Stewart Information Services (STC) 10-K1 Mar 212020 FY Annual reportFinancial data

Company Profile

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2020	Feb. 19, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
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
Entity Shell Company	false
Entity Public Float			$ 752.2
Entity Common Stock, Shares Outstanding		26,752,903
Documents Incorporated by Reference	Portions of the definitive proxy statement (the Proxy Statement), in connection with the Registrant's 2020 Annual Meeting of Stockholders, are incorporated herein by reference in Part III of this document.
Document Fiscal Year Focus	2020
Entity Central Index Key	0000094344
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues
Operating revenues	$ 2,271,503	$ 1,877,453	$ 1,887,882
Investment income	18,607	19,795	19,737
Net realized and unrealized (losses) gains	(1,678)	42,760	53
Revenues	2,288,432	1,940,008	1,907,672
Expenses
Amounts retained by agencies	944,480	799,229	827,046
Employee costs	613,195	567,173	562,469
Other operating expenses	375,188	345,349	345,307
Title losses and related claims	115,224	84,423	71,514
Depreciation and amortization	19,216	22,526	24,932
Interest	2,624	4,341	3,875
Total expenses	2,069,927	1,823,041	1,835,143
Income before taxes and noncontrolling interests	218,505	116,967	72,529
Income tax expense	(48,833)	(26,695)	(13,507)
Net income	169,672	90,272	59,022
Less net income attributable to noncontrolling interests	14,767	11,657	11,499
Net income attributable to Stewart	154,905	78,615	47,523
Net income attributable to Stewart
Net income	169,672	90,272	59,022
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustments	4,789	6,478	(10,488)
Change in net unrealized gains and losses on investments	15,443	15,184	(8,922)
Reclassification adjustment for realized gains and losses on investments	(511)	410	(922)
Other comprehensive income (loss), net of taxes	19,721	22,072	(20,332)
Comprehensive income	189,393	112,344	38,690
Less comprehensive income attributable to noncontrolling interests	14,767	11,657	11,499
Comprehensive income attributable to Stewart	$ 174,626	$ 100,687	$ 27,191
Basic average shares outstanding (in shares)	24,793	23,611	23,543
Basic earnings per share attributable to Stewart (in usd per share)	$ 6.25	$ 3.33	$ 2.02
Diluted average shares outstanding (in shares)	24,913	23,753	23,685
Diluted earnings per share attributable to Stewart (in usd per share)	$ 6.22	$ 3.31	$ 2.01
Title - Direct operations
Revenues
Operating revenues	$ 1,037,852	$ 869,457	$ 833,200
Title - Agency operations
Revenues
Operating revenues	1,151,030	970,540	1,003,959
Ancillary services
Revenues
Operating revenues	$ 82,621	$ 37,456	$ 50,723

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 432,683	$ 330,609
Short-term investments	20,678	23,527
Investments in debt and equity securities, at fair value:
Statutory reserve funds	496,594	483,389
Other	187,793	161,650
Investments in debt and equity securities	684,387	645,039
Receivables:
Premiums from agencies	34,507	26,405
Trade and other	56,054	45,962
Income taxes	501	1,641
Notes	1,557	2,464
Allowance for uncollectible amounts	(4,807)	(4,469)
Total receivables	87,812	72,003
Property and equipment, at cost:
Land	2,964	3,009
Buildings	22,598	20,519
Furniture and equipment	168,147	178,416
Accumulated depreciation	(142,038)	(151,483)
Total property and equipment, at cost	51,671	50,461
Operating lease assets	106,479	99,028
Title plants, at cost	72,863	72,627
Investments in investees, on an equity method basis	6,765	6,169
Goodwill	431,477	248,890
Intangible assets, net of amortization	37,382	4,623
Deferred tax assets, net	4,330	4,407
Other assets	42,048	35,402
Total assets	1,978,575	1,592,785
Liabilities
Notes payable	101,773	110,632
Accounts payable and accrued liabilities	225,180	126,779
Operating lease liabilities	119,089	113,843
Estimated title losses	496,275	459,053
Deferred tax liabilities, net	23,852	28,719
Total liabilities	966,169	839,026
Contingent liabilities and commitments
Stockholders’ equity
Common Stock – $1 par, authorized 51,500,000; issued 27,080,403 and 24,061,568; outstanding 26,728,242 and 23,709,407, respectively	27,080	24,062
Additional paid-in capital	274,857	164,217
Retained earnings	688,819	564,392
Accumulated other comprehensive income (loss):
Foreign currency translation adjustments	(8,238)	(13,027)
Net unrealized gains on debt securities investments	25,260	10,328
Treasury stock – 352,161 common shares, at cost, for both 2020 and 2019 (including 145,820 shares held by a subsidiary)	(2,666)	(2,666)
Total stockholders’ equity attributable to Stewart	1,005,112	747,306
Noncontrolling interests	7,294	6,453
Total stockholders’ equity	1,012,406	753,759
Total liabilities and stockholders' equity	$ 1,978,575	$ 1,592,785

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	51,500,000	51,500,000
Common stock, shares issued (in shares)	27,080,403	24,061,568
Common stock, shares outstanding (in shares)	26,728,242	23,709,407
Subsidiary, Sale of Stock [Line Items]
Treasury stock, common shares (in shares)	352,161	352,161
Subsidiaries
Subsidiary, Sale of Stock [Line Items]
Treasury stock, common shares (in shares)	145,820	145,820

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of net income to cash provided by operating activities:
Net income	$ 169,672	$ 90,272	$ 59,022
Add (deduct):
Depreciation and amortization	19,216	22,526	24,932
Provision for bad debt	649	1,672	519
Net realized and unrealized losses (gains)	1,678	7,240	(53)
Amortization of net premium on debt securities investments	4,261	4,939	6,083
Payments for title losses less than (in excess of) provisions	33,229	(6,585)	(11,192)
Adjustments for insurance recoveries of title losses	228	181	1,039
(Increase) decrease in receivables – net	(6,598)	(2,917)	5,280
(Increase) decrease in other assets – net	(5,380)	6,865	4,469
Decrease (increase) in payables and accrued liabilities – net	62,738	31,471	(12,002)
Change in net deferred income taxes	(9,747)	8,669	256
Net income from equity investees	(3,504)	(3,044)	(1,940)
Dividends received from equity investees	3,704	2,721	2,551
Stock-based compensation expense	5,751	2,097	4,809
Other – net	(91)	252	404
Cash (used) provided by operating activities	275,806	166,359	84,177
Investing activities:
Proceeds from sales of investments in securities	37,240	50,605	49,442
Proceeds from matured investments in debt securities	58,729	48,716	29,631
Purchases of investments in securities	(118,301)	(77,489)	(43,057)
Net sales (purchases) of short-term investments	3,894	(639)	392
Purchases of property and equipment, net	(14,992)	(17,075)	(10,675)
Proceeds from the sale of land, buildings, property and equipment, and real estate	230	1,349	82
Net cash paid for acquisition of businesses	(199,537)	0	(18,739)
Other – net	1,367	1,573	2,303
Cash (used) provided by investing activities	(231,370)	7,040	9,379
Financing activities:
Proceeds from notes payable	16,456	30,464	14,530
Payments on notes payable	(25,581)	(27,868)	(20,118)
Purchase of remaining interest of consolidated subsidiaries	0	0	(1,101)
Cash dividends paid	(30,226)	(28,345)	(28,263)
Distributions to noncontrolling interests	(13,944)	(11,506)	(11,631)
Issuance of Common Stock	108,961	0	0
Repurchases of Common Stock	(1,054)	(532)	(1,175)
Other - net	(311)	25	0
Cash provided (used) by financing activities	54,301	(37,762)	(47,758)
Effects of changes in foreign currency exchange rates	3,337	2,905	(3,810)
Increase in cash and cash equivalents	102,074	138,542	41,988
Cash and cash equivalents at beginning of year	330,609	192,067	150,079
Cash and cash equivalents at end of year	432,683	330,609	192,067
Net changes in financial statement amounts due to purchase of subsidiaries and other assets:
Goodwill acquired	182,587	0	17,462
Intangible assets acquired	37,835	0	4,570
Receivables and other assets acquired	13,677	0	1,209
Liabilities recognized	(34,562)	0	(4,294)
Net realized gains on the transactions	0	0	(208)
Net cash paid for acquisition of subsidiaries and other assets	199,537	0	18,739
Assets purchased through capital lease obligations	0	0	4,312
Income taxes paid, net	44,756	11,992	12,854
Interest paid	$ 2,604	$ 4,241	$ 4,214

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Cumulative effect adjustments on adoption of new accounting standards (Note 1-H and Note 7)	Common Stock	Additional paid-in capital	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss)Cumulative effect adjustments on adoption of new accounting standards (Note 1-H and Note 7)	Retained Earnings	Retained EarningsCumulative effect adjustments on adoption of new accounting standards (Note 1-H and Note 7)	Treasury stock	Noncontrolling interests
Beginning balance at Dec. 31, 2017	$ 678,810	$ 0	$ 24,072	$ 159,954	$ (847)	$ (3,592)	$ 491,698	$ 3,592	$ (2,666)	$ 6,599
Increase (Decrease) in Stockholders' Equity
Net income	47,523						47,523
Dividends on Common Stock ($1.20 per share)	(28,565)						(28,565)
Stock compensation	4,809		29	4,780
Stock repurchases	(1,175)		(29)	(1,146)
Purchase of remaining interest of consolidated subsidiary	(1,101)			(946)						(155)
Change in net unrealized gains and losses on investments, net of taxes	(8,922)				(8,922)
Reclassification adjustment for realized gains and losses on investments, net of taxes	(922)				(922)
Foreign currency translation adjustments (net of tax)	(10,488)				(10,488)
Net income attributable to noncontrolling interests	11,499									11,499
Distributions to noncontrolling interests	(11,631)									(11,631)
Ending balance at Dec. 31, 2018	679,837		24,072	162,642	(24,771)		514,248		(2,666)	6,312
Increase (Decrease) in Stockholders' Equity
Net income	78,615						78,615
Dividends on Common Stock ($1.20 per share)	(28,471)						(28,471)
Stock compensation	2,097		3	2,094
Stock repurchases	(532)		(13)	(519)
Change in net unrealized gains and losses on investments, net of taxes	15,184				15,184
Reclassification adjustment for realized gains and losses on investments, net of taxes	410				410
Foreign currency translation adjustments (net of tax)	6,478				6,478
Net income attributable to noncontrolling interests	11,657									11,657
Distributions to noncontrolling interests	(11,506)									(11,506)
Net effect of changes in ownership and other	(10)									(10)
Ending balance at Dec. 31, 2019	753,759		24,062	164,217	(2,699)		564,392		(2,666)	6,453
Increase (Decrease) in Stockholders' Equity
Net income	154,905						154,905
Dividends on Common Stock ($1.20 per share)	(30,478)						(30,478)
Issuance of Common Stock	108,961		3,026	105,935
Stock compensation	5,751		18	5,733
Stock repurchases	(1,054)		(26)	(1,028)
Change in net unrealized gains and losses on investments, net of taxes	15,443				15,443
Reclassification adjustment for realized gains and losses on investments, net of taxes	(511)				(511)
Foreign currency translation adjustments (net of tax)	4,789				4,789
Net income attributable to noncontrolling interests	14,767									14,767
Distributions to noncontrolling interests	(13,944)									(13,944)
Net effect of changes in ownership and other	18									18
Ending balance at Dec. 31, 2020	$ 1,012,406		$ 27,080	$ 274,857	$ 17,022		$ 688,819		$ (2,666)	$ 7,294

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividends on common stock per share (in usd per share)	$ 1.20	$ 1.20	$ 1.20

General

General	12 Months Ended
General	Dec. 31, 2020
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 directly owned policy-issuing offices, network of independent agencies and other businesses within the Company. The Company provides its title products and services to homebuyers and sellers; residential and commercial real estate professionals; mortgage lenders and servicers; title agencies and real estate attorneys; and home builders. The Company also provides appraisal management services, search and valuation services, online notarization and closing services, and loan origination, default and servicing support services (referred to as ancillary services operations). The Company operates in the United States (U.S.) and internationally, primarily in Canada, the United Kingdom, Australia and Central Europe. Approximately 47% of consolidated title revenues for the year ended December 31, 2020 were generated in Texas, New York, California, Florida, Colorado and international markets (principally Canada). A. Management’s responsibility. The accompanying consolidated financial statements were prepared by management, who is responsible for their integrity and objectivity. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP), including management’s best judgments and estimates. Actual results could differ from those estimates. B. Consolidation. The consolidated financial statements include all subsidiaries in which the Company owns more than 50% voting rights in electing directors. All significant intercompany amounts and transactions have been eliminated and provisions have been made for noncontrolling interests. Unconsolidated investees, in which the Company typically owns 20% through 50% of the entity, are accounted for using the equity method. C. Statutory accounting. Stewart Title Guaranty Company (Guaranty) and other title insurance underwriters owned by the Company prepare financial statements in accordance with statutory accounting practices prescribed or permitted by regulatory authorities. In conforming the statutory financial statements to GAAP, statutory premium reserves and reserves for known title losses are eliminated and, in substitution, amounts are established for estimated title losses (Note 1-E), for which the net effect, after providing for income taxes, is included in the consolidated statements of income and comprehensive income. Additionally, investments in debt securities, which are carried at amortized cost for statutory accounting, are reported at fair value and the net unrealized gains and losses, net of applicable deferred taxes, on the investments are included as a component of accumulated other comprehensive income (loss) (AOCI) within stockholders’ equity. D. Revenues. Direct premiums - Premiums from title insurance policies directly issued or issued by affiliate offices are recognized at the time of the closing of the related real estate transaction. Agency premiums - Premiums from title insurance policies written by independent agencies are recognized when the policies are reported to the Company. In addition, where reasonable estimates can be made, the Company accrues for policies issued but not reported until after period end. The Company believes that reasonable estimates can be made when recent and consistent policy issuance information is available. Estimates are based on historical reporting patterns and other information obtained about independent agencies, as well as current trends in direct operations and in the title industry. In this accrual, future transactions are not being estimated. The Company is estimating revenues on policies that have already been issued by independent agencies but not yet reported to or received by the Company. Escrow fees - An escrow is a transaction pursuant to an agreement of a buyer, seller, borrower, or lender wherein an impartial third party, such as the Company, acts in a fiduciary capacity on behalf of the parties in accordance with the terms of such agreement in order to accomplish the directions stated therein. Services provided include, among others, acting as escrow or other fiduciary agent, obtaining releases, and conducting the actual closing or settlement. Escrow fees are recognized upon closing of the escrow, which is generally at the same time of the closing of the related real estate transaction. Appraisal management, search, abstract and valuation services - These 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. 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, information technology products related to real property records and closing settlement services, income from equity investees, and other services performed to facilitate the closing of real estate transactions. 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 contract. Refer to Note 18 and Note 19 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 begins with the prior period’s reserve balance for claim losses, adds the current period provision to that balance and subtracts actual paid claims, resulting in an amount that management compares 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. 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 (+5.0%/-4.0%) of its actuarially-based reserve calculation and the actuary’s point estimate, the Company’s management assesses th e major factors contributing to the different reserve estimates in order to determine the overall reasonableness of its recorded reserve, as well as the position of the recorded reserves relative to the point estimate and the estimated range of reserves. The major factors considered can change from period to period and include items such as current trends in the real estate industry (which management can assess although there is a time lag in the development of this data for use by the actuary), the size and types of claims reported and changes in the Company’s claims management process. If the recorded amount is not within a reasonable range of the Company’s third-party actuary’s point estimate, the Company will adjust the recorded reserves in the current period and reassess the provision rate on a prospective basis. Once the Company’s reserve for title losses is recorded, it is reduced in future periods as a result of claims payments and may be increased or reduced by revisions to the Company’s estimate of the overall level of required reserves. Large claims (those exceeding $1.0 million on a single claim), including large title losses due to independent agency defalcations, are analyzed and reserved for separately due to the higher dollar amount of loss, lower volume of claims reported and sporadic reporting of such claims. Due to the inherent uncertainty in predicting future title policy losses, significant judgment is required by both the Company’s management and its third-party actuaries in estimating reserves. As a consequence, the Company’s ultimate liability may be materially greater or less than its current reserves and/or its third-party actuary’s calculated estimate. F. Cash equivalents. Cash equivalents are highly liquid investments with insignificant interest rate risks and maturities of three months or less at the time of acquisition. G. Short-term investments. Short-term investments comprise time deposits with banks, federal government obligations and other investments maturing in less than one year. H. Investments in debt and equity securities. Investments in debt and equity securities are carried at fair value. Investments in debt securities are classified as available-for-sale and the net unrealized gains and losses on such investments, net of applicable deferred taxes, are included as a component of AOCI within stockholders' equity. Realized gains and losses on sales of investments are determined using the specific identification method. At the time unrealized gains and losses become realized, they are reclassified from AOCI using the specific identification method. Prior to 2020, other-than-temporary declines in fair values of investments in debt securities were charged to income. Beginning on January 1, 2020, credit losses are recognized through an allowance account, which is also charged through income but may be reversed in future periods if no longer required (refer to Note 1-Q). 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 beginning on January 1, 2018, as a result of the Company's adoption of Accounting Standards Update No. (ASU) 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities . Previously, investments in equity securities, which consist of common stocks and master limited partnership interests, were accounted for similar to investments in debt securities. In accordance with its adoption of ASU 2016-01 effective January 1, 2018, the Company reclassified outstanding net unrealized investment gains, net of taxes, of $4.6 million relating to investments in equity securities previously carried in AOCI to retained earnings in the 2018 consolidated statement of equity. I. Property and equipment. Depreciation is principally computed using the straight-line method using the following estimated useful lives: buildings – 30 to 40 years and furniture and equipment – 3 to 5 years. Maintenance and repairs are expensed as incurred while improvements are capitalized. Gains and losses are recognized at disposal. J. Title plants. Title plants include compilations of a county’s official land records, prior title examination files, copies of prior title policies, maps and related materials that are geographically indexed to a specific property. The costs of acquiring existing title plants and creating new ones, prior to the time such plants are placed in operation, are capitalized. Title plants are not amortized since there is no indication of any loss of value over time but are subject to review for impairment. The costs of maintaining and operating title plants are expensed as incurred. Gains and losses on sales of copies of title plants or interests in title plants are recognized at the time of sale. K. Impairment of long-lived assets. The Company reviews the carrying values of title plants and other long-lived assets if certain events occur that may indicate impairment. An impairment of these long-lived assets is indicated when 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. L. Goodwill. Goodwill is not amortized, but is reviewed annually during the third quarter using June 30 balances, or 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 ancillary services. 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 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 company and 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 anticipated mortgage originations, which are obtained from projections by industry experts, for the title reporting units and expected contractual revenues for the ancillary services 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. 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. M. Other intangibles. Other intangible assets are comprised principally of customer relationships, acquired technology, underwriting agreements and non-compete agreements. Intangible assets are amortized over their estimated lives, which are primarily 3 to 10 years. 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. The Company performs an analysis to determine whether the carrying amount of each intangible asset is recoverable. The carrying amount is not recoverable when it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. For any intangible asset that is not recoverable, the Company calculates the excess of the carrying amount of the intangible asset over its fair value, estimated using the income approach (DCF technique). The resulting difference of the carrying amount over the fair value is treated as the impairment of the asset and is charged to current operations. N. Fair values. The fair values of financial instruments, including cash and cash equivalents, short-term investments, notes receivable, notes payable and accounts payable, are determined by the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal, or most advantageous, market for the asset or liability in an orderly transaction between market participants at the measurement date. The net fair values of these financial instruments approximate their carrying values. Investments in debt and equity securities and certain financial instruments are carried at their fair values. O. Leases. The following accounting policy is in accordance with the Company's adoption of the new lease accounting standard effective January 1, 2019. The Company primarily leases office space, storage units, data centers and equipment, and determines if an arrangement is a lease at inception. Operating leases are included in operating lease assets and operating lease liabilities on the consolidated balance sheets. Operating lease assets represent the right to use the underlying leased assets over the corresponding lease terms. Finance leases are included in furniture and equipment and notes payable 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 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. Effective January 1, 2018, the Company adopted ASU 2018-02, Income Statement - Reporting Comprehensive Income, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which provided a one-time option to reclassify the stranded tax effects of the Tax Cuts and Jobs Act (the 2017 Act) from AOCI directly to retained earnings. The 2017 Act revised the U.S. corporate income tax regime by, among other things, lowering the corporate tax rate from 35% to 21% effective on January 1, 2018 and imposing a one-time transition tax on deemed repatriated earnings of foreign subsidiaries. The stranded tax effects resulted from the remeasurement of deferred tax assets and liabilities which were originally recorded in comprehensive income but whose remeasurement is reflected in the income statement. The Company reclassified $1.0 million of net tax expense from AOCI to retained earnings in the 2018 consolidated statement of equity as a result of the adoption. Q. Recently adopted accounting pronouncements. In June 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (Topic 326). Topic 326 changed the impairment model for financial instruments by introducing the current expected credit loss (CECL) model, which requires the immediate recognition of estimated credit losses expected to occur over the remaining life of the financial instrument. The previous GAAP generally required the recognition of credit losses when incurred. Topic 326 also amended certain accounting treatments for available-for-sale debt securities. Effective January 1, 2020, the Company adopted Topic 326 which did not result in any material impact on its consolidated financial statements. R. Impact of the COVID-19 pandemic . In March 2020, a global pandemic escalated relating to a novel strain of coronavirus (COVID-19), which resulted in a slowdown in the global economy and a U.S. declaration of a national emergency. In response to the pandemic, health and governmental bodies, including the state of Texas where the Company is headquartered, issued travel restrictions, quarantine orders, temporary closures of non-essential businesses and other restrictive measures. Currently, various levels of restrictions are still in place across the U.S. to address the spread of COVID-19. Although the title insurance industry has been deemed essential in the U.S., the pandemic and measures to contain it have caused disruptions in the real estate market and in the Company's business operations. To the extent that the COVID-19 pandemic continues or worsens, it could adversely impact the Company's future operational and financial performance, which may result in impairments of its assets. The Company is currently unable to determine the effects the COVID-19 pandemic will have on the Company's future financial statements or results of operations.

Restrictions on cash and invest

Restrictions on cash and investments	12 Months Ended
Restrictions on cash and investments	Dec. 31, 2020
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 $496.6 million and $483.4 million at December 31, 2020 and 2019, respectively. In addition, included within cash and cash equivalents are statutory reserve funds of approximately $20.0 million and $39.7 million at December 31, 2020 and 2019, respectively. Although these cash statutory reserve funds are not restricted or segregated in depository accounts, they are required to be held pursuant to state statutes. If the Company fails to maintain minimum investments or cash and cash equivalents sufficient to meet statutory requirements, the Company may be subject to fines or other penalties, including potential revocation of its business license. These funds are not available for any other purpose. In the event that insurance regulators adjust the determination of the statutory premium reserves of the Company’s title insurers, these restricted funds as well as statutory surplus would correspondingly increase or decrease. A substantial majority of consolidated cash and investments at each year end was held by the Company’s title insurance subsidiaries. Generally, the types of investments a title insurer can make are subject to legal restrictions. Furthermore, the transfer of funds by a title insurer to its parent or subsidiary operations, as well as other related party transactions, is restricted by law and generally requires the approval of state insurance authorities (see Note 3 ).

Statutory surplus and dividend

Statutory surplus and dividend restrictions	12 Months Ended
Statutory surplus and dividend restrictions	Dec. 31, 2020
Equity [Abstract]
Statutory surplus and dividend restrictions	Statutory surplus and dividend restrictions. Substantially all of the consolidated retained earnings at each year end were represented by Guaranty, which owns substantially all of 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 dividends of $30.0 million and $25.0 million in 2020 and 2018, respectively. The maximum dividend that can be paid without the TIC's approval is approximately $158.9 million in 2021. 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 $794.7 million and $617.9 million at December 31, 2020 and 2019, respectively. Statutory net income for Guaranty was $133.2 million, $38.3 million and $74.2 million in 2020, 2019 and 2018, 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, 2020, and each of its underwriter entities was in compliance with such requirements as of December 31, 2020.

Investments in debt and equity

Investments in debt and equity securities	12 Months Ended
Investments in debt and equity securities	Dec. 31, 2020
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: 2020 2019 (in $ thousands) Investments in: Debt securities 631,386 605,721 Equity securities 53,001 39,318 684,387 645,039 As of December 31, 2020 a nd 2019, included in the above fair values of investments in equity securities were net unrealized investment gains of $4.4 million and $6.9 million, respectively. The amortized costs and fair values of investments in debt securities as of December 31, are as follows: 2020 2019 Amortized Fair Amortized Fair (in $ thousands) Municipal 45,138 47,603 52,176 53,823 Corporate 285,962 305,450 299,074 309,142 Foreign 261,748 271,711 234,734 236,073 U.S. Treasury Bonds 6,564 6,622 6,664 6,683 599,412 631,386 592,648 605,721 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 $240.4 million and $206.5 million as of December 31, 2020 and 2019, respectively, and United Kingdom treasury and corporate bonds with aggregate fair values of $25.2 million and $24.1 million as of December 31, 2020 and 2019, respectively. Gross unrealized gains and losses on investments in debt securities at December 31, were: 2020 2019 Gains Losses Gains Losses (in $ thousands) Municipal 2,465 — 1,649 2 Corporate 19,594 106 10,091 23 Foreign 10,024 61 2,362 1,023 U.S. Treasury Bonds 82 24 60 41 32,165 191 14,162 1,089 Debt securities at December 31, 2020 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized Fair (in $ thousands) In one year or less 79,668 80,400 After one year through five years 304,610 317,567 After five years through ten years 184,215 198,443 After ten years 30,919 34,976 599,412 631,386 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, 2020, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values (in $ thousands) Municipal — — — — — — Corporate 106 13,518 — — 106 13,518 Foreign 40 2,912 21 254 61 3,166 U.S. Treasury Bonds — — 24 1,022 24 1,022 146 16,430 45 1,276 191 17,706 The number of specific debt securities investment holdings in an unrealized loss position as of December 31, 2020 was 12. Of these securities, three were in unrealized loss positions for more than 12 mont hs. During 2020, the overall investment fair values increased, primarily resulting from the effect of lower interest rates which was partially offset by increased credit spreads. Since the Company does not intend to sell and will more li kely 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, 2019, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values (in $ thousands) Municipal 2 53 — — 2 53 Corporate 23 7,420 — — 23 7,420 Foreign 318 92,108 705 55,875 1,023 147,983 U.S. Treasury Bonds — — 41 2,215 41 2,215 343 99,581 746 58,090 1,089 157,671 Investment income and net realized and unrealized gains. Income from investments and net realized and unrealized gains for the years ended December 31 are detailed below: 2020 2019 2018 (in $ thousands) Investment income: Debt securities 15,026 15,580 17,431 Short-term investments, cash equivalents and other 3,581 4,215 2,306 18,607 19,795 19,737 Net realized and unrealized (losses) gains: Realized gains 2,231 53,465 2,698 Realized losses (1,598) (14,747) (483) Net unrealized investment (losses) gains recognized on equity securities still held (2,311) 4,042 (2,162) (1,678) 42,760 53 In 2020, net realized and unrealized losses included $2.3 million of net unrealized investment losses on equity securities held at year-end and $0.6 million of net realized losses from sales of securities investments, partially offset by $1.2 million of realized gains from settlements of equity investments with no previously readily determinable fair values (cost-basis investments). In 2019, net realized and unrealized gains included a $50.0 million gain related to the fee received from the terminated merger with Fidelity National Financial, Inc. (FNF), $4.0 million of net unrealized investment gains on equity securities held at year-end and $2.5 million of realized gains from sales of securities investments, partially offset by $14.7 million of impairment expenses primarily related to title plants, buildings, intangible assets, equity-method investments and other assets. In 2018, net realized and unrealized gains included $1.3 million of realized gains from settlements of cost-basis investments and $2.2 million of net unrealized investment losses on equity securities held at year-end. Net investment gains and losses recognized for the years ended December 31 related to investments in equity securities are follows: 2020 2019 2018 (in $ thousands) Total net investment (losses) gains recognized on equity securities during the period (3,137) 4,825 (2,538) Less: Net realized (losses) gains on equity securities sold during the period (826) 783 (376) Net unrealized investment (losses) gains recognized on equity securities still held at December 31 (2,311) 4,042 (2,162) Proceeds from sales of investments in securities for the years ended December 31 are as follows: 2020 2019 2018 (in $ thousands) Proceeds from sales of debt securities 36,449 46,834 43,556 Proceeds from sales of equity securities 791 3,771 5,886 Total proceeds from sales of investments in securities 37,240 50,605 49,442

Fair value measurements

Fair value measurements	12 Months Ended
Fair value measurements	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements. The Fair Value Measurements and Disclosures Topic (Topic 820) of the FASB's Accounting Standards Codification (ASC) defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal, or most advantageous, market for the asset or liability in an orderly transaction between market participants at the measurement date. This guidance 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, 2020, financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Level 3 Fair value (in $ thousands) Investments in securities: Debt securities: Municipal — 47,603 — 47,603 Corporate — 305,450 — 305,450 Foreign — 271,711 — 271,711 U.S. Treasury Bonds — 6,622 — 6,622 Equity securities: 53,001 — — 53,001 53,001 631,386 — 684,387 At December 31, 2019, financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Level 3 Fair value (in $ thousands) Investments in securities: Debt securities: Municipal — 53,823 — 53,823 Corporate — 309,142 — 309,142 Foreign — 236,073 — 236,073 U.S. Treasury Bonds — 6,683 — 6,683 Equity securities: 39,318 — — 39,318 39,318 605,721 — 645,039 At December 31, 2020, Level 1 financial instruments consist of equity securities. Level 2 financial instruments consist of municipal, governmental, and corporate bonds, both U.S. and foreign. In accordance with the Company’s policies and guidelines which incorporate relevant statutory requirements, the Company’s third-party registered investment manager invests only in securities rated as investment grade or higher by the major rating services, where observable valuation inputs are significant. The fair value of the Company's investments in debt and equity securities is primarily determined using a third-party pricing service provider. The third-party pricing service provider calculates the fair values using both market approach and model valuation methods, as well as pricing information obtained from brokers, dealers and custodians. Management ensures the reasonableness of the third-party service valuations by comparing them with pricing information from the Company's investment manager.

Investment income and net reali

Investment income and net realized and unrealized gains	12 Months Ended
Investment income and net realized and unrealized gains	Dec. 31, 2020
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: 2020 2019 (in $ thousands) Investments in: Debt securities 631,386 605,721 Equity securities 53,001 39,318 684,387 645,039 As of December 31, 2020 a nd 2019, included in the above fair values of investments in equity securities were net unrealized investment gains of $4.4 million and $6.9 million, respectively. The amortized costs and fair values of investments in debt securities as of December 31, are as follows: 2020 2019 Amortized Fair Amortized Fair (in $ thousands) Municipal 45,138 47,603 52,176 53,823 Corporate 285,962 305,450 299,074 309,142 Foreign 261,748 271,711 234,734 236,073 U.S. Treasury Bonds 6,564 6,622 6,664 6,683 599,412 631,386 592,648 605,721 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 $240.4 million and $206.5 million as of December 31, 2020 and 2019, respectively, and United Kingdom treasury and corporate bonds with aggregate fair values of $25.2 million and $24.1 million as of December 31, 2020 and 2019, respectively. Gross unrealized gains and losses on investments in debt securities at December 31, were: 2020 2019 Gains Losses Gains Losses (in $ thousands) Municipal 2,465 — 1,649 2 Corporate 19,594 106 10,091 23 Foreign 10,024 61 2,362 1,023 U.S. Treasury Bonds 82 24 60 41 32,165 191 14,162 1,089 Debt securities at December 31, 2020 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized Fair (in $ thousands) In one year or less 79,668 80,400 After one year through five years 304,610 317,567 After five years through ten years 184,215 198,443 After ten years 30,919 34,976 599,412 631,386 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, 2020, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values (in $ thousands) Municipal — — — — — — Corporate 106 13,518 — — 106 13,518 Foreign 40 2,912 21 254 61 3,166 U.S. Treasury Bonds — — 24 1,022 24 1,022 146 16,430 45 1,276 191 17,706 The number of specific debt securities investment holdings in an unrealized loss position as of December 31, 2020 was 12. Of these securities, three were in unrealized loss positions for more than 12 mont hs. During 2020, the overall investment fair values increased, primarily resulting from the effect of lower interest rates which was partially offset by increased credit spreads. Since the Company does not intend to sell and will more li kely 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, 2019, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values (in $ thousands) Municipal 2 53 — — 2 53 Corporate 23 7,420 — — 23 7,420 Foreign 318 92,108 705 55,875 1,023 147,983 U.S. Treasury Bonds — — 41 2,215 41 2,215 343 99,581 746 58,090 1,089 157,671 Investment income and net realized and unrealized gains. Income from investments and net realized and unrealized gains for the years ended December 31 are detailed below: 2020 2019 2018 (in $ thousands) Investment income: Debt securities 15,026 15,580 17,431 Short-term investments, cash equivalents and other 3,581 4,215 2,306 18,607 19,795 19,737 Net realized and unrealized (losses) gains: Realized gains 2,231 53,465 2,698 Realized losses (1,598) (14,747) (483) Net unrealized investment (losses) gains recognized on equity securities still held (2,311) 4,042 (2,162) (1,678) 42,760 53 In 2020, net realized and unrealized losses included $2.3 million of net unrealized investment losses on equity securities held at year-end and $0.6 million of net realized losses from sales of securities investments, partially offset by $1.2 million of realized gains from settlements of equity investments with no previously readily determinable fair values (cost-basis investments). In 2019, net realized and unrealized gains included a $50.0 million gain related to the fee received from the terminated merger with Fidelity National Financial, Inc. (FNF), $4.0 million of net unrealized investment gains on equity securities held at year-end and $2.5 million of realized gains from sales of securities investments, partially offset by $14.7 million of impairment expenses primarily related to title plants, buildings, intangible assets, equity-method investments and other assets. In 2018, net realized and unrealized gains included $1.3 million of realized gains from settlements of cost-basis investments and $2.2 million of net unrealized investment losses on equity securities held at year-end. Net investment gains and losses recognized for the years ended December 31 related to investments in equity securities are follows: 2020 2019 2018 (in $ thousands) Total net investment (losses) gains recognized on equity securities during the period (3,137) 4,825 (2,538) Less: Net realized (losses) gains on equity securities sold during the period (826) 783 (376) Net unrealized investment (losses) gains recognized on equity securities still held at December 31 (2,311) 4,042 (2,162) Proceeds from sales of investments in securities for the years ended December 31 are as follows: 2020 2019 2018 (in $ thousands) Proceeds from sales of debt securities 36,449 46,834 43,556 Proceeds from sales of equity securities 791 3,771 5,886 Total proceeds from sales of investments in securities 37,240 50,605 49,442

Income taxes

Income taxes	12 Months Ended
Income taxes	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income taxes	Income taxes. Income tax expense consists of the following: 2020 2019 2018 (in $ thousands) Current income tax expense: Federal 47,778 12,329 5,540 State 3,235 846 1,089 Foreign 7,567 4,851 6,622 58,580 18,026 13,251 Deferred income tax expense (benefit): Federal (10,429) 6,631 43 State 388 150 (864) Foreign 294 1,888 1,077 (9,747) 8,669 256 Total income tax expense 48,833 26,695 13,507 The following reconciles income tax expense computed at the federal statutory rate with income tax expense as reported (in $ thousands, except for income tax rates): 2020 2019 2018 Expected income tax expense at 21% (1) 42,785 22,116 12,816 State income tax expense (benefit) - net of Federal impact 2,944 818 (5) Valuation allowance 2,427 1,326 1,741 Nondeductible expenses 2,399 3,249 1,872 Foreign income tax rate differential 1,465 138 297 Net expense (benefit) for the Canadian branch (2) (1,478) 613 128 Research and development credits (1,055) (278) (732) Return-to-provision and true-up adjustments (438) (776) (370) 2017 Act impact from the U.S. corporate tax rate change — — (745) 2017 Act impact from deemed repatriation of deferred foreign income — — (624) Other – net (216) (511) (871) Income tax expense 48,833 26,695 13,507 Effective income tax rate (1) 24.0 % 25.3 % 22.1 % (1) Calculated using income before taxes and after noncontrolling interests. (2) For U.S. income tax purposes, the Company’s Canadian operation is a branch of Guaranty. As a result, the Canadian net deferred tax liability is offset in the U.S. as a deferred tax asset but not in an equal amount given differing tax rates in Canada and the U.S. Deferred tax assets and liabilities resulting from the same tax jurisdiction are netted and presented as either an asset or liability on the consolidated balance sheets. Deferred tax assets and liabilities resulting from different tax jurisdictions are not netted. Deferred tax assets and liabilities as of December 31 are detailed below. 2020 2019 (in $ thousands) Deferred tax assets: Accrued expenses 18,747 18,290 Federal offset to Canadian deferred tax liability 8,299 7,961 Net operating loss (NOL) carryforwards 5,036 7,017 Tax credit carryforwards 4,596 2,230 Deferred payroll taxes 3,297 — Net unrealized losses on investments in securities 2,719 621 Investments 1,529 424 Other intangibles 1,321 — Title loss provisions 1,138 837 Allowance for uncollectible amounts 1,056 983 Foreign currency translation adjustments 959 1,765 Other 1,174 533 Deferred tax assets – gross 49,871 40,661 Valuation allowance (6,471) (4,056) Deferred tax assets – net 43,400 36,605 Deferred tax liabilities: Amortization – goodwill and other intangibles (26,669) (22,379) Title loss provisions (18,724) (29,704) Net unrealized gains on investments in securities (7,684) (4,218) Fixed assets (6,046) (1,997) Deferred compensation on life insurance policies (2,296) (2,202) Investments (1,193) — Other (310) (417) Deferred tax liabilities – gross (62,922) (60,917) Net deferred income tax liability (19,522) (24,312) At December 31, 2020, the Company had $4.6 million of foreign tax credit carryforwards that will begin to expire in 2028. The future utilization of these credit carryforwards is subject to various limitations. The Company's $5.0 million of deferred tax assets relating to NOL carryforwards include losses from various states and will expire in varying amounts from 2021 through 2040, and foreign losses which will expire in varying amounts from 2021 through 2024 or have unlimited carryforward periods. The future utilization of all NOL carryforwards is subject to various limitations. The Company's valuation allowance at December 31, 2020 relates primarily to all foreign tax credit carryforwards and certain state and foreign NOL carryforwards which the Company believes are not more-likely-than-not to be utilized prior to expiration.

Goodwill and other intangibles

Goodwill and other intangibles	12 Months Ended
Goodwill and other intangibles	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangibles	Goodwill and other intangibles. The summary of changes in goodwill is as follows: Title Ancillary Total (in $ thousands) Balances at January 1 and December 31, 2019 243,161 5,729 248,890 Acquisitions 118,272 64,315 182,587 Balances at December 31, 2020 361,433 70,044 431,477 For its annual goodwill impairment test (see Note 1-L ), the Company utilized the qualitative assessment in 2020 and the quantitative impairment analysis approach in 2019, and determined that goodwill related to all of its reporting units was not impaired. During 2020, the Company recorded total goodwill and other intangible assets of $118.3 million and $0.7 million, respectively, under the title segment in connection with its acquisitions of a number of title offices in the states of Alaska, Arizona, Colorado, Nevada, Ohio and Texa s. Also during 2020, the Company recorded total goodwill and other intangible assets of $64.3 million and $37.1 million, respectively, under the ancillary services and corporate segment in relation to its acquisitions of national appraisal management compan ies. The other intangible assets recognized from these acquisitions were primarily related to customer relationships and internally-developed technology, which have estimated useful lives of 10 and 5 years, respectively. The gross carrying amount, and accumulated amortization and impairment of other intangible assets was $72.9 million and $35.5 million, respectively, at December 31, 2020, and $35.0 million and $30.4 million, respectively, at December 31, 2019. The amortization expense recorded for the Company's other intangible assets was $5.1 million and $4.2 million in 2020 and 2019, respectively. The annual amortization expense expected to be recognized in the next five years relating to other intangible assets is approximately $8.1 million in 2021, $6.5 million in 2022, $5.7 million in 2023, $4.4 million in 2024 and $3.9 million in 2025.

Equity investees

Equity investees	12 Months Ended
Equity investees	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Equity investees	Equity investees. Summarized aggregate financial information for equity investees (in which the Company typically owns 20% through 50% of the equity) is as follows: 2020 2019 2018 (in $ thousands) For the year: Revenues 26,396 19,660 22,286 Net income 7,101 6,231 4,729 At December 31: Total assets 36,222 36,865 33,268 Notes payable 27,133 27,841 24,833 Stockholders’ equity 4,868 6,341 6,292 Net premium revenues from policies issued by equity investees were approximately $2.3 million, $0.7 million and $2.1 million in 2020, 2019 and 2018, respectively. Income related to equity investees was $3.5 million, $3.0 million and $1.9 million in 2020, 2019 and 2018, respectively. These amounts are included in title insurance – direct operations in the consolidated statements of income and comprehensive income.

Notes payable

Notes payable	12 Months Ended
Notes payable	Dec. 31, 2020
Debt Disclosure [Abstract]
Notes payable	Notes payable. A summary of notes payable is as follows: 2020 2019 (in $ thousands) Line of credit facility (1) 98,875 98,875 Other notes payable 2,898 11,757 101,773 110,632 (1) Average interest rates were 1.73% and 3.55% during the years ended December 31, 2020 and 2019, respectively. Based upon the contractual maturities, principal payments on the above notes are due in the amounts of $1.9 million in 2021, $0.9 million in 2022, $0.1 million in 2023 and $98.9 million in 2025. Included within other notes payable are $1.9 million and $3.7 million of capital lease obligations at December 31, 2020 and 2019, respectively. Prior to May 2020, the Company had an available $150.0 million unsecured line of credit commitment (Existing Credit Agreement) for general corporate and acquisitions purposes and was previously scheduled to expire in November 2023. Under this agreement, interests are calculated, at the Company's election, based on either (a) an Alternate Base Rate plus the Applicable Rate (ABR Borrowing) or (b) LIBOR plus the Applicable Rate (Eurodollar Borrowing). The Applicable Rate, based on the Company's Leverage Ratio, ranges from 0.375% to 0.50% per annum for ABR Borrowings and 1.375% to 1.75% per annum for Eurodollar Borrowings based on the Company's consolidated Leverage Ratio. Also, a commitment fee accrues ranging from 0.20% to 0.35% per annum on the average daily unused portion of the line of credit commitment. The Existing Credit Agreement contains customary affirmative and negative covenants, which include consolidated financial covenants (based on terms defined within the agreement) providing that (a) the ratio of EBITDA to fixed charges not be below 1.15 to 1.00 on a trailing four-quarter basis (Fixed Charge Ratio); (b) the ratio of total Indebtedness to EBITDA for the prior four consecutive quarters must not be greater than 3.50 to 1.00 (Leverage Ratio); (c) Capital Expenditures in the aggregate for the Company in any calendar year may not exceed $30.0 million, with certain allowances for carryover of unused amounts; and (d) Restricted Payments should not exceed $40.0 million annually. In May 2020, the Company entered into an amended agreement with the lenders (First Amendment) which increased the available unsecured line of credit commitment to $200.0 million and extended the maturity of the line of credit to May 2025. The First Amendment, which includes an additional $50.0 million that the Company can request, revised the definition of EBITDA and added customary LIBOR benchmark replacement language to the Existing Credit Agreement. As of December 31, 2020, line of credit borrowings of $98.9 million were outstanding and the remaining balance of the line of credit available for use was $98.6 million, net of an unused $2.5 million letter of credit. The Company was in compliance with all covenants as of December 31, 2020 and 2019, under the First Amendment and Existing Credit Agreement. The Company 's qualified intermediary in tax-deferred property exchanges pursuant to Section 1031 of the Internal Revenue Code (Section 1031) enters into short-term loan agreements with parties to an exchange in the ordinary course of its business. The outstanding balances pursuant to these loans, as included within other notes payable in the above table, were $0.7 million and $8.0 million as of December 31, 2020 and 2019, respectively, and are secured by cash that is included in cash and cash equivalents on the Company's consolidated balance sheet. Borrowings and repayments on these short-term loans are reflected as financing activities in the consolidated statements of cash flows.

Estimated title losses

Estimated title losses	12 Months Ended
Estimated title losses	Dec. 31, 2020
Loss Contingency [Abstract]
Estimated title losses	Estimated title losses. A summary of estimated title losses is as follows: 2020 2019 2018 (in $ thousands, except for loss ratios) Balances at January 1 459,053 461,560 480,990 Provisions: Current year 98,823 79,141 70,480 Previous policy years 16,401 5,282 1,034 Total provisions 115,224 84,423 71,514 Payments, net of recoveries: Current year (15,455) (19,052) (17,460) Previous policy years (66,540) (71,956) (65,246) Total payments, net of recoveries (81,995) (91,008) (82,706) Effects of changes in foreign currency exchange rates 3,993 4,078 (8,238) Balances at December 31 496,275 459,053 461,560 Loss ratios as a percentage of title operating revenues: Current year provisions 4.5 % 4.3 % 3.8 % Total provisions 5.3 % 4.6 % 3.9 % Total title loss provisions during 2020, compared to 2019, increased primarily due to increased title revenues, higher domestic loss provisioning rates due to the current economic environment and unfavorable loss development related to certain coverages in the Canadian operations. Total title loss provisions during 2019, compared to 2018, increased primarily due to unfavorable loss experience in 2019, resulting in a higher current year policy provisioning rate and increased provisions in portions of the Company's non-Canadian international operations, and a prior policy year reserve reduction during 2018. The prior policy years' provision in 2020 was primarily due to large claims reported and unfavorable loss development for prior policy years; while the prior policy years' provision in 2019 was primarily driven by large claims reported on prior policy years. Total provisions for large title claims were $12.0 million, $6.0 million and $4.4 million in 2020, 2019 and 2018, respectiv ely.

Share-based payments

Share-based payments	12 Months Ended
Share-based payments	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Share-based payments	Share-based payments. Prior to 2020, the Company granted time-based and performance-based restricted stock units to executives and senior management employees. Each restricted stock unit represents a contractual right to receive a share of the Company's common stock. The time-based units vest on each of the first three Awards are made pursuant to the Company’s employee incentive compensation plans and the compensation expense associated with the awards is recognized over the corresponding vesting period as part of employee costs in the consolidated statements 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 values of restricted share and unit awards to employees during 2020, 2019 and 2018 were $4.1 million (104,200 shares with an average grant price of $39.78), $5.1 million (122,400 shares with an average grant price of $42.02) and $4.8 million (110,600 shares with an average grant price of $43.39), respectively. The aggregate grant-date fair value of stock option awards during 2020 was $3.4 million, comprised of 647,800 options with an average grant price of $5.32. Additionally, in 2020, 2019 and 2018, the Company granted its board of directors, as a component of their annual director retainer compensation, approximately 18,700, 13,700 and 14,300 shares, respectively, of restricted common stock that had aggregate fair values of $0.6 million each year. The associated expense for these grants is recognized in other operating expenses in the consolidated statements of income and comprehensive income. A summary of the restricted common stock award activity during the year ended December 31, 2020 is presented below: Shares Weighted-Average Grant-Date Fair Value per Share ($) Outstanding at January 1, 2020 53,389 40.60 Granted 18,673 32.83 Vested (52,738) 40.55 Forfeited (651) 44.13 Outstanding at December 31, 2020 18,673 32.83 A summary of the restricted common stock unit activity during the year ended December 31, 2020 is presented below: Units Weighted-Average Grant-Date Fair Value per Share ($) Outstanding at January 1, 2020 196,017 42.21 Granted 104,202 39.78 Converted (32,242) 41.19 Forfeited (37,049) 42.31 Outstanding at December 31, 2020 230,928 41.25 Nonvested at December 31, 2020 177,855 40.61 A summary of the stock option activity during the year ended December 31, 2020 is presented below: Units Weighted-Average Exercise Price ($) Outstanding at January 1, 2020 — — Granted 647,832 39.76 Forfeited (14,552) 39.76 Outstanding and nonvested at December 31, 2020 633,280 39.76 As of December 31, 2020, the aggregate intrinsic value and weighted average remaining contractual term related to outstanding options was $5.4 million and 9.1 years, respectively. The fair value of grants that vested in 2020 and 2019 aggregated to $5.6 million and $2.1 million, resp ectively. For the years ended December 31, 2020, 2019 and 2018, compensation costs recognized in the consolidated statements of income and comprehensive incom e, presented primarily within employee costs, were approximately $5.8 million, $2.1 million and $4.8 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 2020, 2019 and 2018 were $0.6 million, $0.5 million and $1.1 million, respectively. As of December 31, 2020, compensation costs not yet recognized related to all nonvested awards was $5.3 million , which is expected to be recognized over a weighted average period of two years.

Earnings per share

Earnings per share	12 Months Ended
Earnings per share	Dec. 31, 2020
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. Outstanding shares of Common Stock granted to employees that are not yet vested (restricted shares) are excluded from the calculation of the weighted-average number of shares outstanding for calculating basic EPS. To calculate diluted EPS, the number of shares is adjusted to include the number of additional shares that would have been outstanding if restricted shares and units were vested and stock options were exercised. In periods of loss, dilutive shares are excluded from the calculation of the diluted EPS and diluted EPS is computed in the same manner as basic EPS. The calculation of the basic and diluted EPS is as follows: For the Years Ended December 31, 2020 2019 2018 Numerator (in $ thousands): Net income attributable to Stewart 154,905 78,615 47,523 Denominator (in thousands): Basic average shares outstanding 24,793 23,611 23,543 Average number of dilutive shares relating to restricted shares and units 120 142 142 Diluted average shares outstanding 24,913 23,753 23,685 Basic earnings per share attributable to Stewart ($) 6.25 3.33 2.02 Diluted earnings per share attributable to Stewart ($) 6.22 3.31 2.01

Reinsurance

Reinsurance	12 Months Ended
Reinsurance	Dec. 31, 2020
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, 2020, 2019, and 2018. The total amount of premiums for assumed and ceded risks was less than 1.0% 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, 2020 and 2019.

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2020
Leases [Abstract]
Leases	Leases. Total operating lease expense was $41.1 million, $44.2 million and $40.8 million in 2020, 2019 and 2018, respectively. Included in the 2020 and 2019 operating lease expense was $3.4 million and $4.2 million, respectively, of lease expense related to short-term leases and equipment. Total finance lease expense was $1.4 million, $2.4 million and $3.8 million in 2020, 2019 and 2018, respectively. Lease-related assets and liabilities as of December 31, 2020 and 2019 are as follows: 2020 2019 (in $ thousands) Assets: Operating lease assets, net of accumulated amortization 106,479 99,028 Finance lease assets, net of accumulated depreciation 3,065 4,312 Total lease assets 109,544 103,340 Liabilities: Operating lease liabilities 119,089 113,843 Finance lease liabilities 1,911 3,716 Total lease liabilities 121,000 117,559 Other information related to operating and finance leases during the years ended December 31, 2020 and 2019 is as follows: 2 2 Operating Finance Operating Finance Cash paid for amounts included in the measurement of lease liabilities (in $ thousands) 40,452 1,913 43,207 3,076 Lease assets obtained in exchange for lease obligations (in $ thousands) 40,557 — 51,188 — Weighted average remaining lease term (years): 4.5 2.1 4.7 2.5 Weighted average discount rate 3.7 % 4.0 % 4.4 % 4.7 % Future minimum lease payments under operating and finance leases as of December 31, 2020 are as follows: Operating Finance (in $ thousands) 2021 37,490 957 2022 29,296 957 2023 23,589 80 2024 17,543 — 2025 9,124 — Thereafter 11,922 — Total future minimum lease payments 128,964 1,994 Less: imputed interest (9,875) (83) Net future minimum lease payments 119,089 1,911
Leases	Leases. Total operating lease expense was $41.1 million, $44.2 million and $40.8 million in 2020, 2019 and 2018, respectively. Included in the 2020 and 2019 operating lease expense was $3.4 million and $4.2 million, respectively, of lease expense related to short-term leases and equipment. Total finance lease expense was $1.4 million, $2.4 million and $3.8 million in 2020, 2019 and 2018, respectively. Lease-related assets and liabilities as of December 31, 2020 and 2019 are as follows: 2020 2019 (in $ thousands) Assets: Operating lease assets, net of accumulated amortization 106,479 99,028 Finance lease assets, net of accumulated depreciation 3,065 4,312 Total lease assets 109,544 103,340 Liabilities: Operating lease liabilities 119,089 113,843 Finance lease liabilities 1,911 3,716 Total lease liabilities 121,000 117,559 Other information related to operating and finance leases during the years ended December 31, 2020 and 2019 is as follows: 2 2 Operating Finance Operating Finance Cash paid for amounts included in the measurement of lease liabilities (in $ thousands) 40,452 1,913 43,207 3,076 Lease assets obtained in exchange for lease obligations (in $ thousands) 40,557 — 51,188 — Weighted average remaining lease term (years): 4.5 2.1 4.7 2.5 Weighted average discount rate 3.7 % 4.0 % 4.4 % 4.7 % Future minimum lease payments under operating and finance leases as of December 31, 2020 are as follows: Operating Finance (in $ thousands) 2021 37,490 957 2022 29,296 957 2023 23,589 80 2024 17,543 — 2025 9,124 — Thereafter 11,922 — Total future minimum lease payments 128,964 1,994 Less: imputed interest (9,875) (83) Net future minimum lease payments 119,089 1,911

Contingent liabilities and comm

Contingent liabilities and commitments	12 Months Ended
Contingent liabilities and commitments	Dec. 31, 2020
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 $1.4 billion at December 31, 2020. 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 $1.5 billion at December 31, 2020. 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, 2020, the maximum potential future payments on the guarantees are not more than the related notes payable recorded in the consolidated balance sheets (refer to Note 10 ). 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 15 ) plus lease operating expenses. As of December 31, 2020, the Company also had unused letters of credit aggregating $5.2 million related to workers’ compensation coverage and other insurance. The Company does not expect to make any payments on these guarantees.

Regulatory and legal developmen

Regulatory and legal developments	12 Months Ended
Regulatory and legal developments	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Regulatory and legal developments	Regulatory and legal developments. The Company is subject to claims and lawsuits arising in the ordinary course of its business, most of which involve disputed policy claims. In some of these lawsuits, the plaintiffs seek exemplary or treble damages in excess of policy limits. The Company does not expect that any of these ordinary course proceedings will have a material adverse effect on its consolidated financial condition or results of operations. The Company believes that it has adequate reserves for the various litigation matters and contingencies referred to in this paragraph and that the likely resolution of these matters will not materially affect its consolidated financial condition or results of operations. The Company is subject to non-ordinary course of business claims or lawsuits from time to time. To the extent the Company is currently the subject of these types of lawsuits, the Company has determined either that a loss is not reasonably possible or that the estimated loss or range of loss, if any, will not have a material adverse effect on the Company’s financial condition, results of operations or cash flows. Additionally, the Company occasionally receives various inquiries from governmental regulators concerning practices in the insurance industry. Many of these practices do not concern title insurance. To the extent the Company is in receipt of such inquiries, it believes that, where appropriate, it has adequately reserved for these matters and does not anticipate that the outcome of these inquiries will materially affect its consolidated financial condition or results of operations.

Revenues

Revenues	12 Months Ended
Revenues	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues. The Company's operating revenues, summarized by type, are as follows: 2020 2019 2018 (in $ thousands) Title insurance premiums: Direct 716,779 615,646 597,510 Agency 1,151,030 970,540 1,003,959 Escrow fees 190,930 137,539 124,660 Appraisal management, search, abstract and valuation services 134,304 82,050 92,708 Other revenues 78,460 71,678 69,045 2,271,503 1,877,453 1,887,882

Segment information

Segment information	12 Months Ended
Segment information	Dec. 31, 2020
Segment Reporting [Abstract]
Segment information	Segment information. The Company reports two operating segments: title and ancillary services and corporate . The title segment provides services needed to transfer title to property in a real estate transaction and includes services such as searching, examining, closing and insuring the condition of the title to the property. In addition, the title segment includes home and personal insurance services and Internal Revenue Code Section 1031 tax-deferred exchanges. The ancillary services and corporate segment includes appraisal management services, search and valuation services, and online notarization and closing solutions, which are the principal offerings of ancillary services, expenses of the parent holding company, and certain other enterprise-wide overhead costs (net of centralized administrative services costs allocated to respective operating businesses). Selected statement of income information related to these segments for the years ended December 31 is as follows: 2020 2019 2018 (in $ thousands) Title segment: Revenues 2,205,301 1,857,048 1,855,706 Depreciation and amortization 15,230 19,971 21,449 Income before taxes and noncontrolling interest 246,878 108,459 108,314 Ancillary services and corporate segment: Revenues 83,131 82,960 51,966 Depreciation and amortization 3,986 2,555 3,483 (Loss) income before taxes and noncontrolling interest (28,373) 8,508 (35,785) Consolidated Stewart: Revenues 2,288,432 1,940,008 1,907,672 Depreciation and amortization 19,216 22,526 24,932 Income before taxes and noncontrolling interest 218,505 116,967 72,529 2019 revenues and income before taxes and noncontrolling interest for the ancillary services and corporate segment included a $50.0 million gain related to the fee received from the FNF merger termination (refer also to Note 6 ). The Company does not provide asset information by reportable operating 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: 2020 2019 2018 (in $ thousands) United States 2,154,672 1,816,531 1,787,843 International 133,760 123,477 119,829 2,288,432 1,940,008 1,907,672

Other comprehensive income (los

Other comprehensive income (loss)	12 Months Ended
Other comprehensive income (loss)	Dec. 31, 2020
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, 2020 For the Year Ended December 31, 2019 For the Year Ended Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Foreign currency translation adjustments 5,777 988 4,789 8,337 1,859 6,478 (13,336) (2,848) (10,488) Net unrealized gains and losses on investments: Change in net unrealized gains and losses on investments 19,548 4,105 15,443 19,220 4,036 15,184 (11,294) (2,372) (8,922) Reclassification adjustment for realized gains and losses on investments (647) (136) (511) 519 109 410 (1,167) (245) (922) 18,901 3,969 14,932 19,739 4,145 15,594 (12,461) (2,617) (9,844) Other comprehensive income (loss) 24,678 4,957 19,721 28,076 6,004 22,072 (25,797) (5,465) (20,332)

Common Stock

Common Stock	12 Months Ended
Common Stock	Dec. 31, 2020
Equity [Abstract]
Common Stock	Common Stock. During 2020, the Company issued an aggregate of 3,026,340 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 $109.0 million.

Schedule I - Financial Informat

Schedule I - Financial Information of the Registrant (Parent Company)	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 2018 (in $ thousands) Revenues Investment income 30,000 — 25,000 Merger termination fee — 50,000 — Other income 1,182 753 665 31,182 50,753 25,665 Expenses Interest 2,511 4,106 3,511 Other operating expenses 9,262 12,787 15,174 11,773 16,893 18,685 Income before taxes and income from subsidiaries 19,409 33,860 6,980 Income tax expense (15) (15) (126) Income from subsidiaries 135,511 44,770 40,669 Net income 154,905 78,615 47,523 Retained earnings at beginning of year 564,392 514,248 491,698 Cash dividends on Common Stock (30,478) (28,471) (28,565) Cumulative effect adjustments on adoption of new accounting pronouncements — — 3,592 Retained earnings at end of year 688,819 564,392 514,248 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, 2020 2019 (in $ thousands) Assets Cash and cash equivalents 3,604 36,849 Receivables: Notes - due from subsidiaries 45,193 5,193 Receivables from affiliates 2,258 260 47,451 5,453 Property and equipment, at cost: Furniture and equipment 75 88 Accumulated depreciation (74) (83) 1 5 Investments in subsidiaries, on an equity-method basis 1,055,154 802,994 Operating lease assets 7,439 8,931 Goodwill 8,068 8,470 Other assets 16,339 15,810 1,138,056 878,512 Liabilities Accounts payable and other liabilities 24,040 21,417 Operating lease liabilities 10,029 10,914 Notes payable 98,875 98,875 132,944 131,206 Contingent liabilities and commitments — — Stockholders’ equity Common Stock – $1 par, authorized 51,500,000; issued 27,080,403 and 24,061,568; outstanding 26,728,242 and 23,709,407, respectively 27,080 24,062 Additional paid-in capital 274,857 164,217 Retained earnings 688,819 564,392 Accumulated other comprehensive income (loss) (AOCI): Foreign currency translation adjustments (8,238) (13,027) Net unrealized investment gains 25,260 10,328 Treasury stock – 352,161 common shares, at cost (2,666) (2,666) Total stockholders’ equity 1,005,112 747,306 1,138,056 878,512 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, 2020 2019 2018 (in $ thousands) Reconciliation of net income to cash (used) provided by operating activities: Net income 154,905 78,615 47,523 Add (deduct): Depreciation 4 8 4 (Increase) decrease in receivables – net (1,998) (253) 922 (Increase) decrease in other assets – net (529) 1,659 853 Increase (decrease) in payables and accrued liabilities – net 2,978 2,698 (4,476) Income from and other adjustments for subsidiaries (170,816) (43,240) (45,793) Cash (used) provided by operating activities (15,456) 39,487 (967) Investing activities: Dividends from subsidiary 30,000 — 25,000 Collections on notes receivables 40,000 1,416 24,900 Increases in notes receivables (80,000) — (5,193) Investments in and contributions to subsidiaries (85,470) — — Cash (used) provided by investing activities (95,470) 1,416 44,707 Financing activities: Issuance of new Common Stock 108,961 — — Dividends paid (30,226) (28,345) (28,263) Repurchases of Common Stock (1,054) (532) (1,175) Purchase of remaining interest of consolidated subsidiary — — (1,101) Cash provided (used) by financing activities 77,681 (28,877) (30,539) Increase in cash and cash equivalents (33,245) 12,026 13,201 Cash and cash equivalents at beginning of year 36,849 24,823 11,622 Cash and cash equivalents at end of year 3,604 36,849 24,823 Supplemental information: Income taxes paid, net 180 — — Interest paid 2,490 4,009 3,849 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. Merger agreement . In 2018, the Company entered into an agreement and plan of merger (Merger Agreement) with Fidelity National Financial, Inc. (FNF), A Holdco Corp. and S Holdco LLC, pursuant to which, subject to the satisfaction or waiver of certain conditions, the Company was to be acquired by FNF . In 2019, the Company and FNF mutually terminated the Merger Agreement and, as stipulated in the Merger Agreement, FNF paid the Company a merger termination fee of $50.0 million, which was presented as such in the 2019 statement of income and retained earnings. Investment income. During 2020 and 2018, Stewart Title Guaranty Company, a wholly-owned subsidiary, paid to the Parent Company dividends of $30.0 million and $25.0 million, respectively. Other operating expenses. Other operating expenses included $6.8 million and $12.7 million of expenses related to the Merger Agreement and strategic alternatives review in 2019 and 2018, respectively. Also included in the 2019 other operating expenses were $2.2 million of executive insurance policy settlement expenses.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
Schedule II - Valuation and Qualifying Accounts	Dec. 31, 2020
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, 2020 Col. A Col. B Col. C Col. D Col. E Description Balance Charged to (Describe) Balance (in $ thousands) Year ended December 31, 2020: Estimated title losses 459,053 115,224 78,002 (A) 496,275 Valuation allowance for deferred tax assets 4,056 2,532 117 6,471 Allowance for uncollectible amounts 4,469 649 311 (B) 4,807 Year ended December 31, 2019: Estimated title losses 461,560 84,423 86,930 (A) 459,053 Valuation allowance for deferred tax assets 3,824 236 4 4,056 Allowance for uncollectible amounts 4,614 1,672 1,817 (B) 4,469 Year ended December 31, 2018: Estimated title losses 480,990 71,514 90,944 (A) 461,560 Valuation allowance for deferred tax assets 2,231 1,791 198 3,824 Allowance for uncollectible amounts 5,156 519 1,061 (B) 4,614 (A) Represents primarily payments of policy and escrow losses and loss adjustment expenses. (B) Represents uncollectible accounts written off. See accompanying Report of Independent Registered Public Accounting Firm.

General (Policies)

General (Policies)	12 Months Ended
General (Policies)	Dec. 31, 2020
Accounting Policies [Abstract]
Management's responsibility	Management’s responsibility. The accompanying consolidated financial statements were prepared by management, who is responsible for their integrity and objectivity. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP), including management’s best judgments and estimates. Actual results could differ from those estimates.
Consolidation	Consolidation. The consolidated financial statements include all subsidiaries in which the Company owns more than 50% voting rights in electing directors. All significant intercompany amounts and transactions have been eliminated and provisions have been made for noncontrolling interests. Unconsolidated investees, in which the Company typically owns 20% through 50% of the entity, are accounted for using the equity method.
Statutory accounting	Statutory accounting. Stewart Title Guaranty Company (Guaranty) and other title insurance underwriters owned by the Company prepare financial statements in accordance with statutory accounting practices prescribed or permitted by regulatory authorities. In conforming the statutory financial statements to GAAP, statutory premium reserves and reserves for known title losses are eliminated and, in substitution, amounts are established for estimated title losses (Note 1-E), for which the net effect, after providing for income taxes, is included in the consolidated statements of income and comprehensive income. Additionally, investments in debt securities, which are carried at amortized cost for statutory accounting, are reported at fair value and the net unrealized gains and losses, net of applicable deferred taxes, on the investments are included as a component of accumulated other comprehensive income (loss) (AOCI) within stockholders’ equity.
Revenues	Revenues. Direct premiums - Premiums from title insurance policies directly issued or issued by affiliate offices are recognized at the time of the closing of the related real estate transaction. Agency premiums - Premiums from title insurance policies written by independent agencies are recognized when the policies are reported to the Company. In addition, where reasonable estimates can be made, the Company accrues for policies issued but not reported until after period end. The Company believes that reasonable estimates can be made when recent and consistent policy issuance information is available. Estimates are based on historical reporting patterns and other information obtained about independent agencies, as well as current trends in direct operations and in the title industry. In this accrual, future transactions are not being estimated. The Company is estimating revenues on policies that have already been issued by independent agencies but not yet reported to or received by the Company. Escrow fees - An escrow is a transaction pursuant to an agreement of a buyer, seller, borrower, or lender wherein an impartial third party, such as the Company, acts in a fiduciary capacity on behalf of the parties in accordance with the terms of such agreement in order to accomplish the directions stated therein. Services provided include, among others, acting as escrow or other fiduciary agent, obtaining releases, and conducting the actual closing or settlement. Escrow fees are recognized upon closing of the escrow, which is generally at the same time of the closing of the related real estate transaction.
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 begins with the prior period’s reserve balance for claim losses, adds the current period provision to that balance and subtracts actual paid claims, resulting in an amount that management compares 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. 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 (+5.0%/-4.0%) of its actuarially-based reserve calculation and the actuary’s point estimate, the Company’s management assesses th e major factors contributing to the different reserve estimates in order to determine the overall reasonableness of its recorded reserve, as well as the position of the recorded reserves relative to the point estimate and the estimated range of reserves. The major factors considered can change from period to period and include items such as current trends in the real estate industry (which management can assess although there is a time lag in the development of this data for use by the actuary), the size and types of claims reported and changes in the Company’s claims management process. If the recorded amount is not within a reasonable range of the Company’s third-party actuary’s point estimate, the Company will adjust the recorded reserves in the current period and reassess the provision rate on a prospective basis. Once the Company’s reserve for title losses is recorded, it is reduced in future periods as a result of claims payments and may be increased or reduced by revisions to the Company’s estimate of the overall level of required reserves. Large claims (those exceeding $1.0 million on a single claim), including large title losses due to independent agency defalcations, are analyzed and reserved for separately due to the higher dollar amount of loss, lower volume of claims reported and sporadic reporting of such claims. Due to the inherent uncertainty in predicting future title policy losses, significant judgment is required by both the Company’s management and its third-party actuaries in estimating reserves. As a consequence, the Company’s ultimate liability may be materially greater or less than its current reserves and/or its third-party actuary’s calculated estimate.
Cash equivalents	Cash equivalents. Cash equivalents are highly liquid investments with insignificant interest rate risks and maturities of three months or less at the time of acquisition.
Short-term investments	Short-term investments. Short-term investments comprise time deposits with banks, federal government obligations and other investments maturing in less than one year.
Investments in debt and equity securities	Investments in debt and equity securities. Investments in debt and equity securities are carried at fair value. Investments in debt securities are classified as available-for-sale and the net unrealized gains and losses on such investments, net of applicable deferred taxes, are included as a component of AOCI within stockholders' equity. Realized gains and losses on sales of investments are determined using the specific identification method. At the time unrealized gains and losses become realized, they are reclassified from AOCI using the specific identification method. Prior to 2020, other-than-temporary declines in fair values of investments in debt securities were charged to income. Beginning on January 1, 2020, credit losses are recognized through an allowance account, which is also charged through income but may be reversed in future periods if no longer required (refer to Note 1-Q). 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 beginning on January 1, 2018, as a result of the Company's adoption of Accounting Standards Update No. (ASU) 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities
Property and equipment	Property and equipment. Depreciation is principally computed using the straight-line method using the following estimated useful lives: buildings – 30 to 40 years and furniture and equipment – 3 to 5 years. Maintenance and repairs are expensed as incurred while improvements are capitalized. Gains and losses are recognized at disposal.
Title plants	Title plants. Title plants include compilations of a county’s official land records, prior title examination files, copies of prior title policies, maps and related materials that are geographically indexed to a specific property. The costs of acquiring existing title plants and creating new ones, prior to the time such plants are placed in operation, are capitalized. Title plants are not amortized since there is no indication of any loss of value over time but are subject to review for impairment. The costs of maintaining and operating title plants are expensed as incurred. Gains and losses on sales of copies of title plants or interests in title plants are recognized at the time of sale.
Impairment of long-lived assets	Impairment of long-lived assets. The Company reviews the carrying values of title plants and other long-lived assets if certain events occur that may indicate impairment. An impairment of these long-lived assets is indicated when 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.
Goodwill	Goodwill. Goodwill is not amortized, but is reviewed annually during the third quarter using June 30 balances, or 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 ancillary services. 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 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 company and 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 anticipated mortgage originations, which are obtained from projections by industry experts, for the title reporting units and expected contractual revenues for the ancillary services 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. Goodwill is assigned to the reporting units at the time the goodwill is initially recorded. Once assigned to a reporting unit, the goodwill is pooled and no longer attributable to a specific acquisition. All activities within a reporting unit are available to support the carrying value of the goodwill. When a business component within a reporting unit is disposed, goodwill is allocated to the component based on the ratio of the component's fair value over the total fair value of the reporting unit.
Other intangibles	Other intangibles. Other intangible assets are comprised principally of customer relationships, acquired technology, underwriting agreements and non-compete agreements. Intangible assets are amortized over their estimated lives, which are primarily 3 to 10 years. 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. The Company performs an analysis to determine whether the carrying amount of each intangible asset is recoverable. The carrying amount is not recoverable when it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. For any intangible asset that is not recoverable, the Company calculates the excess of the carrying amount of the intangible asset over its fair value, estimated using the income approach (DCF technique). The resulting difference of the carrying amount over the fair value is treated as the impairment of the asset and is charged to current operations.
Fair values	Fair values. The fair values of financial instruments, including cash and cash equivalents, short-term investments, notes receivable, notes payable and accounts payable, are determined by the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal, or most advantageous, market for the asset or liability in an orderly transaction between market participants at the measurement date. The net fair values of these financial instruments approximate their carrying values. Investments in debt and equity securities and certain financial instruments are carried at their fair values.
Leases	Leases. The following accounting policy is in accordance with the Company's adoption of the new lease accounting standard effective January 1, 2019. The Company primarily leases office space, storage units, data centers and equipment, and determines if an arrangement is a lease at inception. Operating leases are included in operating lease assets and operating lease liabilities on the consolidated balance sheets. Operating lease assets represent the right to use the underlying leased assets over the corresponding lease terms. Finance leases are included in furniture and equipment and notes payable 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 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. Effective January 1, 2018, the Company adopted ASU 2018-02, Income Statement - Reporting Comprehensive Income, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which provided a one-time option to reclassify the stranded tax effects of the Tax Cuts and Jobs Act (the 2017 Act) from AOCI directly to retained earnings. The 2017 Act revised the U.S. corporate income tax regime by, among other things, lowering the corporate tax rate from 35% to 21% effective on January 1, 2018 and imposing a one-time transition tax on deemed repatriated earnings of foreign subsidiaries. The stranded tax effects resulted from the remeasurement of deferred tax assets and liabilities which were originally recorded in comprehensive income but whose remeasurement is reflected in the income statement. The Company reclassified $1.0 million of net tax expense from AOCI to retained earnings in the 2018 consolidated statement of equity as a result of the adoption.
Recently adopted accounting pronouncements	Recently adopted accounting pronouncements. In June 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

Investments in debt and equit_2

Investments in debt and equity securities (Tables)	12 Months Ended
Investments in debt and equity securities (Tables)	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Investments in debt and equity securities	The total fair values of the Company's investments in debt and equity securities as of December 31 are detailed below: 2020 2019 (in $ thousands) Investments in: Debt securities 631,386 605,721 Equity securities 53,001 39,318 684,387 645,039 Net investment gains and losses recognized for the years ended December 31 related to investments in equity securities are follows: 2020 2019 2018 (in $ thousands) Total net investment (losses) gains recognized on equity securities during the period (3,137) 4,825 (2,538) Less: Net realized (losses) gains on equity securities sold during the period (826) 783 (376) Net unrealized investment (losses) gains recognized on equity securities still held at December 31 (2,311) 4,042 (2,162)
Amortized costs and fair values	The amortized costs and fair values of investments in debt securities as of December 31, are as follows: 2020 2019 Amortized Fair Amortized Fair (in $ thousands) Municipal 45,138 47,603 52,176 53,823 Corporate 285,962 305,450 299,074 309,142 Foreign 261,748 271,711 234,734 236,073 U.S. Treasury Bonds 6,564 6,622 6,664 6,683 599,412 631,386 592,648 605,721 Proceeds from sales of investments in securities for the years ended December 31 are as follows: 2020 2019 2018 (in $ thousands) Proceeds from sales of debt securities 36,449 46,834 43,556 Proceeds from sales of equity securities 791 3,771 5,886 Total proceeds from sales of investments in securities 37,240 50,605 49,442
Gross unrealized gains and losses	Gross unrealized gains and losses on investments in debt securities at December 31, were: 2020 2019 Gains Losses Gains Losses (in $ thousands) Municipal 2,465 — 1,649 2 Corporate 19,594 106 10,091 23 Foreign 10,024 61 2,362 1,023 U.S. Treasury Bonds 82 24 60 41 32,165 191 14,162 1,089
Debt securities according to contractual terms	Debt securities at December 31, 2020 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized Fair (in $ thousands) In one year or less 79,668 80,400 After one year through five years 304,610 317,567 After five years through ten years 184,215 198,443 After ten years 30,919 34,976 599,412 631,386
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, 2020, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values (in $ thousands) Municipal — — — — — — Corporate 106 13,518 — — 106 13,518 Foreign 40 2,912 21 254 61 3,166 U.S. Treasury Bonds — — 24 1,022 24 1,022 146 16,430 45 1,276 191 17,706 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, 2019, were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values (in $ thousands) Municipal 2 53 — — 2 53 Corporate 23 7,420 — — 23 7,420 Foreign 318 92,108 705 55,875 1,023 147,983 U.S. Treasury Bonds — — 41 2,215 41 2,215 343 99,581 746 58,090 1,089 157,671

Fair value measurements (Tables

Fair value measurements (Tables)	12 Months Ended
Fair value measurements (Tables)	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Financial instruments measured at fair value on recurring basis	At December 31, 2020, financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Level 3 Fair value (in $ thousands) Investments in securities: Debt securities: Municipal — 47,603 — 47,603 Corporate — 305,450 — 305,450 Foreign — 271,711 — 271,711 U.S. Treasury Bonds — 6,622 — 6,622 Equity securities: 53,001 — — 53,001 53,001 631,386 — 684,387 At December 31, 2019, financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Level 3 Fair value (in $ thousands) Investments in securities: Debt securities: Municipal — 53,823 — 53,823 Corporate — 309,142 — 309,142 Foreign — 236,073 — 236,073 U.S. Treasury Bonds — 6,683 — 6,683 Equity securities: 39,318 — — 39,318 39,318 605,721 — 645,039

Investment income and net rea_2

Investment income and net realized and unrealized gains (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Income from investments and net realized and unrealized gains	Income from investments and net realized and unrealized gains for the years ended December 31 are detailed below: 2020 2019 2018 (in $ thousands) Investment income: Debt securities 15,026 15,580 17,431 Short-term investments, cash equivalents and other 3,581 4,215 2,306 18,607 19,795 19,737 Net realized and unrealized (losses) gains: Realized gains 2,231 53,465 2,698 Realized losses (1,598) (14,747) (483) Net unrealized investment (losses) gains recognized on equity securities still held (2,311) 4,042 (2,162) (1,678) 42,760 53
Net gains (losses) on investments in equity securities still held	The total fair values of the Company's investments in debt and equity securities as of December 31 are detailed below: 2020 2019 (in $ thousands) Investments in: Debt securities 631,386 605,721 Equity securities 53,001 39,318 684,387 645,039 Net investment gains and losses recognized for the years ended December 31 related to investments in equity securities are follows: 2020 2019 2018 (in $ thousands) Total net investment (losses) gains recognized on equity securities during the period (3,137) 4,825 (2,538) Less: Net realized (losses) gains on equity securities sold during the period (826) 783 (376) Net unrealized investment (losses) gains recognized on equity securities still held at December 31 (2,311) 4,042 (2,162)
Proceeds from sale of investments available-for-sale	The amortized costs and fair values of investments in debt securities as of December 31, are as follows: 2020 2019 Amortized Fair Amortized Fair (in $ thousands) Municipal 45,138 47,603 52,176 53,823 Corporate 285,962 305,450 299,074 309,142 Foreign 261,748 271,711 234,734 236,073 U.S. Treasury Bonds 6,564 6,622 6,664 6,683 599,412 631,386 592,648 605,721 Proceeds from sales of investments in securities for the years ended December 31 are as follows: 2020 2019 2018 (in $ thousands) Proceeds from sales of debt securities 36,449 46,834 43,556 Proceeds from sales of equity securities 791 3,771 5,886 Total proceeds from sales of investments in securities 37,240 50,605 49,442

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
Income taxes (Tables)	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax expense	Income tax expense consists of the following: 2020 2019 2018 (in $ thousands) Current income tax expense: Federal 47,778 12,329 5,540 State 3,235 846 1,089 Foreign 7,567 4,851 6,622 58,580 18,026 13,251 Deferred income tax expense (benefit): Federal (10,429) 6,631 43 State 388 150 (864) Foreign 294 1,888 1,077 (9,747) 8,669 256 Total income tax expense 48,833 26,695 13,507
Reconciliation of income tax expense (benefit) at federal statutory rate	The following reconciles income tax expense computed at the federal statutory rate with income tax expense as reported (in $ thousands, except for income tax rates): 2020 2019 2018 Expected income tax expense at 21% (1) 42,785 22,116 12,816 State income tax expense (benefit) - net of Federal impact 2,944 818 (5) Valuation allowance 2,427 1,326 1,741 Nondeductible expenses 2,399 3,249 1,872 Foreign income tax rate differential 1,465 138 297 Net expense (benefit) for the Canadian branch (2) (1,478) 613 128 Research and development credits (1,055) (278) (732) Return-to-provision and true-up adjustments (438) (776) (370) 2017 Act impact from the U.S. corporate tax rate change — — (745) 2017 Act impact from deemed repatriation of deferred foreign income — — (624) Other – net (216) (511) (871) Income tax expense 48,833 26,695 13,507 Effective income tax rate (1) 24.0 % 25.3 % 22.1 % (1) Calculated using income before taxes and after noncontrolling interests. (2) For U.S. income tax purposes, the Company’s Canadian operation is a branch of Guaranty. As a result, the Canadian net deferred tax liability is offset in the U.S. as a deferred tax asset but not in an equal amount given differing tax rates in Canada and the U.S.
Schedule of deferred tax assets and liabilities	Deferred tax assets and liabilities as of December 31 are detailed below. 2020 2019 (in $ thousands) Deferred tax assets: Accrued expenses 18,747 18,290 Federal offset to Canadian deferred tax liability 8,299 7,961 Net operating loss (NOL) carryforwards 5,036 7,017 Tax credit carryforwards 4,596 2,230 Deferred payroll taxes 3,297 — Net unrealized losses on investments in securities 2,719 621 Investments 1,529 424 Other intangibles 1,321 — Title loss provisions 1,138 837 Allowance for uncollectible amounts 1,056 983 Foreign currency translation adjustments 959 1,765 Other 1,174 533 Deferred tax assets – gross 49,871 40,661 Valuation allowance (6,471) (4,056) Deferred tax assets – net 43,400 36,605 Deferred tax liabilities: Amortization – goodwill and other intangibles (26,669) (22,379) Title loss provisions (18,724) (29,704) Net unrealized gains on investments in securities (7,684) (4,218) Fixed assets (6,046) (1,997) Deferred compensation on life insurance policies (2,296) (2,202) Investments (1,193) — Other (310) (417) Deferred tax liabilities – gross (62,922) (60,917) Net deferred income tax liability (19,522) (24,312)

Goodwill and other intangibles

Goodwill and other intangibles (Tables)	12 Months Ended
Goodwill and other intangibles (Tables)	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of goodwill	The summary of changes in goodwill is as follows: Title Ancillary Total (in $ thousands) Balances at January 1 and December 31, 2019 243,161 5,729 248,890 Acquisitions 118,272 64,315 182,587 Balances at December 31, 2020 361,433 70,044 431,477

Equity investees (Tables)

Equity investees (Tables)	12 Months Ended
Equity investees (Tables)	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Summary of aggregate financial information for equity investees	Summarized aggregate financial information for equity investees (in which the Company typically owns 20% through 50% of the equity) is as follows: 2020 2019 2018 (in $ thousands) For the year: Revenues 26,396 19,660 22,286 Net income 7,101 6,231 4,729 At December 31: Total assets 36,222 36,865 33,268 Notes payable 27,133 27,841 24,833 Stockholders’ equity 4,868 6,341 6,292

Notes payable (Tables)

Notes payable (Tables)	12 Months Ended
Notes payable (Tables)	Dec. 31, 2020
Debt Disclosure [Abstract]
Summary of notes payable	A summary of notes payable is as follows: 2020 2019 (in $ thousands) Line of credit facility (1) 98,875 98,875 Other notes payable 2,898 11,757 101,773 110,632 (1) Average interest rates were 1.73% and 3.55% during the years ended December 31, 2020 and 2019, respectively.

Estimated title losses (Tables)

Estimated title losses (Tables)	12 Months Ended
Estimated title losses (Tables)	Dec. 31, 2020
Loss Contingency [Abstract]
Summary of estimated title losses	A summary of estimated title losses is as follows: 2020 2019 2018 (in $ thousands, except for loss ratios) Balances at January 1 459,053 461,560 480,990 Provisions: Current year 98,823 79,141 70,480 Previous policy years 16,401 5,282 1,034 Total provisions 115,224 84,423 71,514 Payments, net of recoveries: Current year (15,455) (19,052) (17,460) Previous policy years (66,540) (71,956) (65,246) Total payments, net of recoveries (81,995) (91,008) (82,706) Effects of changes in foreign currency exchange rates 3,993 4,078 (8,238) Balances at December 31 496,275 459,053 461,560 Loss ratios as a percentage of title operating revenues: Current year provisions 4.5 % 4.3 % 3.8 % Total provisions 5.3 % 4.6 % 3.9 %

Share-based payments (Tables)

Share-based payments (Tables)	12 Months Ended
Share-based payments (Tables)	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Summary of the restricted common stock award/unit activity	A summary of the restricted common stock award activity during the year ended December 31, 2020 is presented below: Shares Weighted-Average Grant-Date Fair Value per Share ($) Outstanding at January 1, 2020 53,389 40.60 Granted 18,673 32.83 Vested (52,738) 40.55 Forfeited (651) 44.13 Outstanding at December 31, 2020 18,673 32.83 A summary of the restricted common stock unit activity during the year ended December 31, 2020 is presented below: Units Weighted-Average Grant-Date Fair Value per Share ($) Outstanding at January 1, 2020 196,017 42.21 Granted 104,202 39.78 Converted (32,242) 41.19 Forfeited (37,049) 42.31 Outstanding at December 31, 2020 230,928 41.25 Nonvested at December 31, 2020 177,855 40.61 A summary of the stock option activity during the year ended December 31, 2020 is presented below: Units Weighted-Average Exercise Price ($) Outstanding at January 1, 2020 — — Granted 647,832 39.76 Forfeited (14,552) 39.76 Outstanding and nonvested at December 31, 2020 633,280 39.76

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
Earnings per share (Tables)	Dec. 31, 2020
Earnings Per Share [Abstract]
Basic and diluted earnings (loss) per share	The calculation of the basic and diluted EPS is as follows: For the Years Ended December 31, 2020 2019 2018 Numerator (in $ thousands): Net income attributable to Stewart 154,905 78,615 47,523 Denominator (in thousands): Basic average shares outstanding 24,793 23,611 23,543 Average number of dilutive shares relating to restricted shares and units 120 142 142 Diluted average shares outstanding 24,913 23,753 23,685 Basic earnings per share attributable to Stewart ($) 6.25 3.33 2.02 Diluted earnings per share attributable to Stewart ($) 6.22 3.31 2.01

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2020
Leases [Abstract]
Schedule of lease-related assets and liabilities	Lease-related assets and liabilities as of December 31, 2020 and 2019 are as follows: 2020 2019 (in $ thousands) Assets: Operating lease assets, net of accumulated amortization 106,479 99,028 Finance lease assets, net of accumulated depreciation 3,065 4,312 Total lease assets 109,544 103,340 Liabilities: Operating lease liabilities 119,089 113,843 Finance lease liabilities 1,911 3,716 Total lease liabilities 121,000 117,559
Other information related to operating and finance leases	Other information related to operating and finance leases during the years ended December 31, 2020 and 2019 is as follows: 2 2 Operating Finance Operating Finance Cash paid for amounts included in the measurement of lease liabilities (in $ thousands) 40,452 1,913 43,207 3,076 Lease assets obtained in exchange for lease obligations (in $ thousands) 40,557 — 51,188 — Weighted average remaining lease term (years): 4.5 2.1 4.7 2.5 Weighted average discount rate 3.7 % 4.0 % 4.4 % 4.7 %
Future minimum lease payments under operating leases	Future minimum lease payments under operating and finance leases as of December 31, 2020 are as follows: Operating Finance (in $ thousands) 2021 37,490 957 2022 29,296 957 2023 23,589 80 2024 17,543 — 2025 9,124 — Thereafter 11,922 — Total future minimum lease payments 128,964 1,994 Less: imputed interest (9,875) (83) Net future minimum lease payments 119,089 1,911
Future minimum lease payments under finance leases	Future minimum lease payments under operating and finance leases as of December 31, 2020 are as follows: Operating Finance (in $ thousands) 2021 37,490 957 2022 29,296 957 2023 23,589 80 2024 17,543 — 2025 9,124 — Thereafter 11,922 — Total future minimum lease payments 128,964 1,994 Less: imputed interest (9,875) (83) Net future minimum lease payments 119,089 1,911

Revenues (Tables)

Revenues (Tables)	12 Months Ended
Revenues (Tables)	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Summary of operating revenues	The Company's operating revenues, summarized by type, are as follows: 2020 2019 2018 (in $ thousands) Title insurance premiums: Direct 716,779 615,646 597,510 Agency 1,151,030 970,540 1,003,959 Escrow fees 190,930 137,539 124,660 Appraisal management, search, abstract and valuation services 134,304 82,050 92,708 Other revenues 78,460 71,678 69,045 2,271,503 1,877,453 1,887,882

Segment information (Tables)

Segment information (Tables)	12 Months Ended
Segment information (Tables)	Dec. 31, 2020
Segment Reporting [Abstract]
Selected statement of operations and income (loss) information related to segments	Selected statement of income information related to these segments for the years ended December 31 is as follows: 2020 2019 2018 (in $ thousands) Title segment: Revenues 2,205,301 1,857,048 1,855,706 Depreciation and amortization 15,230 19,971 21,449 Income before taxes and noncontrolling interest 246,878 108,459 108,314 Ancillary services and corporate segment: Revenues 83,131 82,960 51,966 Depreciation and amortization 3,986 2,555 3,483 (Loss) income before taxes and noncontrolling interest (28,373) 8,508 (35,785) Consolidated Stewart: Revenues 2,288,432 1,940,008 1,907,672 Depreciation and amortization 19,216 22,526 24,932 Income before taxes and noncontrolling interest 218,505 116,967 72,529
Revenues generated in domestic and all international operations	Revenues for the years ended December 31 in the United States and all international operations are as follows: 2020 2019 2018 (in $ thousands) United States 2,154,672 1,816,531 1,787,843 International 133,760 123,477 119,829 2,288,432 1,940,008 1,907,672

Other comprehensive income (l_2

Other comprehensive income (loss) (Tables)	12 Months Ended
Other comprehensive income (loss) (Tables)	Dec. 31, 2020
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, 2020 For the Year Ended December 31, 2019 For the Year Ended Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Foreign currency translation adjustments 5,777 988 4,789 8,337 1,859 6,478 (13,336) (2,848) (10,488) Net unrealized gains and losses on investments: Change in net unrealized gains and losses on investments 19,548 4,105 15,443 19,220 4,036 15,184 (11,294) (2,372) (8,922) Reclassification adjustment for realized gains and losses on investments (647) (136) (511) 519 109 410 (1,167) (245) (922) 18,901 3,969 14,932 19,739 4,145 15,594 (12,461) (2,617) (9,844) Other comprehensive income (loss) 24,678 4,957 19,721 28,076 6,004 22,072 (25,797) (5,465) (20,332)

General - General (Details)

General - General (Details)	12 Months Ended
General - General (Details)	Dec. 31, 2020
Consolidated title revenues \| Texas, New York, California, Florida, Colorado and international markets (principally Canada)
Concentration Risk [Line Items]
Revenue percentage	47.00%

General - Title Losses and Rela

General - Title Losses and Related Claims (Details)	12 Months Ended
General - Title Losses and Related Claims (Details)	Dec. 31, 2020USD ($)
Reserve for Title Losses [Line Items]
Threshold amount for large claims	$ 1,000,000
Maximum
Reserve for Title Losses [Line Items]
Reserve amount, threshold percentage	5.00%
Minimum
Reserve for Title Losses [Line Items]
Reserve amount, threshold percentage	4.00%

General - Investments in Debt a

General - Investments in Debt and Equity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2018
Debt Securities, Available-for-sale [Line Items]
Net unrealized investment gains	$ 688,819	$ 564,392
ASU adoption adjustment
Debt Securities, Available-for-sale [Line Items]
Net unrealized investment gains			$ 4,600

General - Property and Equipmen

General - Property and Equipment (Details)	12 Months Ended
General - Property and Equipment (Details)	Dec. 31, 2020
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life (years)	30 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life (years)	40 years
Furniture and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life (years)	3 years
Furniture and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life (years)	5 years

General - Goodwill (Details)

General - Goodwill (Details)	12 Months Ended
General - Goodwill (Details)	Dec. 31, 2020reporting_unit
Accounting Policies [Abstract]
Number of reporting units	4

General - Other Intangibles (De

General - Other Intangibles (Details)	12 Months Ended
General - Other Intangibles (Details)	Dec. 31, 2020
Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated life (years)	3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated life (years)	10 years

General - Income taxes (Details

General - Income taxes (Details) $ in Millions	12 Months Ended
General - Income taxes (Details) $ in Millions	Dec. 31, 2018USD ($)
Retained Earnings
Reclassification [Line Items]
Reclassification of net tax expense from AOCI to retained earning	$ 1

Restrictions on cash and inve_2

Restrictions on cash and investments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Cash and Cash Equivalents [Abstract]
Statutory reserve funds	$ 496,594	$ 483,389
Restricted cash and cash equivalent	$ 20,000	$ 39,700

Statutory surplus and dividen_2

Statutory surplus and dividend restrictions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2021
Dividends Payable [Line Items]
Dividends paid by guaranty	$ 30		$ 25
Surplus for guaranty	794.7	$ 617.9
Statutory net income	133.2	$ 38.3	$ 74.2
Statutory capital and surplus necessary to satisfy regulatory requirements for guaranty	2
Underwriter entities
Dividends Payable [Line Items]
Statutory capital and surplus necessary to satisfy regulatory requirements for guaranty	$ 2
Forecast
Dividends Payable [Line Items]
Maximum amount of dividend to be paid				$ 158.9

Investments in debt and equit_3

Investments in debt and equity securities - Investments in Debt and Equity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Debt securities	$ 631,386	$ 605,721
Equity securities	53,001	39,318
Investments in debt and equity securities	$ 684,387	$ 645,039

Investments in debt and equit_4

Investments in debt and equity securities - Additional Information (Details) $ in Thousands	Dec. 31, 2020USD ($)investment	Dec. 31, 2019USD ($)
Investments, Debt and Equity Securities [Abstract]
Net unrealized investment gains on equity securities held	$ 4,400	$ 6,900
Debt Securities, Available-for-sale [Line Items]
Foreign debt securities	$ 631,386	605,721
Number of investments in an unrealized loss position \| investment	12
Number of investments in an unrealized loss positions for more than 12 months \| investment	3
Foreign
Debt Securities, Available-for-sale [Line Items]
Foreign debt securities	$ 271,711	236,073
Foreign \| Canada
Debt Securities, Available-for-sale [Line Items]
Foreign debt securities	240,400	206,500
Foreign \| United Kingdom
Debt Securities, Available-for-sale [Line Items]
Foreign debt securities	$ 25,200	$ 24,100

Investments in debt and equit_5

Investments in debt and equity securities - Amortized Costs and Fair Values (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized costs	$ 599,412	$ 592,648
Fair values	631,386	605,721
Municipal
Debt Securities, Available-for-sale [Line Items]
Amortized costs	45,138	52,176
Fair values	47,603	53,823
Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized costs	285,962	299,074
Fair values	305,450	309,142
Foreign
Debt Securities, Available-for-sale [Line Items]
Amortized costs	261,748	234,734
Fair values	271,711	236,073
U.S. Treasury Bonds
Debt Securities, Available-for-sale [Line Items]
Amortized costs	6,564	6,664
Fair values	$ 6,622	$ 6,683

Investments in debt and equit_6

Investments in debt and equity securities - Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Gains	$ 32,165	$ 14,162
Losses	191	1,089
Municipal
Debt Securities, Available-for-sale [Line Items]
Gains	2,465	1,649
Losses	0	2
Corporate
Debt Securities, Available-for-sale [Line Items]
Gains	19,594	10,091
Losses	106	23
Foreign
Debt Securities, Available-for-sale [Line Items]
Gains	10,024	2,362
Losses	61	1,023
U.S. Treasury Bonds
Debt Securities, Available-for-sale [Line Items]
Gains	82	60
Losses	$ 24	$ 41

Investments in debt and equit_7

Investments in debt and equity securities - Debt Securities According Contractual Terms (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amortized costs
In one year or less	$ 79,668
After one year through five years	304,610
After five years through ten years	184,215
After ten years	30,919
Amortized costs	599,412	$ 592,648
Fair values
In one year or less	80,400
After one year through five years	317,567
After five years through ten years	198,443
After ten years	34,976
Fair values	$ 631,386	$ 605,721

Investments in debt and equit_8

Investments in debt and equity securities - Gross Unrealized Losses on Investments and Fair Values of Related Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Losses
Less than 12 months	$ 146	$ 343
More than 12 months	45	746
Total	191	1,089
Fair values
Less than 12 months	16,430	99,581
More than 12 months	1,276	58,090
Total	17,706	157,671
Municipal
Losses
Less than 12 months	0	2
More than 12 months	0	0
Total	0	2
Fair values
Less than 12 months	0	53
More than 12 months	0	0
Total	0	53
Corporate
Losses
Less than 12 months	106	23
More than 12 months	0	0
Total	106	23
Fair values
Less than 12 months	13,518	7,420
More than 12 months	0	0
Total	13,518	7,420
Foreign
Losses
Less than 12 months	40	318
More than 12 months	21	705
Total	61	1,023
Fair values
Less than 12 months	2,912	92,108
More than 12 months	254	55,875
Total	3,166	147,983
U.S. Treasury Bonds
Losses
Less than 12 months	0	0
More than 12 months	24	41
Total	24	41
Fair values
Less than 12 months	0	0
More than 12 months	1,022	2,215
Total	$ 1,022	$ 2,215

Fair value measurements (Detail

Fair value measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 631,386	$ 605,721
Equity securities	53,001	39,318
Investments in debt and equity securities	684,387	645,039
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	53,001	39,318
Investments in debt and equity securities	53,001	39,318
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	631,386	605,721
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	47,603	53,823
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	47,603	53,823
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	305,450	309,142
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	305,450	309,142
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	271,711	236,073
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	271,711	236,073
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	6,622	6,683
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	6,622	6,683
U.S. Treasury Bonds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 0	$ 0

Investment income and net rea_3

Investment income and net realized and unrealized gains - Income from Investments and Net Realized and Unrealized Gains (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Investment income	$ 18,607	$ 19,795	$ 19,737
Net realized and unrealized (losses) gains:
Realized gains	2,231	53,465	2,698
Realized losses	(1,598)	(14,747)	(483)
Net unrealized investment (losses) gains recognized on equity securities still held	(2,311)	4,042	(2,162)
Investment and other gains (losses) – net	(1,678)	42,760	53
Debt securities
Debt Securities, Available-for-sale [Line Items]
Investment income	15,026	15,580	17,431
Short-term investments, cash equivalents and other
Debt Securities, Available-for-sale [Line Items]
Investment income	$ 3,581	$ 4,215	$ 2,306

Investment income and net rea_4

Investment income and net realized and unrealized gains - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Unrealized investment losses on equity securities	$ 2,300
Realized losses from sales of securities investments	(600)	$ (2,500)
Realized gains on equity investment	1,200
Gain realized from termination fee paid by FNF	50,000	50,000
Net unrealized gains on equity securities		4,000
Impairment expenses		14,700
Realized gains from sales of equity investments with no previously readily determinable fair value			$ 1,300
Net unrealized investment losses recognized on equity securities still held	$ 2,311	$ (4,042)	$ 2,162

Investment income and net rea_5

Investment income and net realized and unrealized gains - Net Gains (Losses) on Investments in Equity Securities Still Held (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Total net investment (losses) gains recognized on equity securities during the period	$ (3,137)	$ 4,825	$ (2,538)
Less: Net realized (losses) gains on equity securities sold during the period	(826)	783	(376)
Net unrealized investment (losses) gains recognized on equity securities still held at December 31	$ (2,311)	$ 4,042	$ (2,162)

Investment income and net rea_6

Investment income and net realized and unrealized gains - Proceeds from Sale of Investment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Total proceeds from sales of investments in securities	$ 37,240	$ 50,605	$ 49,442
Total proceeds from sales of investments in securities			49,442
Debt securities
Debt Securities, Available-for-sale [Line Items]
Total proceeds from sales of investments in securities	36,449	46,834
Total proceeds from sales of investments in securities			43,556
Equity securities
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales of equity securities	$ 791	$ 3,771
Total proceeds from sales of investments in securities			$ 5,886

Income taxes - Income Tax Expen

Income taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current income tax expense:
Federal	$ 47,778	$ 12,329	$ 5,540
State	3,235	846	1,089
Foreign	7,567	4,851	6,622
Current income tax expense:	58,580	18,026	13,251
Deferred income tax expense (benefit):
Federal	(10,429)	6,631	43
State	388	150	(864)
Foreign	294	1,888	1,077
Deferred income tax expense (benefit):	(9,747)	8,669	256
Total income tax expense	$ 48,833	$ 26,695	$ 13,507

Income taxes - Reconciliation o

Income taxes - Reconciliation of Income Tax Expenses Computed at Federal Statutory Rate with Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effective Tax Rate Reconciliation [Line Items]
Expected income tax expense at 21%	$ 42,785	$ 22,116	$ 12,816
State income tax expense (benefit) - net of Federal impact	2,944	818	(5)
Valuation allowance	2,427	1,326	1,741
Nondeductible expenses	2,399	3,249	1,872
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount	(1,055)	(278)	(732)
Return-to-provision and true-up adjustments	(438)	(776)	(370)
2017 Act impact from the U.S. corporate tax rate change	0	0	(745)
2017 Act impact from deemed repatriation of deferred foreign income	0	0	(624)
Other – net	(216)	(511)	(871)
Total income tax expense	$ 48,833	$ 26,695	$ 13,507
Effective income tax rate	24.00%	25.30%	22.10%
Foreign
Effective Tax Rate Reconciliation [Line Items]
Foreign income tax rate differential	$ 1,465	$ 138	$ 297
Canada
Effective Tax Rate Reconciliation [Line Items]
Foreign income tax rate differential	$ (1,478)	$ 613	$ 128

Income taxes - Deferred Tax Ass

Income taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Accrued expenses	$ 18,747	$ 18,290
Federal offset to Canadian deferred tax liability	8,299	7,961
Net operating loss (NOL) carryforwards	5,036	7,017
Tax credit carryforwards	4,596	2,230
Deferred payroll taxes	3,297	0
Net unrealized losses on investments in securities	2,719	621
Investments	1,529	424
Other intangibles	1,321	0
Title loss provisions	1,138	837
Allowance for uncollectible amounts	1,056	983
Foreign currency translation adjustments	959	1,765
Other	1,174	533
Deferred tax assets – gross	49,871	40,661
Valuation allowance	(6,471)	(4,056)
Deferred tax assets – net	43,400	36,605
Deferred tax liabilities:
Amortization – goodwill and other intangibles	(26,669)	(22,379)
Title loss provisions	(18,724)	(29,704)
Net unrealized gains on investments in securities	(7,684)	(4,218)
Deferred compensation on life insurance policies	(2,296)	(2,202)
Fixed assets	(6,046)	(1,997)
Investments	(1,193)	0
Other	(310)	(417)
Deferred tax liabilities – gross	(62,922)	(60,917)
Net deferred income tax liability	$ (19,522)	$ (24,312)

Income taxes - Additional Infor

Income taxes - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Tax Credit Carryforward [Line Items]
Net operating loss (NOL) carryforwards	$ 5,036	$ 7,017
Foreign
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 4,600

Goodwill and other intangible_2

Goodwill and other intangibles - Summary of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Goodwill summary
Beginning balances	$ 248,890
Acquisitions	182,587
Ending balances	431,477
Title
Goodwill summary
Beginning balances	243,161
Acquisitions	118,272
Ending balances	361,433
Ancillary Services and Corporate
Goodwill summary
Beginning balances	5,729
Acquisitions	64,315
Ending balances	$ 70,044

Goodwill and other intangible_3

Goodwill and other intangibles - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Increase in goodwill	$ 182,587
Other intangibles, gross carrying amount	72,900	$ 35,000
Accumulated amortization of other intangibles	35,500	30,400
Amortization expense of other intangibles	5,100	$ 4,200
Future amortization expense
Expected amortization expense in 2021	8,100
Expected amortization expense in 2022	6,500
Expected amortization expense in 2023	5,700
Expected amortization expense in 2024	4,400
Expected amortization expense in 2025	$ 3,900
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period	10 years
Internally-developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period	5 years
Title
Acquired Finite-Lived Intangible Assets [Line Items]
Increase in goodwill	$ 118,272
Other intangibles acquired	700
Ancillary Services and Corporate
Acquired Finite-Lived Intangible Assets [Line Items]
Increase in goodwill	64,315
Other intangibles acquired	$ 37,100

Equity investees - Summarized A

Equity investees - Summarized Aggregate Financial Information for Equity Investees (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Revenues	$ 2,288,432	$ 1,940,008	$ 1,907,672
Net income	154,905	78,615	47,523
Total assets	1,978,575	1,592,785
Notes payable	966,169	839,026
Total stockholders’ equity attributable to Stewart	1,005,112	747,306
Equity method investment, nonconsolidated investee or group of investees
Schedule of Equity Method Investments [Line Items]
Revenues	26,396	19,660	22,286
Net income	7,101	6,231	4,729
Total assets	36,222	36,865	33,268
Notes payable	27,133	27,841	24,833
Total stockholders’ equity attributable to Stewart	$ 4,868	$ 6,341	$ 6,292

Equity investees - Additional I

Equity investees - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Subsidiary, Sale of Stock [Line Items]
Revenues	$ 2,288,432	$ 1,940,008	$ 1,907,672
Net income	154,905	78,615	47,523
Goodwill	431,477	248,890
Impairment on disposal of equity investment		2,700
Equity method investment, nonconsolidated investee or group of investees
Subsidiary, Sale of Stock [Line Items]
Revenues	26,396	19,660	22,286
Net income	7,101	6,231	4,729
Goodwill	4,600	4,600
Equity method investment, nonconsolidated investee or group of investees \| Direct operations
Subsidiary, Sale of Stock [Line Items]
Revenues	2,300	700	2,100
Net income	$ 3,500	$ 3,000	$ 1,900

Notes payable - Summary of Note

Notes payable - Summary of Notes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Line of credit facility	$ 98,875	$ 98,875
Other notes payable	2,898	11,757
Notes payable	$ 101,773	$ 110,632
Average interest rate	1.73%	3.55%

Notes payable - Additional Info

Notes payable - Additional Information (Details) - USD ($)	Apr. 30, 2020	Dec. 31, 2020	May 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Principal payments on notes in 2021		$ 1,900,000
Principal payments on notes in 2022		900,000
Principal payments on notes in 2023		100,000
Principal payments on notes in 2025		98,900,000
Debt Instrument [Line Items]
Capital lease obligation		1,911,000		$ 3,716,000
Bank line of credit facility, outstanding		98,875,000		98,875,000
Notes payable, other than banks
Debt Instrument [Line Items]
Outstanding balances of short-term loan agreements		700,000		$ 8,000,000
Minimum
Debt Instrument [Line Items]
Commitment fee (percent)	0.20%
Maximum
Debt Instrument [Line Items]
Commitment fee (percent)	0.35%
LIBOR
Debt Instrument [Line Items]
Line of credit, conditional increase in maximum borrowing capacity			$ 50,000,000
Line of credit
Debt Instrument [Line Items]
Bank line of credit facility amount	$ 150,000,000		$ 200,000,000
Fixed charge ratio, minimum	1.15
Leverage ratio, maximum	3.50
Aggregate annual capital expenditures allowed	$ 30,000,000
Annual dividend payments allowed	$ 40,000,000
Bank line of credit facility, outstanding		98,900,000
Remaining borrowing capacity		98,600,000
Line of credit \| Letter of credit
Debt Instrument [Line Items]
Remaining borrowing capacity		$ 2,500,000
Line of credit \| Alternate Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate, line of credit (percent)	0.375%
Line of credit \| Alternate Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate, line of credit (percent)	0.50%
Line of credit \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate, line of credit (percent)	1.375%
Line of credit \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate, line of credit (percent)	1.75%

Estimated title losses - Estima

Estimated title losses - Estimated Title Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loss Contingency Accrual
Balances at beginning of period	$ 459,053	$ 461,560	$ 480,990
Provisions:
Current year	98,823	79,141	70,480
Previous policy years	16,401	5,282	1,034
Total provisions	115,224	84,423	71,514
Payments, net of recoveries:
Current year	(15,455)	(19,052)	(17,460)
Previous policy years	(66,540)	(71,956)	(65,246)
Total payments, net of recoveries	(81,995)	(91,008)	(82,706)
Effects of changes in foreign currency exchange rates	3,993	4,078	(8,238)
Balances at end of period	$ 496,275	$ 459,053	$ 461,560
Loss ratios as a percentage of title operating revenues:
Current year provisions	4.50%	4.30%	3.80%
Total provisions	5.30%	4.60%	3.90%

Estimated title losses - Additi

Estimated title losses - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Large Title claims
Gain (Loss) on Securities [Line Items]
Total provisions related to prior policy years	$ 12	$ 6	$ 4.4

Share-based payments - Addition

Share-based payments - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Strike price (in usd per share)	$ 39.76
Fair value of options granted in the period	$ 3.4
Number of options granted in the period (in shares)	647,832
Average grant price (in usd per share)	$ 5.32
Fair value of vested shares	$ 5.6	$ 2.1
Intrinsic Value	$ 5.4
Remaining contractual term	9 years 1 month 6 days
Compensation costs	$ 5.8	$ 2.1	$ 4.8
Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	18,700	13,700	14,300
Fair value of vested shares	$ 0.6	$ 0.6	$ 0.6
Time-based shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Performance-based shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Stock options \| Tranche one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	20.00%
Stock options \| Tranche two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	30.00%
Stock options \| Tranche three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	50.00%
Restricted stock and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair values at grant date	$ 4.1	$ 5.1	$ 4.8
Granted (in shares)	104,200	122,400	110,600
Average grant price (in usd per share)	$ 39.78	$ 42.02	$ 43.39
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	18,673
Average grant price (in usd per share)	$ 32.83
Shares granted in relation to the annual director retainer compensation (in shares)	52,738
Tax benefits related to vesting of awards	$ 0.6	$ 0.5	$ 1.1
Compensation costs not yet recognized	$ 5.3
Compensation costs not yet recognized, period for recognition	2 years

Share-based payments - Summary

Share-based payments - Summary of the Restricted Common Stock Award (Details) - Restricted stock	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Units
Nonvested balance at beginning of period (in shares) \| shares	53,389
Granted (in shares) \| shares	18,673
Vested (in shares) \| shares	(52,738)
Forfeited (in shares) \| shares	(651)
Nonvested balance at end of period (in shares) \| shares	18,673
Weighted-Average Exercise Price ($)
Nonvested balance at beginning of period (in usd per share) \| $ / shares	$ 40.60
Granted (in usd per share) \| $ / shares	32.83
Vested (in usd per share) \| $ / shares	40.55
Forfeited (in usd per share) \| $ / shares	44.13
Nonvested balance at end of period (in usd per share) \| $ / shares	$ 32.83

Share-based payments - Summar_2

Share-based payments - Summary of Restricted Common Stock Unit Activity (Details) - Restricted stock unit	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Shares
Outstanding at January 1, 2020 (in shares) \| shares	196,017
Granted (in shares) \| shares	104,202
Vested/Converted (in shares) \| shares	(32,242)
Forfeited (in shares) \| shares	(37,049)
Outstanding at December 31, 2020 (in shares) \| shares	230,928
Nonvested balance at end of period (in shares) \| shares	177,855
Weighted-Average Grant-Date Fair Value per Share ($)
Outstanding at January 1, 2020 (in usd per share) \| $ / shares	$ 42.21
Granted (in usd per share) \| $ / shares	39.78
Vested/Converted (in usd per share) \| $ / shares	41.19
Forfeited (in usd per share) \| $ / shares	42.31
Outstanding at December 31, 2020 (in usd per share) \| $ / shares	41.25
Nonvested balance at end of period (in usd per share) \| $ / shares	$ 40.61

Share-based payments - Schedule

Share-based payments - Schedule Of Options Activity (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Units
Outstanding at January 1, 2020 (in shares) \| shares	0
Granted (in shares) \| shares	647,832
Forfeited (in shares) \| shares	(14,552)
Outstanding at December 31, 2020 (in shares) \| shares	633,280
Weighted-Average Exercise Price ($)
Outstanding at January 1, 2020 (in usd per share) \| $ / shares	$ 0
Granted (in usd per share) \| $ / shares	39.76
Forfeited (in usd per share) \| $ / shares	39.76
Outstanding at December 31, 2020 (in usd per share) \| $ / shares	$ 39.76

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator
Net income attributable to Stewart	$ 154,905	$ 78,615	$ 47,523
Denominator
Basic average shares outstanding (in shares)	24,793	23,611	23,543
Average number of dilutive shares relating to restricted shares and units (in shares)	120	142	142
Diluted average shares outstanding (in shares)	24,913	23,753	23,685
Basic earnings per share attributable to Stewart (in usd per share)	$ 6.25	$ 3.33	$ 2.02
Diluted earnings per share attributable to Stewart (in usd per share)	$ 6.22	$ 3.31	$ 2.01

Reinsurance (Details)

Reinsurance (Details) - USD ($)	12 Months Ended
Reinsurance (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Insurance [Abstract]
Total amount of premiums for assumed and ceded risks as a percentage of consolidated title revenue (less than)	1.00%	1.00%	1.00%
Reinsurance recoverables	$ 0	$ 0
Reinsurance payable	$ 0	$ 0

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease expense	$ 41.1	$ 44.2	$ 40.8
Short-term lease expense	3.4	4.2
Total finance lease expense	$ 1.4	$ 2.4	$ 3.8

Leases - Classification of Leas

Leases - Classification of Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets:
Operating lease assets, net of accumulated amortization	$ 106,479	$ 99,028
Finance lease assets, net of accumulated depreciation	3,065	4,312
Total lease assets	109,544	103,340
Liabilities:
Operating lease liabilities	119,089	113,843
Finance lease liabilities	1,911	3,716
Total lease liabilities	$ 121,000	$ 117,559

Leases - Other Information Rela

Leases - Other Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating
Cash paid for amounts included in the measurement of lease liabilities	$ 40,452	$ 43,207
Lease assets obtained in exchange for lease obligations	$ 40,557	$ 51,188
Weighted average remaining lease term (years)	4 years 6 months	4 years 8 months 12 days
Weighted average discount rate	3.70%	4.40%
Finance
Cash paid for amounts included in the measurement of lease liabilities	$ 1,913	$ 3,076
Lease assets obtained in exchange for lease obligations	$ 0	$ 0
Weighted average remaining lease term (years)	2 years 1 month 6 days	2 years 6 months
Weighted average discount rate	4.00%	4.70%

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating
2021	$ 37,490
2022	29,296
2023	23,589
2024	17,543
2025	9,124
Thereafter	11,922
Total future minimum lease payments	128,964
Less: imputed interest	(9,875)
Net future minimum lease payments	119,089	$ 113,843
Finance
2021	957
2022	957
2023	80
2024	0
2025	0
Thereafter	0
Total future minimum lease payments	1,994
Less: imputed interest	(83)
Net future minimum lease payments	$ 1,911	$ 3,716

Contingent liabilities and co_2

Contingent liabilities and commitments (Details) $ in Millions	Dec. 31, 2020USD ($)
Loss Contingencies [Line Items]
Guarantee of indebtedness, relating to unused letters of credit	$ 5.2
Escrow account deposit
Loss Contingencies [Line Items]
Contingent liability, escrow deposit	1,400
Escrow account deposit - Section 1031 Exchange
Loss Contingencies [Line Items]
Contingent liability, escrow deposit	$ 1,500

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
Revenues (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Operating revenues	$ 2,271,503	$ 1,877,453	$ 1,887,882
Title insurance premiums, Direct
Disaggregation of Revenue [Line Items]
Operating revenues	716,779	615,646	597,510
Title insurance premiums, Agency
Disaggregation of Revenue [Line Items]
Operating revenues	1,151,030	970,540	1,003,959
Escrow fees
Disaggregation of Revenue [Line Items]
Operating revenues	190,930	137,539	124,660
Appraisal management, search, abstract and valuation services
Disaggregation of Revenue [Line Items]
Operating revenues	134,304	82,050	92,708
Other revenues
Disaggregation of Revenue [Line Items]
Operating revenues	$ 78,460	$ 71,678	$ 69,045

Segment information - Additiona

Segment information - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)
Segment Reporting [Abstract]
Number of operating segments \| segment	2
Gain realized from termination fee paid by FNF \| $	$ 50	$ 50

Segment information - Selected

Segment information - Selected Statement of Operations and Income (Loss) Information Related to Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 2,288,432	$ 1,940,008	$ 1,907,672
Depreciation and amortization	19,216	22,526	24,932
(Loss) income before taxes and noncontrolling interest	218,505	116,967	72,529
Title segment
Segment Reporting Information [Line Items]
Revenues	2,205,301	1,857,048	1,855,706
Depreciation and amortization	15,230	19,971	21,449
(Loss) income before taxes and noncontrolling interest	246,878	108,459	108,314
Ancillary services and corporate segment
Segment Reporting Information [Line Items]
Revenues	83,131	82,960	51,966
Depreciation and amortization	3,986	2,555	3,483
(Loss) income before taxes and noncontrolling interest	$ (28,373)	$ 8,508	$ (35,785)

Segment information - Revenues

Segment information - Revenues Generated in Domestic and Foreign Country (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 2,288,432	$ 1,940,008	$ 1,907,672
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	2,154,672	1,816,531	1,787,843
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 133,760	$ 123,477	$ 119,829

Other comprehensive income (l_3

Other comprehensive income (loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Before-Tax Amount
Other comprehensive income (loss)	$ 24,678	$ 28,076	$ (25,797)
Tax Expense (Benefit)
Other comprehensive income (loss)	4,957	6,004	(5,465)
Net-of-Tax Amount
Other comprehensive income (loss)	19,721	22,072	(20,332)
Foreign currency translation adjustments
Before-Tax Amount
Other comprehensive income (loss)	5,777	8,337	(13,336)
Tax Expense (Benefit)
Other comprehensive income (loss)	988	1,859	(2,848)
Net-of-Tax Amount
Other comprehensive income (loss)	4,789	6,478	(10,488)
Net unrealized gains on investments
Before-Tax Amount
Change in net unrealized gains and losses on investments	19,548	19,220	(11,294)
Reclassification adjustment for realized gains and losses on investments	(647)	519	(1,167)
Other comprehensive income (loss)	18,901	19,739	(12,461)
Tax Expense (Benefit)
Change in net unrealized gains and losses on investments	4,105	4,036	(2,372)
Reclassification adjustment for realized gains and losses on investments	(136)	109	(245)
Other comprehensive income (loss)	3,969	4,145	(2,617)
Net-of-Tax Amount
Change in net unrealized gains and losses on investments	15,443	15,184	(8,922)
Reclassification adjustment for realized gains and losses on investments	(511)	410	(922)
Other comprehensive income (loss)	$ 14,932	$ 15,594	$ (9,844)

Common Stock (Details)

Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Common stock issued an aggregate (in shares)	3,026,340
Common stock par value (in usd per share)	$ 1
Issuance of Common Stock	$ 108,961	$ 0	$ 0

Schedule I - Financial Inform_2

Schedule I - Financial Information of the Registrant (Parent Company) - Statements of Income and Retained Earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues
Investment income	$ 18,607	$ 19,795	$ 19,737
Merger termination fee	50,000	50,000
Revenues	2,288,432	1,940,008	1,907,672
Expenses
Interest	2,624	4,341	3,875
Other operating expenses	375,188	345,349	345,307
Total expenses	2,069,927	1,823,041	1,835,143
Income before taxes and income from subsidiaries	218,505	116,967	72,529
Income tax expense	(48,833)	(26,695)	(13,507)
Net income attributable to Stewart	154,905	78,615	47,523
Retained Earnings [Roll Forward]
Retained earnings at beginning of year	564,392
Retained earnings at end of year	688,819	564,392
Parent company
Revenues
Investment income	30,000	0	25,000
Merger termination fee	0	50,000	0
Other income	1,182	753	665
Revenues	31,182	50,753	25,665
Expenses
Interest	2,511	4,106	3,511
Other operating expenses	9,262	12,787	15,174
Total expenses	11,773	16,893	18,685
Income before taxes and income from subsidiaries	19,409	33,860	6,980
Income tax expense	(15)	(15)	(126)
Income from subsidiaries	135,511	44,770	40,669
Net income attributable to Stewart	154,905	78,615	47,523
Retained Earnings [Roll Forward]
Retained earnings at beginning of year	564,392	514,248	491,698
Cash dividends on Common Stock	(30,478)	(28,471)	(28,565)
Retained earnings at end of year	688,819	564,392	514,248
Parent company \| Cumulative effect adjustments on adoption of new accounting standards (Note 1-H and Note 7)
Retained Earnings [Roll Forward]
Retained earnings at beginning of year	$ 0	0	3,592
Retained earnings at end of year		$ 0	$ 0

Schedule I - Financial Inform_3

Schedule I - Financial Information of the Registrant (Parent Company) - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 432,683	$ 330,609
Receivables:
Notes - due from subsidiaries	1,557	2,464
Total receivables	87,812	72,003
Property and equipment, at cost:
Furniture and equipment	168,147	178,416
Accumulated depreciation	(142,038)	(151,483)
Total property and equipment, at cost	51,671	50,461
Investments in subsidiaries, on an equity-method basis	6,765	6,169
Operating lease assets	106,479	99,028
Goodwill	431,477	248,890
Other assets	42,048	35,402
Total assets	1,978,575	1,592,785
Liabilities
Accounts payable and other liabilities	225,180	126,779
Operating lease liabilities	119,089	113,843
Notes payable	101,773	110,632
Total liabilities	966,169	839,026
Contingent liabilities and commitments
Stockholders’ equity
Common Stock – $1 par, authorized 51,500,000; issued 27,080,403 and 24,061,568; outstanding 26,728,242 and 23,709,407, respectively	27,080	24,062
Additional paid-in capital	274,857	164,217
Retained earnings	688,819	564,392
Accumulated other comprehensive income (loss) (AOCI):
Foreign currency translation adjustments	(8,238)	(13,027)
Net unrealized investment gains	25,260	10,328
Treasury stock – 352,161 common shares, at cost	(2,666)	(2,666)
Total stockholders’ equity	1,005,112	747,306
Total liabilities and stockholders' equity	1,978,575	1,592,785
Parent company
Assets
Cash and cash equivalents	3,604	36,849
Receivables:
Notes - due from subsidiaries	45,193	5,193
Receivables from affiliates	2,258	260
Total receivables	47,451	5,453
Property and equipment, at cost:
Furniture and equipment	75	88
Accumulated depreciation	(74)	(83)
Total property and equipment, at cost	1	5
Investments in subsidiaries, on an equity-method basis	1,055,154	802,994
Operating lease assets	7,439	8,931
Goodwill	8,068	8,470
Other assets	16,339	15,810
Total assets	1,138,056	878,512
Liabilities
Accounts payable and other liabilities	24,040	21,417
Operating lease liabilities	10,029	10,914
Notes payable	98,875	98,875
Total liabilities	132,944	131,206
Contingent liabilities and commitments	0	0
Stockholders’ equity
Common Stock – $1 par, authorized 51,500,000; issued 27,080,403 and 24,061,568; outstanding 26,728,242 and 23,709,407, respectively	27,080	24,062
Additional paid-in capital	274,857	164,217
Retained earnings	688,819	564,392	$ 514,248	$ 491,698
Accumulated other comprehensive income (loss) (AOCI):
Foreign currency translation adjustments	(8,238)	(13,027)
Net unrealized investment gains	25,260	10,328
Treasury stock – 352,161 common shares, at cost	(2,666)	(2,666)
Total stockholders’ equity	1,005,112	747,306
Total liabilities and stockholders' equity	$ 1,138,056	$ 878,512

Schedule I - Financial Inform_4

Schedule I - Financial Information of the Registrant (Parent Company) - Balance Sheets (Additional Information) (Details) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock, par value (in usd per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	51,500,000	51,500,000
Common stock, shares issued (in shares)	27,080,403	24,061,568
Common stock, shares outstanding (in shares)	26,728,242	23,709,407
Treasury stock, common shares (in shares)	352,161	352,161
Parent company
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock, par value (in usd per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	51,500,000	51,500,000
Common stock, shares issued (in shares)	27,080,403	24,061,568
Common stock, shares outstanding (in shares)	26,728,242	23,709,407
Treasury stock, common shares (in shares)	352,161	352,161

Schedule I - Financial Inform_5

Schedule I - Financial Information of the Registrant (Parent Company) - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of net income to cash (used) provided by operating activities:
Net income	$ 154,905	$ 78,615	$ 47,523
Add (deduct):
Depreciation	19,216	22,526	24,932
(Increase) decrease in receivables – net	(6,598)	(2,917)	5,280
(Increase) decrease in other assets – net	(5,380)	6,865	4,469
Increase (decrease) in payables and accrued liabilities – net	62,738	31,471	(12,002)
Income from and other adjustments for subsidiaries	(3,504)	(3,044)	(1,940)
Cash (used) provided by operating activities	275,806	166,359	84,177
Investing activities:
Cash (used) provided by investing activities	(231,370)	7,040	9,379
Financing activities:
Issuance of Common Stock	108,961	0	0
Dividends paid	(30,226)	(28,345)	(28,263)
Repurchases of Common Stock	(1,054)	(532)	(1,175)
Purchase of remaining interest of consolidated subsidiary	0	0	(1,101)
Cash provided (used) by financing activities	54,301	(37,762)	(47,758)
Increase in cash and cash equivalents	102,074	138,542	41,988
Cash and cash equivalents at beginning of year	330,609	192,067	150,079
Cash and cash equivalents at end of year	432,683	330,609	192,067
Supplemental information:
Income taxes paid, net	44,756	11,992	12,854
Interest paid	2,604	4,241	4,214
Parent company
Reconciliation of net income to cash (used) provided by operating activities:
Net income	154,905	78,615	47,523
Add (deduct):
Depreciation	4	8	4
(Increase) decrease in receivables – net	(1,998)	(253)	922
(Increase) decrease in other assets – net	(529)	1,659	853
Increase (decrease) in payables and accrued liabilities – net	2,978	2,698	(4,476)
Income from and other adjustments for subsidiaries	(170,816)	(43,240)	(45,793)
Cash (used) provided by operating activities	(15,456)	39,487	(967)
Investing activities:
Dividends from subsidiary	30,000	0	25,000
Collections on notes receivables	40,000	1,416	24,900
Increases in notes receivables	(80,000)	0	(5,193)
Investments in and contributions to subsidiaries	(85,470)	0	0
Cash (used) provided by investing activities	(95,470)	1,416	44,707
Financing activities:
Issuance of Common Stock	108,961	0	0
Dividends paid	(30,226)	(28,345)	(28,263)
Repurchases of Common Stock	(1,054)	(532)	(1,175)
Purchase of remaining interest of consolidated subsidiary	0	0	(1,101)
Cash provided (used) by financing activities	77,681	(28,877)	(30,539)
Increase in cash and cash equivalents	(33,245)	12,026	13,201
Cash and cash equivalents at beginning of year	36,849	24,823	11,622
Cash and cash equivalents at end of year	3,604	36,849	24,823
Supplemental information:
Income taxes paid, net	180	0	0
Interest paid	$ 2,490	$ 4,009	$ 3,849

Schedule I - Financial Inform_6

Schedule I - Financial Information of the Registrant (Parent Company) - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Merger termination fee	$ 50,000	$ 50,000
Dividends paid by guaranty	30,000		$ 25,000
Net unrealized investment gains	688,819	564,392
Parent company
Condensed Financial Statements, Captions [Line Items]
Merger termination fee	0	50,000	0
Expenses related to Mergers and strategic alternatives review		6,800	12,700
Executive insurance policy settlement expenses		2,200
Net unrealized investment gains	$ 688,819	564,392	514,248	$ 491,698
Parent company \| Cumulative effect adjustments on adoption of new accounting standards (Note 1-H and Note 7)
Condensed Financial Statements, Captions [Line Items]
Net unrealized investment gains		$ 0	$ 0	$ 3,592

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Estimated title losses
Movement in Valuation Allowances and Reserves
Balance at beginning of period	$ 459,053	$ 461,560	$ 480,990
Additions charged to costs and expenses	115,224	84,423	71,514
Deductions	78,002	86,930	90,944
Balance At end of period	496,275	459,053	461,560
Valuation allowance for deferred tax assets
Movement in Valuation Allowances and Reserves
Balance at beginning of period	4,056	3,824	2,231
Additions charged to costs and expenses	2,532	236	1,791
Deductions	117	4	198
Balance At end of period	6,471	4,056	3,824
Allowance for uncollectible amounts
Movement in Valuation Allowances and Reserves
Balance at beginning of period	4,469	4,614	5,156
Additions charged to costs and expenses	649	1,672	519
Deductions	311	1,817	1,061
Balance At end of period	$ 4,807	$ 4,469	$ 4,614