)	310,374
(Decrease) increase in cash and cash equivalents	(15,002)	(237,552)	53,236
Cash and cash equivalents at beginning of year	248,367	485,919	432,683
Cash and cash equivalents at end of year	233,365	248,367	485,919
Supplemental information:
Income taxes paid, net	5,345	60,088	106,101
Interest paid	17,169	17,398	2,828
Parent company
Reconciliation of net income to cash provided by operating activities:
Net income	30,439	162,305	323,216
Add (deduct):
Depreciation	169	0	0
Increase in receivables – net	(1,128)	(27,536)	(19,261)
(Increase) decrease in other assets – net	(764)	2,925	(1,574)
Increase (decrease) in payables and accrued liabilities – net	1,717	(1,963)	(297)
Income from and other adjustments for subsidiaries	11,753	31,886	(31,841)
Cash provided by operating activities	42,186	167,617	270,243
Investing activities:
Investments in and contributions to subsidiaries	(19,000)	(109,126)	(615,147)
Purchase of property and equipment	(1,692)	0	0
Collections on notes receivables	0	0	45,193
Cash used by investing activities	(20,692)	(109,126)	(569,954)
Financing activities:
Dividends paid	(50,523)	(44,672)	(36,637)
Repurchases of Common Stock	(1,783)	(3,262)	(2,252)
Proceeds from stock option and employee stock purchase plan exercises	4,970	5,828	2,715
Proceeds from notes payable	0	0	1,004,703
Payments on notes payable	0	0	(643,875)
Purchase of remaining interest of consolidated subsidiary	0	0	(5,616)
Payment for debt issuance costs	0	0	(7,404)
Cash (used) provided by financing activities	(47,336)	(42,106)	311,634
(Decrease) increase in cash and cash equivalents	(25,842)	16,385	11,923
Cash and cash equivalents at beginning of year	31,912	15,527	3,604
Cash and cash equivalents at end of year	6,070	31,912	15,527
Supplemental information:
Income taxes paid, net	0	0	5
Interest paid	$ 17,197	$ 17,271	$ 2,795

Schedule I - Financial Inform_6

Schedule I - Financial Information of the Registrant (Parent Company) - Additional Information (Details) - Subsidiary - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stewart Title Guaranty Company
Condensed Financial Statements, Captions [Line Items]
Dividends paid by guaranty	$ 0	$ 150,000,000	$ 293,900,000
Unregulated Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Dividends paid by guaranty	$ 62,000,000	$ 58,700,000	$ 2,000,000

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Estimated title losses
Movement in Valuation Allowances and Reserves
Balance at beginning of period	$ 549,448	$ 549,614	$ 496,275
Charged to costs and expenses	80,282	102,733	126,243
Deductions	101,461	102,899	72,904
Balance At end of period	528,269	549,448	549,614
Valuation allowance for deferred tax assets
Movement in Valuation Allowances and Reserves
Balance at beginning of period	6,202	2,279	6,471
Charged to costs and expenses	8,851	7,958	398
Deductions	1,691	4,035	4,590
Balance At end of period	13,362	6,202	2,279
Allowance for credit losses
Movement in Valuation Allowances and Reserves
Balance at beginning of period	7,309	7,711	4,807
Charged to costs and expenses	1,934	825	3,023
Deductions	1,660	1,227	119
Balance At end of period	$ 7,583	$ 7,309	$ 7,711