Segment Information

9 Months Ended

Sep. 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 September 30, 2020 and 2019:

Three Months Ended September 30, 2020 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	61,809	$	2,176	$	(2,487)	$	61,498
Investment income	5,627		322		—		5,949
Net realized (loss) gain on investments	(263)		449		—		186
Total revenues	$	67,173	$	2,947	$	(2,487)	$	67,633
Operating expenses	49,260		1,858		(2,342)		48,776
Income before income taxes	$	17,913	$	1,089	$	(145)	$	18,857
Total assets	$	213,152	$	76,593	$	—	$	289,745

Three Months Ended September 30, 2019 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	44,079	$	2,851	$	(1,684)	$	45,246
Investment income	1,879		391		—		2,270
Net realized gain on investments	346		77		—		423
Total revenues	$	46,304	$	3,319	$	(1,684)	$	47,939
Operating expenses	37,201		2,269		(1,550)		37,920
Income before income taxes	$	9,103	$	1,050	$	(134)	$	10,019
Total assets	$	191,436	$	74,678	$	—	$	266,114

Nine Months Ended September 30, 2020 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	154,820	$	7,149	$	(5,725)	$	156,244
Investment income	2,525		186		—		2,711
Net realized gain on investments	327		—		—		327
Total revenues	$	157,672	$	7,335	$	(5,725)	$	159,282
Operating expenses	129,777		6,543		(5,288)		131,032
Income before income taxes	$	27,895	$	792	$	(437)	$	28,250
Total assets	$	213,152	$	76,593	$	—	$	289,745

Nine Months Ended September 30, 2019 (in thousands)	Title Insurance		All Other		Intersegment Eliminations		Total
Insurance and other services revenues	$	113,999	$	8,373	$	(4,820)	$	117,552
Investment income	9,780		2,087		—		11,867
Net realized gain on investments	1,102		97		—		1,199
Total revenues	$	124,881	$	10,557	$	(4,820)	$	130,618
Operating expenses	102,792		6,991		(4,417)		105,366
Income before income taxes	$	22,089	$	3,566	$	(403)	$	25,252
Total assets	$	191,436	$	74,678	$	—	$	266,114