Item 9A. Controls and Procedures
ITEM 9A. CONTROLS AND PROCEDURES
Disclosure Controls and Procedures
The Company’s disclosure controls and procedures are designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified by the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed in such reports is accumulated and communicated to the Company’s management as appropriate to allow timely decisions regarding required disclosure.
No system of controls, no matter how well designed and operated, can provide absolute assurance that the objectives of the system of controls are met, and no evaluation of controls can provide absolute assurance that the system of controls has operated effectively in all cases. The Company’s disclosure controls and procedures, however, are designed to provide reasonable assurance that the objectives of disclosure controls and procedures are met.
Pursuant to Rule 13a-15(b) under the Exchange Act, an evaluation was performed under the supervision and with the participation of the Company’s management, including its Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures. Based on that evaluation, the Company’s Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective as of December 31, 2025 to provide reasonable assurance that the objectives of disclosure controls and procedures are met.
Changes in Internal Control Over Financial Reporting
During the quarter ended December 31, 2025, there were no changes in the Company’s internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.
Reports of Management and Independent Registered Public Accounting Firm on Internal Control Over Financial Reporting
Management has assessed, and the Company’s independent registered public accounting firm, Forvis Mazars, LLP, has audited, the Company’s internal control over financial reporting as of December 31, 2025. The reports of management and Forvis Mazars, LLP thereon are included in Item 8 of this Annual Report on Form 10-K and are incorporated by reference herein.
ITEM 9B. OTHER INFORMATION
During the three-month period ended December 31, 2025, none of the Company's directors or executive officers adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408 of Regulation S-K .
ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS
Not applicable.
76
PART III
ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
The information called for by this item is incorporated by reference to the material under the captions “Proposals Requiring Your Vote – Proposal 1 – Election of Directors,” “Corporate Governance – Board of Directors and Committees – The Audit Committee,” “Corporate Governance – Code of Business Conduct and Ethics” and “Corporate Governance – Insider Trading Policy” in the Company’s definitive Proxy Statement for the Annual Meeting of Shareholders to be held on May 20, 2026, to be filed by the Company with the Securities and Exchange Commission (“SEC”) pursuant to Regulation 14A within 120 days after the year ended December 31, 2025 (the “2026 Proxy Statement”). Other information with respect to the executive officers of the Company is included at the end of Part I of this Annual Report on Form 10-K under the separate caption “Executive Officers of the Company.”
ITEM 11. EXECUTIVE COMPENSATION
The information called for by this item is set forth under the captions “Executive Compensation” and “Compensation of Directors” in the 2026 Proxy Statement and is incorporated by reference in this Annual Report on Form 10-K.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED SHAREHOLDER MATTERS
The information pertaining to securities ownership of certain beneficial owners and management is set forth under the caption “Stock Ownership of Certain Beneficial Owners and Management” in the 2026 Proxy Statement and is incorporated by reference in this Annual Report on Form 10-K.
The following table provides information about the Company’s compensation plans under which equity securities are authorized for issuance as of December 31, 2025. The Company does not have any equity compensation plans that have not been approved by its shareholders.
Equity Compensation Plan Information (unrounded)
Plan Category
Number of Securities
to be Issued Upon
Exercise of
Outstanding Options,
Warrants and Rights Weighted Average
Exercise Price of
Outstanding Options,
Warrants and Rights
Number of
Securities
Remaining
Available for Future
Issuance Under
Equity
Compensation Plans
Equity compensation plans approved by shareholders 24,175 (a) $ 170.67 204,750 (b)
Equity compensation plans not approved by shareholders — — —
Total 24,175 $ 170.67 204,750
(a) Includes 24,175 shares issuable upon exercise of SARs under the 2019 Stock Appreciation Rights Plan (the “2019 Plan”).
(b) Includes shares remaining for future issuance under the 2019 Plan.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
The information called for by this item is set forth under the captions “Certain Relationships and Related Transactions,” “Corporate Governance – Independent Directors” and “Proposals Requiring Your Vote – Proposal 1 – Election of Directors” set forth in the 2026 Proxy Statement and is incorporated by reference in this Annual Report on Form 10-K.
ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES
The information pertaining to principal accountant fees and services is set forth under the caption “Proposals Requiring Your Vote – Proposal 2 – Ratification of Appointment of Independent Registered Public Accounting Firm” in the 2026 Proxy Statement and is incorporated by reference in this Annual Report on Form 10-K.
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PART IV
ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
(a)(1) Consolidated Financial Statements
The following financial statements are filed under Item 8 of this Annual Report on Form 10-K:
Report of Independent Registered Public Accounting Firm (PCAOB ID: 686 )
Management’s Report on Internal Control Over Financial Reporting
Report of Independent Registered Public Accounting Firm
Consolidated Balance Sheets as of December 31, 2025 and 2024
Consolidated Statements of Operations for the Years Ended December 31, 2025, 2024, and 2023
Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2025, 2024, and 2023
Consolidated Statements of Shareholders’ Equity for the Years Ended December 31, 2025, 2024, and 2023
Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024, and 2023
Notes to Consolidated Financial Statements
(a)(2) Financial Statement Schedules
The following is a list of financial statement schedules filed as part of this Form 10-K Annual Report:
Schedule Number Description
I Summary of Investments – Other Than Investments in Related Parties
II Condensed Financial Information of Registrant
III Supplementary Insurance Information
IV Reinsurance
V Valuation and Qualifying Accounts
All other schedules are omitted, as the required information either is not applicable, is not required, or is presented in the accompanying Consolidated Financial Statements or the notes thereto.
(a)(3) Exhibits
The following exhibits are filed as part of this Annual Report on Form 10-K are incorporated herein by reference.
78
INDEX TO EXHIBITS
Exhibit
Number
Description Location
3.1(a) Articles of Incorporation dated January 22, 1973
Incorporated by reference to Exhibit 4.1 to Form S-8 filed August 10, 2009, File No. 333-161209
3.1(b) Articles of Amendment to the Articles of Incorporation, dated February 8, 1973
Incorporated by reference to Exhibit 4.2 to Form S-8 filed August 10, 2009, File No. 333-161209
3.1(c) Articles of Amendment to Articles of Incorporation, dated May 14, 1987
Incorporated by reference to Exhibit 4.3 to Form S-8 filed August 10, 2009, File No. 333-161209
3.1(d) Articles of Amendment to Articles of Incorporation, dated May 15, 2002
Incorporated by reference to Exhibit 3.3 to Form 10-Q for the quarter ended June 30, 2002, File No. 11774
3.1(e) Articles of Amendment to Articles of Incorporation, dated November 12, 2002
Incorporated by reference to Exhibit 3.4 to Form 10-Q for the quarter ended March 31, 2003, File No. 11774
3.1(f) Articles of Amendment to Articles of Incorporation, dated October 31, 2012
Incorporated by reference to Exhibit 3.1 to Form 10-Q filed on October 31, 2012, File No. 11774
3.2 Amended and Restated Bylaws, dated November 6, 2023
Incorporated by reference to Exhibit 3.1 to Form 10-Q filed on November 8, 2023, File No. 11774
4.1 Description of the Company’s Securities
Incorporated by reference to Exhibit 4.1 to Form 10-K for the year ended December 31, 2019, File No. 11774
4.2 Amended and Restated Rights Agreement, dated September 30, 2022, between the Company and Broadridge Corporate Issuer Solutions, Inc., as Rights Agent
Incorporated by reference to Exhibit 4.1 to Form 8-K filed on October 3, 2022, File No. 11774
10.1* Amended and Restated Nonqualified Deferred Compensation Plan effective January 1, 2009
Incorporated by reference to Exhibit 10.13 to Form 10-K for the year ended December 31, 2008, File No. 11774
10.2* Amended and Restated Nonqualified Supplemental Retirement Benefit Plan effective January 1, 2009
Incorporated by reference to Exhibit 10.14 to Form 10-K for the year ended December 31, 2008, File No. 11774
10.3(a)* 2019 Stock Appreciation Rights Plan effective March 11, 2019
Incorporated by reference to Exhibit 99.1 to the Registration Statement on Form S-8 filed on May 15, 2019, File No. 333-231486
10.3(b)* Form of Stock Appreciation Rights Agreement under 2019 Stock Appreciation Right Plan
Incorporated by reference to Exhibit 10.2 to Form 8-K filed on May 16, 2019, File No. 11774
10.4* Summary of Non-Employee Director Compensation
Incorporated by reference to Exhibit 10.11 to Form 10-K for the year ended December 31, 2019, File No. 11774
10.5* Second Amended and Restated Employment Agreement, by and between Investors Title Insurance Company and J. Allen Fine, dated May 4, 2022
Incorporated by reference to Exhibit 10.1 to Form 10-Q for the quarter ended March 31, 2022, File No. 11774
10.6* Second Amended and Restated Employment Agreement, by and between Investors Title Insurance Company and James A. Fine, Jr., dated May 4, 2022
Incorporated by reference to Exhibit 10.2 to Form 10-Q for the quarter ended March 31, 2022, File No. 11774
10.7* Second Amended and Restated Employment Agreement, by and between Investors Title Insurance Company and W. Morris Fine, Jr., dated May 4, 2022
Incorporated by reference to Exhibit 10.3 to Form 10-Q for the quarter ended March 31, 2022, File No. 11774
10.8* Amended and Restated Death Benefit Plan Agreement, by and between Investors Title Insurance Company and J. Allen Fine, dated May 4, 2022
Incorporated by reference to Exhibit 10.4 to Form 10-Q for the quarter ended March 31, 2022, File No. 11774
79
10.9* Amended and Restated Death Benefit Plan Agreement, by and between Investors Title Insurance Company and James A. Fine, Jr., dated May 4, 2022
Incorporated by reference to Exhibit 10.5 to Form 10-Q for the quarter ended March 31, 2022, File No. 11774
10.10* Amended and Restated Death Benefit Plan Agreement, by and between Investors Title Insurance Company and W. Morris Fine, Jr., dated May 4, 2022
Incorporated by reference to Exhibit 10.6 to Form 10-Q for the quarter ended March 31, 2022, File No. 11774
19 Insider Trading and Tipping Policy
Filed herewith
21 Subsidiaries of Registrant
Filed herewith
23 Consent of Independent Registered Public Accounting Firm
Filed herewith
31.1 Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
Filed herewith
31.2 Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
Filed herewith
32 Certifications of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
Furnished herewith
97 Policy for the Recovery of Erroneously Awarded Compensation
Incorporated by reference to Exhibit 97 to Form 10-K for the year ended December 31, 2023, File No. 11774
101.INS XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document) Filed herewith
101.SCH XBRL Taxonomy Extension Schema Document Filed herewith
101.CAL XBRL Taxonomy Extension Calculation Linkbase Document Filed herewith
101.LAB XBRL Taxonomy Extension Label Linkbase Document Filed herewith
101.PRE XBRL Taxonomy Extension Presentation Linkbase Document Filed herewith
101.DEF XBRL Taxonomy Extension Definition Linkbase Document Filed herewith
104 Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) Filed herewith
* Management contract or compensatory plan or arrangement
80
SCHEDULE I
INVESTORS TITLE COMPANY AND SUBSIDIARIES
SUMMARY OF INVESTMENTS – OTHER THAN INVESTMENTS IN RELATED PARTIES
AS OF DECEMBER 31, 2025
Type of Investment (in thousands) Cost (1) Market Value Amount at which shown in the Balance Sheet (3)
Fixed maturity securities:
Government obligations
$ — $ — $ —
General obligations of U.S. states, territories and political subdivisions 11,590 11,640 11,640
Special revenue issuer obligations of U.S. states, territories and political subdivisions
6,656 6,669 6,669
Public utilities 4,963 4,980 4,980
Corporate debt securities 93,643 94,827 94,827
Total fixed maturity securities 116,852 118,116 118,116
Equity securities:
Common stocks:
Public utilities 176 303 303
Banks, trusts and insurance companies 1,631 3,125 3,125
Industrial, miscellaneous and all other 25,726 35,248 35,248
Technology 1,042 2,805 2,805
Total equity securities 28,575 41,481 41,481
Other investments:
Short-term investments 68,763 68,763 68,763
Other investments (2) 16,610 16,610 16,610
Total other investments 85,373 85,373 85,373
Total investments (2) $ 230,800 $ 244,970 $ 244,970
(1) Fixed maturity securities are shown at amortized cost and equity securities are shown at original cost.
(2) The above summary of investments does not include investments in related parties accounted for under the equity method or the measurement alternative methods of accounting in the amount of $ 6,836 .
(3) All fixed maturity securities presented are classified as available-for-sale and shown at estimated fair value. Equity securities are shown at fair value.
81
SCHEDULE II
INVESTORS TITLE COMPANY (PARENT COMPANY)
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
BALANCE SHEETS
AS OF DECEMBER 31, 2025 AND 2024
(in thousands) 2025 2024
Assets
Cash and cash equivalents $ 632 $ 1,252
Fixed maturity securities, available-for-sale, at fair value
50,067 49,768
Equity securities, at fair value
— 267
Short-term investments
28,817 26,071
Investments in affiliated companies
174,713 160,469
Other investments
8,394 8,798
Prepaid expenses and other receivables 2,109 1,571
Current income taxes recoverable 3,143 3,210
Accrued interest and dividends 558 599
Property, net 1,708 1,688
Total Assets $ 270,141 $ 253,693
Liabilities and Shareholders’ Equity
Liabilities:
Accounts payable and accrued liabilities $ 1,039 $ 1,146
Deferred income taxes, net 802 774
Total liabilities 1,841 1,920
Shareholders’ Equity:
Preferred stock ( 1,000 authorized shares; no shares issued)
— —
Common stock – no par value ( 10,000 authorized shares; 1,888 and 1,886 shares issued and outstanding as of December 31, 2025 and 2024, respectively, excluding in each period 292 shares of common stock held by the Company)
— —
Retained earnings 267,209 251,418
Accumulated other comprehensive income 1,091 355
Total shareholders’ equity 268,300 251,773
Total Liabilities and Shareholders’ Equity $ 270,141 $ 253,693
Refer to the Notes to Condensed Financial Statements.
82
SCHEDULE II
INVESTORS TITLE COMPANY (PARENT COMPANY)
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2025, 2024, AND 2023
(in thousands, except per share amounts) 2025 2024 2023
Revenues:
Interest and dividends $ 3,697 $ 4,658 $ 3,671
Net investment losses ( 295 ) ( 230 ) ( 142 )
Rental income 741 870 922
Gains on disposals of property — 184 194
Miscellaneous (loss) income ( 50 ) 7 ( 36 )
Total Revenues 4,093 5,489 4,609
Operating Expenses:
Personnel expenses 1,065 1,020 874
Office and technology expenses 552 577 628
Other expenses 3,502 935 979
Total Operating Expenses 5,119 2,532 2,481
Equity in Net Income of Affiliated Companies 36,318 29,525 19,670
Income before Income Taxes 35,292 32,482 21,798
Provision for Income Taxes 112 1,409 112
Net Income $ 35,180 $ 31,073 $ 21,686
Basic Earnings per Common Share $ 18.64 $ 16.48 $ 11.45
Weighted Average Shares Outstanding – Basic 1,887 1,885 1,893
Diluted Earnings per Common Share $ 18.57 $ 16.43 $ 11.45
Weighted Average Shares Outstanding – Diluted 1,895 1,892 1,893
Refer to the Notes to Condensed Financial Statements.
83
SCHEDULE II
INVESTORS TITLE COMPANY (PARENT COMPANY)
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2025, 2024, AND 2023
(in thousands) 2025 2024 2023
Operating Activities
Net income $ 35,180 $ 31,073 $ 21,686
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Equity in net earnings of subsidiaries ( 36,318 ) ( 29,525 ) ( 19,670 )
Depreciation 98 131 126
Accretion of investments, net ( 812 ) ( 2,531 ) ( 2,924 )
Share-based compensation expense related to stock appreciation rights 543 393 425
Net gains on disposal of property — ( 184 ) ( 194 )
Net investment (gains) losses on securities ( 30 ) ( 79 ) 142
Net realized losses on other investments 325 309 21
Net earnings on other investments 4 — —
(Benefit) provision for deferred income taxes ( 5 ) 515 ( 433 )
(Increase) decrease in receivables ( 538 ) 3,325 ( 1,652 )
Decrease (increase) in current income taxes recoverable 67 ( 1,917 ) 1,506
Decrease (increase) in other assets 41 ( 407 ) 3,204
Decrease in accounts payable and accrued liabilities ( 107 ) ( 696 ) ( 1,326 )
Net cash (used in) provided by operating activities ( 1,552 ) 407 911
Investing Activities
Dividends received from subsidiaries 30,883 18,137 32,478
Purchases of fixed maturity and equity securities ( 40,266 ) ( 51,146 ) ( 1,203 )
Purchases of short-term securities ( 45,252 ) ( 64,448 ) ( 127,789 )
Purchases of and net earnings from other investments — ( 5,001 ) ( 81 )
Proceeds from sales and maturities of fixed maturity and equity securities 41,027 5,220 2,892
Proceeds from sales and maturities of short-term securities 42,701 124,472 107,083
Proceeds from sales and distributions of other investments 75 685 2
Purchases of property ( 118 ) ( 72 ) ( 9 )
Proceeds from disposals of property — — 206
Net cash provided by investing activities 29,050 27,847 13,579
Financing Activities
Repurchases of common stock — ( 1,099 ) ( 959 )
Capital contribution to subsidiaries ( 8,186 ) ( 447 ) ( 1,524 )
Dividends paid ( 19,932 ) ( 29,865 ) ( 11,048 )
Net cash used in financing activities ( 28,118 ) ( 31,411 ) ( 13,531 )
Net (Decrease) Increase in Cash and Cash Equivalents ( 620 ) ( 3,157 ) 959
Cash and Cash Equivalents, Beginning of Period 1,252 4,409 3,450
Cash and Cash Equivalents, End of Period $ 632 $ 1,252 $ 4,409
Supplemental Disclosures:
Income tax payments, net $ 7,900 $ 6,273 $ 8,320
Non cash 1031 exchange proceeds receivable $ — $ — $ ( 2,589 )
Refer to the Notes to Condensed Financial Statements.
84
SCHEDULE II
INVESTORS TITLE COMPANY (PARENT COMPANY)
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2025, 2024, AND 2023
(in thousands)
1. The accompanying Condensed Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto of Investors Title Company and Subsidiaries.
2. Cash dividends paid to Investors Title Company by its wholly owned subsidiaries were as follows:
Subsidiaries 2025 2024 2023
Investors Title Insurance Company, net* $ 17,291 $ 8,952 $ 25,478
Investors Title Exchange Corporation 10,200 6,700 5,800
Investors Title Accommodation Corporation 500 — —
Investors Trust Company 1,000 500 500
Investors Title Commercial Agency, LLC 1,200 1,600 —
National Investors Holdings, LLC 692 385 700
Total $ 30,883 $ 18,137 $ 32,478
* Total dividends of $ 20,371 , $ 13,572 , and $ 27,181 paid to the Parent Company in 2025, 2024, and 2023, respectively, netted with dividends of $ 3,080 , $ 4,620 , and $ 1,703 received from the Parent Company in 2025, 2024, and 2023, respectively.
85
SCHEDULE III
INVESTORS TITLE COMPANY AND SUBSIDIARIES
SUPPLEMENTARY INSURANCE INFORMATION
FOR THE YEARS ENDED DECEMBER 31, 2025, 2024, AND 2023
Segment Deferred Policy Acquisition Cost Future Policy Benefits, Losses, Claims and Loss Expenses Unearned Premiums Other Policy Claims and Benefits Payable Premium Revenue Net Investment Income (Loss) Benefits, Claims, Losses and Settlement Expenses Amortization of Deferred Policy Acquisition Costs Other Operating Expenses Premiums Written
Year Ended December 31, 2025 (in thousands)
Title
Insurance $ — $ 38,092 $ — $ 1,217 $ 212,642 $ 7,892 $ 4,607 $ — $ 207,035 N/A
All Other — — — — — 3,785 — — 16,564 N/A
$ — $ 38,092 $ — $ 1,217 $ 212,642 $ 11,677 $ 4,607 $ — $ 223,599 N/A
Year Ended December 31, 2024 (in thousands)
Title
Insurance $ — $ 37,060 $ — $ 774 $ 204,264 $ 7,786 $ 4,530 $ — $ 202,659 N/A
All Other — — — — — 5,153 — — 11,646 N/A
$ — $ 37,060 $ — $ 774 $ 204,264 $ 12,939 $ 4,530 $ — $ 214,305 N/A
Year Ended December 31, 2023 (in thousands)
Title
Insurance $ — $ 37,147 $ — $ 804 $ 171,158 $ ( 2,926 ) $ 4,762 $ — $ 182,571 N/A
All Other — — — — — 3,550 — — 11,187 N/A
$ — $ 37,147 $ — $ 804 $ 171,158 $ 624 $ 4,762 $ — $ 193,758 N/A
86
SCHEDULE IV
INVESTORS TITLE COMPANY AND SUBSIDIARIES
REINSURANCE
FOR THE YEARS ENDED DECEMBER 31, 2025, 2024, AND 2023
Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentages of Amount Assumed to Net
Year Ended December 31, 2025 (in thousands)
Title Insurance $ 212,893 $ 251 $ — $ 212,642 — %
Year Ended December 31, 2024 (in thousands)
Title Insurance $ 204,353 $ 89 $ — $ 204,264 — %
Year Ended December 31, 2023 (in thousands)
Title Insurance $ 171,512 $ 354 $ — $ 171,158 — %
87
SCHEDULE V
INVESTORS TITLE COMPANY AND SUBSIDIARIES
VALUATION AND QUALIFYING ACCOUNTS
FOR THE YEARS ENDED DECEMBER 31, 2025, 2024, AND 2023
Description Balance at
Beginning of
Period Additions Charged to Costs and Expenses Additions Charged to Other Accounts – Describe Deductions – Describe Balance at
End of
Period
2025 (in thousands)
Premiums receivable:
Valuation provision $ 28 $ 720 $ — $ ( 722 ) (a) $ 26
Reserves for claims $ 37,060 $ 4,607 $ — $ ( 3,575 ) (b) $ 38,092
2024 (in thousands)
Premiums receivable:
Valuation provision $ 88 $ 158 $ — $ ( 218 ) (a) $ 28
Reserves for claims $ 37,147 $ 4,530 $ — $ ( 4,617 ) (b) $ 37,060
2023 (in thousands)
Premiums receivable:
Valuation provision $ 159 $ 773 $ — $ ( 844 ) (a) $ 88
Reserves for claims $ 37,192 $ 4,762 $ — $ ( 4,807 ) (b) $ 37,147
(a) Canceled premiums
(b) Payments of claims, net of recoveries
88
ITEM 16. FORM 10-K SUMMARY
None.
89
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
INVESTORS TITLE COMPANY
(Registrant)
By: /s/ J. Allen Fine
J. Allen Fine, Chairman and Chief Executive
Officer (Principal Executive Officer)
March 16, 2026
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities indicated on the 16th day of March, 2026.
/s/ J. Allen Fine /s/ James A. Fine, Jr.
J. Allen Fine, Chairman of the Board and James A. Fine, Jr., President, Treasurer, Chief
Chief Executive Officer Financial Officer, Chief Accounting Officer and
(Principal Executive Officer) Director (Principal Financial Officer and
Principal Accounting Officer)
/s/ W. Morris Fine /s/ Tammy F. Coley
W. Morris Fine, Executive Vice President, Tammy F. Coley, Director
Secretary and Director
/s/ Joseph B. Dempster, Jr. /s/ Richard M. Hutson II
Joseph B. Dempster, Jr., Director Richard M. Hutson II, Director
/s/ Elton C. Parker, Jr. /s/ James E. Scott
Elton C. Parker, Jr., Director James E. Scott, Director
/s/ James H. Speed, Jr.
James H. Speed, Jr., Director
90