Investors Title Co., a Chapel Hill-based insurance company reported a decline in its fourth-quarter results due to higher losses in its equity investments and lower mortgage refinancing activity

The net income a decreased $135,000, or 7 cents per diluted share, versus $9.6 million or $5.08 per diluted share in the prior year period.

The insurance company writes and supports residential and commercial title insurance and provides services for industry partners and complex commercial transactions through sister companies.

“Premiums from home purchase activity remained strong throughout the year, as economic growth continues to support a high level of home sales and increases in average real estate values,” said Chairman J. Allen Fine in a statement. “Premium growth from purchase activity and expansion of our agency footprint largely offset the impact of reductions in premiums related to mortgage refinance activity.”

Investors Title recorded net unrealized losses on equity investments at $6.8 million for the quarter and $4.1 million for the year.

Revenues for the year decreased by 3.3 percent to $156.3 million, compared with $161.6 million in the prior year.

The majority of the revenue decrease is due to the net unrealized loss on equity investments totaling $4.1 million in the current year, compared with a net realized gain totaling $1.0 million in the prior year.

Fine added that the company continues to experience a low level of claims, due to market factors such as low foreclosure rates, as well as a proactive approach to risk management.

“As we head into 2019 we are optimistic about the market, and we remain focused on enhancing our competitive strengths and expanding our market presence over the long term,” Fine said.

Investors Title has a regional office in Columbia, South Carolina and clients throughout the U.S.

Its shares opened at $171.88, down 61 cents or 0.35 percent Friday morning.