STEWART INFORMATION SERVICES CORP, 10-K filed on 2/27/2026
Annual Report
v3.25.4
Cover Page - USD ($)
$ in Billions
12 Months Ended
Dec. 31, 2025
Feb. 16, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
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     $ 1.8
Entity Common Stock, Shares Outstanding   30,419,415  
Documents Incorporated by Reference
Portions of the definitive proxy statement (the Proxy Statement), in connection with the Registrant's 2026 Annual Meeting of Stockholders, are incorporated herein by reference in Part III of this document.
   
Entity Central Index Key 0000094344    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.25.4
Audit Information
12 Months Ended
Dec. 31, 2025
Auditor Information [Abstract]  
Auditor Name KPMG LLP
Auditor Location Houston, Texas
Auditor Firm ID 185
v3.25.4
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues      
Operating revenues $ 2,858,301 $ 2,422,112 $ 2,212,240
Investment income 57,776 55,370 45,135
Net realized and unrealized gains (losses) 5,559 12,937 (34)
Revenues 2,921,636 2,490,419 2,257,341
Expenses      
Amounts retained by agencies 1,047,660 864,807 813,519
Employee costs 830,594 745,405 712,794
Other operating expenses 714,626 603,959 507,701
Title losses and related claims 81,668 80,411 80,282
Depreciation and amortization 61,070 61,612 62,447
Interest 20,444 19,914 19,737
Total expenses 2,756,062 2,376,108 2,196,480
Income before taxes and noncontrolling interests 165,574 114,311 60,861
Income tax expense (35,411) (26,155) (15,263)
Net income 130,163 88,156 45,598
Less net income attributable to noncontrolling interests 14,628 14,846 15,159
Net income attributable to Stewart 115,535 73,310 30,439
Net income attributable to Stewart      
Net income 130,163 88,156 45,598
Other comprehensive income (loss), net of taxes:      
Foreign currency translation adjustments 11,522 (14,807) 5,277
Change in net unrealized gains and losses on investments 8,435 5,521 10,461
Reclassification adjustment for realized gains and losses on investments 1,532 1,104 390
Other comprehensive income (loss), net of taxes 21,489 (8,182) 16,128
Comprehensive income 151,652 79,974 61,726
Less comprehensive income attributable to noncontrolling interests 14,628 14,846 15,159
Comprehensive income attributable to Stewart $ 137,024 $ 65,128 $ 46,567
Basic average shares outstanding (in shares) 28,069 27,628 27,293
Basic earnings per share attributable to Stewart (in usd per share) $ 4.12 $ 2.65 $ 1.12
Diluted average shares outstanding (in shares) 28,560 28,129 27,520
Diluted earnings per share attributable to Stewart (in usd per share) $ 4.05 $ 2.61 $ 1.11
Direct title revenues      
Revenues      
Title revenues: $ 1,157,478 $ 1,020,380 $ 962,674
Agency title revenues      
Revenues      
Title revenues: 1,262,568 1,043,173 985,989
Real estate solutions      
Revenues      
Real estate solutions $ 438,255 $ 358,559 $ 263,577
v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 321,775 $ 216,298
Short-term investments 47,899 41,199
Investments in debt and equity securities, at fair value:    
Debt securities (amortized cost of $558,544 and $599,287, respectively) 558,488 586,615
Equity securities 47,682 82,484
Investments in debt and equity securities, at fair value 606,170 669,099
Receivables:    
Premiums from agencies 38,286 36,753
Trade and other 116,626 87,671
Income taxes 3,145 3,100
Notes 39,812 20,964
Allowance for credit losses (7,805) (7,725)
Total receivables 190,064 140,763
Property and equipment, at cost:    
Land 1,597 2,545
Buildings and improvements 16,231 19,836
Furniture and equipment 259,581 245,432
Accumulated depreciation (192,079) (180,200)
Total property and equipment, at cost 85,330 87,613
Operating lease assets 106,034 102,210
Title plants, at cost 81,670 74,862
Investments in investees, on an equity method basis 4,932 4,581
Goodwill 1,271,958 1,084,139
Intangible assets, net of amortization 325,135 173,075
Deferred tax assets, net 7,656 4,827
Other assets 204,182 131,479
Total assets 3,252,805 2,730,145
Liabilities    
Notes payable and line of credit 646,606 445,841
Accounts payable and accrued liabilities 255,852 214,580
Operating lease liabilities 122,153 118,835
Estimated title losses 524,473 511,534
Deferred tax liabilities, net 53,323 28,266
Total liabilities 1,602,407 1,319,056
Contingent liabilities and commitments
Stockholders’ equity    
Common Stock – $1 par, authorized 51,500,000; issued 30,575,472 and 28,115,852; outstanding 30,223,311 and 27,763,691, respectively 30,577 28,117
Additional paid-in capital 489,666 330,604
Retained earnings 1,145,415 1,089,484
Accumulated other comprehensive loss:    
Foreign currency translation adjustments (21,864) (33,386)
Net unrealized losses on debt securities investments (44) (10,011)
Treasury stock – 352,161 common shares, at cost, for both 2025 and 2024 (including 145,820 shares held by a subsidiary) (2,666) (2,666)
Total stockholders’ equity attributable to Stewart 1,641,084 1,402,142
Noncontrolling interests 9,314 8,947
Total stockholders’ equity 1,650,398 1,411,089
Total liabilities and stockholders' equity $ 3,252,805 $ 2,730,145
v3.25.4
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Amortized cost $ 558,544 $ 599,287
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) 30,575,472 28,115,852
Common stock, shares outstanding (in shares) 30,223,311 27,763,691
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
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of net income to cash provided by operating activities:      
Net income $ 130,163 $ 88,156 $ 45,598
Adjustments for:      
Depreciation and amortization 61,070 61,612 62,447
Provision for credit losses on receivables 2,318 2,214 2,425
Net realized and unrealized (gains) losses (5,559) (12,937) 34
Amortization of net (discount) premium on debt securities investments (1,509) (792) 486
Payments for title losses less than (in excess of) provisions 4,821 (5,010) (24,035)
Adjustments for insurance recoveries of title losses 0 208 (208)
Increase in receivables – net (14,840) (12,054) (5,355)
(Increase) decrease in other assets – net (20,129) (17,529) 3,178
Increase (decrease) in payables and accrued liabilities – net 23,768 13,325 (6,432)
Change in net deferred income taxes 8,274 4,487 (6,772)
Net income from equity investees (2,465) (1,759) (1,071)
Dividends received from equity investees 2,176 1,443 1,408
Stock-based compensation expense 17,100 13,564 10,920
Other – net 500 681 419
Cash provided by operating activities 205,688 135,609 83,042
Investing activities:      
Proceeds from sales of investments in securities 140,879 36,582 60,457
Proceeds from matured investments in debt securities 73,817 94,003 71,753
Purchases of investments in securities (112,100) (121,498) (78,017)
Net purchases of short-term investments (4,152) (4,736) (14,275)
Purchases of property and equipment and other long-lived assets (73,409) (40,468) (37,791)
Cash paid for acquisition of businesses and related assets (370,011) (14,383) (25,100)
Increase in notes receivable (21,718) (8,320) (8,040)
Purchases of cost-basis and other investments (8,751) (31,593) (1,015)
Other – net 6,864 3,150 2,059
Cash used by investing activities (368,581) (87,263) (29,969)
Financing activities:      
Proceeds from notes payable and line of credit 201,175 3,387 3,538
Payments on notes payable (1,224) (3,378) (5,776)
Cash dividends paid (58,485) (53,916) (50,523)
Distributions to noncontrolling interests (13,921) (13,091) (16,135)
Payment of acquisition contingent consideration (5,437) (720) (3,390)
Issuance of Common Stock 140,807 0 0
Repurchases of Common Stock (3,887) (3,844) (1,783)
Proceeds from stock option and employee stock purchase plan exercises 7,502 10,550 4,970
Other - net (1,320) 54 0
Cash provided (used) by financing activities 265,210 (60,958) (69,099)
Effects of changes in foreign currency exchange rates 3,160 (4,455) 1,024
Net change in cash and cash equivalents 105,477 (17,067) (15,002)
Cash and cash equivalents at beginning of year 216,298 233,365 248,367
Cash and cash equivalents at end of year 321,775 216,298 233,365
Net changes in financial statement amounts due to acquisition of businesses and other related assets and purchase accounting adjustments:      
Goodwill acquired (adjusted) 187,819 12,853 (706)
Intangible assets acquired 183,980 12,000 28,710
Receivables and other assets acquired 22,309 37 296
Fixed assets and title plants (adjusted) acquired 1,825 0 (225)
Liabilities recognized (25,922) (10,507) (2,975)
Net cash paid for acquisition of businesses and related assets 370,011 14,383 25,100
Income taxes paid, net 24,296 25,766 5,345
Interest paid $ 17,771 $ 17,460 $ 17,169
v3.25.4
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, 2022 $ 1,370,265 $ 27,483 $ 296,861 $ (51,343) $ 1,091,816 $ (2,666) $ 8,114
Increase (Decrease) in Stockholders' Equity              
Net income attributable to Stewart 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
Increase (Decrease) in Stockholders' Equity              
Net income attributable to Stewart 73,310       73,310    
Dividends on Common Stock (54,667)       (54,667)    
Stock-based compensation 13,564 209 13,355        
Stock option and employee stock purchase plan exercises 10,550 247 10,303        
Stock repurchases (3,844) (62) (3,782)        
Change in net unrealized gains and losses on investments, net of taxes 5,521     5,521      
Reclassification adjustment for realized gains and losses on investments, net of taxes 1,104     1,104      
Foreign currency translation adjustments (net of tax) (14,807)     (14,807)      
Net income attributable to noncontrolling interests 14,846           14,846
Distributions to noncontrolling interests (13,091)           (13,091)
Net effect of changes in ownership and other 54           54
Ending balance at Dec. 31, 2024 1,411,089 28,117 330,604 (43,397) 1,089,484 (2,666) 8,947
Increase (Decrease) in Stockholders' Equity              
Net income attributable to Stewart 115,535       115,535    
Dividends on Common Stock (59,604)       (59,604)    
Issuance of Common Stock 140,807 2,185 138,622        
Stock-based compensation 17,100 192 16,908        
Stock option and employee stock purchase plan exercises 7,502 139 7,363        
Stock repurchases (3,887) (56) (3,831)        
Change in net unrealized gains and losses on investments, net of taxes 8,435     8,435      
Reclassification adjustment for realized gains and losses on investments, net of taxes 1,532     1,532      
Foreign currency translation adjustments (net of tax) 11,522     11,522      
Net income attributable to noncontrolling interests 14,628           14,628
Distributions to noncontrolling interests (13,921)           (13,921)
Net effect of changes in ownership and other (340)           (340)
Ending balance at Dec. 31, 2025 $ 1,650,398 $ 30,577 $ 489,666 $ (21,908) $ 1,145,415 $ (2,666) $ 9,314
v3.25.4
CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]      
Dividends on common stock per share (in usd per share) $ 2.05 $ 1.95 $ 1.85
v3.25.4
General
12 Months Ended
Dec. 31, 2025
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 credit and real estate information services, property preservation and field services, valuation management services, online notarization and closing services, and search 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 53% of consolidated title revenues for the year ended December 31, 2025 were generated in Texas, New York, Ohio, California, Florida, Michigan, 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 title insurance 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 title insurance 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 from 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 credit and real estate information services, property preservation and field services, appraisal management services, online notarization and closing services, and abstract services. 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, respectively. Property preservation and field services are related to property inspections, preservation, maintenance, registrations and other mortgage-related services performed for lenders and mortgage servicers. 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. 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 recorded reserve amount is not at the third-party actuarial point estimate, but is within a reasonable range (+7.0%/-4.0%) of the actuary’s point estimate, the Company’s management assesses the 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, building improvements - 5 to 10 years, and furniture and equipment (which includes internal-use software in operation) – 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 a June 30 measurement date, 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 2025 and 2024, and determined that goodwill related to each of its reporting units was not impaired.

M. Other intangibles. Other intangible assets are comprised primarily of customer relationships, acquired technology and acquired trademarks and licenses. Intangible assets are amortized over their estimated lives: 10 to 25 years for customer relationships, 5 to 7 years for acquired technology, and 3 years to indefinite for acquired trademarks and licenses. 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 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, if any, are included in furniture and equipment and notes payable and line of credit on the consolidated balance sheets. Operating lease assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The discount rate used in determining the present value of the future lease payments is based on the Company's incremental borrowing rate and is applied using a portfolio approach. Lease options to extend or terminate that the Company is reasonably certain to exercise are considered in the present value calculation. Leasehold improvements are included in furniture and equipment and depreciated over the lease term or the useful life of the asset, whichever is shorter.

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.

R. Recently adopted accounting standards. In December 2023, the Financial Accounting Standards Board issued Accounting Standards Update No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which improves the transparency of income tax disclosures requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. ASU 2023-09 also includes certain other amendments to improve the effectiveness of income tax disclosures. The Company adopted ASU 2023-09 for the 2025 annual reporting and applied retrospective disclosures for all prior periods presented. The adoption of ASU 2023-09 did not have a material impact on the Company's consolidated financial statements, except for the disclosure requirements provided in Note 7, Income taxes.
v3.25.4
Restrictions on cash and investments
12 Months Ended
Dec. 31, 2025
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 $492.0 million and $535.5 million at December 31, 2025 and 2024, respectively. In addition, included within cash and cash equivalents are statutory reserve funds of approximately $4.4 million and $9.5 million at December 31, 2025 and 2024, 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).
v3.25.4
Statutory surplus and dividend restrictions
12 Months Ended
Dec. 31, 2025
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 $173.0 million and $30.0 million of dividends to its parent company during 2025 and 2024, respectively. The maximum dividend that can be paid, on a rolling twelve-month period and subject to the timing of 2025 dividends paid, without the TIC's approval in 2026 is approximately $165.4 million, which is based on the greater of 2025 net operating income or 20% of statutory surplus as December 31, 2025.

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 $827.0 million and $865.1 million at December 31, 2025 and 2024, respectively. Statutory net income for Guaranty was $151.0 million, $67.5 million and $65.1 million in 2025, 2024 and 2023, 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, 2025, and each of its underwriter entities was in compliance with such requirements as of December 31, 2025.
v3.25.4
Investments in debt and equity securities
12 Months Ended
Dec. 31, 2025
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:
 20252024
(in $ thousands)
Investments in:
Debt securities558,488 586,615 
Equity securities47,682 82,484 
606,170 669,099 

As of December 31, 2025 and 2024, included in the above fair values of investments in equity securities were net unrealized investment gains of $14.8 million and $23.2 million, respectively.
The amortized costs and fair values of investments in debt securities as of December 31, are as follows:
 20252024
 Amortized
costs
Fair
values
Amortized
costs
Fair
values
 (in $ thousands)
Municipal12,292 12,274 14,563 14,415 
Corporate144,571 143,621 219,015 210,307 
Foreign347,588 348,084 316,247 313,619 
U.S. Treasury Bonds54,093 54,509 49,462 48,274 
558,544 558,488 599,287 586,615 

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 $296.8 million and $273.3 million as of December 31, 2025 and 2024, respectively, and United Kingdom treasury and corporate bonds with aggregate fair values of $41.4 million and $30.8 million as of December 31, 2025 and 2024, respectively.

Gross unrealized gains and losses on investments in debt securities at December 31, were:
 20252024
 GainsLossesGainsLosses
 (in $ thousands)
Municipal23 149 
Corporate1,646 2,596 524 9,232 
Foreign3,645 3,149 2,979 5,607 
U.S. Treasury Bonds543 127 1,193 
5,839 5,895 3,509 16,181 

Debt securities at December 31, 2025 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights):
Amortized
costs
Fair
values
 (in $ thousands)
In one year or less85,205 85,086 
After one year through five years270,602 270,764 
After five years through ten years187,305 188,269 
After ten years15,432 14,369 
558,544 558,488 
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, 2025, were:
 Less than 12 monthsMore than 12 monthsTotal
 LossesFair valuesLossesFair valuesLossesFair values
 (in $ thousands)
Municipal2,621 19 5,918 23 8,539 
Corporate10,284 2,587 71,989 2,596 82,273 
Foreign364 43,539 2,785 119,970 3,149 163,509 
U.S. Treasury Bonds36 8,720 91 6,425 127 15,145 
413 65,164 5,482 204,302 5,895 269,466 
The number of specific debt securities investment holdings in an unrealized loss position as of December 31, 2025 was 156. Of these securities, 113 were in unrealized loss positions for more than 12 months. Gross unrealized investment losses at December 31, 2025 decreased compared to December 31, 2024, primarily influenced by lower interest rates during 2025. 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, 2024, were:
 
 Less than 12 monthsMore than 12 monthsTotal
 LossesFair valuesLossesFair valuesLossesFair values
 (in $ thousands)
Municipal32 5,204 117 7,960 149 13,164 
Corporate194 19,253 9,038 168,289 9,232 187,542 
Foreign349 32,664 5,258 145,656 5,607 178,320 
U.S. Treasury Bonds878 33,689 315 12,142 1,193 45,831 
1,453 90,810 14,728 334,047 16,181 424,857 
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:
202520242023
 (in $ thousands)
Investment income:
Debt securities20,128 19,198 16,274 
Equity securities, short-term investments, cash equivalents and other37,648 36,172 28,861 
57,776 55,370 45,135 
Net realized and unrealized gains (losses):
Realized gains6,904 3,039 3,407 
Realized losses(6,510)(2,737)(5,510)
Net unrealized investment gains recognized on equity securities still held
5,165 12,635 2,069 
5,559 12,937 (34)


In 2025, net realized and unrealized gains included net gains of $4.4 million on sale of debt and equity securities, partially offset by net losses of $2.0 million related to contingent liability adjustments related to prior title acquisitions and $2.9 million related to disposal of a title subsidiary. Total investment income in 2025 and 2024 was higher compared to 2023, primarily due to higher interest income resulting from earned interest from eligible escrow balances (which started at mid-2023) and higher cash, short-term investment and notes receivable balances.

In 2024, net realized and unrealized gains included a $2.4 million gain on a contingent liability adjustment related to a prior title company acquisition, partially offset by losses of $1.1 million related to a cost-basis investment impairment and $0.8 million related to a sale of a title office.

Net investment gains and losses recognized related to investments in equity securities for the years ended December 31 are as follows:
202520242023
(in $ thousands)
Net investment gains recognized on equity securities during the period
11,192 12,855 3,044 
Less: Net realized gains on equity securities sold during the period
6,027 220 975 
Net unrealized investment gains recognized on equity securities still held
5,165 12,635 2,069 

Proceeds from sales of investments in securities for the years ended December 31 are as follows:
202520242023
 (in $ thousands)
Proceeds from sales of debt securities94,360 35,304 21,909 
Proceeds from sales of equity securities46,519 1,278 38,548 
Total proceeds from sales of investments in securities140,879 36,582 60,457 
v3.25.4
Fair value measurements
12 Months Ended
Dec. 31, 2025
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, 2025, financial instruments measured at fair value on a recurring basis are summarized below:
Level 1Level 2Level 3Fair value
measurements
 (in $ thousands)
Investments in securities:
Debt securities:
Municipal— 12,274 — 12,274 
Corporate— 143,621 — 143,621 
Foreign— 348,084 — 348,084 
U.S. Treasury Bonds— 54,509 — 54,509 
Equity securities:47,682 — — 47,682 
47,682 558,488 — 606,170 
At December 31, 2024, financial instruments measured at fair value on a recurring basis are summarized below:
Level 1Level 2Level 3Fair value
measurements
 (in $ thousands)
Investments in securities:
Debt securities:
Municipal— 14,415 — 14,415 
Corporate— 210,307 — 210,307 
Foreign— 313,619 — 313,619 
U.S. Treasury Bonds— 48,274 — 48,274 
Equity securities:82,484 — — 82,484 
82,484 586,615 — 669,099 

At December 31, 2025, 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.
v3.25.4
Investment income and net realized and unrealized gains
12 Months Ended
Dec. 31, 2025
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:
 20252024
(in $ thousands)
Investments in:
Debt securities558,488 586,615 
Equity securities47,682 82,484 
606,170 669,099 

As of December 31, 2025 and 2024, included in the above fair values of investments in equity securities were net unrealized investment gains of $14.8 million and $23.2 million, respectively.
The amortized costs and fair values of investments in debt securities as of December 31, are as follows:
 20252024
 Amortized
costs
Fair
values
Amortized
costs
Fair
values
 (in $ thousands)
Municipal12,292 12,274 14,563 14,415 
Corporate144,571 143,621 219,015 210,307 
Foreign347,588 348,084 316,247 313,619 
U.S. Treasury Bonds54,093 54,509 49,462 48,274 
558,544 558,488 599,287 586,615 

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 $296.8 million and $273.3 million as of December 31, 2025 and 2024, respectively, and United Kingdom treasury and corporate bonds with aggregate fair values of $41.4 million and $30.8 million as of December 31, 2025 and 2024, respectively.

Gross unrealized gains and losses on investments in debt securities at December 31, were:
 20252024
 GainsLossesGainsLosses
 (in $ thousands)
Municipal23 149 
Corporate1,646 2,596 524 9,232 
Foreign3,645 3,149 2,979 5,607 
U.S. Treasury Bonds543 127 1,193 
5,839 5,895 3,509 16,181 

Debt securities at December 31, 2025 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights):
Amortized
costs
Fair
values
 (in $ thousands)
In one year or less85,205 85,086 
After one year through five years270,602 270,764 
After five years through ten years187,305 188,269 
After ten years15,432 14,369 
558,544 558,488 
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, 2025, were:
 Less than 12 monthsMore than 12 monthsTotal
 LossesFair valuesLossesFair valuesLossesFair values
 (in $ thousands)
Municipal2,621 19 5,918 23 8,539 
Corporate10,284 2,587 71,989 2,596 82,273 
Foreign364 43,539 2,785 119,970 3,149 163,509 
U.S. Treasury Bonds36 8,720 91 6,425 127 15,145 
413 65,164 5,482 204,302 5,895 269,466 
The number of specific debt securities investment holdings in an unrealized loss position as of December 31, 2025 was 156. Of these securities, 113 were in unrealized loss positions for more than 12 months. Gross unrealized investment losses at December 31, 2025 decreased compared to December 31, 2024, primarily influenced by lower interest rates during 2025. 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, 2024, were:
 
 Less than 12 monthsMore than 12 monthsTotal
 LossesFair valuesLossesFair valuesLossesFair values
 (in $ thousands)
Municipal32 5,204 117 7,960 149 13,164 
Corporate194 19,253 9,038 168,289 9,232 187,542 
Foreign349 32,664 5,258 145,656 5,607 178,320 
U.S. Treasury Bonds878 33,689 315 12,142 1,193 45,831 
1,453 90,810 14,728 334,047 16,181 424,857 
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:
202520242023
 (in $ thousands)
Investment income:
Debt securities20,128 19,198 16,274 
Equity securities, short-term investments, cash equivalents and other37,648 36,172 28,861 
57,776 55,370 45,135 
Net realized and unrealized gains (losses):
Realized gains6,904 3,039 3,407 
Realized losses(6,510)(2,737)(5,510)
Net unrealized investment gains recognized on equity securities still held
5,165 12,635 2,069 
5,559 12,937 (34)


In 2025, net realized and unrealized gains included net gains of $4.4 million on sale of debt and equity securities, partially offset by net losses of $2.0 million related to contingent liability adjustments related to prior title acquisitions and $2.9 million related to disposal of a title subsidiary. Total investment income in 2025 and 2024 was higher compared to 2023, primarily due to higher interest income resulting from earned interest from eligible escrow balances (which started at mid-2023) and higher cash, short-term investment and notes receivable balances.

In 2024, net realized and unrealized gains included a $2.4 million gain on a contingent liability adjustment related to a prior title company acquisition, partially offset by losses of $1.1 million related to a cost-basis investment impairment and $0.8 million related to a sale of a title office.

Net investment gains and losses recognized related to investments in equity securities for the years ended December 31 are as follows:
202520242023
(in $ thousands)
Net investment gains recognized on equity securities during the period
11,192 12,855 3,044 
Less: Net realized gains on equity securities sold during the period
6,027 220 975 
Net unrealized investment gains recognized on equity securities still held
5,165 12,635 2,069 

Proceeds from sales of investments in securities for the years ended December 31 are as follows:
202520242023
 (in $ thousands)
Proceeds from sales of debt securities94,360 35,304 21,909 
Proceeds from sales of equity securities46,519 1,278 38,548 
Total proceeds from sales of investments in securities140,879 36,582 60,457 
v3.25.4
Income taxes
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income taxes
Income taxes. As described in Note 1-R, additional disclosures below are presented pursuant to the requirements of ASU 2023-09. Amounts for 2024 and 2023, where applicable, were recast to conform with the 2025 presentation.

Income tax expense consists of the following:
202520242023
 (in $ thousands)
Current income tax expense:
Federal12,555 7,170 5,638 
State583 955 62 
Foreign13,999 13,409 16,347 
27,137 21,534 22,047 
Deferred income tax expense (benefit):
Federal11,587 6,536 (1,919)
State(1,852)(179)107 
Foreign(1,461)(1,736)(4,972)
8,274 4,621 (6,784)
Total income tax expense35,411 26,155 15,263 

The components of income before taxes and after deducting noncontrolling interests are as follows:

202520242023
 (in $ thousands)
Domestic
107,710 56,657 4,980 
Foreign43,236 42,808 40,722 
150,946 99,465 45,702 

Income taxes paid (net of refunds received) by jurisdiction consists of the following:

202520242023
 (in $ thousands)
Federal
7,200 6,960 (6,085)
State
1,756 1,595 1,615 
Foreign:
Canada
9,332 13,710 6,707 
Australia
5,708 2,951 2,156 
Mexico
— 261 738 
Other
300 289 214 
Total income taxes paid, net
24,296 25,766 5,345 
The following table reconciles income tax expense computed at the federal statutory rate with income tax expense as reported using specific categories required by ASU 2023-09. Additionally, categories of at least 5% of the expected tax expense are disaggregated by nature or jurisdiction (in $ thousands, except for income tax rates):
 
202520242023
Amount
Percent*
Amount
Percent*
Amount
Percent*
U.S. federal statutory tax rate (1)
31,698 21.0 %20,888 21.0 %9,597 21.0 %
State income tax expense, net of federal benefit (2)
(1,392)(0.9)%576 0.6 %156 0.3 %
Foreign tax effects:
Canada:
Foreign income tax rate differential1,836 1.2 %1,787 1.8 %1,800 3.9 %
Other (496)(0.3)%147 0.1 %326 0.7 %
Australia:
Foreign income tax rate differential1,114 0.7 %905 0.9 %694 1.5 %
Other28 0.0 %(205)(0.2)%205 0.5 %
Other:
976 0.6 %(173)(0.2)%(332)(0.7)%
Effect of changes in laws and tax rates
(2,813)(1.9)%— — %— — %
Effect of cross-border tax laws
Net benefit for the Canadian branch (3)
(856)(0.6)%(2,951)(3.0)%(5,197)(11.4)%
Tax credits
Research and development credits(1,730)(1.2)%(1,850)(1.9)%(1,431)(3.1)%
Change in valuation allowance
1,805 1.2 %3,650 3.7 %5,843 12.8 %
Non-taxable or nondeductible items
Meals and entertainment
1,377 0.9 %1,224 1.2 %1,042 2.3 %
Excess covered employee compensation
1,986 1.3 %1,706 1.7 %683 1.5 %
Share-based compensation758 0.5 %333 0.3 %1,326 2.9 %
Return-to-provision adjustments 557 0.4 %379 0.4 %1,517 3.3 %
Amended return adjustments — — %— — %(1,123)(2.5)%
Other — net284 0.2 %(753)(0.8)%(114)(0.3)%
Change in uncertain tax positions
279 0.2 %492 0.5 %271 0.6 %
Income tax expense35,411 23.5 %26,155 26.3 %15,263 33.4 %

(1) Calculated using income before taxes and after deducting noncontrolling interests.
(2) State taxes in Alaska, Arizona, California, Illinois, Pennsylvania, and Texas comprise the majority (greater than 50%) of the tax effect in this category.
(3) 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.
* Amounts presented are rounded to the nearest tenth of a percent and may not foot as presented.
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 on the consolidated balance sheets. Deferred tax assets and liabilities (netted based on the related temporary difference components) as of December 31 are detailed below.

20252024
 (in $ thousands)
Deferred tax assets:
Net operating loss (NOL) carryforwards35,541 24,917 
Accrued expenses32,025 21,842 
Tax credit carryforwards17,006 15,201 
Foreign currency translation adjustments6,937 6,260 
Federal offset to Canadian deferred tax liability6,273 7,166 
Interest expense carryforward related to an acquisition
2,535 — 
Allowance for credit losses1,711 1,741 
Investments942 819 
Capitalized research and development costs— 6,722 
Other83 230 
Deferred tax assets – gross103,053 84,898 
Valuation allowance(19,983)(17,327)
Deferred tax assets – net83,070 67,571 

20252024
 (in $ thousands)
Deferred tax liabilities:
Amortization – goodwill and other intangibles(56,191)(50,002)
Other intangible assets from acquisitions(28,642)(10,535)
Capitalized research and development costs
(23,769)— 
Title loss provisions(8,621)(17,295)
Fixed assets(3,149)(5,411)
Deferred compensation on life insurance policies(2,943)(2,546)
Net unrealized gains on investments in securities(2,455)(2,940)
Investments(1,845)(1,391)
Other(1,122)(890)
Deferred tax liabilities - gross(128,737)(91,010)
Net deferred income tax liability(45,667)(23,439)

At December 31, 2025, the Company's deferred tax assets related to NOL carryforwards are composed of a $25.0 million U.S. federal NOL carryforward from 2021 and 2025 acquisitions with no expiration dates, various state NOL carryforwards which will expire in varying amounts from 2026 through 2046 or have unlimited carryforwards, and foreign NOL carryforwards which will expire in varying amounts from 2026 through 2044 or have unlimited carryforward periods. The future utilization of all NOL carryforwards is subject to various limitations. At December 31, 2025, the Company had $14.3 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.

The Company's valuation allowance at December 31, 2025 relates primarily to foreign tax credit carryforwards, certain research and development credits acquired in 2021, and certain state and foreign NOL carryforwards which the Company believes will not be utilized prior to expiration.
The Company’s income tax returns are routinely subject to examinations by U.S. federal, foreign, and state and local tax authorities. At December 31, 2025, the Company’s 2022 through 2024 U.S. federal income tax returns and 2021 through 2024 Canadian income tax returns remain subject to examination. The Company is subject to routine examinations by state tax jurisdictions and remains subject to examination for 2020 through 2024 tax returns. The Company expects no material adjustments from any ongoing tax return examinations.

On July 4, 2025, H.R. 1, the "One Big Beautiful Bill Act" (OBBBA) was enacted into law. Certain provisions of H.R. 1 affected the Company’s current cash tax liability, primarily due to the acceleration of tax deductions on investments in fixed assets and research & development expenditures. However, these effects had no impact on the Company’s total income tax expense and were not material to the Company’s consolidated financial statements. The Company will continue to monitor regulatory guidance and interpretive developments related to the H.R. 1 and will recognize any additional impact in the period in which they become known.
v3.25.4
Goodwill and other intangibles
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and other intangibles
Goodwill and other intangibles. The summary of changes in goodwill is as follows: 
TitleReal Estate Solutions
Corporate
Total
 (in $ thousands)
Balances at January 1, 2024
707,935 364,194 — 1,072,129 
Acquisitions12,666 — — 12,666 
Purchase accounting adjustments186 — — 186 
Disposals(842)— — (842)
Balances at December 31, 2024
719,945 364,194 — 1,084,139 
Acquisitions8,608 179,211 — 187,819 
Balances at December 31, 2025
728,553 543,405 — 1,271,958 

An aggregate of $86.6 million of the goodwill recognized in 2025 related to acquisitions is tax-deductible over a period of 15 years from the corresponding acquisition date, while there was no such amount recognized in 2024. In connection with all of its acquisitions, the Company recorded other intangible assets of $184.0 million and $12.0 million during 2025 and 2024, respectively.

In December 2025, the Company acquired all of Mortgage Contracting Services (MCS) for a total cash purchase consideration of $332.7 million. MCS provides property preservation and field services to mortgage servicers and is included in the real estate solutions segment. Based on management's provisional purchase accounting, which is expected to be completed within the one-year measurement period from the acquisition date, the Company recognized fair value amounts of assets acquired and liabilities assumed at acquisition date, primarily related to goodwill ($152.2 million), other intangible assets ($175.0 million), trade receivables ($17.9 million) and accounts payable and accrued liabilities ($10.2 million). Provisional other intangible assets recognized were primarily related to customer relationships, internally-developed technology and trademark.
The summary of other intangibles by major class (refer to Note 1-M) is as follows:

Customer RelationshipsTechnologyOthersTotal
 (in $ thousands)
Balances at December 31, 2025:
Gross315,402 106,763 66,130 488,295 
Accumulated amortization(61,064)(69,244)(32,852)(163,160)
Net254,338 37,519 33,278 325,135 
Balances at December 31, 2024:
Gross174,302 81,062 48,957 304,321 
Accumulated amortization(46,141)(53,984)(31,121)(131,246)
Net128,161 27,078 17,836 173,075 

Total amortization expense recorded for other intangible assets was $31.9 million and $32.1 million in 2025 and 2024, respectively. The annual amortization expense expected to be recognized in the next five years relating to other intangible assets is approximately $31.8 million in 2026, $23.0 million in 2027, $21.7 million in 2028, $21.0 million in 2029 and $19.7 million in 2030.
v3.25.4
Notes payable and line of credit
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Notes payable and line of credit
Notes payable and line of credit. A summary of notes payable and line of credit is as follows:
20252024
 (in $ thousands)
3.6% Senior Notes
446,234 445,672 
Line of credit facility (1)
200,000 — 
Other notes payable372 169 
646,606 445,841 

(1) Applicable interest rate was 5.4% during the year ended December 31, 2025.

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. As of December 31, 2025 and 2024, the fair value of the Senior Notes, based on trade transactions on or near year-end, was $397.6 million and $392.2 million, respectively. These values are considered Level 1 inputs based on the fair value hierarchy discussed in Note 5.
In October 2021, the Company entered into a senior unsecured credit agreement, comprising of a $200.0 million unsecured revolving credit facility (maturing in October 2026). In October 2025, the Company entered into a new senior unsecured credit agreement (the New Credit Agreement) which amended and replaced the previously existing senior unsecured credit agreement. The New Credit Agreement is comprised of a $300.0 million unsecured revolving credit facility, which matures in October 2030 and includes an option to increase the revolving credit facility by up to $125.0 million. The New Credit Agreement is guaranteed by the certain of the Company's wholly-owned subsidiaries. At the Company’s election, borrowings under the New 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 0.10% to 0.25% per annum on the average daily unused portion of the commitments. The New 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.

During December 2025, the Company drew $200.0 million from the revolving line of credit which remained outstanding at the end of 2025. As of December 31, 2025, the remaining balance of the line of credit available for use was $97.5 million, net of an unused $2.5 million letter of credit. The Company was in compliance with all covenants as of December 31, 2025 and 2024 under the New 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 are presented as part of other notes payable in the above table 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.
v3.25.4
Estimated title losses
12 Months Ended
Dec. 31, 2025
Loss Contingency [Abstract]  
Estimated title losses
Estimated title losses. A summary of estimated title losses is as follows:
202520242023
 (in $ thousands, except for loss ratios)
Balances at January 1511,534 528,269 549,448 
Provisions:
Current year79,044 71,350 66,818 
Previous policy years2,624 9,061 13,464 
Total provisions81,668 80,411 80,282 
Payments, net of recoveries:
Current year(18,249)(17,917)(19,209)
Previous policy years(58,598)(67,504)(85,108)
Total payments, net of recoveries(76,847)(85,421)(104,317)
Effects of changes in foreign currency exchange rates8,118 (11,725)2,856 
Balances at December 31524,473 511,534 528,269 
Loss ratios as a percentage of title operating revenues:
Current year provisions3.3 %3.5 %3.4 %
Total provisions3.4 %3.9 %4.1 %
v3.25.4
Share-based payments
12 Months Ended
Dec. 31, 2025
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 primarily include a combination of time-based restricted stock units and performance-based restricted stock units, and are typically granted annually during the first quarter of the year. 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 anniversaries of the grant date, while the performance-based units vest upon achievement of certain financial objectives and employee service requirements over a period of approximately three years. The Company has not granted stock options since 2021 and all outstanding stock option awards are already fully vested. 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, and is presented as part of employee costs in the consolidated statement of income and comprehensive income. Award forfeitures are recorded as credits against employee costs in the period in which they occur.

The aggregate grant-date fair value of restricted stock unit awards to employees during 2025, 2024 and 2023 was $17.1 million (241,800 stock units with an average grant price of $70.69), $18.9 million (297,400 stock units with an average grant price of $63.41) and $12.3 million (299,000 stock units with an average grant price of $41.09), respectively.

A summary of the restricted stock unit activity during the year ended December 31, 2025 is presented below:
UnitsWeighted-Average Grant-Date Fair Value per Share ($)
Outstanding at January 1, 2025
516,090 54.50 
Granted241,783 70.69 
Converted(191,681)55.59 
Forfeited(11,653)59.95 
Outstanding at December 31, 2025
554,539 61.06 
Unvested at December 31, 2025
530,938 61.54 

A summary of the stock option activity during the year ended December 31, 2025 is presented below:
UnitsWeighted-Average Exercise Price ($)
Outstanding at January 1, 2025
536,000 42.62 
Exercised(40,801)45.73 
Outstanding at December 31, 2025
495,199 42.36 
Unvested at December 31, 2025
— — 

As of December 31, 2025, the aggregate intrinsic value and weighted average remaining contractual term related to outstanding options was $13.8 million and 4.3 years, respectively.

The fair value of grants that vested in 2025 and 2024 aggregated to $13.2 million and $13.0 million, respectively. For the years ended December 31, 2025, 2024 and 2023, compensation costs recognized related to share-based awards to employees were approximately $16.1 million, $12.7 million and $10.1 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 2025, 2024 and 2023 were $2.3 million, $2.2 million and $0.9 million, respectively. As of December 31, 2025, compensation costs not yet recognized related to all employee nonvested awards was $13.8 million, which is expected to be recognized over a weighted average period of 1.0 year.
v3.25.4
Earnings per share
12 Months Ended
Dec. 31, 2025
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 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,
 202520242023
Numerator (in $ thousands):
Net income attributable to Stewart115,535 73,310 30,439 
Denominator (in thousands):
Basic average shares outstanding28,069 27,628 27,293 
Average number of dilutive shares relating to options201 225 69 
Average number of dilutive shares relating to restricted units
290 276 158 
Diluted average shares outstanding28,560 28,129 27,520 
Basic earnings per share attributable to Stewart ($)4.12 2.65 1.12 
Diluted earnings per share attributable to Stewart ($)4.05 2.61 1.11 
v3.25.4
Reinsurance
12 Months Ended
Dec. 31, 2025
Insurance [Abstract]  
Reinsurance Reinsurance. As is industry practice, the Company cedes risks to other title insurance underwriters and reinsurers on certain transactions. However, the Company remains liable if the reinsurer should fail to meet its obligations. The Company also assumes risks from other underwriters on a transactional basis as well as on certain reinsurance treaties. Payments and recoveries on reinsured losses were insignificant during each of the years ended December 31, 2025, 2024, and 2023. The total amount of premiums for assumed and ceded risks was less than 0.3% of consolidated title revenues in each of the last three years and there were no outstanding amounts of reinsurance recoverable or payable at December 31, 2025 and 2024.
v3.25.4
Leases
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases
Leases. Total operating lease expense was $46.6 million, $46.3 million and $49.6 million in 2025, 2024 and 2023, respectively, which included $3.2 million, $3.4 million and $3.3 million, respectively, of lease expense related to short-term leases and equipment. Total finance lease expense was $0.2 million, $0.3 million and $0.6 million in 2025, 2024 and 2023, respectively.

Total operating lease liabilities are presented on the consolidated balance sheets and there were no material outstanding finance lease obligations at December 31, 2025 and 2024. Lease-related assets as of December 31 are as follows:

20252024
(in $ thousands)
Operating lease assets, net of accumulated amortization106,034 102,210 
Finance lease assets, net of accumulated depreciation— 473 
Total lease assets106,034 102,683 
Other information related to operating leases during the years ended December 31 is as follows:

20252024
Cash paid for amounts included in the measurement of lease liabilities (in $ thousands)45,11448,533
Lease assets obtained in exchange for lease obligations (in $ thousands)45,62025,980
Weighted average remaining lease term (years):4.73.8
Weighted average discount rate5.1 %4.7 %

Future minimum lease payments under operating leases as of December 31, 2025 are as follows:
(in $ thousands)
2026
37,096 
2027
28,353 
2028
21,641 
2029
16,833 
2030
10,672 
Thereafter26,675 
Total future minimum lease payments141,270 
Less: imputed interest(19,117)
Net future minimum lease payments122,153 
Leases
Leases. Total operating lease expense was $46.6 million, $46.3 million and $49.6 million in 2025, 2024 and 2023, respectively, which included $3.2 million, $3.4 million and $3.3 million, respectively, of lease expense related to short-term leases and equipment. Total finance lease expense was $0.2 million, $0.3 million and $0.6 million in 2025, 2024 and 2023, respectively.

Total operating lease liabilities are presented on the consolidated balance sheets and there were no material outstanding finance lease obligations at December 31, 2025 and 2024. Lease-related assets as of December 31 are as follows:

20252024
(in $ thousands)
Operating lease assets, net of accumulated amortization106,034 102,210 
Finance lease assets, net of accumulated depreciation— 473 
Total lease assets106,034 102,683 
Other information related to operating leases during the years ended December 31 is as follows:

20252024
Cash paid for amounts included in the measurement of lease liabilities (in $ thousands)45,11448,533
Lease assets obtained in exchange for lease obligations (in $ thousands)45,62025,980
Weighted average remaining lease term (years):4.73.8
Weighted average discount rate5.1 %4.7 %

Future minimum lease payments under operating leases as of December 31, 2025 are as follows:
(in $ thousands)
2026
37,096 
2027
28,353 
2028
21,641 
2029
16,833 
2030
10,672 
Thereafter26,675 
Total future minimum lease payments141,270 
Less: imputed interest(19,117)
Net future minimum lease payments122,153 
v3.25.4
Contingent liabilities and commitments
12 Months Ended
Dec. 31, 2025
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 $1.7 billion at December 31, 2025. 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 $1.2 billion at December 31, 2025. 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, 2025, the maximum potential future payments on the guarantees are not more than the related notes payable and line of credit balance 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, 2025, 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.
v3.25.4
Regulatory and legal developments
12 Months Ended
Dec. 31, 2025
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.

The Company is subject to various other administrative actions, investigations and inquiries into its business conduct in certain of the states in which it operates. While the Company cannot predict the outcome of the various regulatory and administrative matters, it believes that it has adequately reserved for these matters and does not anticipate that the outcome of any of these matters will materially affect its consolidated financial condition or results of operations.
v3.25.4
Revenues
12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenues
Revenues. The Company's operating revenues, summarized by type, are as follows:
202520242023
 (in $ thousands)
Title insurance premiums:
Direct822,784 702,565 635,435 
Agency1,262,568 1,043,173 985,989 
Escrow fees171,826 157,282 153,670 
Real estate solutions and abstract fees509,321 423,976 330,804 
Other revenues91,802 95,116 106,342 
2,858,301 2,422,112 2,212,240 
v3.25.4
Segment information
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment information
Segment information. The Company's chief operating decision maker (CODM) is the chief executive officer, who evaluates performance of and allocates resources to its three reportable segments: title insurance and related services (title), real estate solutions, and corporate. The Company uses revenues and pretax income in assessing segment performance and trends. 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 services, online notarization and closing services, and capital markets search services. The corporate segment is primarily comprised of the parent holding company and centralized support services departments.
Statement of income information related to these reportable segments, including major expense captions used to calculate pretax income, for the years ended December 31 is as follows:

 202520242023
 (in $ thousands)
Title:
Revenues2,482,018 2,132,955 1,997,128 
Expenses
Amounts retained by agencies1,047,660 864,807 813,519 
Employee costs
754,339 677,378 648,832 
Other operating expenses381,832 339,950 320,529 
Title losses and related claims81,668 80,411 80,282 
Depreciation and amortization33,712 35,047 35,000 
Interest1,721 1,584 1,442 
2,300,932 1,999,177 1,899,604 
Pretax income
181,086 133,778 97,524 

Real estate solutions:
Revenues438,368 358,673 263,681 
Expenses
Employee costs
62,479 54,572 49,320 
Other operating expenses327,668 258,827 179,640 
Depreciation and amortization26,239 25,104 25,802 
Interest239 
416,389 338,512 255,001 
Pretax income
21,979 20,161 8,680 

Corporate:
Revenues (net realized losses)
1,250 (1,209)(3,468)
Expenses
Employee costs
13,776 13,455 14,642 
Other operating expenses5,126 5,182 7,532 
Depreciation and amortization1,119 1,461 1,645 
Interest18,720 18,321 18,056 
38,741 38,419 41,875 
Pretax loss
(37,491)(39,628)(45,343)

Consolidated Stewart:
Revenues2,921,636 2,490,419 2,257,341 
Expenses
Amounts retained by agencies1,047,660 864,807 813,519 
Employee costs
830,594 745,405 712,794 
Other operating expenses714,626 603,959 507,701 
Title losses and related claims81,668 80,411 80,282 
Depreciation and amortization61,070 61,612 62,447 
Interest20,444 19,914 19,737 
2,756,062 2,376,108 2,196,480 
Pretax income
165,574 114,311 60,861 
The Company does not provide asset information by reportable segment as it does not routinely evaluate the asset position by segment.

Revenues for the years ended December 31 in the United States and all international operations are as follows:
202520242023
 (in $ thousands)
United States2,765,208 2,342,286 2,122,565 
International156,428 148,133 134,776 
2,921,636 2,490,419 2,257,341 
v3.25.4
Other comprehensive income (loss)
12 Months Ended
Dec. 31, 2025
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, 2025
For the Year Ended
December 31, 2024
For the Year Ended
December 31, 2023
 
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 adjustments13,633 2,111 11,522 (18,885)(4,078)(14,807)6,407 1,130 5,277 
Net unrealized gains and losses on investments:
         
Change in net unrealized gains and losses on investments10,677 2,242 8,435 6,989 1,468 5,521 13,242 2,781 10,461 
Reclassification adjustment for realized gains and losses on investments1,939 407 1,532 1,397 293 1,104 494 104 390 
12,616 2,649 9,967 8,386 1,761 6,625 13,736 2,885 10,851 
Other comprehensive income (loss)
26,249 4,760 21,489 (10,499)(2,317)(8,182)20,143 4,015 16,128 
v3.25.4
Common Stock
12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Common Stock
Common Stock. During 2025, the Company issued an aggregate of 2,185,000 new shares of its Common Stock ($1 par value), which included shares purchased by the underwriters to the transaction. Proceeds from the Common Stock issuance, net of issuance costs, amounted to $140.8 million.
v3.25.4
Schedule I - Financial Information of the Registrant (Parent Company)
12 Months Ended
Dec. 31, 2025
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,
 202520242023
 (in $ thousands)
Revenues
Net interest and other income (net realized losses)
433 (159)(2,222)
Expenses
Interest19,054 18,691 18,402 
Other operating expenses10,118 6,033 8,440 
29,172 24,724 26,842 
Loss before taxes and income from investments in subsidiaries(28,739)(24,883)(29,064)
Income tax (expense) benefit
(21)417 (28)
Income from investments in subsidiaries144,295 97,776 59,531 
Net income115,535 73,310 30,439 
Retained earnings at beginning of year1,089,484 1,070,841 1,091,816 
Cash dividends on Common Stock(59,604)(54,667)(51,414)
Retained earnings at end of year1,145,415 1,089,484 1,070,841 
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,
 20252024
 (in $ thousands)
Assets
Cash and cash equivalents110,128 1,070 
Receivables from affiliates45,537 3,772 
Property and equipment, at cost:
Furniture and equipment2,060 2,060 
Accumulated depreciation(953)(545)
1,107 1,515 
Investments in subsidiaries, on an equity-method basis2,143,882 1,853,640 
Operating lease assets15,926 312 
Goodwill8,068 8,068 
Other assets20,236 16,194 
2,344,884 1,884,571 
Liabilities
Accounts payable and other liabilities28,036 26,256 
Operating lease liabilities19,530 501 
Notes payable656,234 455,672 
703,800 482,429 
Contingent liabilities and commitments— — 
Stockholders’ equity
Common Stock – $1 par, authorized 51,500,000; issued 30,575,472 and 28,115,852; outstanding 30,223,311 and 27,763,691, respectively
30,577 28,117 
Additional paid-in capital489,666 330,604 
Retained earnings1,145,415 1,089,484 
Accumulated other comprehensive loss (AOCI):
Foreign currency translation adjustments(21,864)(33,386)
Net unrealized investment losses
(44)(10,011)
Treasury stock – 352,161 common shares, at cost
(2,666)(2,666)
Total stockholders’ equity1,641,084 1,402,142 
2,344,884 1,884,571 
 
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,
 202520242023
 (in $ thousands)
Reconciliation of net income to cash provided by operating activities:
Net income115,535 73,310 30,439 
Add (deduct):
Depreciation408 355 169 
(Increase) decrease in receivables – net
(41,765)46,411 (1,128)
(Increase) decrease in other assets – net
(3,065)1,301 (764)
Increase (decrease) in payables and accrued liabilities – net
4,099 (2,881)1,717 
Income from and other adjustments for subsidiaries 119,137 (13,743)11,753 
Cash provided by operating activities194,349 104,753 42,186 
Investing activities:
Investments in and contributions to subsidiaries(370,251)(62,197)(19,000)
Purchase of property and equipment— (346)(1,692)
Cash used by investing activities(370,251)(62,543)(20,692)
Financing activities:
Dividends paid(58,485)(53,916)(50,523)
Repurchases of Common Stock(3,887)(3,844)(1,783)
Proceeds from stock option and employee stock purchase plan exercises7,502 10,550 4,970 
Proceeds from notes payable200,000 — — 
Issuance of new Common Stock140,807 — — 
Payment for debt issuance costs(977)— — 
Cash provided (used) by financing activities
284,960 (47,210)(47,336)
Change in cash and cash equivalents
109,058 (5,000)(25,842)
Cash and cash equivalents at beginning of year1,070 6,070 31,912 
Cash and cash equivalents at end of year110,128 1,070 6,070 
Supplemental information:
Income taxes paid, net1,547 4,961 — 
Interest paid17,930 17,035 17,197 
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 2025 and 2024, Stewart Title Guaranty Company, a wholly-owned subsidiary, paid to the Parent Company dividends of $173.0 million and $30.0 million, respectively, and none in 2023. Also, during 2025, 2024 and 2023, the Parent Company received dividends of $53.2 million, $46.5 million and $62.0 million, respectively, from its unregulated subsidiaries, primarily related to real estate solutions operations.
v3.25.4
Schedule II - Valuation and Qualifying Accounts
12 Months Ended
Dec. 31, 2025
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, 2025
 
Col. ACol. BCol. C
Additions
Col. D
Deductions
Col. E
DescriptionBalance
at
beginning
of period
Charged to
costs
and
expenses
(Describe)Balance
At
end
of period
 (in $ thousands)
Year ended December 31, 2025:
Estimated title losses511,534 81,668 68,729 (A)524,473 
Valuation allowance for deferred tax assets17,327 2,656 — 19,983 
Allowance for credit losses7,725 2,318 2,238 (B)7,805 
Year ended December 31, 2024:
Estimated title losses528,269 80,411 97,146 (A)511,534 
Valuation allowance for deferred tax assets13,362 4,062 97 17,327 
Allowance for credit losses7,583 2,214 2,072 (B)7,725 
Year ended December 31, 2023:
Estimated title losses549,448 80,282 101,461 (A)528,269 
Valuation allowance for deferred tax assets6,202 8,851 1,691 13,362 
Allowance for credit losses7,309 1,934 1,660 (B)7,583 
 
(A)Represents primarily payments of policy and escrow losses and loss adjustment expenses (refer to Note 10).
(B)Represents uncollectible accounts written off.
See accompanying Report of Independent Registered Public Accounting Firm.
v3.25.4
Insider Trading Arrangements
3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Stewart recognizes the importance of protecting our customers', employees' and partners’ confidentiality and data integrity. To that end, we continuously and methodically evaluate cyber risks, how they evolve and how they may affect us. We utilize considerable resources in our cybersecurity efforts, and we are committed to continuous cybersecurity education and training across our entire organization as well as our partners and customers. We continuously evaluate and monitor third-party risk relating to the protection of sensitive data. Our program focuses on a broad area of security domains, including, but not limited to: risk management, data protection, incident response, identity and access management, threat and vulnerability management, disaster recovery, business resiliency, and continuity.

Risk assessment and management
Stewart has an enterprise risk management (ERM) program to assess, identify, and manage risks. Cybersecurity risks are evaluated alongside other critical business risks under the ERM program to align cybersecurity efforts with Stewart’s broader business goals and objectives. The cybersecurity risk is assigned to the Vice President, Information Technology (IT), who is a member of the ERM committee, for monitoring. The cybersecurity risk is also under the management oversight of Stewart's Senior Leadership Team.
Stewart takes a risk-based approach to cybersecurity, which begins with the identification and evaluation of cybersecurity risks that could affect Stewart’s operations, finances, legal or regulatory compliance, or reputation. Once identified, cybersecurity risks and related mitigation efforts are prioritized based upon their potential impact and likelihood. Risk mitigation strategies are developed and implemented based upon the specific nature of each cybersecurity risk. These strategies include the application of cybersecurity policies, procedures, and technologies, and employee training, education, and awareness. Additionally, Stewart’s cybersecurity program provides mechanisms for employees to report any unusual or potentially malicious activity.

Stewart is regularly assessed against the cybersecurity frameworks of the National Institute of Standards and Technology (NIST CSF) and also evaluated for compliance with the SSAE-18 Systems and Organization Controls (SOC) standards of the American Institute of Certified Public Accountants (AICPA).

Vendor risk management is an essential part of Stewart’s Enterprise Governance Risk and Compliance (GRC) program. Critical vendors, which include vendors that have access to personal information, are assessed and measured against standard security frameworks. Critical vendors are monitored for performance and compliance, and vendor security requirements are well defined and included with all master service agreements and contracts.

Incident response
In the event of a material breach or an information technology disruption, management has an incident response team in place to take immediate action, work with local and national law enforcement, and notify the appropriate regulators, our Board of Directors and impacted parties. In addition, we would work with our Disclosure Committee to disclose the scope, timing and effect of the breach or disruption through an appropriate Form 8-K filing, without providing information that could affect any law enforcement investigation.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Stewart recognizes the importance of protecting our customers', employees' and partners’ confidentiality and data integrity. To that end, we continuously and methodically evaluate cyber risks, how they evolve and how they may affect us. We utilize considerable resources in our cybersecurity efforts, and we are committed to continuous cybersecurity education and training across our entire organization as well as our partners and customers. We continuously evaluate and monitor third-party risk relating to the protection of sensitive data. Our program focuses on a broad area of security domains, including, but not limited to: risk management, data protection, incident response, identity and access management, threat and vulnerability management, disaster recovery, business resiliency, and continuity.

Risk assessment and management
Stewart has an enterprise risk management (ERM) program to assess, identify, and manage risks. Cybersecurity risks are evaluated alongside other critical business risks under the ERM program to align cybersecurity efforts with Stewart’s broader business goals and objectives. The cybersecurity risk is assigned to the Vice President, Information Technology (IT), who is a member of the ERM committee, for monitoring. The cybersecurity risk is also under the management oversight of Stewart's Senior Leadership Team.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Cybersecurity governance and board oversight
The Board is responsible for overseeing management’s assessment of significant risks facing Stewart. The Board approves management’s strategy to manage these risks and monitors management’s performance in implementing the strategy. Through February 25, 2026, the Board’s oversight of cybersecurity risks occurred at both the full Board level and at the Board committee level through the Audit Committee. Beginning February 26, 2026, the Board's oversight of cybersecurity risk will occur both at the full Board level and at the Board committee level through the Cybersecurity and Operations Technology Risk Committee.

The Board receives, at each regularly scheduled meeting, a risk report which includes an updated cybersecurity risk exposure assessment, a summary of existing cybersecurity controls and risk mitigations, and further planned controls and risk mitigation activities.

Through the first quarter 2026, our Chief Information Security Officer (CISO) has reported quarterly to the Audit Committee concerning Stewart’s cybersecurity program, operations, and other ad hoc updates. Beginning in the second quarter 2026, our CISO will report quarterly to the Cybersecurity and Operations Technology Risk Committee concerning those same matters. On a regular basis, management conducts a third-party assessment of Stewart's cybersecurity controls, the results of which were reported to the Audit Committee in 2025 and beginning in 2026, will be reported to the Cybersecurity and Operations Technology Risk Committee. Beginning in 2026, the Cybersecurity and Operations Technology Risk Committee will annually prepare and provide the Audit Committee with a report regarding material cybersecurity risks, including any cybersecurity incidents, compliance matters, or legal or regulatory issues that could reasonably be expected to impact the Company’s consolidated financial statements, disclosures or overall risk profile.

Management’s role
Stewart’s cybersecurity function is led by Stewart’s CISO, who reports to the Group President, Technology and Operations. The Group President, Technology and Operations, is responsible for all areas of Stewart’s digital business strategy, enterprise technology solutions, innovation, and global information technology. The CISO leads a holistic security program to defend enterprises against emerging threats. He has served in various roles in information technology and security leadership for over 30 years.

Management uses third party consultants, as necessary, to assist in assessing, identifying and managing risks from cybersecurity threats. Annually, senior management participates in tabletop exercises to assess its readiness responding to cybersecurity incidents. Our cybersecurity team routinely challenges our employees and tests the effectiveness of existing controls.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Board is responsible for overseeing management’s assessment of significant risks facing Stewart. The Board approves management’s strategy to manage these risks and monitors management’s performance in implementing the strategy. Through February 25, 2026, the Board’s oversight of cybersecurity risks occurred at both the full Board level and at the Board committee level through the Audit Committee. Beginning February 26, 2026, the Board's oversight of cybersecurity risk will occur both at the full Board level and at the Board committee level through the Cybersecurity and Operations Technology Risk Committee.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Board receives, at each regularly scheduled meeting, a risk report which includes an updated cybersecurity risk exposure assessment, a summary of existing cybersecurity controls and risk mitigations, and further planned controls and risk mitigation activities.
Through the first quarter 2026, our Chief Information Security Officer (CISO) has reported quarterly to the Audit Committee concerning Stewart’s cybersecurity program, operations, and other ad hoc updates. Beginning in the second quarter 2026, our CISO will report quarterly to the Cybersecurity and Operations Technology Risk Committee concerning those same matters. On a regular basis, management conducts a third-party assessment of Stewart's cybersecurity controls, the results of which were reported to the Audit Committee in 2025 and beginning in 2026, will be reported to the Cybersecurity and Operations Technology Risk Committee. Beginning in 2026, the Cybersecurity and Operations Technology Risk Committee will annually prepare and provide the Audit Committee with a report regarding material cybersecurity risks, including any cybersecurity incidents, compliance matters, or legal or regulatory issues that could reasonably be expected to impact the Company’s consolidated financial statements, disclosures or overall risk profile.
Cybersecurity Risk Role of Management [Text Block]
Stewart’s cybersecurity function is led by Stewart’s CISO, who reports to the Group President, Technology and Operations. The Group President, Technology and Operations, is responsible for all areas of Stewart’s digital business strategy, enterprise technology solutions, innovation, and global information technology. The CISO leads a holistic security program to defend enterprises against emerging threats. He has served in various roles in information technology and security leadership for over 30 years.

Management uses third party consultants, as necessary, to assist in assessing, identifying and managing risks from cybersecurity threats. Annually, senior management participates in tabletop exercises to assess its readiness responding to cybersecurity incidents. Our cybersecurity team routinely challenges our employees and tests the effectiveness of existing controls.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Through the first quarter 2026, our Chief Information Security Officer (CISO) has reported quarterly to the Audit Committee concerning Stewart’s cybersecurity program, operations, and other ad hoc updates. Beginning in the second quarter 2026, our CISO will report quarterly to the Cybersecurity and Operations Technology Risk Committee concerning those same matters. On a regular basis, management conducts a third-party assessment of Stewart's cybersecurity controls, the results of which were reported to the Audit Committee in 2025 and beginning in 2026, will be reported to the Cybersecurity and Operations Technology Risk Committee. Beginning in 2026, the Cybersecurity and Operations Technology Risk Committee will annually prepare and provide the Audit Committee with a report regarding material cybersecurity risks, including any cybersecurity incidents, compliance matters, or legal or regulatory issues that could reasonably be expected to impact the Company’s consolidated financial statements, disclosures or overall risk profile.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The CISO leads a holistic security program to defend enterprises against emerging threats. He has served in various roles in information technology and security leadership for over 30 years.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
The Board is responsible for overseeing management’s assessment of significant risks facing Stewart. The Board approves management’s strategy to manage these risks and monitors management’s performance in implementing the strategy. Through February 25, 2026, the Board’s oversight of cybersecurity risks occurred at both the full Board level and at the Board committee level through the Audit Committee. Beginning February 26, 2026, the Board's oversight of cybersecurity risk will occur both at the full Board level and at the Board committee level through the Cybersecurity and Operations Technology Risk Committee.

The Board receives, at each regularly scheduled meeting, a risk report which includes an updated cybersecurity risk exposure assessment, a summary of existing cybersecurity controls and risk mitigations, and further planned controls and risk mitigation activities.
Through the first quarter 2026, our Chief Information Security Officer (CISO) has reported quarterly to the Audit Committee concerning Stewart’s cybersecurity program, operations, and other ad hoc updates. Beginning in the second quarter 2026, our CISO will report quarterly to the Cybersecurity and Operations Technology Risk Committee concerning those same matters. On a regular basis, management conducts a third-party assessment of Stewart's cybersecurity controls, the results of which were reported to the Audit Committee in 2025 and beginning in 2026, will be reported to the Cybersecurity and Operations Technology Risk Committee. Beginning in 2026, the Cybersecurity and Operations Technology Risk Committee will annually prepare and provide the Audit Committee with a report regarding material cybersecurity risks, including any cybersecurity incidents, compliance matters, or legal or regulatory issues that could reasonably be expected to impact the Company’s consolidated financial statements, disclosures or overall risk profile.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
General (Policies)
12 Months Ended
Dec. 31, 2025
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 title insurance 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 title insurance 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 from 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 credit and real estate information services, property preservation and field services, appraisal management services, online notarization and closing services, and abstract services. 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, respectively. Property preservation and field services are related to property inspections, preservation, maintenance, registrations and other mortgage-related services performed for lenders and mortgage servicers. 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. 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.
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 recorded reserve amount is not at the third-party actuarial point estimate, but is within a reasonable range (+7.0%/-4.0%) of the actuary’s point estimate, the Company’s management assesses the 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, building improvements - 5 to 10 years, and furniture and equipment (which includes internal-use software in operation) – 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 a June 30 measurement date, 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 2025 and 2024, and determined that goodwill related to each of its reporting units was not impaired.
Other intangibles Other intangibles. Other intangible assets are comprised primarily of customer relationships, acquired technology and acquired trademarks and licenses. Intangible assets are amortized over their estimated lives: 10 to 25 years for customer relationships, 5 to 7 years for acquired technology, and 3 years to indefinite for acquired trademarks and licenses. 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 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, if any, are included in furniture and equipment and notes payable and line of credit on the consolidated balance sheets. Operating lease assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The discount rate used in determining the present value of the future lease payments is based on the Company's incremental borrowing rate and is applied using a portfolio approach. Lease options to extend or terminate that the Company is reasonably certain to exercise are considered in the present value calculation. Leasehold improvements are included in furniture and equipment and depreciated over the lease term or the useful life of the asset, whichever is shorter.
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.
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.
Recently adopted accounting standards Recently adopted accounting standards. In December 2023, the Financial Accounting Standards Board issued Accounting Standards Update No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which improves the transparency of income tax disclosures requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. ASU 2023-09 also includes certain other amendments to improve the effectiveness of income tax disclosures. The Company adopted ASU 2023-09 for the 2025 annual reporting and applied retrospective disclosures for all prior periods presented. The adoption of ASU 2023-09 did not have a material impact on the Company's consolidated financial statements, except for the disclosure requirements provided in Note 7, Income taxes.
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.
v3.25.4
Investments in debt and equity securities (Tables)
12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of 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:
 20252024
(in $ thousands)
Investments in:
Debt securities558,488 586,615 
Equity securities47,682 82,484 
606,170 669,099 
Net investment gains and losses recognized related to investments in equity securities for the years ended December 31 are as follows:
202520242023
(in $ thousands)
Net investment gains recognized on equity securities during the period
11,192 12,855 3,044 
Less: Net realized gains on equity securities sold during the period
6,027 220 975 
Net unrealized investment gains recognized on equity securities still held
5,165 12,635 2,069 
Schedule of Amortized Costs and Fair Values of Investments in Debt Securities
The amortized costs and fair values of investments in debt securities as of December 31, are as follows:
 20252024
 Amortized
costs
Fair
values
Amortized
costs
Fair
values
 (in $ thousands)
Municipal12,292 12,274 14,563 14,415 
Corporate144,571 143,621 219,015 210,307 
Foreign347,588 348,084 316,247 313,619 
U.S. Treasury Bonds54,093 54,509 49,462 48,274 
558,544 558,488 599,287 586,615 
Proceeds from sales of investments in securities for the years ended December 31 are as follows:
202520242023
 (in $ thousands)
Proceeds from sales of debt securities94,360 35,304 21,909 
Proceeds from sales of equity securities46,519 1,278 38,548 
Total proceeds from sales of investments in securities140,879 36,582 60,457 
Schedule of Gross Unrealized Gains and Losses
Gross unrealized gains and losses on investments in debt securities at December 31, were:
 20252024
 GainsLossesGainsLosses
 (in $ thousands)
Municipal23 149 
Corporate1,646 2,596 524 9,232 
Foreign3,645 3,149 2,979 5,607 
U.S. Treasury Bonds543 127 1,193 
5,839 5,895 3,509 16,181 
Schedule of Debt Securities According to Contractual Terms
Debt securities at December 31, 2025 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights):
Amortized
costs
Fair
values
 (in $ thousands)
In one year or less85,205 85,086 
After one year through five years270,602 270,764 
After five years through ten years187,305 188,269 
After ten years15,432 14,369 
558,544 558,488 
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 December 31, 2025, were:
 Less than 12 monthsMore than 12 monthsTotal
 LossesFair valuesLossesFair valuesLossesFair values
 (in $ thousands)
Municipal2,621 19 5,918 23 8,539 
Corporate10,284 2,587 71,989 2,596 82,273 
Foreign364 43,539 2,785 119,970 3,149 163,509 
U.S. Treasury Bonds36 8,720 91 6,425 127 15,145 
413 65,164 5,482 204,302 5,895 269,466 
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, 2024, were:
 
 Less than 12 monthsMore than 12 monthsTotal
 LossesFair valuesLossesFair valuesLossesFair values
 (in $ thousands)
Municipal32 5,204 117 7,960 149 13,164 
Corporate194 19,253 9,038 168,289 9,232 187,542 
Foreign349 32,664 5,258 145,656 5,607 178,320 
U.S. Treasury Bonds878 33,689 315 12,142 1,193 45,831 
1,453 90,810 14,728 334,047 16,181 424,857 
v3.25.4
Fair value measurements (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis
At December 31, 2025, financial instruments measured at fair value on a recurring basis are summarized below:
Level 1Level 2Level 3Fair value
measurements
 (in $ thousands)
Investments in securities:
Debt securities:
Municipal— 12,274 — 12,274 
Corporate— 143,621 — 143,621 
Foreign— 348,084 — 348,084 
U.S. Treasury Bonds— 54,509 — 54,509 
Equity securities:47,682 — — 47,682 
47,682 558,488 — 606,170 
At December 31, 2024, financial instruments measured at fair value on a recurring basis are summarized below:
Level 1Level 2Level 3Fair value
measurements
 (in $ thousands)
Investments in securities:
Debt securities:
Municipal— 14,415 — 14,415 
Corporate— 210,307 — 210,307 
Foreign— 313,619 — 313,619 
U.S. Treasury Bonds— 48,274 — 48,274 
Equity securities:82,484 — — 82,484 
82,484 586,615 — 669,099 
v3.25.4
Investment income and net realized and unrealized gains (Tables)
12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of 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:
202520242023
 (in $ thousands)
Investment income:
Debt securities20,128 19,198 16,274 
Equity securities, short-term investments, cash equivalents and other37,648 36,172 28,861 
57,776 55,370 45,135 
Net realized and unrealized gains (losses):
Realized gains6,904 3,039 3,407 
Realized losses(6,510)(2,737)(5,510)
Net unrealized investment gains recognized on equity securities still held
5,165 12,635 2,069 
5,559 12,937 (34)
Schedule of Net Investment Gains and Losses The total fair values of the Company's investments in debt and equity securities as of December 31 are detailed below:
 20252024
(in $ thousands)
Investments in:
Debt securities558,488 586,615 
Equity securities47,682 82,484 
606,170 669,099 
Net investment gains and losses recognized related to investments in equity securities for the years ended December 31 are as follows:
202520242023
(in $ thousands)
Net investment gains recognized on equity securities during the period
11,192 12,855 3,044 
Less: Net realized gains on equity securities sold during the period
6,027 220 975 
Net unrealized investment gains recognized on equity securities still held
5,165 12,635 2,069 
Schedule of Proceeds from Sales of Investments in Securities
The amortized costs and fair values of investments in debt securities as of December 31, are as follows:
 20252024
 Amortized
costs
Fair
values
Amortized
costs
Fair
values
 (in $ thousands)
Municipal12,292 12,274 14,563 14,415 
Corporate144,571 143,621 219,015 210,307 
Foreign347,588 348,084 316,247 313,619 
U.S. Treasury Bonds54,093 54,509 49,462 48,274 
558,544 558,488 599,287 586,615 
Proceeds from sales of investments in securities for the years ended December 31 are as follows:
202520242023
 (in $ thousands)
Proceeds from sales of debt securities94,360 35,304 21,909 
Proceeds from sales of equity securities46,519 1,278 38,548 
Total proceeds from sales of investments in securities140,879 36,582 60,457 
v3.25.4
Income taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income Tax Expense
Income tax expense consists of the following:
202520242023
 (in $ thousands)
Current income tax expense:
Federal12,555 7,170 5,638 
State583 955 62 
Foreign13,999 13,409 16,347 
27,137 21,534 22,047 
Deferred income tax expense (benefit):
Federal11,587 6,536 (1,919)
State(1,852)(179)107 
Foreign(1,461)(1,736)(4,972)
8,274 4,621 (6,784)
Total income tax expense35,411 26,155 15,263 
Schedule of Components of Income Before Taxes
The components of income before taxes and after deducting noncontrolling interests are as follows:

202520242023
 (in $ thousands)
Domestic
107,710 56,657 4,980 
Foreign43,236 42,808 40,722 
150,946 99,465 45,702 
Schedule of Income Taxes Paid
Income taxes paid (net of refunds received) by jurisdiction consists of the following:

202520242023
 (in $ thousands)
Federal
7,200 6,960 (6,085)
State
1,756 1,595 1,615 
Foreign:
Canada
9,332 13,710 6,707 
Australia
5,708 2,951 2,156 
Mexico
— 261 738 
Other
300 289 214 
Total income taxes paid, net
24,296 25,766 5,345 
Schedule of Reconciles Income Tax Expense at the Federal Statutory Rate
The following table reconciles income tax expense computed at the federal statutory rate with income tax expense as reported using specific categories required by ASU 2023-09. Additionally, categories of at least 5% of the expected tax expense are disaggregated by nature or jurisdiction (in $ thousands, except for income tax rates):
 
202520242023
Amount
Percent*
Amount
Percent*
Amount
Percent*
U.S. federal statutory tax rate (1)
31,698 21.0 %20,888 21.0 %9,597 21.0 %
State income tax expense, net of federal benefit (2)
(1,392)(0.9)%576 0.6 %156 0.3 %
Foreign tax effects:
Canada:
Foreign income tax rate differential1,836 1.2 %1,787 1.8 %1,800 3.9 %
Other (496)(0.3)%147 0.1 %326 0.7 %
Australia:
Foreign income tax rate differential1,114 0.7 %905 0.9 %694 1.5 %
Other28 0.0 %(205)(0.2)%205 0.5 %
Other:
976 0.6 %(173)(0.2)%(332)(0.7)%
Effect of changes in laws and tax rates
(2,813)(1.9)%— — %— — %
Effect of cross-border tax laws
Net benefit for the Canadian branch (3)
(856)(0.6)%(2,951)(3.0)%(5,197)(11.4)%
Tax credits
Research and development credits(1,730)(1.2)%(1,850)(1.9)%(1,431)(3.1)%
Change in valuation allowance
1,805 1.2 %3,650 3.7 %5,843 12.8 %
Non-taxable or nondeductible items
Meals and entertainment
1,377 0.9 %1,224 1.2 %1,042 2.3 %
Excess covered employee compensation
1,986 1.3 %1,706 1.7 %683 1.5 %
Share-based compensation758 0.5 %333 0.3 %1,326 2.9 %
Return-to-provision adjustments 557 0.4 %379 0.4 %1,517 3.3 %
Amended return adjustments — — %— — %(1,123)(2.5)%
Other — net284 0.2 %(753)(0.8)%(114)(0.3)%
Change in uncertain tax positions
279 0.2 %492 0.5 %271 0.6 %
Income tax expense35,411 23.5 %26,155 26.3 %15,263 33.4 %

(1) Calculated using income before taxes and after deducting noncontrolling interests.
(2) State taxes in Alaska, Arizona, California, Illinois, Pennsylvania, and Texas comprise the majority (greater than 50%) of the tax effect in this category.
(3) 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.
* Amounts presented are rounded to the nearest tenth of a percent and may not foot as presented.
Schedule of Deferred Tax Assets and Liabilities Deferred tax assets and liabilities (netted based on the related temporary difference components) as of December 31 are detailed below.
20252024
 (in $ thousands)
Deferred tax assets:
Net operating loss (NOL) carryforwards35,541 24,917 
Accrued expenses32,025 21,842 
Tax credit carryforwards17,006 15,201 
Foreign currency translation adjustments6,937 6,260 
Federal offset to Canadian deferred tax liability6,273 7,166 
Interest expense carryforward related to an acquisition
2,535 — 
Allowance for credit losses1,711 1,741 
Investments942 819 
Capitalized research and development costs— 6,722 
Other83 230 
Deferred tax assets – gross103,053 84,898 
Valuation allowance(19,983)(17,327)
Deferred tax assets – net83,070 67,571 

20252024
 (in $ thousands)
Deferred tax liabilities:
Amortization – goodwill and other intangibles(56,191)(50,002)
Other intangible assets from acquisitions(28,642)(10,535)
Capitalized research and development costs
(23,769)— 
Title loss provisions(8,621)(17,295)
Fixed assets(3,149)(5,411)
Deferred compensation on life insurance policies(2,943)(2,546)
Net unrealized gains on investments in securities(2,455)(2,940)
Investments(1,845)(1,391)
Other(1,122)(890)
Deferred tax liabilities - gross(128,737)(91,010)
Net deferred income tax liability(45,667)(23,439)
v3.25.4
Goodwill and other intangibles (Tables)
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Goodwill The summary of changes in goodwill is as follows: 
TitleReal Estate Solutions
Corporate
Total
 (in $ thousands)
Balances at January 1, 2024
707,935 364,194 — 1,072,129 
Acquisitions12,666 — — 12,666 
Purchase accounting adjustments186 — — 186 
Disposals(842)— — (842)
Balances at December 31, 2024
719,945 364,194 — 1,084,139 
Acquisitions8,608 179,211 — 187,819 
Balances at December 31, 2025
728,553 543,405 — 1,271,958 
Schedule of Other Intangibles by Major Class
The summary of other intangibles by major class (refer to Note 1-M) is as follows:

Customer RelationshipsTechnologyOthersTotal
 (in $ thousands)
Balances at December 31, 2025:
Gross315,402 106,763 66,130 488,295 
Accumulated amortization(61,064)(69,244)(32,852)(163,160)
Net254,338 37,519 33,278 325,135 
Balances at December 31, 2024:
Gross174,302 81,062 48,957 304,321 
Accumulated amortization(46,141)(53,984)(31,121)(131,246)
Net128,161 27,078 17,836 173,075 
v3.25.4
Notes payable and line of credit (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Notes Payable A summary of notes payable and line of credit is as follows:
20252024
 (in $ thousands)
3.6% Senior Notes
446,234 445,672 
Line of credit facility (1)
200,000 — 
Other notes payable372 169 
646,606 445,841 

(1) Applicable interest rate was 5.4% during the year ended December 31, 2025.
v3.25.4
Estimated title losses (Tables)
12 Months Ended
Dec. 31, 2025
Loss Contingency [Abstract]  
Schedule of Estimated Title Losses A summary of estimated title losses is as follows:
202520242023
 (in $ thousands, except for loss ratios)
Balances at January 1511,534 528,269 549,448 
Provisions:
Current year79,044 71,350 66,818 
Previous policy years2,624 9,061 13,464 
Total provisions81,668 80,411 80,282 
Payments, net of recoveries:
Current year(18,249)(17,917)(19,209)
Previous policy years(58,598)(67,504)(85,108)
Total payments, net of recoveries(76,847)(85,421)(104,317)
Effects of changes in foreign currency exchange rates8,118 (11,725)2,856 
Balances at December 31524,473 511,534 528,269 
Loss ratios as a percentage of title operating revenues:
Current year provisions3.3 %3.5 %3.4 %
Total provisions3.4 %3.9 %4.1 %
v3.25.4
Share-based payments (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Unit Activity
A summary of the restricted stock unit activity during the year ended December 31, 2025 is presented below:
UnitsWeighted-Average Grant-Date Fair Value per Share ($)
Outstanding at January 1, 2025
516,090 54.50 
Granted241,783 70.69 
Converted(191,681)55.59 
Forfeited(11,653)59.95 
Outstanding at December 31, 2025
554,539 61.06 
Unvested at December 31, 2025
530,938 61.54 

A summary of the stock option activity during the year ended December 31, 2025 is presented below:
UnitsWeighted-Average Exercise Price ($)
Outstanding at January 1, 2025
536,000 42.62 
Exercised(40,801)45.73 
Outstanding at December 31, 2025
495,199 42.36 
Unvested at December 31, 2025
— — 
v3.25.4
Earnings per share (Tables)
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted EPS
The calculation of the basic and diluted EPS is as follows:
 For the Years Ended December 31,
 202520242023
Numerator (in $ thousands):
Net income attributable to Stewart115,535 73,310 30,439 
Denominator (in thousands):
Basic average shares outstanding28,069 27,628 27,293 
Average number of dilutive shares relating to options201 225 69 
Average number of dilutive shares relating to restricted units
290 276 158 
Diluted average shares outstanding28,560 28,129 27,520 
Basic earnings per share attributable to Stewart ($)4.12 2.65 1.12 
Diluted earnings per share attributable to Stewart ($)4.05 2.61 1.11 
v3.25.4
Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Lease Related Assets Lease-related assets as of December 31 are as follows:
20252024
(in $ thousands)
Operating lease assets, net of accumulated amortization106,034 102,210 
Finance lease assets, net of accumulated depreciation— 473 
Total lease assets106,034 102,683 
Schedule of Other Information Related to Operating and Finance Leases
Other information related to operating leases during the years ended December 31 is as follows:

20252024
Cash paid for amounts included in the measurement of lease liabilities (in $ thousands)45,11448,533
Lease assets obtained in exchange for lease obligations (in $ thousands)45,62025,980
Weighted average remaining lease term (years):4.73.8
Weighted average discount rate5.1 %4.7 %
Schedule of Future Minimum Lease Payments Under Operating Leases
Future minimum lease payments under operating leases as of December 31, 2025 are as follows:
(in $ thousands)
2026
37,096 
2027
28,353 
2028
21,641 
2029
16,833 
2030
10,672 
Thereafter26,675 
Total future minimum lease payments141,270 
Less: imputed interest(19,117)
Net future minimum lease payments122,153 
v3.25.4
Revenues (Tables)
12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Operating Revenues The Company's operating revenues, summarized by type, are as follows:
202520242023
 (in $ thousands)
Title insurance premiums:
Direct822,784 702,565 635,435 
Agency1,262,568 1,043,173 985,989 
Escrow fees171,826 157,282 153,670 
Real estate solutions and abstract fees509,321 423,976 330,804 
Other revenues91,802 95,116 106,342 
2,858,301 2,422,112 2,212,240 
v3.25.4
Segment information (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Statement of Income Information Related to Reportable Segments
Statement of income information related to these reportable segments, including major expense captions used to calculate pretax income, for the years ended December 31 is as follows:

 202520242023
 (in $ thousands)
Title:
Revenues2,482,018 2,132,955 1,997,128 
Expenses
Amounts retained by agencies1,047,660 864,807 813,519 
Employee costs
754,339 677,378 648,832 
Other operating expenses381,832 339,950 320,529 
Title losses and related claims81,668 80,411 80,282 
Depreciation and amortization33,712 35,047 35,000 
Interest1,721 1,584 1,442 
2,300,932 1,999,177 1,899,604 
Pretax income
181,086 133,778 97,524 

Real estate solutions:
Revenues438,368 358,673 263,681 
Expenses
Employee costs
62,479 54,572 49,320 
Other operating expenses327,668 258,827 179,640 
Depreciation and amortization26,239 25,104 25,802 
Interest239 
416,389 338,512 255,001 
Pretax income
21,979 20,161 8,680 

Corporate:
Revenues (net realized losses)
1,250 (1,209)(3,468)
Expenses
Employee costs
13,776 13,455 14,642 
Other operating expenses5,126 5,182 7,532 
Depreciation and amortization1,119 1,461 1,645 
Interest18,720 18,321 18,056 
38,741 38,419 41,875 
Pretax loss
(37,491)(39,628)(45,343)

Consolidated Stewart:
Revenues2,921,636 2,490,419 2,257,341 
Expenses
Amounts retained by agencies1,047,660 864,807 813,519 
Employee costs
830,594 745,405 712,794 
Other operating expenses714,626 603,959 507,701 
Title losses and related claims81,668 80,411 80,282 
Depreciation and amortization61,070 61,612 62,447 
Interest20,444 19,914 19,737 
2,756,062 2,376,108 2,196,480 
Pretax income
165,574 114,311 60,861 
Schedule of Revenues in United States and All International Operations
Revenues for the years ended December 31 in the United States and all international operations are as follows:
202520242023
 (in $ thousands)
United States2,765,208 2,342,286 2,122,565 
International156,428 148,133 134,776 
2,921,636 2,490,419 2,257,341 
v3.25.4
Other comprehensive income (loss) (Tables)
12 Months Ended
Dec. 31, 2025
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, 2025
For the Year Ended
December 31, 2024
For the Year Ended
December 31, 2023
 
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 adjustments13,633 2,111 11,522 (18,885)(4,078)(14,807)6,407 1,130 5,277 
Net unrealized gains and losses on investments:
         
Change in net unrealized gains and losses on investments10,677 2,242 8,435 6,989 1,468 5,521 13,242 2,781 10,461 
Reclassification adjustment for realized gains and losses on investments1,939 407 1,532 1,397 293 1,104 494 104 390 
12,616 2,649 9,967 8,386 1,761 6,625 13,736 2,885 10,851 
Other comprehensive income (loss)
26,249 4,760 21,489 (10,499)(2,317)(8,182)20,143 4,015 16,128 
v3.25.4
General - General (Details)
12 Months Ended
Dec. 31, 2025
Revenue | 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 53.00%
v3.25.4
General - Title Losses and Related Claims (Details)
12 Months Ended
Dec. 31, 2025
USD ($)
Reserve for Title Losses [Line Items]  
Threshold amount for large claims $ 1,000,000.0
Maximum  
Reserve for Title Losses [Line Items]  
Reserve amount, threshold percentage 7.00%
Minimum  
Reserve for Title Losses [Line Items]  
Reserve amount, threshold percentage 4.00%
v3.25.4
General - Property and Equipment (Details)
Dec. 31, 2025
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
Building Improvements | Minimum  
Property, Plant and Equipment [Line Items]  
Property and equipment, useful life (years) 5 years
Building Improvements | Maximum  
Property, Plant and Equipment [Line Items]  
Property and equipment, useful life (years) 10 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
v3.25.4
General - Goodwill (Details)
12 Months Ended
Dec. 31, 2025
reporting_unit
Accounting Policies [Abstract]  
Number of reporting units 4
v3.25.4
General - Other Intangibles (Details)
Dec. 31, 2025
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) 25 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
v3.25.4
General - Leases (Details)
Dec. 31, 2025
Dec. 31, 2024
Accounting Policies [Abstract]    
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Furniture and equipment Furniture and equipment
v3.25.4
Restrictions on cash and investments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Investments In Debt And Equity Securities    
Restricted Cash and Cash Equivalent Item [Line Items]    
Investments restricted for statutory reserve funds $ 492.0 $ 535.5
Cash and Cash Equivalents    
Restricted Cash and Cash Equivalent Item [Line Items]    
Investments restricted for statutory reserve funds $ 4.4 $ 9.5
v3.25.4
Statutory surplus and dividend restrictions (Details) - Subsidiary - Stewart Title Guaranty Company - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dividends Payable [Line Items]      
Dividends paid by guaranty $ 173.0 $ 30.0 $ 0.0
Maximum amount of dividend to be paid 165.4    
Surplus for guaranty 827.0 865.1  
Statutory net income 151.0 $ 67.5 $ 65.1
Statutory capital and surplus necessary to satisfy regulatory requirements for guaranty 2.0    
Underwriter entities      
Dividends Payable [Line Items]      
Statutory capital and surplus necessary to satisfy regulatory requirements for guaranty $ 2.0    
v3.25.4
Investments in debt and equity securities - Investments in Debt and Equity Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]    
Debt securities $ 558,488 $ 586,615
Equity securities 47,682 82,484
Investments in securities $ 606,170 $ 669,099
v3.25.4
Investments in debt and equity securities - Additional Information (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
investment
Dec. 31, 2024
USD ($)
Debt Securities, Available-for-sale [Line Items]    
Net unrealized investment gains on equity securities $ 14,800 $ 23,200
Debt securities $ 558,488 586,615
Number of investments in an unrealized loss position | investment 156  
Number of investments in an unrealized loss positions for more than 12 months | investment 113  
Foreign    
Debt Securities, Available-for-sale [Line Items]    
Debt securities $ 348,084 313,619
Foreign | Canada    
Debt Securities, Available-for-sale [Line Items]    
Debt securities 296,800 273,300
Foreign | United Kingdom    
Debt Securities, Available-for-sale [Line Items]    
Debt securities $ 41,400 $ 30,800
v3.25.4
Investments in debt and equity securities - Amortized Costs and Fair Values (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Securities, Available-for-sale [Line Items]    
Amortized costs $ 558,544 $ 599,287
Fair values 558,488 586,615
Municipal    
Debt Securities, Available-for-sale [Line Items]    
Amortized costs 12,292 14,563
Fair values 12,274 14,415
Corporate    
Debt Securities, Available-for-sale [Line Items]    
Amortized costs 144,571 219,015
Fair values 143,621 210,307
Foreign    
Debt Securities, Available-for-sale [Line Items]    
Amortized costs 347,588 316,247
Fair values 348,084 313,619
U.S. Treasury Bonds    
Debt Securities, Available-for-sale [Line Items]    
Amortized costs 54,093 49,462
Fair values $ 54,509 $ 48,274
v3.25.4
Investments in debt and equity securities - Gross Unrealized Gains and Losses (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Securities, Available-for-sale [Line Items]    
Gains $ 5,839 $ 3,509
Losses 5,895 16,181
Municipal    
Debt Securities, Available-for-sale [Line Items]    
Gains 5 1
Losses 23 149
Corporate    
Debt Securities, Available-for-sale [Line Items]    
Gains 1,646 524
Losses 2,596 9,232
Foreign    
Debt Securities, Available-for-sale [Line Items]    
Gains 3,645 2,979
Losses 3,149 5,607
U.S. Treasury Bonds    
Debt Securities, Available-for-sale [Line Items]    
Gains 543 5
Losses $ 127 $ 1,193
v3.25.4
Investments in debt and equity securities - Debt Securities According Contractual Terms (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Amortized costs    
In one year or less $ 85,205  
After one year through five years 270,602  
After five years through ten years 187,305  
After ten years 15,432  
Amortized costs 558,544 $ 599,287
Fair values    
In one year or less 85,086  
After one year through five years 270,764  
After five years through ten years 188,269  
After ten years 14,369  
Fair values $ 558,488 $ 586,615
v3.25.4
Investments in debt and equity securities - Gross Unrealized Losses on Investments and Fair Values of Related Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Losses    
Less than 12 months $ 413 $ 1,453
More than 12 months 5,482 14,728
Total 5,895 16,181
Fair values    
Less than 12 months 65,164 90,810
More than 12 months 204,302 334,047
Total 269,466 424,857
Municipal    
Losses    
Less than 12 months 4 32
More than 12 months 19 117
Total 23 149
Fair values    
Less than 12 months 2,621 5,204
More than 12 months 5,918 7,960
Total 8,539 13,164
Corporate    
Losses    
Less than 12 months 9 194
More than 12 months 2,587 9,038
Total 2,596 9,232
Fair values    
Less than 12 months 10,284 19,253
More than 12 months 71,989 168,289
Total 82,273 187,542
Foreign    
Losses    
Less than 12 months 364 349
More than 12 months 2,785 5,258
Total 3,149 5,607
Fair values    
Less than 12 months 43,539 32,664
More than 12 months 119,970 145,656
Total 163,509 178,320
U.S. Treasury Bonds    
Losses    
Less than 12 months 36 878
More than 12 months 91 315
Total 127 1,193
Fair values    
Less than 12 months 8,720 33,689
More than 12 months 6,425 12,142
Total $ 15,145 $ 45,831
v3.25.4
Fair value measurements (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities $ 558,488 $ 586,615
Equity securities 47,682 82,484
Investments in debt and equity securities 606,170 669,099
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity securities 47,682 82,484
Investments in debt and equity securities 47,682 82,484
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 558,488 586,615
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity securities 0 0
Investments in debt and equity securities 0 0
Municipal    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities 12,274 14,415
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 12,274 14,415
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 143,621 210,307
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 143,621 210,307
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 348,084 313,619
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 348,084 313,619
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 54,509 48,274
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 54,509 48,274
U.S. Treasury Bonds | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities $ 0 $ 0
v3.25.4
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, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]      
Investment income $ 57,776 $ 55,370 $ 45,135
Net realized and unrealized gains (losses):      
Realized gains 6,904 3,039 3,407
Realized losses (6,510) (2,737) (5,510)
Net unrealized investment gains recognized on equity securities still held 5,165 12,635 2,069
Investment and other gains (losses) – net 5,559 12,937 (34)
Debt securities      
Debt Securities, Available-for-sale [Line Items]      
Investment income 20,128 19,198 16,274
Equity securities, short-term investments, cash equivalents and other      
Debt Securities, Available-for-sale [Line Items]      
Investment income $ 37,648 $ 36,172 $ 28,861
v3.25.4
Investment income and net realized and unrealized gains - Additional Information (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]    
Net gains on sale of debt and equity securities $ 4.4  
Contingent liability adjustments 2.0 $ (2.4)
Gain (Loss) on Disposition of Business $ 2.9 0.8
Cost-basis investment impairment   $ 1.1
v3.25.4
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, 2025
Dec. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]      
Net investment gains recognized on equity securities during the period $ 11,192 $ 12,855 $ 3,044
Less: Net realized gains on equity securities sold during the period 6,027 220 975
Net unrealized investment gains recognized on equity securities still held $ 5,165 $ 12,635 $ 2,069
v3.25.4
Investment income and net realized and unrealized gains - Proceeds from Sale of Investment (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]      
Proceeds from sales of debt securities $ 94,360 $ 35,304 $ 21,909
Proceeds from sales of equity securities 46,519 1,278 38,548
Total proceeds from sales of investments in securities $ 140,879 $ 36,582 $ 60,457
v3.25.4
Income taxes - Income Tax Expense (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current income tax expense:      
Federal $ 12,555 $ 7,170 $ 5,638
State 583 955 62
Foreign 13,999 13,409 16,347
Current income tax expense 27,137 21,534 22,047
Deferred income tax expense (benefit):      
Federal 11,587 6,536 (1,919)
State (1,852) (179) 107
Foreign (1,461) (1,736) (4,972)
Deferred income tax expense (benefit) 8,274 4,621 (6,784)
Total income tax expense $ 35,411 $ 26,155 $ 15,263
v3.25.4
Income taxes - Schedule of Components of Income Before Taxes (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Domestic $ 107,710 $ 56,657 $ 4,980
Foreign 43,236 42,808 40,722
Income before taxes $ 150,946 $ 99,465 $ 45,702
v3.25.4
Income Taxes - Income Taxes Paid (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Federal $ 7,200 $ 6,960 $ (6,085)
State 1,756 1,595 1,615
Foreign:      
Total income taxes paid, net 24,296 25,766 5,345
Canada      
Foreign:      
Total Foreign 9,332 13,710 6,707
Australia      
Foreign:      
Total Foreign 5,708 2,951 2,156
Mexico      
Foreign:      
Total Foreign 0 261 738
Other      
Foreign:      
Total Foreign $ 300 $ 289 $ 214
v3.25.4
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, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
U.S. Federal Statutory Tax Rate $ 31,698 $ 20,888 $ 9,597
State and local income taxes, net of federal benefit (1,392) 576 156
Effect of changes in laws and tax rates (2,813) 0 0
Effect of cross-border tax laws (856) (2,951) (5,197)
Research and development credits (1,730) (1,850) (1,431)
Change in valuation allowance 1,805 3,650 5,843
Meals and entertainment 1,377 1,224 1,042
Excess covered employee compensation 1,986 1,706 683
Share-based compensation 758 333 1,326
Return-to-provision adjustments 557 379 1,517
Amended return adjustments 0 0 (1,123)
Other — net 284 (753) (114)
Change in uncertain tax positions 279 492 271
Total income tax expense $ 35,411 $ 26,155 $ 15,263
Percent      
U.S. Federal Statutory Tax Rate 21.00% 21.00% 21.00%
State and local income taxes, net of federal benefit (0.90%) 0.60% 0.30%
Effect of changes in laws and tax rates (1.90%) 0.00% 0.00%
Effect of cross-border tax laws (0.60%) (3.00%) (11.40%)
Research and development credits (1.20%) (1.90%) (3.10%)
Change in valuation allowance 1.20% 3.70% 12.80%
Meals and entertainment 0.90% 1.20% 2.30%
Excess covered employee compensation 1.30% 1.70% 1.50%
Share-based compensation 0.50% 0.30% 2.90%
Return-to-provision adjustments 0.40% 0.40% 3.30%
Amended return adjustments 0.00% 0.00% (2.50%)
Other — net 0.20% (0.80%) (0.30%)
Change in uncertain tax positions 0.20% 0.50% 0.60%
Income tax expense 23.50% 26.30% 33.40%
Canada      
Amount      
Foreign income tax rate differential $ 1,836 $ 1,787 $ 1,800
Other $ (496) $ 147 $ 326
Percent      
Foreign income tax rate differential 1.20% 1.80% 3.90%
Other (0.30%) 0.10% 0.70%
Australia      
Amount      
Foreign income tax rate differential $ 1,114 $ 905 $ 694
Other $ 28 $ (205) $ 205
Percent      
Foreign income tax rate differential 0.70% 0.90% 1.50%
Other 0.00% (0.20%) 0.50%
Other      
Amount      
Other $ 976 $ (173) $ (332)
Percent      
Other 0.60% (0.20%) (0.70%)
v3.25.4
Income taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Net operating loss (NOL) carryforwards $ 35,541 $ 24,917
Accrued expenses 32,025 21,842
Tax credit carryforwards 17,006 15,201
Foreign currency translation adjustments 6,937 6,260
Federal offset to Canadian deferred tax liability 6,273 7,166
Interest expense carryforward related to an acquisition 2,535 0
Allowance for credit losses 1,711 1,741
Investments 942 819
Capitalized research and development costs 0 6,722
Other 83 230
Deferred tax assets – gross 103,053 84,898
Valuation allowance (19,983) (17,327)
Deferred tax assets – net 83,070 67,571
Deferred tax liabilities:    
Amortization – goodwill and other intangibles (56,191) (50,002)
Other intangible assets from acquisitions (28,642) (10,535)
Capitalized research and development costs (23,769) 0
Title loss provisions (8,621) (17,295)
Fixed assets (3,149) (5,411)
Deferred compensation on life insurance policies (2,943) (2,546)
Net unrealized gains on investments in securities (2,455) (2,940)
Investments (1,845) (1,391)
Other (1,122) (890)
Deferred tax liabilities - gross (128,737) (91,010)
Net deferred income tax liability $ (45,667) $ (23,439)
v3.25.4
Income taxes - Additional Information (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Income Tax Disclosure [Abstract]  
U.S. federal NOL carryforward from an acquisition in 2021 with no expiration $ 25.0
Foreign tax credit carryforwards with expiration $ 14.3
v3.25.4
Goodwill and other intangibles - Schedule of Changes in Goodwill (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill summary    
Beginning balances $ 1,084,139 $ 1,072,129
Acquisitions 187,819 12,666
Purchase accounting adjustments   186
Disposals   (842)
Ending balances 1,271,958 1,084,139
Title | Operating Segments    
Goodwill summary    
Beginning balances 719,945 707,935
Acquisitions 8,608 12,666
Purchase accounting adjustments   186
Disposals   (842)
Ending balances 728,553 719,945
Real Estate Solutions | Operating Segments    
Goodwill summary    
Beginning balances 364,194 364,194
Acquisitions 179,211 0
Purchase accounting adjustments   0
Disposals   0
Ending balances 543,405 364,194
Corporate | Operating Segments    
Goodwill summary    
Beginning balances 0 0
Acquisitions 0 0
Purchase accounting adjustments   0
Disposals   0
Ending balances $ 0 $ 0
v3.25.4
Goodwill and other intangibles - Additional Information (Details) - USD ($)
$ in Thousands
1 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Indefinite-Lived Intangible Assets [Line Items]        
Tax-deductible goodwill $ 86,600 $ 86,600    
Other intangibles acquired 184,000 184,000 $ 12,000  
Goodwill 1,271,958 1,271,958 1,084,139 $ 1,072,129
Amortization expense of other intangibles   31,900 $ 32,100  
Future amortization expense        
Expected amortization expense in 2026 31,800 31,800    
Expected amortization expense in 2027 23,000 23,000    
Expected amortization expense in 2028 21,700 21,700    
Expected amortization expense in 2029 21,000 21,000    
Expected amortization expense in 2030 19,700 19,700    
Mortgage Contracting Services        
Indefinite-Lived Intangible Assets [Line Items]        
Cash purchase consideration 332,700      
Goodwill 152,200 152,200    
Other intangible assets 175,000 175,000    
Trade receivables 17,900 17,900    
Accounts payable and accrued liabilities $ 10,200 $ 10,200    
v3.25.4
Goodwill and other intangibles - Schedule of Other Intangibles by Major Class (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Gross $ 488,295 $ 304,321
Accumulated amortization (163,160) (131,246)
Net 325,135 173,075
Customer Relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross 315,402 174,302
Accumulated amortization (61,064) (46,141)
Net 254,338 128,161
Technology    
Finite-Lived Intangible Assets [Line Items]    
Gross 106,763 81,062
Accumulated amortization (69,244) (53,984)
Net 37,519 27,078
Others    
Finite-Lived Intangible Assets [Line Items]    
Gross 66,130 48,957
Accumulated amortization (32,852) (31,121)
Net $ 33,278 $ 17,836
v3.25.4
Notes payable and line of credit - Schedule of Notes Payable (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Nov. 30, 2021
Debt Instrument [Line Items]      
Other notes payable $ 372 $ 169  
Notes payable and line of credit 646,606 445,841  
Line of credit      
Debt Instrument [Line Items]      
Line of credit facility $ 200,000 0  
Average interest rates 5.40%    
3.6% Senior Notes | Senior Notes      
Debt Instrument [Line Items]      
Stated interest rate (as a percent) 3.60%   3.60%
3.6% Senior Notes $ 446,234 $ 445,672  
v3.25.4
Notes payable and line of credit - Additional Information (Details)
1 Months Ended 12 Months Ended
Nov. 30, 2021
USD ($)
d
Oct. 31, 2021
USD ($)
Dec. 31, 2025
USD ($)
Oct. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Line of credit | Revolving Credit Facility          
Debt Instrument [Line Items]          
Revolving line of credit     $ 200,000,000.0    
Remaining borrowing capacity     97,500,000    
Line of credit | Letter of credit          
Debt Instrument [Line Items]          
Remaining borrowing capacity     $ 2,500,000    
3.6% Senior Notes | 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 $ 444,000,000.0        
Fair value of senior notes     $ 397,600,000   $ 392,200,000
3.6% Senior Notes | Senior Notes | At any time prior to August 15, 2031          
Debt Instrument [Line Items]          
Redemption notice period | d 15        
3.6% Senior Notes | Senior Notes | At any time prior to August 15, 2031 | Minimum          
Debt Instrument [Line Items]          
Redemption price percentage 100.00%        
New Credit Agreement | Line of credit | Revolving Credit Facility          
Debt Instrument [Line Items]          
Maximum borrowing capacity   $ 200,000,000.0   $ 300,000,000.0  
Increase limit       $ 125,000,000.0  
New Credit Agreement | Line of credit | Minimum          
Debt Instrument [Line Items]          
Commitment fee (percent)   0.10%      
New Credit Agreement | Line of credit | Minimum | Base Rate          
Debt Instrument [Line Items]          
Basis spread on variable rate, line of credit (percent)   0.25%      
New Credit Agreement | Line of credit | Minimum | Secured Overnight Financing Rate (SOFR)          
Debt Instrument [Line Items]          
Basis spread on variable rate, line of credit (percent)   1.25%      
New Credit Agreement | Line of credit | Maximum          
Debt Instrument [Line Items]          
Commitment fee (percent)   0.25%      
New Credit Agreement | Line of credit | Maximum | Base Rate          
Debt Instrument [Line Items]          
Basis spread on variable rate, line of credit (percent)   0.625%      
New Credit Agreement | Line of credit | Maximum | Secured Overnight Financing Rate (SOFR)          
Debt Instrument [Line Items]          
Basis spread on variable rate, line of credit (percent)   1.625%      
v3.25.4
Estimated title losses (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Loss Contingency Accrual      
Balances at January 1 $ 511,534 $ 528,269 $ 549,448
Provisions:      
Current year 79,044 71,350 66,818
Previous policy years 2,624 9,061 13,464
Total provisions 81,668 80,411 80,282
Payments, net of recoveries:      
Current year (18,249) (17,917) (19,209)
Previous policy years (58,598) (67,504) (85,108)
Total payments, net of recoveries (76,847) (85,421) (104,317)
Effects of changes in foreign currency exchange rates 8,118 (11,725) 2,856
Balances at December 31 $ 524,473 $ 511,534 $ 528,269
Loss ratios as a percentage of title operating revenues:      
Current year provisions 3.30% 3.50% 3.40%
Total provisions 3.40% 3.90% 4.10%
v3.25.4
Share-based payments - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Intrinsic Value $ 13.8    
Remaining contractual term 4 years 3 months 18 days    
Fair value of vested shares $ 13.2 $ 13.0  
Compensation costs $ 16.1 12.7 $ 10.1
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 and restricted stock units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Aggregate fair values at grant date $ 17.1 $ 18.9 $ 12.3
Granted (in shares) 241,800 297,400 299,000
Average grant price (in usd per share) $ 70.69 $ 63.41 $ 41.09
Restricted stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Tax benefits related to vesting of awards $ 2.3 $ 2.2 $ 0.9
Compensation costs not yet recognized $ 13.8    
Compensation costs not yet recognized, period for recognition   1 year  
v3.25.4
Share-based payments - Schedule of Restricted Stock Unit Activity (Details) - Restricted stock unit
12 Months Ended
Dec. 31, 2025
$ / shares
shares
Units  
Outstanding at beginning (in shares) | shares 516,090
Granted (in shares) | shares 241,783
Converted (in shares) | shares (191,681)
Forfeited (in shares) | shares (11,653)
Outstanding at ending (in shares) | shares 554,539
Nonvested balance at end of period (in shares) | shares 530,938
Weighted-Average Grant-Date Fair Value per Share ($)  
Outstanding at beginning (in usd per share) | $ / shares $ 54.50
Granted (in usd per share) | $ / shares 70.69
Converted (in usd per share) | $ / shares 55.59
Forfeited (in usd per share) | $ / shares 59.95
Outstanding at ending (in usd per share) | $ / shares 61.06
Nonvested balance at end of period (in usd per share) | $ / shares $ 61.54
v3.25.4
Share-based payments - Schedule Of Options Activity (Details)
12 Months Ended
Dec. 31, 2025
$ / shares
shares
Units  
Outstanding beginning (in shares) | shares 536,000
Exercised (in shares) | shares (40,801)
Outstanding ending (in shares) | shares 495,199
Nonvested (in shares) | shares 0
Weighted-Average Exercise Price ($)  
Outstanding beginning (in usd per share) | $ / shares $ 42.62
Exercised (in usd per share) | $ / shares 45.73
Outstanding ending (in usd per share) | $ / shares 42.36
Nonvested (in shares) | $ / shares $ 0
v3.25.4
Earnings per share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Numerator (in $ thousands):      
Net income attributable to Stewart $ 115,535 $ 73,310 $ 30,439
Denominator (in thousands):      
Basic average shares outstanding (in shares) 28,069 27,628 27,293
Diluted average shares outstanding (in shares) 28,560 28,129 27,520
Basic earnings per share attributable to Stewart (in usd per share) $ 4.12 $ 2.65 $ 1.12
Diluted earnings per share attributable to Stewart (in usd per share) $ 4.05 $ 2.61 $ 1.11
Stock options      
Denominator (in thousands):      
Average number of dilutive shares relating to restricted shares and units (in shares) 201 225 69
Restricted stock and restricted stock units      
Denominator (in thousands):      
Average number of dilutive shares relating to restricted shares and units (in shares) 290 276 158
v3.25.4
Reinsurance (Details) - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Insurance [Abstract]      
Total amount of premiums for assumed and ceded risks as a percentage of consolidated title revenue (less than) 0.30% 0.30% 0.30%
Reinsurance recoverables $ 0 $ 0  
Reinsurance payable $ 0 $ 0  
v3.25.4
Leases - Additional Information (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating lease expense $ 46.6 $ 46.3 $ 49.6
Short-term lease expense 3.2 3.4 3.3
Total finance lease expense $ 0.2 $ 0.3 $ 0.6
v3.25.4
Leases - Schedule of Lease Related Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating lease assets, net of accumulated amortization $ 106,034 $ 102,210
Finance lease assets, net of accumulated depreciation 0 473
Total lease assets $ 106,034 $ 102,683
v3.25.4
Leases - Schedule of Other Information Related to Operating and Finance Leases (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Cash paid for amounts included in the measurement of lease liabilities $ 45,114 $ 48,533
Lease assets obtained in exchange for lease obligations $ 45,620 $ 25,980
Weighted average remaining lease term (years) 4 years 8 months 12 days 3 years 9 months 18 days
Weighted average discount rate 5.10% 4.70%
v3.25.4
Leases - Schedule of Future Minimum Lease Payments Under Operating Leases (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Operating    
2026 $ 37,096  
2027 28,353  
2028 21,641  
2029 16,833  
2030 10,672  
Thereafter 26,675  
Total future minimum lease payments 141,270  
Less: imputed interest (19,117)  
Net future minimum lease payments $ 122,153 $ 118,835
v3.25.4
Contingent liabilities and commitments (Details)
$ in Millions
Dec. 31, 2025
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 1,700.0
Escrow Account Deposit - Section 1031 Exchange  
Loss Contingencies [Line Items]  
Contingent liability, escrow deposit $ 1,200.0
v3.25.4
Revenues (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Operating revenues $ 2,858,301 $ 2,422,112 $ 2,212,240
Direct      
Disaggregation of Revenue [Line Items]      
Operating revenues 822,784 702,565 635,435
Agency      
Disaggregation of Revenue [Line Items]      
Operating revenues 1,262,568 1,043,173 985,989
Escrow fees      
Disaggregation of Revenue [Line Items]      
Operating revenues 171,826 157,282 153,670
Real estate solutions and abstract fees      
Disaggregation of Revenue [Line Items]      
Operating revenues 509,321 423,976 330,804
Other revenues      
Disaggregation of Revenue [Line Items]      
Operating revenues $ 91,802 $ 95,116 $ 106,342
v3.25.4
Segment information - Additional Information (Details)
12 Months Ended
Dec. 31, 2025
segment
Segment Reporting [Abstract]  
Reportable segments 3
v3.25.4
Segment information - Schedule of Statement of Income Information Related to Reportable Segments (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Revenues $ 2,921,636 $ 2,490,419 $ 2,257,341
Expenses      
Amounts retained by agencies 1,047,660 864,807 813,519
Employee costs 830,594 745,405 712,794
Other operating expenses 714,626 603,959 507,701
Title losses and related claims 81,668 80,411 80,282
Depreciation and amortization 61,070 61,612 62,447
Interest 20,444 19,914 19,737
Total expenses 2,756,062 2,376,108 2,196,480
Income before taxes and noncontrolling interests 165,574 114,311 60,861
Operating Segments | Title:      
Segment Reporting Information [Line Items]      
Revenues 2,482,018 2,132,955 1,997,128
Expenses      
Amounts retained by agencies 1,047,660 864,807 813,519
Employee costs 754,339 677,378 648,832
Other operating expenses 381,832 339,950 320,529
Title losses and related claims 81,668 80,411 80,282
Depreciation and amortization 33,712 35,047 35,000
Interest 1,721 1,584 1,442
Total expenses 2,300,932 1,999,177 1,899,604
Income before taxes and noncontrolling interests 181,086 133,778 97,524
Operating Segments | Real estate solutions:      
Segment Reporting Information [Line Items]      
Revenues 438,368 358,673 263,681
Expenses      
Employee costs 62,479 54,572 49,320
Other operating expenses 327,668 258,827 179,640
Depreciation and amortization 26,239 25,104 25,802
Interest 3 9 239
Total expenses 416,389 338,512 255,001
Income before taxes and noncontrolling interests 21,979 20,161 8,680
Operating Segments | Corporate      
Segment Reporting Information [Line Items]      
Revenues 1,250 (1,209) (3,468)
Expenses      
Employee costs 13,776 13,455 14,642
Other operating expenses 5,126 5,182 7,532
Depreciation and amortization 1,119 1,461 1,645
Interest 18,720 18,321 18,056
Total expenses 38,741 38,419 41,875
Income before taxes and noncontrolling interests $ (37,491) $ (39,628) $ (45,343)
v3.25.4
Segment information - Schedule of Revenues in United States and All International Operations (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net revenue $ 2,921,636 $ 2,490,419 $ 2,257,341
United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net revenue 2,765,208 2,342,286 2,122,565
International      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net revenue $ 156,428 $ 148,133 $ 134,776
v3.25.4
Other comprehensive income (loss) (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Before-Tax Amount      
Other comprehensive income (loss) $ 26,249 $ (10,499) $ 20,143
Tax Expense (Benefit)      
Other comprehensive income (loss) 4,760 (2,317) 4,015
Net-of-Tax Amount      
Other comprehensive income (loss), net of taxes 21,489 (8,182) 16,128
Foreign currency translation adjustments      
Before-Tax Amount      
Other comprehensive income (loss) 13,633 (18,885) 6,407
Tax Expense (Benefit)      
Other comprehensive income (loss) 2,111 (4,078) 1,130
Net-of-Tax Amount      
Other comprehensive income (loss), net of taxes 11,522 (14,807) 5,277
Net unrealized gains and losses on investments      
Before-Tax Amount      
Change in net unrealized gains and losses on investments 10,677 6,989 13,242
Reclassification adjustment for realized gains and losses on investments 1,939 1,397 494
Other comprehensive income (loss) 12,616 8,386 13,736
Tax Expense (Benefit)      
Change in net unrealized gains and losses on investments 2,242 1,468 2,781
Reclassification adjustment for realized gains and losses on investments 407 293 104
Other comprehensive income (loss) 2,649 1,761 2,885
Net-of-Tax Amount      
Change in net unrealized gains and losses on investments 8,435 5,521 10,461
Reclassification adjustment for realized gains and losses on investments 1,532 1,104 390
Other comprehensive income (loss), net of taxes $ 9,967 $ 6,625 $ 10,851
v3.25.4
Common Stock (Details) - USD ($)
$ / shares in Units, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Equity [Abstract]      
Common stock issued an aggregate (in shares) 2,185,000    
Common stock, par value (in usd per share) $ 1 $ 1  
Issuance of Common Stock $ 140,807 $ 0 $ 0
v3.25.4
Schedule I - Financial Information of the Registrant (Parent Company) - Statements of Income and Retained Earnings (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Expenses      
Interest $ 20,444 $ 19,914 $ 19,737
Other operating expenses 714,626 603,959 507,701
Total expenses 2,756,062 2,376,108 2,196,480
Income tax (expense) benefit (35,411) (26,155) (15,263)
Net income attributable to Stewart 115,535 73,310 30,439
Retained Earnings [Roll Forward]      
Retained earnings at beginning of year 1,089,484    
Cash dividends on Common Stock (59,604) (54,667) (51,414)
Retained earnings at end of year 1,145,415 1,089,484  
Parent company      
Revenues      
Net interest and other income (net realized losses) 433 (159) (2,222)
Expenses      
Interest 19,054 18,691 18,402
Other operating expenses 10,118 6,033 8,440
Total expenses 29,172 24,724 26,842
Loss before taxes and income from investments in subsidiaries (28,739) (24,883) (29,064)
Income tax (expense) benefit (21) 417 (28)
Income from investments in subsidiaries 144,295 97,776 59,531
Net income attributable to Stewart 115,535 73,310 30,439
Retained Earnings [Roll Forward]      
Retained earnings at beginning of year 1,089,484 1,070,841 1,091,816
Cash dividends on Common Stock (59,604) (54,667) (51,414)
Retained earnings at end of year $ 1,145,415 $ 1,089,484 $ 1,070,841
v3.25.4
Schedule I - Financial Information of the Registrant (Parent Company) - Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Assets        
Cash and cash equivalents $ 321,775 $ 216,298    
Property and equipment, at cost:        
Accumulated depreciation (192,079) (180,200)    
Total property and equipment, at cost 85,330 87,613    
Investments in subsidiaries, on an equity-method basis 4,932 4,581    
Operating lease assets 106,034 102,210    
Goodwill 1,271,958 1,084,139 $ 1,072,129  
Other assets 204,182 131,479    
Total assets 3,252,805 2,730,145    
Liabilities        
Accounts payable and other liabilities 255,852 214,580    
Operating lease liabilities 122,153 118,835    
Total liabilities 1,602,407 1,319,056    
Contingent liabilities and commitments    
Stockholders’ equity        
Common Stock – $1 par, authorized 51,500,000; issued 30,575,472 and 28,115,852; outstanding 30,223,311 and 27,763,691, respectively 30,577 28,117    
Additional paid-in capital 489,666 330,604    
Retained earnings 1,145,415 1,089,484    
Accumulated other comprehensive loss (AOCI):        
Foreign currency translation adjustments (21,864) (33,386)    
Net unrealized investment losses (44) (10,011)    
Treasury stock – 352,161 common shares, at cost (2,666) (2,666)    
Total stockholders’ equity attributable to Stewart 1,641,084 1,402,142    
Total liabilities and stockholders' equity 3,252,805 2,730,145    
Parent company        
Assets        
Cash and cash equivalents 110,128 1,070    
Receivables from affiliates 45,537 3,772    
Property and equipment, at cost:        
Furniture and equipment 2,060 2,060    
Accumulated depreciation (953) (545)    
Total property and equipment, at cost 1,107 1,515    
Investments in subsidiaries, on an equity-method basis 2,143,882 1,853,640    
Operating lease assets 15,926 312    
Goodwill 8,068 8,068    
Other assets 20,236 16,194    
Total assets 2,344,884 1,884,571    
Liabilities        
Accounts payable and other liabilities 28,036 26,256    
Operating lease liabilities 19,530 501    
Notes payable and line of credit 656,234 455,672    
Total liabilities 703,800 482,429    
Contingent liabilities and commitments 0 0    
Stockholders’ equity        
Common Stock – $1 par, authorized 51,500,000; issued 30,575,472 and 28,115,852; outstanding 30,223,311 and 27,763,691, respectively 30,577 28,117    
Additional paid-in capital 489,666 330,604    
Retained earnings 1,145,415 1,089,484 $ 1,070,841 $ 1,091,816
Accumulated other comprehensive loss (AOCI):        
Foreign currency translation adjustments (21,864) (33,386)    
Net unrealized investment losses (44) (10,011)    
Treasury stock – 352,161 common shares, at cost (2,666) (2,666)    
Total stockholders’ equity attributable to Stewart 1,641,084 1,402,142    
Total liabilities and stockholders' equity $ 2,344,884 $ 1,884,571    
v3.25.4
Schedule I - Financial Information of the Registrant (Parent Company) - Balance Sheets (Additional Information) (Details) - $ / shares
Dec. 31, 2025
Dec. 31, 2024
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) 30,575,472 28,115,852
Common stock, shares outstanding (in shares) 30,223,311 27,763,691
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) 30,575,472 28,115,852
Common stock, shares outstanding (in shares) 30,223,311 27,763,691
Treasury stock, common shares (in shares) 352,161 352,161
v3.25.4
Schedule I - Financial Information of the Registrant (Parent Company) - Statements of Cash Flows (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of net income to cash provided by operating activities:      
Net income $ 115,535 $ 73,310 $ 30,439
Add (deduct):      
Depreciation 61,070 61,612 62,447
(Increase) decrease in receivables – net (14,840) (12,054) (5,355)
(Increase) decrease in other assets – net (20,129) (17,529) 3,178
Increase (decrease) in payables and accrued liabilities – net 23,768 13,325 (6,432)
Income from and other adjustments for subsidiaries (2,465) (1,759) (1,071)
Cash provided by operating activities 205,688 135,609 83,042
Investing activities:      
Purchase of property and equipment (73,409) (40,468) (37,791)
Cash used by investing activities (368,581) (87,263) (29,969)
Financing activities:      
Dividends paid (58,485) (53,916) (50,523)
Repurchases of Common Stock (3,887) (3,844) (1,783)
Proceeds from stock option and employee stock purchase plan exercises 7,502 10,550 4,970
Issuance of Common Stock 140,807 0 0
Other - net (1,320) 54 0
Cash provided (used) by financing activities 265,210 (60,958) (69,099)
Net change in cash and cash equivalents 105,477 (17,067) (15,002)
Cash and cash equivalents at beginning of year 216,298 233,365 248,367
Cash and cash equivalents at end of year 321,775 216,298 233,365
Supplemental information:      
Income taxes paid, net 24,296 25,766 5,345
Interest paid 17,771 17,460 17,169
Parent company      
Reconciliation of net income to cash provided by operating activities:      
Net income 115,535 73,310 30,439
Add (deduct):      
Depreciation 408 355 169
(Increase) decrease in receivables – net (41,765) 46,411 (1,128)
(Increase) decrease in other assets – net (3,065) 1,301 (764)
Increase (decrease) in payables and accrued liabilities – net 4,099 (2,881) 1,717
Income from and other adjustments for subsidiaries 119,137 (13,743) 11,753
Cash provided by operating activities 194,349 104,753 42,186
Investing activities:      
Investments in and contributions to subsidiaries (370,251) (62,197) (19,000)
Purchase of property and equipment 0 (346) (1,692)
Cash used by investing activities (370,251) (62,543) (20,692)
Financing activities:      
Dividends paid (58,485) (53,916) (50,523)
Repurchases of Common Stock (3,887) (3,844) (1,783)
Proceeds from stock option and employee stock purchase plan exercises 7,502 10,550 4,970
Proceeds from notes payable and line of credit 200,000 0 0
Issuance of Common Stock 140,807 0 0
Other - net (977) 0 0
Cash provided (used) by financing activities 284,960 (47,210) (47,336)
Net change in cash and cash equivalents 109,058 (5,000) (25,842)
Cash and cash equivalents at beginning of year 1,070 6,070 31,912
Cash and cash equivalents at end of year 110,128 1,070 6,070
Supplemental information:      
Income taxes paid, net 1,547 4,961 0
Interest paid $ 17,930 $ 17,035 $ 17,197
v3.25.4
Schedule I - Financial Information of the Registrant (Parent Company) - Additional Information (Details) - Subsidiary - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Stewart Title Guaranty Company      
Condensed Financial Statements, Captions [Line Items]      
Dividends paid by guaranty $ 173.0 $ 30.0 $ 0.0
Unregulated Subsidiaries      
Condensed Financial Statements, Captions [Line Items]      
Dividends paid by guaranty $ 53.2 $ 46.5 $ 62.0
v3.25.4
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Estimated title losses      
Movement in Valuation Allowances and Reserves      
Balance at beginning of period $ 511,534 $ 528,269 $ 549,448
Charged to costs and expenses 81,668 80,411 80,282
Deductions 68,729 97,146 101,461
Balance At end of period 524,473 511,534 528,269
Valuation allowance for deferred tax assets      
Movement in Valuation Allowances and Reserves      
Balance at beginning of period 17,327 13,362 6,202
Charged to costs and expenses 2,656 4,062 8,851
Deductions 0 97 1,691
Balance At end of period 19,983 17,327 13,362
Allowance for credit losses      
Movement in Valuation Allowances and Reserves      
Balance at beginning of period 7,725 7,583 7,309
Charged to costs and expenses 2,318 2,214 1,934
Deductions 2,238 2,072 1,660
Balance At end of period $ 7,805 $ 7,725 $ 7,583