Investors Title Company is a holding company engaged primarily in title insurance underwriting and tax-deferred real property exchange services. Through its title insurance subsidiaries, the company underwrites residential and commercial title insurance policies for property owners and mortgagees, protecting against losses from title defects, through a network of agents and direct issuance, generating one-time premium revenue at transaction closing; the company operates as a primary insurer across multiple states and also assumes reinsurance from other carriers. The company additionally provides tax-deferred exchange services under IRC Section 1031 through qualified intermediaries and accommodation titleholder services, earning transaction fees and interest on client deposits, as well as management services to title agencies and investment/trust services. Revenues are subject to real estate market cycles tied to home sales, mortgage lending, and economic conditions, and the company generates supplementary income from investments in government and corporate securities and equities.