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Investors Title Company reports developments tied to its title insurance underwriting, tax-deferred like-kind exchange services, and investment management operations. The company issues and underwrites residential and commercial title insurance policies through Investors Title Insurance Company and National Investors Title Insurance Company, and provides exchange services through Investors Title Exchange Corporation and Investors Title Accommodation Corporation.
Recurring updates include quarterly and annual results, net premiums written, escrow and title-related fees, agent commissions, claims provisions, investment gains and losses, non-title services revenue, dividend declarations, and credit-rating actions for its title insurance subsidiaries.
Investors Title Company reported a significant increase in third-quarter results for 2020, achieving a net income of $15.3 million or $8.07 per diluted share, compared to $8.0 million or $4.20 per diluted share in the previous year. Total revenues surged 41.1% to $67.6 million, driven by a 42.4% increase in net premiums written. However, revenue from non-title services fell 23.0%. The company experienced operating expenses rising 28.6% due to higher premiums and inflation. For nine months, net income rose 13.5% to $22.8 million.