Stewart Information Services Corp. reported its year-end and
fourth quarter 2012 earnings. The results are positive and according to
several financial analysts the company exceeded expectations.
“2012
was a turnaround year for Stewart on many fronts. Not only did we see
many of our strategic initiatives delivering profits, but our
streamlined management team was able to capitalize on an improving
market," said Matthew Morris, chief executive officer.
Title insurance segment stats
Revenue
from Stewart direct operations increased 15.5 percent year over year in
Q4 2012. Revenue from commercial transactions, which are included in
direct operations, increased 38.3 percent year over year to $35.4
million in the fourth quarter 2012. The company said commercial title
revenues industry-wide were strongly influenced in the fourth quarter by
the anticipated increase in capital gain tax rates in 2013.
International operating revenues, which are also included in direct
operations, increased 4.1 percent in the fourth quarter year over year.