Financial Data and Key Metrics Changes - For Q2 2021, the company reported net income of $95 million and diluted earnings per share of $3.50 on total operating revenues of $802 million, with adjusted net income improving to $86 million from $32 million in the same quarter last year [13][14] - Total title revenues increased by $248 million or 50% compared to the previous year, driven by strong performances in residential agency and commercial operations [14] - The pretax margin for the title segment improved to 17% from 11% in Q2 2020 [14] Business Line Data and Key Metrics Changes - Residential revenues increased by $76 million or 47% due to higher purchase and refinancing transactions, with the residential fee per file improving by 15% to approximately $2,100 [15] - Domestic commercial revenues rose by $30 million or 97%, attributed to increased transaction volume and a higher average fee per file of $12,600 compared to $9,800 in the previous year [15] - Agency operations generated revenues of $390 million, which was $113 million or 41% higher than last year, with an average agency remittance rate of 17.5% [16] Market Data and Key Metrics Changes - Total international revenues increased by $29 million or 118%, primarily due to improved volumes in Canadian operations [16] - Total opened orders increased by 8%, while closed orders improved by 27% compared to the previous year, reflecting a strong housing market [16] Company Strategy and Development Direction - The company aims to become the premier title services company by focusing on targeted scale, operational improvement, talent upgrades, and acquisitions in core and ancillary business lines [6][7] - The management acknowledges the current real estate market's strength but remains realistic about its sustainability, emphasizing the need for strategic decisions to define the company through the current market and future cycles [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term real estate market while highlighting several watch items, including Fed policies, virus variants, and mortgage delinquency rates [11][12] - The company is focused on gaining scale in attractive direct markets and improving service and digital capabilities to enhance user experience [12] Other Important Information - The company's financial position remains solid, with total cash and investments approximately $600 million over regulatory requirements and $225 million available on its line of credit [18] - Shareholders' equity attributable to the company increased to $1.13 billion, with a book value per share of approximately $42 [18] Q&A Session Summary Question: Any reason to think that margins will change meaningfully from what you reported? - Management believes margins are sustainable and have made good progress towards their goal of doubling margins over three years, currently ahead of expectations due to market strength [22][24] Question: What are the expectations for the loss provision rate in the back half of the year? - Management indicated that the loss provision rate has been running lower due to moratoriums on foreclosures, but future activity could impact this rate [30][32] Question: What is the outlook for the ancillary services business margins? - Management aims to align ancillary services margins with corporate margins, noting improvements but acknowledging challenges due to market conditions [34][36] Question: How much impact did the Thomas title acquisition have on commercial orders? - Management stated that the acquisition had a minimal impact this quarter, but they are optimistic about the momentum in the commercial business [39] Question: Can you provide an update on the commercial market and Stewart's performance? - Management noted a broad-based recovery in the commercial market, with a focus on key sectors and markets, and expressed confidence in gaining market share [44][46]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-02658 STEWART INFORMATION SERVICES CORPORATION (Exact name of registrant as specified in its charter) | Delaware | | 74-1677330 ...

Stewart Information Services Corporation (NYSE:STC) Q1 2021 Results Conference Call April 22, 2021 8:30 AM ET Company Participants Nathaniel Otis - Senior Vice President and Director of Investor Relation Frederick Eppinger - Chief Executive Officer David Hisey - Chief Financial Officer Conference Call Participants Bose George - Keefe, Bruyette, & Woods John Campbell - Stephens Inc Geoffrey Murray Dunn - Dowling & Partners Securities Operator Hello, and thank you for joining the Stewart Information Services ...

Company Overview - Stewart Information Services Corporation operates primarily in the United States and has regional offices in Australia, Canada, Europe, Mexico, and the UK, providing title insurance and related services[12]. - As of December 31, 2020, approximately 92% of the company's combined debt and equity securities investment portfolios consisted of fixed income securities, with 91% rated A or higher[39]. - As of December 31, 2020, the company employed approximately 5,800 people, with about 5,200 in the U.S. and 600 internationally[41]. Financial Performance - For the year ended December 31, 2020, net income attributable to the company was $154.9 million, or $6.22 per diluted share, compared to $78.6 million, or $3.31 per diluted share, for the year ended December 31, 2019[85]. - Total revenues increased 18% to $2.3 billion in 2020, from $1.9 billion in 2019, primarily due to increased revenues from title operations and acquisitions[85]. - The company acquired several title offices and two appraisal management services companies in 2020, contributing $109.2 million to total revenues and $17.3 million to pretax income[86]. - For the fourth quarter 2020, net income attributable to the company was $59.7 million ($2.22 per diluted share), compared to break-even results for the fourth quarter 2019[87]. - Title segment operating revenues for the fourth quarter 2020 were $690.2 million, a 36% increase from $506.0 million in the fourth quarter 2019[90]. - Total operating expenses increased 14% in 2020 compared to 2019, in line with improved revenues[85]. Title Insurance Segment - The title insurance segment includes home and personal insurance services and tax-deferred exchanges, with revenues closely tied to real estate market activity and financing costs[13][26]. - Title insurance revenues are affected by factors such as consumer confidence, foreign currency exchange rates, and interest rates, with the first quarter typically being the least active[26]. - The demand for title insurance-related and mortgage services offerings is primarily dependent on the volume of residential and commercial real estate transactions[53]. - Title losses increased by $30.8 million, or 36%, in 2020 compared to 2019, driven by higher title premiums and increased loss provisioning due to COVID-19 uncertainties[137]. - The total estimated title losses reserve increased to $496.3 million in 2020 from $459.1 million in 2019, with known claims at $68.9 million and IBNR at $427.4 million[140]. Ancillary Services Segment - The ancillary services segment supports the mortgage industry with appraisal management and online notarization services, bolstered by acquisitions in 2020[35]. - Total operating revenues for ancillary services and corporate segment surged by 464% to $38.0 million in Q4 2020 from $6.7 million in Q4 2019[95]. - Ancillary services revenues increased 121% to $83.5 million in 2020, driven by $65.8 million from acquisitions[124]. Investments and Financial Position - Total cash and investments as of December 31, 2020, amounted to $1.1 billion, with $814.8 million held in the U.S.[143]. - Total debt was $101.8 million, while stockholders' equity stood at $1.0 billion as of December 31, 2020, resulting in a debt-to-equity ratio of approximately 10.0%[156]. - The company generated net proceeds of approximately $109.0 million from the issuance of new shares of Common Stock in 2020, primarily for acquisitions[155]. - Investment income declined 6% to $18.8 million in 2020 due to lower interest income from investments[125]. Regulatory and Compliance - The company’s insurance subsidiaries must comply with extensive government regulations, which could affect revenue growth[61]. - A downgrade of the company’s underwriters by rating agencies may reduce revenues and impact customer relationships[60]. - Management assessed the effectiveness of internal control over financial reporting as of December 31, 2020, and concluded that it is effective[174]. Employee and Workplace - The company is committed to an inclusive workplace, ensuring equal treatment of all employees regardless of demographics[42]. - Employee costs increased by $46.0 million, or 8%, in 2020 compared to 2019, primarily due to acquisitions and higher incentive compensation[129]. - Employee costs as a percentage of total operating revenues decreased to 27.0% in 2020 from 30.2% in 2019[130]. Economic Factors - The company’s revenues and results of operations are affected by changes in economic conditions, particularly mortgage interest rates and real estate prices[52]. - The company’s financial performance could be adversely impacted by climate change and extreme weather events[59]. - The average 30-year mortgage interest rate for 2021 is expected to remain at 3.11%, with total lending estimated to decline 21% compared to 2020[117]. Future Outlook - The company anticipates that the 2021 loss ratio will be comparable to the full year 2020 loss ratio of 5.3%[91]. - New and existing home sales in 2021 are expected to grow 10% and 7%, respectively, compared to 2020[117].

Stewart Information Services Corporation (NYSE:STC) Q4 2020 Earnings Conference Call February 11, 2021 8:30 AM ET Company Participants Nat Otis - Head, IR Fred Eppinger - CEO David Hisey - CFO Conference Call Participants Bose George - KBW John Campbell - Stephens, Inc. Geoffrey Dunn - Dowling & Partners Operator Hello and thank you for joining the Stewart Information Services Fourth Quarter and Fiscal Yearend 2020 Earnings Call. At this time, all participants are in a listen-only mode. Later, you’ll have a ...

Stewart Information Services Corporation (NYSE:STC) Q3 2020 Results Earnings Conference Call October 22, 2020 8:30 AM ET Company Participants Nat Otis - Head, Investor Relations Fred Eppinger - Chief Executive Officer David Hisey - Chief Financial Officer Conference Call Participants John Campbell - Stephens, Inc. Bose George - KBW Geoffrey Dunn - Dowling & Partners Operator Hello and thank you for joining the Stewart Information Services Third Quarter 2020 Earnings Call. At this time, all participants are ...

Stewart Information Services Corporation (NYSE:STC) Q2 2020 Earnings Conference Call July 23, 2020 10:00 AM ET Â Company Participants Nat Otis - Head of IR Fred Eppinger - CEO David Hisey - CFO Conference Call Participants Bose George - KBW Geoffrey Dunn - Dowling & Partners John Campbell - Stephens Inc. Operator Hello and thank you for joining the Stewart Information Services Second Quarter 2020 Earnings Call. At this time, all participants are in a listen-only mode. Later, you'll have an opportunity to as ...

Stewart Information Services Corporation (NYSE:STC) Q1 2020 Earnings Conference Call April 23, 2020 8:30 AM ET Company Participants Nat Otis - Head of Investor Relations Fred Eppinger - Chief Executive Officer David Hisey - Chief Financial Officer Conference Call Participants Bose George - KBW Mackenzie Aron - Zelman & Associates John Campbell - Stephens Inc. Geoffrey Dunn - Dowling & Partners Operator Hello and thank you for joining the Stewart Information Services Q1 2020 Earnings Call. At this time, all ...

Stewart Information Services Corporation (NYSE:STC) Q4 2019 Results Conference Call February 6, 2020 8:30 AM ET Company Participants Nat Otis - SVP, Finance and IR Fred Eppinger - CEO David Hisey - CFO Conference Call Participants Bose George - KBW Mackenzie Aron - Zelman & Associates Geoffrey Dunn - Dowling & Partners Carter Trent - Stephens DeForest Hinman - Walthausen & Co. Operator Good day. And welcome to the Stewart Information Services Fourth Quarter and Fiscal Year 2019 Earnings Conference Call and ...

Stewart Information Services Corporation (NYSE:STC) Q3 2019 Earnings Conference Call October 23, 2019 8:30 AM ET Company Participants Nat Otis - Director, Investor Relations Frederick H. Eppinger - CEO David Hisey - CFO Conference Call Participants George Bose - Keefe Bruyette & Woods John Campbell - Stephens, Inc. Geoffrey Dunn - Dowling & Partners Mackenzie Aron - Zelman & Associates, LLC DeForest Hinman - Walthausen & Company Operator Good day, and welcome to the Stewart Information Services' Third Quart ...