Estimated title losses. A summary of estimated title losses for the six months ended June 30 is as follows: | | | | | | | | | | | | | 2026 | | 2025 | | (in $ thousands) | | Balances at January 1 | 524,473 | | | 511,534 | | | Provisions: | | | | | Current year | 39,353 | | | 38,401 | | | Previous policy years | 1,155 | | | 755 | | | Total provisions | 40,508 | | | 39,156 | | | Payments, net of recoveries: | | | | | Current year | (5,956) | | | (7,661) | | | Previous policy years | (37,166) | | | (27,862) | | | Total payments, net of recoveries | (43,122) | | | (35,523) | | | | | | | Effects of changes in foreign currency exchange rates | (2,640) | | | 7,918 | | | Balances at June 30 | 519,219 | | | 523,085 | | | Loss ratios as a percentage of title operating revenues: | | | | | Current year provisions | 3.1 | % | | 3.5 | % | | Total provisions | 3.1 | % | | 3.6 | % |
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