Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company has one reportable segment, title insurance services. The remaining immaterial segments have been combined into a group called “All Other.”

The title insurance segment primarily issues title insurance policies through approved attorneys from underwriting offices and through independent issuing agents. Title insurance policies insure titles to real estate.

Provided below is selected financial information about the Company's operations by segment for the periods ended June 30, 2020 and 2019:

Three Months Ended June 30, 2020 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	51,158	$	2,168	$	(1,734)	$	51,592
Investment income	8,358		1,245		—		9,603
Net realized gain on investments	527		26		—		553
Total revenues	$	60,043	$	3,439	$	(1,734)	$	61,748
Operating expenses	43,074		2,340		(1,588)		43,826
Income before income taxes	$	16,969	$	1,099	$	(146)	$	17,922
Total assets	$	204,523	$	75,385	$	—	$	279,908

Three Months Ended June 30, 2019 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	38,601	$	2,831	$	(1,946)	$	39,486
Investment income	2,471		790		—		3,261
Net realized loss on investments	(8)		(6)		—		(14)
Total revenues	$	41,064	$	3,615	$	(1,946)	$	42,733
Operating expenses	35,139		2,485		(1,811)		35,813
Income before income taxes	$	5,925	$	1,130	$	(135)	$	6,920
Total assets	$	187,754	$	68,740	$	—	$	256,494

Six Months Ended June 30, 2020 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	93,011	$	4,973	$	(3,238)	$	94,746
Investment loss	(3,102)		(136)		—		(3,238)
Net realized gain (loss) on investments	590		(449)		—		141
Total revenues	$	90,499	$	4,388	$	(3,238)	$	91,649
Operating expenses	80,517		4,685		(2,946)		82,256
Income (loss) before income taxes	$	9,982	$	(297)	$	(292)	$	9,393
Total assets	$	204,523	$	75,385	$	—	$	279,908

Six Months Ended June 30, 2019 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	69,920	$	5,522	$	(3,136)	$	72,306
Investment income	7,901		1,696		—		9,597
Net realized gain on investments	756		20		—		776
Total revenues	$	78,577	$	7,238	$	(3,136)	$	82,679
Operating expenses	65,591		4,722		(2,867)		67,446
Income before income taxes	$	12,986	$	2,516	$	(269)	$	15,233
Total assets	$	187,754	$	68,740	$	—	$	256,494