Stewart Information Services Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Stewart Information Services Corp. has filed its 2023 annual report (10-K) detailing its financial performance and operations.</b>

AI Summary

STEWART INFORMATION SERVICES CORP (STC) filed a Annual Report (10-K) with the SEC on February 29, 2024. Stewart Information Services Corp. reported its 2023 Form 10-K filing on February 29, 2024. The company operates within the Title Insurance industry, SIC code 6361. Stewart Information Services Corp. is incorporated in Delaware with its principal business address in Houston, TX. The filing covers the fiscal year ending December 31, 2023. The report was filed as of February 29, 2024.

Why It Matters

For investors and stakeholders tracking STEWART INFORMATION SERVICES CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Stewart Information Services Corp.'s financial health, operational performance, and strategic direction for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial position, understand its business segments, and evaluate potential risks and opportunities.

Risk Assessment

Risk Level: medium — STEWART INFORMATION SERVICES CORP shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report. While it contains detailed financial information, it does not immediately signal any significant positive or negative deviations that would classify the risk as high without further analysis of the financial statements.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Stewart Information Services Corp.'s performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023 — Fiscal Year End (Fiscal year end)
• 1231 — Fiscal Year End (Fiscal year end)
• 2024-02-29 — Filed As Of Date (Filed as of date)
• 2023-01-01 — Period Start Date (Reporting period)
• 2023-12-31 — Period End Date (Reporting period)

Key Players & Entities

• STEWART INFORMATION SERVICES CORP (company) — Filer name
• STC (company) — Ticker symbol
• 10-K (document) — Form type
• 20231231 (date) — Conformed period of report
• 20240229 (date) — Filed as of date
• 741677330 (identifier) — IRS number
• DE (location) — State of incorporation
• HOUSTON (location) — City

FAQ

Industry Context

Stewart Information Services Corp. operates in the title insurance industry, providing title insurance and settlement services to the real estate and mortgage industries.

Regulatory Implications

The company is subject to various state and federal regulations governing the title insurance and real estate services sectors.

What Investors Should Do

1. Analyze the revenue breakdown by segment (TitleDirectOperations, TitleAgencyOperations, RealEstateSolutionsAndOther) for fiscal year 2023.
2. Examine the company's balance sheet for key financial metrics such as total assets, total debt, and cash position as of December 31, 2023.
3. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations for insights into the company's performance drivers and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-29: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted for the 2023 10-K. Comparative data from the previous filing (2022 10-K) is not yet available in this extract.

Key Financial Figures

• $1 — ction 12(b) of the Act: Common Stock, $1 par value per share STC New York Stock

Filing Documents

• stc-20231231.htm (10-K) — 1898KB
• ex41descriptionofsecuritie.htm (EX-4.1) — 18KB
• ex107employmentagreement_t.htm (EX-10.7) — 161KB
• ex211subsidiaries12312023.htm (EX-21.1) — 87KB
• ex231kpmgconsent12312023.htm (EX-23.1) — 2KB
• ex31112312023.htm (EX-31.1) — 12KB
• ex31212312023.htm (EX-31.2) — 12KB
• ex32112312023.htm (EX-32.1) — 5KB
• ex32212312023.htm (EX-32.2) — 5KB
• ex971compensationrecoupmen.htm (EX-97.1) — 47KB
• stc-20231231_g1.jpg (GRAPHIC) — 109KB
• 0000094344-24-000005.txt (&nbsp;) — 11225KB
• stc-20231231.xsd (EX-101.SCH) — 67KB
• stc-20231231_cal.xml (EX-101.CAL) — 143KB
• stc-20231231_def.xml (EX-101.DEF) — 344KB
• stc-20231231_lab.xml (EX-101.LAB) — 892KB
• stc-20231231_pre.xml (EX-101.PRE) — 619KB
• stc-20231231_htm.xml (XML) — 1572KB

Signatures

Signatures 37 As used in this report, "we," "us," "our," the "Company" and "Stewart" mean Stewart Information Services Corporation and our subsidiaries, unless the context indicates otherwise. PART I

Business

Item 1. Business Founded in 1893, Stewart Information Services Corporation (NYSE:STC) (Stewart) is a customer-focused, global title insurance and real estate services company offering products and services through our direct operations, network of approved agencies and other companies within the Stewart family. One of the largest title companies in the industry, Stewart provides services to homebuyers and sellers, residential and commercial real estate professionals, mortgage lenders and servicers, title agencies, real estate attorneys and home builders. Stewart also provides appraisal management services, online notarization and closing services, search and valuation services, credit and real estate data services, home and personal insurance services, tax-deferred exchanges, and technology services to streamline the real estate process. Stewart is headquartered in Houston, Texas and operates primarily throughout the United States (U.S.) and has regional offices in Australia, Canada, the Caribbean, Europe, Mexico and the United Kingdom. Our companies are industry leaders in the spaces they operate in and while each is unique in service offerings, they all share a common belief in providing highest level of services through team focus and customer-centric mindset. For more information on various Stewart companies and brands, refer to our website, www.stewart.com/en/about-stewart/stewart-brands.html. We currently report our business in three segments: title insurance and related services (title), real estate solutions, and corporate and other . Refer to Note 18 to our audited consolidated financial statements and Item 7 – Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) for financial information related to our segments. Title Segment Title insurance and related services include the functions of searching, examining, closing and insuring the condition of the title to real property. The title segment also includes ho

View Full Filing

View this 10-K filing on SEC EDGAR