Investors Title Co (NASDAQ: ITIC)

Investors Title Company, commonly known as ITIC, operates in the real estate industry, specifically in the business of issuing residential and commercial title insurance. The company's main business activities revolve around underwriting title insurance policies, providing tax-deferred real property exchange services, and offering management services to title insurance agencies. ITIC operates in various countries and regions, with its title insurance underwriting operations conducted through two wholly-owned subsidiaries, Investors Title Insurance Company (ITIC) and National Investors Title Insurance Company (NITIC), both of which are licensed to write title insurance in multiple states and are subject to regulation by state insurance authorities.

ITIC generates revenue through its title insurance segment, which is its primary business activity and accounts for the majority of its revenue. The company underwrites title insurance policies directly and through a network of agents, issuing policies based on a search of public records. These policies protect against losses resulting from title defects affecting real property and customarily arising prior to the policy date. In addition to title insurance, ITIC offers tax-deferred real property exchange services through its subsidiaries, Investors Title Exchange Corporation (ITEC) and Investors Title Accommodation Corporation (ITAC). These services enable individuals and companies to exchange properties without incurring capital gains taxes.

In terms of competitive positioning, ITIC competes with other title insurance companies, banks, attorneys, and other independently-owned, qualified intermediaries that offer exchange services. The title insurance industry is highly competitive, with the four largest title insurance companies maintaining greater than 80% of the market share. Key competitive factors in the title insurance industry include financial strength, timeliness and quality of service, price, and expertise in certain transactions. ITIC's management services segment provides consulting and management services to title insurance agencies, helping them to start and successfully operate their businesses.

The company's customer base is diverse and not concentrated, comprising real estate agents, attorneys, lenders, and individual property owners. The loss of any single customer would not have a material adverse effect on the company. ITIC's investment portfolio is managed internally and consists primarily of municipal and federal U.S. government securities, investment-grade corporate fixed maturity securities, and equity securities.

ITIC's primary brand names and/or trade names include Investors Title Insurance Company (ITIC), National Investors Title Insurance Company (NITIC), Investors Title Exchange Corporation (ITEC), Investors Title Accommodation Corporation (ITAC), and its management services segment. The company's title insurance policies are primarily offered under the ITIC and NITIC brands, while its exchange services are offered under the ITEC and ITAC brands.