Stewart Information Services (STC) 10-Q 7 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	Apr. 29, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-02658
Entity Registrant Name	STEWART INFORMATION SERVICES CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-1677330
Entity Address, Address Line One	1360 Post Oak Blvd.,
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77056
City Area Code	713
Local Phone Number	625-8100
Title of 12(b) Security	Common Stock, $1 par value per share
Trading Symbol	STC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,580,535
Entity Central Index Key	0000094344
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues
Operating revenues	$ 534,376	$ 519,484
Investment income	12,901	6,599
Net realized and unrealized gains (losses)	7,038	(1,778)
Revenues	554,315	524,305
Expenses
Amounts retained by agencies	199,976	205,738
Employee costs	172,417	170,551
Other operating expenses	136,951	120,743
Title losses and related claims	17,383	17,674
Depreciation and amortization	15,384	14,906
Interest	5,058	4,849
Total expenses	547,169	534,461
Income (loss) before taxes and noncontrolling interests	7,146	(10,156)
Income tax (expense) benefit	(936)	4,938
Net income (loss)	6,210	(5,218)
Less net income attributable to noncontrolling interests	3,080	2,972
Net income (loss) attributable to Stewart	3,130	(8,190)
Net income (loss) attributable to Stewart
Net income (loss)	6,210	(5,218)
Other comprehensive (loss) income, net of taxes:
Foreign currency translation adjustments	(4,470)	598
Change in net unrealized gains and losses on investments	(2,276)	6,617
Reclassification adjustments for realized gains and losses on investments	150	92
Other comprehensive (loss) income, net of taxes:	(6,596)	7,307
Comprehensive (loss) income	(386)	2,089
Less net income attributable to noncontrolling interests	3,080	2,972
Comprehensive loss attributable to Stewart	$ (3,466)	$ (883)
Basic average shares outstanding (in shares)	27,512	27,201
Basic earnings (loss) per share attributable to Stewart (in usd per share)	$ 0.11	$ (0.30)
Diluted average shares outstanding (in shares)	28,027	27,201
Diluted earnings (loss) per share attributable to Stewart (in usd per share)	$ 0.11	$ (0.30)
Direct operations
Revenues
Operating revenues	$ 210,588	$ 207,871
Agency operations
Revenues
Operating revenues	240,772	249,021
Real estate solutions
Revenues
Operating revenues	$ 83,016	$ 62,592

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 138,351	$ 233,365
Short-term investments	42,774	39,023
Investments, at fair value:
Debt securities (amortized cost of $620,806 and $631,294)	597,057	610,236
Equity securities	76,893	69,700
Investments, fair value	673,950	679,936
Receivables:
Premiums from agencies	39,600	38,676
Trade and other	86,010	75,706
Income taxes	4,435	3,535
Notes	20,575	14,570
Allowance for uncollectible amounts	(8,000)	(7,583)
Total receivables	142,620	124,904
Property and equipment:
Land	2,582	2,545
Buildings	19,240	19,219
Furniture and equipment	241,675	234,370
Accumulated depreciation	(180,570)	(173,799)
Total property and equipment, at cost	82,927	82,335
Operating lease assets	113,617	115,879
Title plants, at cost	73,359	73,359
Goodwill	1,072,315	1,072,129
Intangible assets, net of amortization	185,067	193,196
Deferred tax assets	3,719	3,776
Other assets	122,690	84,959
Total assets	2,651,389	2,702,861
Liabilities
Notes payable	445,433	445,290
Accounts payable and accrued liabilities	166,376	190,054
Operating lease liabilities	132,723	135,654
Estimated title losses	519,229	528,269
Deferred tax liabilities	23,485	25,045
Total liabilities	1,287,246	1,324,312
Contingent liabilities and commitments
Stockholders’ equity
Common Stock ($1 par value) and additional paid-in capital	341,314	338,451
Retained earnings	1,060,808	1,070,841
Accumulated other comprehensive loss:
Foreign currency translation adjustments	(23,049)	(18,579)
Net unrealized losses on debt securities investments	(18,762)	(16,636)
Treasury stock – 352,161 common shares, at cost	(2,666)	(2,666)
Stockholders’ equity attributable to Stewart	1,357,645	1,371,411
Noncontrolling interests	6,498	7,138
Total stockholders’ equity ($27,580,535 and 27,370,227 shares outstanding)	1,364,143	1,378,549
Total liabilities and stockholders' equity	$ 2,651,389	$ 2,702,861

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Amortized cost	$ 620,806	$ 631,294
Common stock, par value (in usd per share)	$ 1	$ 1
Treasury stock (in shares)	352,161	352,161
Common stock, shares outstanding (in shares)	27,580,535	27,370,227

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Reconciliation of net income (loss) to cash used by operating activities:
Net income (loss)	$ 6,210	$ (5,218)
Add (deduct):
Depreciation and amortization	15,384	14,906
Adjustments for bad debt provisions	818	590
Net realized and unrealized (gains) losses	(7,038)	1,778
Amortization of net (discount) premium on debt securities investments	(9)	230
Payments for title losses in excess of provisions	(5,432)	(15,797)
Adjustments for insurance recoveries of title losses	208	0
Increase in receivables – net	(12,674)	(13,724)
Increase in other assets – net	(5,582)	(4,506)
Decrease in accounts payable and other liabilities – net	(24,444)	(34,656)
Change in net deferred income taxes	(5)	1,724
Net loss (income) from equity method investments	10	(28)
Dividends received from equity method investments	229	680
Stock-based compensation expense	2,670	2,759
Other – net	67	200
Cash used by operating activities	(29,588)	(51,062)
Investing activities:
Proceeds from sales of investments in securities	20,874	26,772
Proceeds from matured investments in debt securities	6,646	25,338
Purchases of investments in securities	(23,677)	(23,965)
Net purchases of short-term investments	(4,927)	(2,541)
Purchases of property and equipment and other long-lived assets	(10,218)	(8,894)
Proceeds from sale of property and equipment and other assets	8	49
Cash paid for acquisition of businesses	0	(21,500)
Increase in notes receivable	(6,320)	(168)
Purchases of cost-basis and other investments	(29,939)	(89)
Other – net	176	186
Cash used by investing activities	(47,377)	(4,812)
Financing activities:
Proceeds from notes payable	3,387	3,521
Payments on notes payable	(3,378)	(5,589)
Distributions to noncontrolling interests	(3,720)	(3,775)
Repurchases of Common Stock	(3,390)	(1,271)
Proceeds from stock option and employee stock purchase plan exercises	3,583	1,991
Cash dividends paid	(13,067)	(12,260)
Payment of contingent consideration related to acquisitions	(186)	0
Cash used by financing activities	(16,771)	(17,383)
Effects of changes in foreign currency exchange rates	(1,278)	(295)
Change in cash and cash equivalents	(95,014)	(73,552)
Cash and cash equivalents at beginning of period	233,365	248,367
Cash and cash equivalents at end of period	$ 138,351	$ 174,815

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Treasury stock	Noncontrolling interests
Balances at beginning of period at Dec. 31, 2022	$ 1,370,265	$ 27,483	$ 296,861	$ 1,091,816	$ (51,343)	$ (2,666)	$ 8,114
Increase (Decrease) in Stockholders' Equity
Net income (loss) attributable to Stewart	(8,190)			(8,190)
Dividends on Common Stock	(12,306)			(12,306)
Stock-based compensation	2,759	93	2,666
Stock repurchases	(1,271)	(30)	(1,241)
Stock option and employee stock purchase plan exercises	1,991	52	1,939
Change in net unrealized gains and losses on investments, net of taxes	6,617				6,617
Reclassification adjustment for realized gains and losses on investments, net of taxes	92				92
Foreign currency translation adjustments, net of taxes	598				598
Net income attributable to noncontrolling interests	2,972						2,972
Distributions to noncontrolling interests	(3,775)						(3,775)
Balances at end of period at Mar. 31, 2023	1,359,752	27,598	300,225	1,071,320	(44,036)	(2,666)	7,311
Balances at beginning of period at Dec. 31, 2023	1,378,549	27,723	310,728	1,070,841	(35,215)	(2,666)	7,138
Increase (Decrease) in Stockholders' Equity
Net income (loss) attributable to Stewart	3,130			3,130
Dividends on Common Stock	(13,163)			(13,163)
Stock-based compensation	2,670	172	2,498
Stock repurchases	(3,390)	(55)	(3,335)
Stock option and employee stock purchase plan exercises	3,583	93	3,490
Change in net unrealized gains and losses on investments, net of taxes	(2,276)				(2,276)
Reclassification adjustment for realized gains and losses on investments, net of taxes	150				150
Foreign currency translation adjustments, net of taxes	(4,470)				(4,470)
Net income attributable to noncontrolling interests	3,080						3,080
Distributions to noncontrolling interests	(3,720)						(3,720)
Balances at end of period at Mar. 31, 2024	$ 1,364,143	$ 27,933	$ 313,381	$ 1,060,808	$ (41,811)	$ (2,666)	$ 6,498

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends on common stock per share (in usd per share)	$ 0.48	$ 0.45

Interim financial statements

Interim financial statements	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Interim financial statements	Interim financial statements. The financial information contained in this report for the three months ended March 31, 2024 and 2023, and as of March 31, 2024, is unaudited. This report should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission on February 28, 2024 (2023 Form 10-K). A. Management’s responsibility. The accompanying interim financial statements were prepared by management, which is responsible for their integrity and objectivity. These financial statements have been prepared in conformity with the United States (U.S.) generally accepted accounting principles (GAAP), including management’s best judgments and estimates. In the opinion of management, all adjustments necessary for a fair presentation of this information for all interim periods, consisting only of normal recurring accruals, have been made. The Company’s results of operations for interim periods are not necessarily indicative of results for a full year and actual results could differ. B. Consolidation. The condensed consolidated financial statements include all subsidiaries in which the Company owns more than 50% voting rights in electing directors. All significant intercompany amounts and transactions have been eliminated and provisions have been made for noncontrolling interests. Unconsolidated investees, in which the Company typically owns from 20% to 50% of the voting stock, are accounted for using the equity method. C. Restrictions on cash and investments. The Company maintains investments in accordance with certain statutory requirements for the funding of statutory premium reserves. Statutory reserve funds are required to be fully funded and invested in high-quality securities and short-term investments. Statutory reserve funds are not available for current claim payments, which must be funded from c urrent operating cash flow. Included in investments in debt and equity securities are statutory reserve funds of approximately $519.9 million and $527.4 million at March 31, 2024 and December 31, 2023, respectively. In addition, included within cash and cash equivalents are statutory reserve funds of approximately $10.3 million and $10.0 million at March 31, 2024 and December 31, 2023, respectively. Although these cash statutory reserve funds are not restricted or segregated in depository accounts, they are required to be held pursuant to state statutes. If the Company fails to maintain minimum investments or cash and cash equivalents sufficient to meet statutory requirements, the Company may be subject to fines or other penalties, including potential revocation of its business license. These funds are not available for any other purpose. In the event that insurance regulators adjust the determination of the statutory premium reserves of the Company’s title insurers, these restricted funds as well as statutory surplus would correspondingly increase or decrease.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues. The Company's operating revenues, summarized by type, are as follows: Three Months Ended 2024 2023 ($000 omitted) Title insurance premiums: Direct 141,699 130,817 Agency 240,772 249,021 Escrow fees 33,543 32,927 Real estate solutions and abstract fees 97,374 77,160 Other revenues 20,988 29,559 534,376 519,484

Investments in debt and equity

Investments in debt and equity securities	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Investments in debt and equity securities	Investments in debt and equity securities. As of March 31, 2024 and December 31, 2023, the net unrealized investment gains relating to investments in equity securitie s held were $18.4 million and $11.2 million, respectively (refer to Note 5). The amortized costs and fair values of investments in debt securities are as follows: March 31, 2024 December 31, 2023 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 18,725 18,499 22,201 22,031 Corporate 240,573 228,668 242,656 231,474 Foreign 326,560 315,661 332,723 323,391 U.S. Treasury Bonds 34,948 34,229 33,714 33,340 620,806 597,057 631,294 610,236 Foreign debt securities consist of Canadian government, provincial and corporate bonds, United Kingdom treasury and corporate bonds, and Mexican government bonds. Gross unrealized gains and losses on investments in debt securities are as follows: March 31, 2024 December 31, 2023 Gains Losses Gains Losses ($000 omitted) Municipal 2 228 — 170 Corporate 515 12,420 764 11,946 Foreign 858 11,757 1,765 11,097 U.S. Treasury Bonds 25 744 106 480 1,400 25,149 2,635 23,693 Debt securities as of March 31, 2024 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized costs Fair values ($000 omitted) In one year or less 85,105 84,346 After one year through five years 341,785 327,413 After five years through ten years 177,015 169,663 After ten years 16,901 15,635 620,806 597,057 Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2024, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 46 5,628 182 10,619 228 16,247 Corporate 118 14,737 12,302 196,546 12,420 211,283 Foreign 1,079 66,628 10,678 206,074 11,757 272,702 U.S. Treasury Bonds 553 26,207 191 4,886 744 31,093 1,796 113,200 23,353 418,125 25,149 531,325 The number of specific debt investment holdings held in an unrealized loss position as of March 31, 2024 was 332. Of these securities, 255 were in unrealized loss positions for more than 12 months. Total gross unrealized investment losses at March 31, 2024 slightly increased compared to December 31, 2023, primarily due to the continuing high interest rate environment which started in late 2022. Since the Company does not intend to sell and will more likely than not maintain each investment security until its maturity or anticipated recovery in value, and no significant credit risk is deemed to exist, these investments are not considered as credit-impaired. The Company believes its investment portfolio is diversified and expects no material loss to result from the failure to perform by issuers of the debt securities it holds. Investments made by the Company are not collateralized. Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2023, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) 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 Net realized and unrealized gains (losses). Realized and unrealized gains and losses are detailed as follows: Three Months Ended 2024 2023 ($000 omitted) Realized gains 102 61 Realized losses (291) (747) Net unrealized investment gains (losses) recognized on equity securities still held 7,227 (1,092) 7,038 (1,778) Realized losses during the first quarters 2024 and 2023 were primarily related to sales of securities investments. Investment gains and losses recognized related to investments in equity securities are as follows: Three Months Ended 2024 2023 ($000 omitted) Net investment gains (losses) recognized on equity securities during the period 7,234 (1,756) Less: Net realized gains (losses) on equity securities sold during the period 7 (664) Net unrealized investment gains (losses) recognized on equity securities still held 7,227 (1,092) Proceeds from sales of investments in securities are as follows: Three Months Ended 2024 2023 ($000 omitted) Proceeds from sales of debt securities 20,767 7,446 Proceeds from sales of equity securities 107 19,326 Total proceeds from sales of investments in securities 20,874 26,772

Fair value measurements

Fair value measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal, or most advantageous, market for the asset or liability in an orderly transaction between market participants at the measurement date. Under U.S. GAAP, there is a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs when possible. The three levels of inputs used to measure fair value are as follows: • Level 1 – quoted prices in active markets for identical assets or liabilities; • Level 2 – observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data; and • Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair values of the assets or liabilities, including certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. As of March 31, 2024, financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Fair value measurements ($000 omitted) Investments in securities: Debt securities: Municipal — 18,499 18,499 Corporate — 228,668 228,668 Foreign — 315,661 315,661 U.S. Treasury Bonds — 34,229 34,229 Equity securities 76,893 — 76,893 76,893 597,057 673,950 As of December 31, 2023, financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Fair value measurements ($000 omitted) Investments in securities: Debt securities: Municipal — 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 As of March 31, 2024 and 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.

Net realized and unrealized gai

Net realized and unrealized gains (losses)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Net realized and unrealized gains (losses)	Investments in debt and equity securities. As of March 31, 2024 and December 31, 2023, the net unrealized investment gains relating to investments in equity securitie s held were $18.4 million and $11.2 million, respectively (refer to Note 5). The amortized costs and fair values of investments in debt securities are as follows: March 31, 2024 December 31, 2023 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 18,725 18,499 22,201 22,031 Corporate 240,573 228,668 242,656 231,474 Foreign 326,560 315,661 332,723 323,391 U.S. Treasury Bonds 34,948 34,229 33,714 33,340 620,806 597,057 631,294 610,236 Foreign debt securities consist of Canadian government, provincial and corporate bonds, United Kingdom treasury and corporate bonds, and Mexican government bonds. Gross unrealized gains and losses on investments in debt securities are as follows: March 31, 2024 December 31, 2023 Gains Losses Gains Losses ($000 omitted) Municipal 2 228 — 170 Corporate 515 12,420 764 11,946 Foreign 858 11,757 1,765 11,097 U.S. Treasury Bonds 25 744 106 480 1,400 25,149 2,635 23,693 Debt securities as of March 31, 2024 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized costs Fair values ($000 omitted) In one year or less 85,105 84,346 After one year through five years 341,785 327,413 After five years through ten years 177,015 169,663 After ten years 16,901 15,635 620,806 597,057 Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2024, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 46 5,628 182 10,619 228 16,247 Corporate 118 14,737 12,302 196,546 12,420 211,283 Foreign 1,079 66,628 10,678 206,074 11,757 272,702 U.S. Treasury Bonds 553 26,207 191 4,886 744 31,093 1,796 113,200 23,353 418,125 25,149 531,325 The number of specific debt investment holdings held in an unrealized loss position as of March 31, 2024 was 332. Of these securities, 255 were in unrealized loss positions for more than 12 months. Total gross unrealized investment losses at March 31, 2024 slightly increased compared to December 31, 2023, primarily due to the continuing high interest rate environment which started in late 2022. Since the Company does not intend to sell and will more likely than not maintain each investment security until its maturity or anticipated recovery in value, and no significant credit risk is deemed to exist, these investments are not considered as credit-impaired. The Company believes its investment portfolio is diversified and expects no material loss to result from the failure to perform by issuers of the debt securities it holds. Investments made by the Company are not collateralized. Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2023, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) 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 Net realized and unrealized gains (losses). Realized and unrealized gains and losses are detailed as follows: Three Months Ended 2024 2023 ($000 omitted) Realized gains 102 61 Realized losses (291) (747) Net unrealized investment gains (losses) recognized on equity securities still held 7,227 (1,092) 7,038 (1,778) Realized losses during the first quarters 2024 and 2023 were primarily related to sales of securities investments. Investment gains and losses recognized related to investments in equity securities are as follows: Three Months Ended 2024 2023 ($000 omitted) Net investment gains (losses) recognized on equity securities during the period 7,234 (1,756) Less: Net realized gains (losses) on equity securities sold during the period 7 (664) Net unrealized investment gains (losses) recognized on equity securities still held 7,227 (1,092) Proceeds from sales of investments in securities are as follows: Three Months Ended 2024 2023 ($000 omitted) Proceeds from sales of debt securities 20,767 7,446 Proceeds from sales of equity securities 107 19,326 Total proceeds from sales of investments in securities 20,874 26,772

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill. The summary of changes in goodwill is as follows: Title Real Estate Solutions Consolidated Total ($000 omitted) Balances at December 31, 2023 707,935 364,194 1,072,129 Purchase accounting adjustments 186 — 186 Balances at March 31, 2024 708,121 364,194 1,072,315

Estimated title losses

Estimated title losses	3 Months Ended
	Mar. 31, 2024
Loss Contingency [Abstract]
Estimated title losses	Estimated title losses. A summary of estimated title losses for the three months ended March 31 is as follows: 2024 2023 ($000 omitted) Balances at January 1 528,269 549,448 Provisions: Current year 15,104 17,214 Previous policy years 2,279 460 Total provisions 17,383 17,674 Payments, net of recoveries: Current year (4,546) (3,470) Previous policy years (18,269) (30,001) Total payments, net of recoveries (22,815) (33,471) Effects of changes in foreign currency exchange rates (3,608) (236) Balances at March 31 519,229 533,415 Loss ratios as a percentage of title operating revenues: Current year provisions 3.8 % 3.8 % Total provisions 3.9 % 3.9 %

Share-based payments

Share-based payments	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-based payments	Share-based payments. As part of its incentive compensation program for executives and senior management employees, the Company provides share-based awards, which usually include a combination of time-based restricted stock units, performance-based restricted stock units and stock options. Each restricted stock unit represents a contractual right to receive a share of the Company's Common Stock. The time-based units generally vest on each of the first three The compensation expense associated with the share-based awards is calculated based on the fair value of the related award and recognized over the corresponding vesting period.

Earnings per share

Earnings per share	3 Months Ended
	Mar. 31, 2024
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. 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 were vested and issued and stock options were exercised. In periods of net losses, dilutive shares are excluded from the calculation of the diluted EPS and diluted EPS is computed in the same manner as basic EPS. The calculation of the basic and diluted EPS is as follows: Three Months Ended 2024 2023 ($000 omitted, except per share) Numerator: Net income (loss) attributable to Stewart 3,130 (8,190) Denominator (000): Basic average shares outstanding 27,512 27,201 Average number of dilutive shares relating to options 197 — Average number of dilutive shares relating to restricted units 318 — Diluted average shares outstanding 28,027 27,201 Basic earnings (loss) per share attributable to Stewart 0.11 (0.30) Diluted earnings (loss) per share attributable to Stewart 0.11 (0.30)

Contingent liabilities and comm

Contingent liabilities and commitments	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingent liabilities and commitments	Contingent liabilities and commitments. In the ordinary course of business, the Company guarantees the third-party indebtedness of certain of its consolidated subsidiaries. As of March 31, 2024, the maximum potential future payments on the guarantees are not more than the related notes payable recorded in the condensed consolidated balance sheets. The Company also guarantees the indebtedness related to lease obligations of certain of its consolidated subsidiaries. The maximum future obligations arising from these lease-related guaran tees are not more than the Company’s future lease obligations, as presented on the condensed consolidated balance sheets, plus lease operating expenses. As of March 31, 2024, the Company also had unused letters of credit aggregating $4.9 million r elated to workers’ compensation and other insurance. The Company does not expect to make any payments on these guarantees.

Regulatory and legal developmen

Regulatory and legal developments	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Regulatory and legal developments	Regulatory and legal developments. The Company is subject to claims and lawsuits arising in the ordinary course of its business, most of which involve disputed policy claims. In some of these lawsuits, the plaintiffs seek exemplary or treble damages in excess of policy limits. The Company does not expect that any of these ordinary course proceedings will have a material adverse effect on its consolidated financial condition or results of operations. The Company believes that it has adequate reserves for the various litigation matters and contingencies referred to in this paragraph and that the likely resolution of these matters will not materially affect its consolidated financial condition or results of operations. The Company is subject to non-ordinary course of business claims or lawsuits from time to time. To the extent the Company is currently the subject of these types of lawsuits, the Company has determined either that a loss is not reasonably possible or that the estimated loss or range of loss, if any, will not have a material adverse effect on the Company’s financial condition, results of operations or cash flows. Additionally, the Company occasionally receives various inquiries from governmental regulators concerning practices in the insurance industry. Many of these practices do not concern title insurance. To the extent the Company is in receipt of such inquiries, it believes that, where appropriate, it has adequately reserved for these matters and does not anticipate that the outcome of these inquiries will materially affect its consolidated financial condition or results of operations.

Segment information

Segment information	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment information	Segment information. The Company has three reportable operating segments: the title segment, the real estate solutions segment, and the corporate and other segment. The title segment provides services needed to transfer title to property in a real estate transaction and includes services such as searching, abstracting, examining, closing and insuring the condition of the title to the property. In addition, the title segment includes home and personal insurance services, Internal Revenue Code Section 1031 tax-deferred exchanges, and digital customer engagement platform services. The real estate solutions segment supports the real estate industry and primarily includes credit and real estate information services, valuation management services, online notarization and closing services, and search services. The corporate and other segment is primarily comprised of the parent holding company and centralized support services departments. Selected statement of operations information related to these segments is as follows: Three Months Ended 2024 2023 ($000 omitted) Title segment: Revenues 471,352 461,645 Depreciation and amortization 8,729 8,104 Income (loss) before taxes and noncontrolling interest 10,181 (664) Real estate solutions segment: Revenues 83,041 62,625 Depreciation and amortization 6,275 6,300 Income before taxes 6,732 1,366 Corporate and other segment: Revenues (net realized losses) (78) 35 Depreciation and amortization 380 502 Loss before taxes (9,767) (10,858) Consolidated Stewart: Revenues 554,315 524,305 Depreciation and amortization 15,384 14,906 Income (loss) before taxes and noncontrolling interest 7,146 (10,156) The Company does not provide asset information by reportable operating segment as it does not routinely evaluate the asset position by segment. Total revenues generated in the United States and all international operations are as follows: Three Months Ended 2024 2023 ($000 omitted) United States 525,022 497,531 International 29,293 26,774 554,315 524,305

Other comprehensive (loss) inco

Other comprehensive (loss) income	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Other comprehensive (loss) income	Other comprehensive (loss) income. Changes in the balances of each component of other comprehensive (loss) income and the related tax effects are as follows: Three Months Ended Three Months Ended Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount ($000 omitted) Net unrealized gains and losses on investments: Change in net unrealized gains and losses on investments (2,881) (605) (2,276) 8,376 1,759 6,617 Reclassification adjustments for realized gains and losses on investments 190 40 150 116 24 92 (2,691) (565) (2,126) 8,492 1,783 6,709 Foreign currency translation adjustments (5,403) (933) (4,470) 710 112 598 Other comprehensive (loss) income (8,094) (1,498) (6,596) 9,202 1,895 7,307

Interim financial statements (P

Interim financial statements (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Management's responsibility	Management’s responsibility. The accompanying interim financial statements were prepared by management, which is responsible for their integrity and objectivity. These financial statements have been prepared in conformity with the United States (U.S.) generally accepted accounting principles (GAAP), including management’s best judgments and estimates. In the opinion of management, all adjustments necessary for a fair presentation of this information for all interim periods, consisting only of normal recurring accruals, have been made. The Company’s results of operations for interim periods are not necessarily indicative of results for a full year and actual results could differ.
Consolidation	Consolidation. The condensed consolidated financial statements include all subsidiaries in which the Company owns more than 50% voting rights in electing directors. All significant intercompany amounts and transactions have been eliminated and provisions have been made for noncontrolling interests. Unconsolidated investees, in which the Company typically owns from 20% to 50% of the voting stock, are accounted for using the equity method.
Restrictions on cash and investments	Restrictions on cash and investments. The Company maintains investments in accordance with certain statutory requirements for the funding of statutory premium reserves. Statutory reserve funds are required to be fully funded and invested in high-quality securities and short-term investments. Statutory reserve funds are not available for current claim payments, which must be funded from c urrent operating cash flow. Included in investments in debt and equity securities are statutory reserve funds of approximately $519.9 million and $527.4 million at March 31, 2024 and December 31, 2023, respectively. In addition, included within cash and cash equivalents are statutory reserve funds of approximately $10.3 million and $10.0 million at March 31, 2024 and December 31, 2023, respectively. Although these cash statutory reserve funds are not restricted or segregated in depository accounts, they are required to be held pursuant to state statutes. If the Company fails to maintain minimum investments or cash and cash equivalents sufficient to meet statutory requirements, the Company may be subject to fines or other penalties, including potential revocation of its business license. These funds are not available for any other purpose. In the event that insurance regulators adjust the determination of the statutory premium reserves of the Company’s title insurers, these restricted funds as well as statutory surplus would correspondingly increase or decrease.
Fair value measurements	Fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal, or most advantageous, market for the asset or liability in an orderly transaction between market participants at the measurement date. Under U.S. GAAP, there is a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs when possible. The three levels of inputs used to measure fair value are as follows: • Level 1 – quoted prices in active markets for identical assets or liabilities; • Level 2 – observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data; and • Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair values of the assets or liabilities, including certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Operating Revenues	The Company's operating revenues, summarized by type, are as follows: Three Months Ended 2024 2023 ($000 omitted) Title insurance premiums: Direct 141,699 130,817 Agency 240,772 249,021 Escrow fees 33,543 32,927 Real estate solutions and abstract fees 97,374 77,160 Other revenues 20,988 29,559 534,376 519,484

Investments in debt and equit_2

Investments in debt and equity securities (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Costs and Fair Values	The amortized costs and fair values of investments in debt securities are as follows: March 31, 2024 December 31, 2023 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 18,725 18,499 22,201 22,031 Corporate 240,573 228,668 242,656 231,474 Foreign 326,560 315,661 332,723 323,391 U.S. Treasury Bonds 34,948 34,229 33,714 33,340 620,806 597,057 631,294 610,236 Proceeds from sales of investments in securities are as follows: Three Months Ended 2024 2023 ($000 omitted) Proceeds from sales of debt securities 20,767 7,446 Proceeds from sales of equity securities 107 19,326 Total proceeds from sales of investments in securities 20,874 26,772
Schedule of Gross Unrealized Gains and Losses	Gross unrealized gains and losses on investments in debt securities are as follows: March 31, 2024 December 31, 2023 Gains Losses Gains Losses ($000 omitted) Municipal 2 228 — 170 Corporate 515 12,420 764 11,946 Foreign 858 11,757 1,765 11,097 U.S. Treasury Bonds 25 744 106 480 1,400 25,149 2,635 23,693
Schedule of Debt Securities According to Contractual Terms	Debt securities as of March 31, 2024 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized costs Fair values ($000 omitted) In one year or less 85,105 84,346 After one year through five years 341,785 327,413 After five years through ten years 177,015 169,663 After ten years 16,901 15,635 620,806 597,057
Schedule of Gross Unrealized Losses on Investments and Fair Values of Related Securities	Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2024, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 46 5,628 182 10,619 228 16,247 Corporate 118 14,737 12,302 196,546 12,420 211,283 Foreign 1,079 66,628 10,678 206,074 11,757 272,702 U.S. Treasury Bonds 553 26,207 191 4,886 744 31,093 1,796 113,200 23,353 418,125 25,149 531,325 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 ($000 omitted) 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

Fair value measurements (Tables

Fair value measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis	As of March 31, 2024, financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Fair value measurements ($000 omitted) Investments in securities: Debt securities: Municipal — 18,499 18,499 Corporate — 228,668 228,668 Foreign — 315,661 315,661 U.S. Treasury Bonds — 34,229 34,229 Equity securities 76,893 — 76,893 76,893 597,057 673,950 As of December 31, 2023, financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Fair value measurements ($000 omitted) Investments in securities: Debt securities: Municipal — 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

Net realized and unrealized g_2

Net realized and unrealized gains (losses) (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Gross Realized and Unrealized Gains and Losses	Realized and unrealized gains and losses are detailed as follows: Three Months Ended 2024 2023 ($000 omitted) Realized gains 102 61 Realized losses (291) (747) Net unrealized investment gains (losses) recognized on equity securities still held 7,227 (1,092) 7,038 (1,778)
Schedule of Investment Gains and Losses Recognized Related to Investments in Equity Securities	Investment gains and losses recognized related to investments in equity securities are as follows: Three Months Ended 2024 2023 ($000 omitted) Net investment gains (losses) recognized on equity securities during the period 7,234 (1,756) Less: Net realized gains (losses) on equity securities sold during the period 7 (664) Net unrealized investment gains (losses) recognized on equity securities still held 7,227 (1,092)
Schedule of Proceeds from Sale of Investments in Securities	The amortized costs and fair values of investments in debt securities are as follows: March 31, 2024 December 31, 2023 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 18,725 18,499 22,201 22,031 Corporate 240,573 228,668 242,656 231,474 Foreign 326,560 315,661 332,723 323,391 U.S. Treasury Bonds 34,948 34,229 33,714 33,340 620,806 597,057 631,294 610,236 Proceeds from sales of investments in securities are as follows: Three Months Ended 2024 2023 ($000 omitted) Proceeds from sales of debt securities 20,767 7,446 Proceeds from sales of equity securities 107 19,326 Total proceeds from sales of investments in securities 20,874 26,772

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The summary of changes in goodwill is as follows: Title Real Estate Solutions Consolidated Total ($000 omitted) Balances at December 31, 2023 707,935 364,194 1,072,129 Purchase accounting adjustments 186 — 186 Balances at March 31, 2024 708,121 364,194 1,072,315

Estimated title losses (Tables)

Estimated title losses (Tables)	3 Months Ended
	Mar. 31, 2024
Loss Contingency [Abstract]
Schedule of Estimated Title Losses	A summary of estimated title losses for the three months ended March 31 is as follows: 2024 2023 ($000 omitted) Balances at January 1 528,269 549,448 Provisions: Current year 15,104 17,214 Previous policy years 2,279 460 Total provisions 17,383 17,674 Payments, net of recoveries: Current year (4,546) (3,470) Previous policy years (18,269) (30,001) Total payments, net of recoveries (22,815) (33,471) Effects of changes in foreign currency exchange rates (3,608) (236) Balances at March 31 519,229 533,415 Loss ratios as a percentage of title operating revenues: Current year provisions 3.8 % 3.8 % Total provisions 3.9 % 3.9 %

Earnings per share (Tables)

Earnings per share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings per Share	The calculation of the basic and diluted EPS is as follows: Three Months Ended 2024 2023 ($000 omitted, except per share) Numerator: Net income (loss) attributable to Stewart 3,130 (8,190) Denominator (000): Basic average shares outstanding 27,512 27,201 Average number of dilutive shares relating to options 197 — Average number of dilutive shares relating to restricted units 318 — Diluted average shares outstanding 28,027 27,201 Basic earnings (loss) per share attributable to Stewart 0.11 (0.30) Diluted earnings (loss) per share attributable to Stewart 0.11 (0.30)

Segment information (Tables)

Segment information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Selected Statement of Operations Information Related to Segments	Selected statement of operations information related to these segments is as follows: Three Months Ended 2024 2023 ($000 omitted) Title segment: Revenues 471,352 461,645 Depreciation and amortization 8,729 8,104 Income (loss) before taxes and noncontrolling interest 10,181 (664) Real estate solutions segment: Revenues 83,041 62,625 Depreciation and amortization 6,275 6,300 Income before taxes 6,732 1,366 Corporate and other segment: Revenues (net realized losses) (78) 35 Depreciation and amortization 380 502 Loss before taxes (9,767) (10,858) Consolidated Stewart: Revenues 554,315 524,305 Depreciation and amortization 15,384 14,906 Income (loss) before taxes and noncontrolling interest 7,146 (10,156)
Schedule of Revenues Generated in United States and all International Operations	Total revenues generated in the United States and all international operations are as follows: Three Months Ended 2024 2023 ($000 omitted) United States 525,022 497,531 International 29,293 26,774 554,315 524,305

Other comprehensive (loss) in_2

Other comprehensive (loss) income (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Changes in Other Comprehensive Loss	Changes in the balances of each component of other comprehensive (loss) income and the related tax effects are as follows: Three Months Ended Three Months Ended Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount ($000 omitted) Net unrealized gains and losses on investments: Change in net unrealized gains and losses on investments (2,881) (605) (2,276) 8,376 1,759 6,617 Reclassification adjustments for realized gains and losses on investments 190 40 150 116 24 92 (2,691) (565) (2,126) 8,492 1,783 6,709 Foreign currency translation adjustments (5,403) (933) (4,470) 710 112 598 Other comprehensive (loss) income (8,094) (1,498) (6,596) 9,202 1,895 7,307

Interim financial statements (D

Interim financial statements (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Investments restricted for statutory reserve funds	$ 519.9	$ 527.4
Restricted cash and cash equivalent	$ 10.3	$ 10

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Operating revenues	$ 534,376	$ 519,484
Direct
Disaggregation of Revenue [Line Items]
Operating revenues	141,699	130,817
Agency
Disaggregation of Revenue [Line Items]
Operating revenues	240,772	249,021
Escrow fees
Disaggregation of Revenue [Line Items]
Operating revenues	33,543	32,927
Real estate solutions and abstract fees
Disaggregation of Revenue [Line Items]
Operating revenues	97,374	77,160
Other revenues
Disaggregation of Revenue [Line Items]
Operating revenues	$ 20,988	$ 29,559

Investments in debt and equit_3

Investments in debt and equity securities - Additional Information (Details) $ in Millions	Mar. 31, 2024 USD ($) investment	Dec. 31, 2023 USD ($)
Investments, Debt and Equity Securities [Abstract]
Net unrealized investment gains on equity securities held | $	$ 18.4	$ 11.2
Number of investments in an unrealized loss position	332
Number of investments in an unrealized loss positions for more than 12 months	255

Investments in debt and equit_4

Investments in debt and equity securities - Amortized Costs and Fair Values (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized costs	$ 620,806	$ 631,294
Fair values	597,057	610,236
Municipal
Debt Securities, Available-for-sale [Line Items]
Amortized costs	18,725	22,201
Fair values	18,499	22,031
Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized costs	240,573	242,656
Fair values	228,668	231,474
Foreign
Debt Securities, Available-for-sale [Line Items]
Amortized costs	326,560	332,723
Fair values	315,661	323,391
U.S. Treasury Bonds
Debt Securities, Available-for-sale [Line Items]
Amortized costs	34,948	33,714
Fair values	$ 34,229	$ 33,340

Investments in debt and equit_5

Investments in debt and equity securities - Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Gains	$ 1,400	$ 2,635
Losses	25,149	23,693
Municipal
Debt Securities, Available-for-sale [Line Items]
Gains	2	0
Losses	228	170
Corporate
Debt Securities, Available-for-sale [Line Items]
Gains	515	764
Losses	12,420	11,946
Foreign
Debt Securities, Available-for-sale [Line Items]
Gains	858	1,765
Losses	11,757	11,097
U.S. Treasury Bonds
Debt Securities, Available-for-sale [Line Items]
Gains	25	106
Losses	$ 744	$ 480

Investments in debt and equit_6

Investments in debt and equity securities - Debt Securities According to Contractual Terms (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Amortized costs
In one year or less	$ 85,105
After one year through five years	341,785
After five years through ten years	177,015
After ten years	16,901
Amortized costs	620,806	$ 631,294
Fair values
In one year or less	84,346
After one year through five years	327,413
After five years through ten years	169,663
After ten years	15,635
Fair values	$ 597,057	$ 610,236

Investments in debt and equit_7

Investments in debt and equity securities - Gross Unrealized Losses on Investments and Fair Values of Related Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Losses
Less than 12 months	$ 1,796	$ 917
More than 12 months	23,353	22,776
Total	25,149	23,693
Fair values
Less than 12 months	113,200	70,643
More than 12 months	418,125	438,304
Total	531,325	508,947
Municipal
Losses
Less than 12 months	46	50
More than 12 months	182	120
Total	228	170
Fair values
Less than 12 months	5,628	13,022
More than 12 months	10,619	8,383
Total	16,247	21,405
Corporate
Losses
Less than 12 months	118	68
More than 12 months	12,302	11,878
Total	12,420	11,946
Fair values
Less than 12 months	14,737	4,808
More than 12 months	196,546	208,971
Total	211,283	213,779
Foreign
Losses
Less than 12 months	1,079	472
More than 12 months	10,678	10,625
Total	11,757	11,097
Fair values
Less than 12 months	66,628	31,918
More than 12 months	206,074	216,135
Total	272,702	248,053
U.S. Treasury Bonds
Losses
Less than 12 months	553	327
More than 12 months	191	153
Total	744	480
Fair values
Less than 12 months	26,207	20,895
More than 12 months	4,886	4,815
Total	$ 31,093	$ 25,710

Fair value measurements (Detail

Fair value measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities:	$ 597,057	$ 610,236
Equity securities	76,893	69,700
Investments in debt and equity securities	673,950	679,936
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	76,893	69,700
Investments in debt and equity securities	76,893	69,700
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Investments in debt and equity securities	597,057	610,236
Municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities:	18,499	22,031
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:	18,499	22,031
Corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities:	228,668	231,474
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:	228,668	231,474
Foreign
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities:	315,661	323,391
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:	315,661	323,391
U.S. Treasury Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities:	34,229	33,340
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:	$ 34,229	$ 33,340

Net realized and unrealized g_3

Net realized and unrealized gains (losses) - Gross Realized and Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Realized gains	$ 102	$ 61
Realized losses	(291)	(747)
Net unrealized investment gains (losses) recognized on equity securities still held	7,227	(1,092)
Investment and other gains (losses) – net	$ 7,038	$ (1,778)

Net realized and unrealized g_4

Net realized and unrealized gains (losses) - Investment Gains and Losses recognized related to Investments in Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized on equity securities during the period	$ 7,234	$ (1,756)
Less: Net realized gains (losses) on equity securities sold during the period	7	(664)
Net unrealized investment gains (losses) recognized on equity securities still held	$ 7,227	$ (1,092)

Net realized and unrealized g_5

Net realized and unrealized gains (losses) - Proceeds from the Sale of Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales of debt securities	$ 20,767	$ 7,446
Proceeds from sales of equity securities	107	19,326
Total proceeds from sales of investments in securities	$ 20,874	$ 26,772

Goodwill (Details)

Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balances	$ 1,072,129
Purchase accounting adjustments	186
Ending balance	1,072,315
Title
Goodwill [Roll Forward]
Beginning balances	707,935
Purchase accounting adjustments	186
Ending balance	708,121
Real Estate Solutions
Goodwill [Roll Forward]
Beginning balances	364,194
Purchase accounting adjustments	0
Ending balance	$ 364,194

Estimated title losses (Details

Estimated title losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balances at beginning of period	$ 528,269	$ 549,448
Provisions:
Current year	15,104	17,214
Previous policy years	2,279	460
Total provisions	17,383	17,674
Payments, net of recoveries:
Current year	(4,546)	(3,470)
Previous policy years	(18,269)	(30,001)
Total payments, net of recoveries	(22,815)	(33,471)
Effects of changes in foreign currency exchange rates	(3,608)	(236)
Balances at end of period	$ 519,229	$ 533,415
Loss ratios as a percentage of title operating revenues:
Current year provisions	3.80%	3.80%
Total provisions	3.90%	3.90%

Share-based payments (Details)

Share-based payments (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
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
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair value at grant date	$ 13.7	$ 11.4
Granted (in shares)	223,000	278,000
Average grant price (in usd per share)	$ 61.44	$ 40.93

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net income (loss) attributable to Stewart	$ 3,130	$ (8,190)
Denominator (000):
Basic average shares outstanding (in shares)	27,512	27,201
Diluted average shares outstanding (in shares)	28,027	27,201
Basic earnings (loss) per share attributable to Stewart (in usd per share)	$ 0.11	$ (0.30)
Diluted earnings (loss) per share attributable to Stewart (in usd per share)	$ 0.11	$ (0.30)
Stock options
Denominator (000):
Average number of dilutive shares relating to options and restricted units (in shares)	197	0
Restricted stock and restricted stock units
Denominator (000):
Average number of dilutive shares relating to options and restricted units (in shares)	318	0

Contingent liabilities and co_2

Contingent liabilities and commitments (Details) $ in Millions	Mar. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Guarantee of indebtedness, relating to unused letters of credit	$ 4.9

Segment information - Additiona

Segment information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	3

Segment information - Selected

Segment information - Selected Statement of Operations Information Related to Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Revenues (net realized losses)	$ 554,315	$ 524,305
Depreciation and amortization	15,384	14,906
Income (loss) before taxes and noncontrolling interest	7,146	(10,156)
Title segment:
Segment Reporting Information [Line Items]
Revenues (net realized losses)	471,352	461,645
Depreciation and amortization	8,729	8,104
Income (loss) before taxes and noncontrolling interest	10,181	(664)
Real estate solutions segment:
Segment Reporting Information [Line Items]
Revenues (net realized losses)	83,041	62,625
Depreciation and amortization	6,275	6,300
Income (loss) before taxes and noncontrolling interest	6,732	1,366
Corporate and other segment:
Segment Reporting Information [Line Items]
Revenues (net realized losses)	(78)	35
Depreciation and amortization	380	502
Income (loss) before taxes and noncontrolling interest	$ (9,767)	$ (10,858)

Segment information - Revenues

Segment information - Revenues Generated in Domestic and all International Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 554,315	$ 524,305
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	525,022	497,531
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 29,293	$ 26,774

Other comprehensive (loss) in_3

Other comprehensive (loss) income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Before-Tax Amount
Other comprehensive (loss) income	$ (8,094)	$ 9,202
Tax Expense (Benefit)
Other comprehensive (loss) income	(1,498)	1,895
Net-of-Tax Amount
Other comprehensive (loss) income, net of taxes:	(6,596)	7,307
Net unrealized gains and losses on investments
Before-Tax Amount
Change in net unrealized gains and losses on investments	(2,881)	8,376
Reclassification adjustments for realized gains and losses on investments	190	116
Other comprehensive (loss) income	(2,691)	8,492
Tax Expense (Benefit)
Change in net unrealized gains and losses on investments	(605)	1,759
Reclassification adjustments for realized gains and losses on investments	40	24
Other comprehensive (loss) income	(565)	1,783
Net-of-Tax Amount
Change in net unrealized gains and losses on investments	(2,276)	6,617
Reclassification adjustments for realized gains and losses on investments	150	92
Other comprehensive (loss) income, net of taxes:	(2,126)	6,709
Foreign currency translation adjustments
Before-Tax Amount
Other comprehensive (loss) income	(5,403)	710
Tax Expense (Benefit)
Other comprehensive (loss) income	(933)	112
Net-of-Tax Amount
Other comprehensive (loss) income, net of taxes:	$ (4,470)	$ 598