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Investors Title INNOVATIVE BY INSTINCT INVESTORS TITLE COMPANY ANNOUNCES RECORD SECOND QUARTER 2021 FINANCIAL RESULTS FOR IMMEDIATE RELEASE : Contact : Elizabeth B. Lewter August 4 , 2021 Telephone : ( 919 ) 968-2200 Nasdaq Symbol : ITIC Chapel Hill , NC - Investors Title Company today announced results for the second quarter ended June 30 , 2021. The Company reported net income of $ 19.8 million , or $ 10.42 per diluted share , compared to $ 14.5 million , or $ 7.65 per diluted share , for the prior year period . The Company set all - time quarterly records for total revenues , net premiums written and net income . Revenues for the quarter increased 37.6 % to $ 85.0 million , compared with $ 61.7 million for the prior year quarter . Net premiums written increased 42.2 % versus the prior year period , as lower average interest rates and ongoing economic recovery continued to drive strong levels of refinance activity and home sales . Higher transaction volumes drove a 72.8 % increase in escrow and other title - related fees . Non - title services increased 21.9 % due primarily to higher levels of property exchange transaction volumes and higher income levels from management services . Other investment income increased $ 957,000 due to earnings from partnership investments . Changes in the estimated fair value of equity security investments resulted in a benefit of $ 4.8 million , which was $ 3.1 million lower than the prior year quarter , as equity markets continued to rally following the dip from initial impacts of the COVID - 19 pandemic in the prior year period . Other income increased $ 4.0 million due to a gain on the sale of property . Operating expenses increased 36.2 % , as commissions to agents increased commensurate with the increase in agent premium volume . Notwithstanding higher premium volumes , claims expense decreased 28.0 % due to improved incurred claims experience and higher levels of favorable loss development related to prior policy years . Personnel costs were 29.9 % higher than the prior year period due to staffing additions in support of strategic growth initiatives and volume increases . Higher premium volumes and ongoing technology initiatives drove the increase in other operating expenses . Income before income taxes increased 41.1 % to $ 25.3 million for the current quarter versus $ 17.9 million in the prior year period . Excluding the impact of changes in the estimated fair value of equity security investments , income before income taxes ( non - GAAP ) increased 105.6 % to $ 20.5 million for the