Stewart Information Services Earnings 2020-06-30

Balance Sheet	Income Statement	Cash Flow
Assets, Equity	Rev, G Profit, Net Income	Ops, Inv, Fin

Document

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 June 30, 2020


☐	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
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
1360 Post Oak Blvd.,	Suite 100
Houston,	Texas	77056
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (713) 625-8100

Securities registered pursuant to Section 12(b) of the Act:



Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $1 par value per share	STC	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.



☑	Large accelerated filer	☐	Non-accelerated filer	☐	Emerging growth company

☐	Accelerated filer	☐	Smaller reporting company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

On July 27, 2020, there were 23,700,919 outstanding shares of the issuer's Common Stock.

FORM 10-Q QUARTERLY REPORT

QUARTER ENDED JUNE 30, 2020

TABLE OF CONTENTS



Item		Page
	PART I – FINANCIAL INFORMATION

1.	Financial Statements	3

2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	18

3.	Quantitative and Qualitative Disclosures About Market Risk	29

4.	Controls and Procedures	30
	PART II – OTHER INFORMATION
1.	Legal Proceedings	30

1A.	Risk Factors	30

2.	Unregistered Sales of Equity Securities and Use of Proceeds	30

5.	Other Information	31

6.	Exhibits	31

	Signature	32

As used in this report, “we,” “us,” “our,” "Registrant," the “Company” and “Stewart” mean Stewart Information Services Corporation and our subsidiaries, unless the context indicates otherwise.

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED)



	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
	($000 omitted, except per share)
Revenues
Title revenues:
Direct operations	218,214		227,883		416,496		389,130
Agency operations	277,387		230,817		519,417		445,680
Ancillary services	11,155		7,798		16,616		22,080
Operating revenues	506,756		466,498		952,529		856,890
Investment income	4,285		5,155		9,503		9,879
Net realized and unrealized gains (losses)	5,064		422		(6,027	)	3,826
	516,105		472,075		956,005		870,595
Expenses
Amounts retained by agencies	228,720		191,091		428,086		367,586
Employee costs	137,528		139,896		273,180		269,151
Other operating expenses	74,613		86,051		146,473		163,207
Title losses and related claims	21,541		18,786		40,172		34,473
Depreciation and amortization	4,061		5,775		8,292		11,764
Interest	622		1,124		1,513		2,288
	467,085		442,723		897,716		848,469
Income before taxes and noncontrolling interests	49,020		29,352		58,289		22,126
Income tax expense	(11,340	)	(7,027	)	(13,235	)	(4,585	)
Net income	37,680		22,325		45,054		17,541
Less net income attributable to noncontrolling interests	3,534		3,019		5,731		5,001
Net income attributable to Stewart	34,146		19,306		39,323		12,540

Net income	37,680		22,325		45,054		17,541
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustments	4,194		2,475		(7,248	)	7,063
Change in net unrealized gains and losses on investments	16,715		5,371		14,135		14,382
Reclassification adjustment for realized gains and losses on investments	(21	)	50		(101	)	212
Other comprehensive income, net of taxes:	20,888		7,896		6,786		21,657
Comprehensive income	58,568		30,221		51,840		39,198
Less net income attributable to noncontrolling interests	3,534		3,019		5,731		5,001
Comprehensive income attributable to Stewart	55,034		27,202		46,109		34,197

Basic average shares outstanding (000)	23,656		23,614		23,647		23,605
Basic earnings per share attributable to Stewart	1.44		0.82		1.66		0.53
Diluted average shares outstanding (000)	23,756		23,758		23,757		23,750
Diluted earnings per share attributable to Stewart	1.44		0.81		1.66		0.53

See notes to condensed consolidated financial statements.

CONDENSED CONSOLIDATED BALANCE SHEETS



	As of June 30, 2020 (Unaudited)		As of December 31, 2019
	($000 omitted)
Assets
Cash and cash equivalents	310,806		330,609
Short-term investments	20,560		23,527
Investments in debt and equity securities, at fair value	645,347		645,039
Receivables:
Premiums from agencies	29,342		26,405
Trade and other	38,196		45,962
Income taxes	1,514		1,641
Notes	2,247		2,464
Allowance for uncollectible amounts	(4,442	)	(4,469	)
	66,857		72,003
Property and equipment:
Land	3,009		3,009
Buildings	22,433		20,519
Furniture and equipment	169,591		178,416
Accumulated depreciation	(145,187	)	(151,483	)
	49,846		50,461
Operating lease assets	100,353		99,028
Title plants, at cost	72,650		72,627
Investments on equity method basis	5,976		6,169
Goodwill	279,857		248,890
Intangible assets, net of amortization	3,843		4,623
Deferred tax assets	4,407		4,407
Other assets	39,732		35,402
	1,600,234		1,592,785
Liabilities
Notes payable	101,702		110,632
Accounts payable and accrued liabilities	108,394		126,779
Operating lease liabilities	113,292		113,843
Estimated title losses	456,025		459,053
Deferred tax liabilities	33,489		28,719
	812,902		839,026
Contingent liabilities and commitments
Stockholders’ equity
Common Stock ($1 par value) and additional paid-in capital	190,260		188,279
Retained earnings	589,424		564,392
Accumulated other comprehensive income (loss):
Net unrealized gains on debt securities investments	(20,275	)	10,328
Foreign currency translation adjustments	24,362		(13,027	)
Treasury stock – 352,161 common shares, at cost	(2,666	)	(2,666	)
Stockholders’ equity attributable to Stewart	781,105		747,306
Noncontrolling interests	6,227		6,453
Total stockholders’ equity (23,699,228 and 23,709,407 shares outstanding)	787,332		753,759
	1,600,234		1,592,785

See notes to condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)



	Six Months Ended June 30,
	2020		2019
	($000 omitted)
Reconciliation of net income to cash provided (used) by operating activities:
Net income	45,054		17,541
Add (deduct):
Depreciation and amortization	8,292		11,764
Provision for bad debt	106		462
Net realized and unrealized losses (gains)	6,027		(3,826	)
Amortization of net premium on debt securities investments	2,253		2,628
Payments for title losses less than (in excess of) provisions	1,236		(11,178	)
Adjustment for insurance recoveries of title losses	228		314
Decrease (increase) in receivables – net	8,792		(16,865	)
Increase in other assets – net	(3,743	)	(1,111	)
Decrease in accounts payable and other liabilities – net	(22,817	)	(11,588	)
Change in net deferred income taxes	2,277		1,185
Net income from equity investees	(1,356	)	(1,047	)
Dividends received from equity investees	1,549		1,220
Stock-based compensation expense	2,449		2,057
Other – net	(237	)	15
Cash provided (used) by operating activities	50,110		(8,429	)
Investing activities:
Proceeds from sales of investments in securities	15,499		9,952
Proceeds from matured investments in debt securities	33,096		35,884
Purchases of investments in securities	(50,856	)	(1,263	)
Net sales (purchases) of short-term investments	2,763		(58	)
Purchases of property and equipment, and real estate – net	(6,796	)	(7,889	)
Cash paid for acquisition of businesses	(33,417	)	—
Other – net	1,278		1,705
Cash (used) provided by investing activities	(38,433	)	38,331
Financing activities:
Proceeds from notes payable	404		20,506
Payments on notes payable	(9,334	)	(23,139	)
Distributions to noncontrolling interests	(5,957	)	(5,487	)
Repurchases of common stock	(468	)	(471	)
Cash dividends paid	(14,198	)	(14,167	)
Cash used by financing activities	(29,553	)	(22,758	)
Effects of changes in foreign currency exchange rates	(1,927	)	1,994
(Decrease) increase in cash and cash equivalents	(19,803	)	9,138
Cash and cash equivalents at beginning of period	330,609		192,067
Cash and cash equivalents at end of period	310,806		201,205

See notes to condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED)



	Common Stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive loss		Treasury stock		Noncontrolling interests		Total
	($000 omitted)
Six Months Ended June 30, 2020
Balance at December 31, 2019	24,062		164,217		564,392		(2,699	)	(2,666	)	6,453		753,759
Net income attributable to Stewart	—		—		39,323		—		—		—		39,323
Dividends on Common Stock ($0.60 per share)	—		—		(14,291	)	—		—		—		(14,291	)
Stock-based compensation	2		2,447		—		—		—		—		2,449
Stock repurchases	(12	)	(456	)	—		—		—		—		(468	)
Change in net unrealized gains and losses on investments, net of taxes	—		—		—		14,135		—		—		14,135
Reclassification adjustment for realized gains and losses on investments, net of taxes	—		—		—		(101	)	—		—		(101	)
Foreign currency translation adjustments, net of taxes	—		—		—		(7,248	)	—		—		(7,248	)
Net income attributable to noncontrolling interests	—		—		—		—		—		5,731		5,731
Distributions to noncontrolling interests	—		—		—		—		—		(5,957	)	(5,957	)
Balance at June 30, 2020	24,052		166,208		589,424		4,087		(2,666	)	6,227		787,332

Six Months Ended June 30, 2019
Balance at December 31, 2018	24,072		162,642		514,248		(24,771	)	(2,666	)	6,312		679,837
Net income attributable to Stewart	—		—		12,540		—		—		—		12,540
Dividends on Common Stock ($0.60 per share)	—		—		(14,321	)	—		—		—		(14,321	)
Stock-based compensation	4		2,053		—		—		—		—		2,057
Stock repurchases	(11	)	(460	)	—		—		—		—		(471	)
Change in net unrealized gains and losses on investments, net of taxes	—		—		—		14,382		—		—		14,382
Reclassification adjustment for realized gains and losses on investments, net of taxes, net of taxes	—		—		—		212		—		—		212
Foreign currency translation adjustments, net of taxes	—		—		—		7,063		—		—		7,063
Net income attributable to noncontrolling interests	—		—		—		—		—		5,001		5,001
Distributions to noncontrolling interests	—		—		—		—		—		(5,487	)	(5,487	)
Net effect of other changes in ownership	—		—		—		—		—		14		14
Balance at June 30, 2019	24,065		164,235		512,467		(3,114	)	(2,666	)	5,840		700,827

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED)



	Common Stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive loss		Treasury stock		Noncontrolling interests		Total
	($000 omitted)
Three Months Ended June 30, 2020
Balances at March 31, 2020	24,032		164,741		562,445		(16,801	)	(2,666	)	5,324		737,075
Net income attributable to Stewart	—		—		34,146		—		—		—		34,146
Dividends on Common Stock ($0.30 per share)	—		—		(7,167	)	—		—		—		(7,167	)
Stock-based compensation	22		1,540		—		—		—		—		1,562
Stock repurchases	(2	)	(73	)	—		—		—		—		(75	)
Change in net unrealized gains and losses on investments, net of taxes	—		—		—		16,715		—		—		16,715
Reclassification adjustment for realized gains and losses on investments, net of taxes	—		—		—		(21	)	—		—		(21	)
Foreign currency translation adjustments, net of taxes	—		—		—		4,194		—		—		4,194
Net income attributable to noncontrolling interests	—		—		—		—		—		3,534		3,534
Distributions to noncontrolling interests	—		—		—		—		—		(2,631	)	(2,631	)
Balance at June 30, 2020	24,052		166,208		589,424		4,087		(2,666	)	6,227		787,332

Three Months Ended June 30, 2019
Balances at March 31, 2019	24,052		163,087		500,335		(11,010	)	(2,666	)	5,106		678,904
Net income attributable to Stewart	—		—		19,306		—		—		—		19,306
Dividends on Common Stock ($0.30 per share)	—		—		(7,174	)	—		—		—		(7,174	)
Stock-based compensation	15		1,238		—		—		—		—		1,253
Stock repurchases	(2	)	(90	)	—		—		—		—		(92	)
Change in net unrealized gains and losses on investments, net of taxes	—		—		—		5,371		—		—		5,371
Reclassification adjustment for realized gains and losses on investments, net of taxes, net of taxes	—		—		—		50		—		—		50
Foreign currency translation adjustments, net of taxes	—		—		—		2,475		—		—		2,475
Net income attributable to noncontrolling interests	—		—		—		—		—		3,019		3,019
Distributions to noncontrolling interests	—		—		—		—		—		(2,310	)	(2,310	)
Net effect of other changes in ownership	—		—		—		—		—		25		25
Balance at June 30, 2019	24,065		164,235		512,467		(3,114	)	(2,666	)	5,840		700,827

See notes to condensed consolidated financial statements.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1

Interim financial statements. The financial information contained in this report for the three months ended June 30, 2020 and 2019, and as of June 30, 2020, is unaudited. This report should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 filed with the Securities and Exchange Commission on February 27, 2020 (2019 Form 10-K).

A. Management’s responsibility. The accompanying interim financial statements were prepared by management, who is responsible for their integrity and objectivity. These financial statements have been prepared in conformity with the United States (U.S.) generally accepted accounting principles (GAAP), including management’s best judgments and estimates. In the opinion of management, all adjustments necessary for a fair presentation of this information for all interim periods, consisting only of normal recurring accruals, have been made. The Company’s results of operations for interim periods are not necessarily indicative of results for a full year and actual results could differ.

B. Consolidation. The condensed 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 from 20% to 50% of the voting stock, are accounted for using the equity method.

C. Restrictions on cash and investments. The Company maintains investments in accordance with certain statutory requirements 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 $504.2 million and $483.4 million at June 30, 2020 and December 31, 2019, respectively. In addition, included within cash and cash equivalents are statutory reserve funds of approximately $39.4 million and $39.7 million at June 30, 2020 and December 31, 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.

D. Amendment to the line of credit facility. On May 7, 2020, in relation to its line of credit facility (as disclosed in Note 10 of the 2019 Form 10-K), the Company entered into an amended and restated credit agreement (Amended Credit Agreement), which increased the available unsecured line of credit commitment from $150.0 million to $200.0 million and extended the maturity of the line of credit to May 2025. The terms of the Amended Credit Agreement, which includes an additional $50.0 million that the Company can request, did not significantly change from the prior line of credit agreement.

E. 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. To date, various levels of restrictions are still in place across the U.S. to address the continuous 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. While the Company continues to close transactions on a daily basis, as it works through a pipeline of opened orders, there is near-term uncertainty regarding future real estate market transaction volumes and the impacts to the Company's results of 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.

NOTE 2

Revenues. The Company's operating revenues, summarized by type, are as follows:



	Three Months Ended June 30,		Six Months Ended June 30,
	2020	2019	2020	2019
	($000 omitted)
Title insurance premiums:
Direct	149,745	162,367	288,028	274,285
Agency	277,387	230,817	519,417	445,680
Escrow fees	41,433	36,611	74,519	61,904
Search, abstract and valuation services	22,829	19,248	38,906	42,187
Other revenues	15,362	17,455	31,659	32,834
	506,756	466,498	952,529	856,890

NOTE 3

Investments in debt and equity securities. The total fair values of the Company's investments in debt and equity securities are as follows:



	June 30, 2020	December 31, 2019
	($000 omitted)
Investments in:
Debt securities	612,891	605,721
Equity securities	32,456	39,318
	645,347	645,039

As of June 30, 2020 and December 31, 2019, the net unrealized investment gains relating to investments in equity securities held were $0.4 million and $6.9 million, respectively (refer to Note 5).

The amortized costs and fair values of investments in debt securities are as follows:



	June 30, 2020		December 31, 2019
	Amortized costs	Fair values	Amortized costs	Fair values
	($000 omitted)
Municipal	47,635	50,068	52,176	53,823
Corporate	301,299	319,972	299,074	309,142
Foreign	226,561	236,224	234,734	236,073
U.S. Treasury Bonds	6,559	6,627	6,664	6,683
	582,054	612,891	592,648	605,721

Foreign debt securities consist of Canadian government and corporate bonds, United Kingdom treasury and corporate bonds, and Mexican government bonds.

Gross unrealized gains and losses on investments in debt securities are as follows:



	June 30, 2020		December 31, 2019
	Gains	Losses	Gains	Losses
	($000 omitted)
Municipal	2,434	1	1,649	2
Corporate	18,926	253	10,091	23
Foreign	9,680	17	2,362	1,023
U.S. Treasury Bonds	92	24	60	41
	31,132	295	14,162	1,089

Debt securities as of June 30, 2020 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights):



	Amortized costs	Fair values
	($000 omitted)
In one year or less	69,702	70,474
After one year through five years	313,470	326,654
After five years through ten years	165,852	179,896
After ten years	33,030	35,867
	582,054	612,891

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 June 30, 2020, were:



	Less than 12 months		More than 12 months		Total
	Losses	Fair values	Losses	Fair values	Losses	Fair values
	($000 omitted)
Municipal	1	53	—	—	1	53
Corporate	253	7,618	—	—	253	7,618
Foreign	—	—	17	231	17	231
U.S. Treasury Bonds	—	—	24	1,022	24	1,022
	254	7,671	41

Price	38.50	EPS	4
Shares	24	P/E	9
MCap	916	P/FCF	9
Net Debt	-321	EBIT	128
TEV	595	TEV/EBIT	5
TTM 2019-09-30, in MM, except price, ratios

10-Q	2020-06-30	Filed 2020-08-03
10-Q	2020-03-31	Filed 2020-05-04
10-K	2019-12-31	Filed 2020-02-27
10-Q	2019-09-30	Filed 2019-11-07
10-Q	2019-06-30	Filed 2019-08-07
10-Q	2019-03-31	Filed 2019-05-01
10-K	2018-12-31	Filed 2019-02-28
10-Q	2018-09-30	Filed 2018-11-08
10-Q	2018-06-30	Filed 2018-08-06
10-Q	2018-03-31	Filed 2018-05-03
10-K	2017-12-31	Filed 2018-02-28
10-Q	2017-09-30	Filed 2017-11-07
10-Q	2017-06-30	Filed 2017-07-28
10-Q	2017-03-31	Filed 2017-04-28
10-K	2016-12-31	Filed 2017-02-27
10-Q	2016-09-30	Filed 2016-11-01
10-Q	2016-06-30	Filed 2016-07-29
10-Q	2016-03-31	Filed 2016-04-29
10-K	2015-12-31	Filed 2016-02-26
10-Q	2015-09-30	Filed 2015-11-03
10-Q	2015-06-30	Filed 2015-07-31
10-Q	2015-03-31	Filed 2015-05-04
10-K	2014-12-31	Filed 2015-02-27
10-Q	2014-09-30	Filed 2014-10-31
10-Q	2014-06-30	Filed 2014-08-01
10-Q	2014-03-31	Filed 2014-05-01
10-K	2013-12-31	Filed 2014-02-28
10-Q	2013-09-30	Filed 2013-11-06
10-Q	2013-06-30	Filed 2013-08-02
10-Q	2013-03-31	Filed 2013-05-03
10-K	2012-12-31	Filed 2013-03-06
10-Q	2012-09-30	Filed 2012-11-02
10-Q	2012-06-30	Filed 2012-08-03
10-Q	2012-03-31	Filed 2012-05-03
10-K	2011-12-31	Filed 2012-03-12
10-Q	2011-09-30	Filed 2011-11-02
10-Q	2011-06-30	Filed 2011-08-03
10-Q	2011-03-31	Filed 2011-05-04
10-K	2010-12-31	Filed 2011-03-03
10-Q	2010-09-30	Filed 2010-11-03
10-Q	2010-06-30	Filed 2010-08-03
10-Q	2010-03-31	Filed 2010-05-05
10-K	2009-12-31	Filed 2010-03-05

8-K	2020-09-01	Enter Agreement, Other Events, Exhibits
8-K	2020-08-31	Regulation FD, Exhibits
8-K	2020-08-12	Enter Agreement, Other Events, Exhibits
8-K	2020-07-22
8-K	2020-06-04
8-K	2020-06-01
8-K	2020-05-07
8-K	2020-04-22
8-K	2020-02-07
8-K	2020-02-05
8-K	2020-01-15
8-K	2019-12-12
8-K	2019-12-09
8-K	2019-10-22
8-K	2019-10-01
8-K	2019-09-20
8-K	2019-09-09
8-K	2019-09-08
8-K	2019-09-06
8-K	2019-07-25
8-K	2019-06-19
8-K	2019-06-10
8-K	2019-04-25
8-K	2019-03-11
8-K	2019-02-14
8-K	2019-01-31
8-K	2019-01-31
8-K	2018-12-31
8-K	2018-12-31
8-K	2018-11-09
8-K	2018-11-02
8-K	2018-10-25
8-K	2018-09-05
8-K	2018-08-24
8-K	2018-08-22
8-K	2018-07-18
8-K	2018-06-18
8-K	2018-05-31
8-K	2018-05-22
8-K	2018-05-03
8-K	2018-03-18
8-K	2018-02-22
8-K	2018-02-08
8-K	2017-12-29

EX-31.1	q2-2020ex311.htm
EX-31.2	q2-2020ex312.htm
EX-32.1	q2-2020ex321.htm
EX-32.2	q2-2020ex322.htm

STC 10Q Quarterly Report

Stewart Information Services Earnings 2020-06-30