Assetmark Inc. lessened its stake in Old Republic International Corporation (NYSE:ORI – Free Report) by 80.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 31,459 shares of the insurance provider’s stock after selling 126,487 shares during the period. Assetmark Inc.’s holdings in Old Republic International were worth $1,255,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ORI. V Square Quantitative Management LLC acquired a new stake in Old Republic International during the 4th quarter worth approximately $26,000. Torren Management LLC purchased a new stake in Old Republic International during the 4th quarter worth about $27,000. Commonwealth Retirement Investments LLC purchased a new position in shares of Old Republic International during the fourth quarter valued at approximately $27,000. JPL Wealth Management LLC acquired a new stake in shares of Old Republic International during the third quarter worth $27,000. Finally, Quest 10 Wealth Builders Inc. acquired a new stake in Old Republic International in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 70.92% of the company’s stock.
Insider Transactions at Old Republic International In related news, SVP Carolyn Monroe sold 13,330 shares of Old Republic International stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total value of $516,670.80. Following the completion of the sale, the senior vice president directly owned 32,261 shares in the company, valued at $1,250,436.36. This trade represents a 29.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is currently owned by corporate insiders.
Old Republic International Trading Up 2.2% NYSE ORI opened at $42.23 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.23 and a debt-to-equity ratio of 0.38. Old Republic International Corporation has a 1-year low of $35.60 and a 1-year high of $46.76. The firm’s fifty day simple moving average is $39.86 and its 200-day simple moving average is $40.54. The company has a market capitalization of $10.26 billion, a PE ratio of 9.98 and a beta of 0.58.
Old Republic International (NYSE:ORI – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). Old Republic International had a return on equity of 15.41% and a net margin of 11.71%.The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.
Old Republic International Announces Dividend The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were issued a $0.315 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.0%. Old Republic International’s dividend payout ratio (DPR) is currently 33.78%.
Analyst Ratings Changes A number of equities analysts have weighed in on the company. Piper Sandler decreased their price target on Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Friday. Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Weiss Ratings restated a “buy (b)” rating on shares of Old Republic International in a report on Wednesday, July 8th. Finally, Raymond James Financial set a $44.00 price target on Old Republic International in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Old Republic International presently has an average rating of “Moderate Buy” and an average price target of $41.50.
Check Out Our Latest Stock Analysis on ORI
Key Stories Impacting Old Republic International Here are the key news stories impacting Old Republic International this week:
Positive Sentiment: ORI reported second-quarter revenue of $2.50 billion, topping Wall Street expectations of about $2.38 billion and rising 5.2% year over year. Old Republic International earnings release and conference call links Positive Sentiment: The company also reported net income of $322.3 million, up sharply from $204.4 million a year ago, which supports investor confidence in underlying profitability. Old Republic second-quarter and first-half 2026 results Neutral Sentiment: Management said its ECM business should run at a 90% to 95% combined ratio, and flagged a bargain purchase gain expected next quarter, which may support future results but is not an immediate earnings driver. Old Republic expects ECM to run at a 90%-95% combined ratio Negative Sentiment: Adjusted performance was less impressive: net operating income fell to $186.0 million from $209.2 million last year, and EPS of $0.76 missed consensus by a small amount, which may limit upside. Old Republic Q2 earnings snapshot Old Republic International Profile (Free Report)
Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.
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3 Analyst-Backed Stocks the Market Is Getting Totally WrongOld Republic International NYSE: ORI reported lower second-quarter operating earnings as weaker specialty insurance underwriting results offset a stronger performance in its title insurance segment, management said on the company’s earnings call.
President and CEO Craig Smiddy said consolidated pre-tax operating income was $238 million in the second quarter of 2026, down from $268 million in the prior-year period. The consolidated combined ratio was 95.3%, compared with 93.6% a year earlier. The company’s annualized operating return on beginning equity was 12.1%, while book value per share, including dividends, increased 7.2% during the first six months of the year.
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Chief Financial Officer Frank Sodaro said net operating income was $186 million, or $0.76 per share, compared with $209 million, or $0.83 per share, in the second quarter of 2025.
Specialty Insurance Results Weaken on Reserve Strengthening Old Republic’s specialty insurance segment produced $199 million of pre-tax operating income, down from $254 million a year earlier. Net premiums earned increased 2.3% from the second quarter of 2025, while net premiums written rose 1.6% after excluding what Smiddy described as “noise” related to an auto warranty business written in the company’s auto warranty operating company.
The specialty insurance combined ratio rose to 95.5% from 90.7% a year earlier. Smiddy said the segment’s loss ratio was 65.9%, including 0.3 percentage points of unfavorable prior-year loss reserve development. That compared with a 62.5% loss ratio in the prior-year quarter, which included 2.9 percentage points of favorable development.
Sodaro said the company’s runoff transactional risk business had “poor claims experience,” which led to $40 million of reserve strengthening in the quarter. He noted that Old Republic placed the business into runoff in 2024. Outside of that runoff business, Sodaro said property and commercial auto had significant favorable reserve development, workers’ compensation had favorable development that was “considerably lower” than the prior year, and general liability had a moderate level of unfavorable development.
Smiddy said the specialty insurance expense ratio was 29.6%, up from 28.2% a year earlier, with most of the increase tied to investments in new specialty operating companies, technology modernization, data analytics and artificial intelligence.
Commercial Auto Rates Rise, Workers’ Compensation Premiums Decline In commercial auto, net premiums written rose 3.6% in the quarter, and the loss ratio was 69.4%, about 1 percentage point better than a year earlier. Smiddy said the improvement reflected a higher level of favorable prior-year reserve development, partially offset by a more conservative current accident-year loss ratio.
Rate increases in commercial auto were in the high teens and were higher than in the first quarter, Smiddy said, adding that the increases were greater than current loss trends the company is observing. He also said commercial auto retention ratios improved as competitors began implementing higher rate increases in response to higher loss trends.
Workers’ compensation net premiums written fell 8.4% in the quarter. The loss ratio was 60.6%, compared with 48.5% in the second quarter of 2025, with most of the change tied to a larger amount of favorable prior-year reserve development in the year-ago quarter. Smiddy said Old Republic held workers’ compensation rates flat, severity loss trends remained consistent and frequency loss trends continued to decline.
Smiddy said the company is seeing “some top-line pressure stemming from generally a competitive marketplace” but remains focused on risk-adequate pricing. In response to an analyst question about property pricing, he said catastrophe-exposed property is not a large part of Old Republic’s portfolio and that total property rates were down about 7.5% for the company.
Title Insurance Revenue and Profitability Improve Old Republic’s title insurance segment reported premium and fee revenue of $773 million, up 11% from the second quarter of 2025, according to Carolyn Monroe, president and CEO of Old Republic National Title Insurance Group. Smiddy said title premiums and fees increased 10%, while the segment generated $56 million of pre-tax operating income, up from $24 million a year earlier.
Monroe said residential transactions improved after a slow seasonal start, while commercial activity remained strong. Premiums produced in direct title operations increased 6%, while agency-produced premiums rose 12% and represented 78% of revenue, up from 77% in the prior-year quarter.
Commercial premiums increased and accounted for 25% of premiums earned, compared with 23% a year earlier. Monroe said the company saw “a wide mix of transactions across many segments of the commercial sector.” Asked about data center and infrastructure projects, she said data centers are large transactions that generally involve multiple title companies, and that Old Republic is also seeing activity in industrial projects and hospitality.
The title segment’s combined ratio improved to 95.1% from 99% a year earlier. Monroe said the expense ratio improved by 4 percentage points to 92.1%, with about half of the improvement tied to a one-time litigation settlement expense in the second quarter of 2025. The rest reflected operational efficiency, expense management and higher transaction volumes, partly offset by higher agent commissions due to a greater mix of agency business.
Monroe said Old Republic remains focused on improving operational efficiency and expanding margins, including through its partnership with Qualia and the rollout of a new operating system. Implementation began earlier this year and is expected to continue through the end of next year.
Investment Income, Buybacks and ECM Acquisition Sodaro said net investment income increased just over 6% in the quarter, primarily due to a larger investment base from operating results and a debt issuance completed in May. The average rate on corporate bonds acquired during the quarter was 4.9%, compared with an average yield of about 4.2% on bonds rolling off. The bond portfolio’s book yield ended the quarter at 4.8%, slightly higher than at year-end.
Book value per share was $25.33 at quarter-end. During the quarter, Old Republic paid nearly $77 million in dividends and repurchased $61 million of shares, leaving about $640 million remaining under its current repurchase program.
Smiddy said the company continues to view share repurchases as a way to return capital to shareholders but will remain opportunistic and mindful of the impact on book value per share. He said Old Republic could also consider a special dividend near year-end if it believes it has excess capital.
Management also discussed the company’s acquisition of ECM. Sodaro said Old Republic expects to report a bargain purchase gain on the acquisition next quarter and expects ECM’s results to be accretive to earnings and book value this year. ECM reported direct premiums written of just under $220 million in 2025 and ended that year with estimated GAAP equity of $145 million.
Smiddy said ECM has the same combined ratio targets as Old Republic’s other companies, between 90% and 95% over time, and that ECM produced “very strong” combined ratios in the first two quarters of 2026. He said Old Republic has eliminated ECM’s external quota share effective July 1 and is working to include ECM in its corporate treaties.
In closing, Smiddy said the company feels good about its prospects for the third and fourth quarters, citing “very solid” fundamentals in specialty insurance and brighter prospects in title insurance.
About Old Republic International (NYSE:ORI)Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Old Republic International (ORI - Free Report) reported $2.33 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 5.2%. EPS of $0.76 for the same period compares to $0.83 a year ago.
The reported revenue represents a surprise of -1.85% over the Zacks Consensus Estimate of $2.38 billion. With the consensus EPS estimate being $0.77, the EPS surprise was -1.3%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Old Republic performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Specialty Insurance Segment - Loss Ratio: 65.9% compared to the 64.7% average estimate based on two analysts.Specialty Insurance Segment - Expense Ratio: 29.6% compared to the 29.9% average estimate based on two analysts.Title Insurance Segment - Combined Ratio: 95.1% compared to the 98.9% average estimate based on two analysts.Title Insurance Segment - Loss Ratio: 3% versus the two-analyst average estimate of 2.9%.Operating Revenue- Specialty Insurance Segment- Net premiums earned: $1.32 billion compared to the $1.38 billion average estimate based on two analysts. The reported number represents a change of +2.3% year over year.Operating Revenue- Specialty Insurance Segment- Net investment income: $159.5 million versus $158.34 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +6.4% change.Operating Revenue- Specialty Insurance Segment- Other income: $51.2 million compared to the $50.89 million average estimate based on two analysts. The reported number represents a change of +3.9% year over year.Operating Revenue- Corporate & Other: $5.4 million compared to the $5.9 million average estimate based on two analysts. The reported number represents a change of -18.2% year over year.Operating Revenue- Title Insurance Segment- Net investment income: $18.3 million compared to the $17.79 million average estimate based on two analysts. The reported number represents a change of +5.8% year over year.Operating Revenue- Specialty Insurance Segment: $1.53 billion versus $1.59 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +2.7% change.Operating Revenue- Title Insurance Segment: $717.8 million compared to the $782.15 million average estimate based on two analysts. The reported number represents a change of +0.4% year over year.Operating Revenue- Title Insurance Segment- Net premiums earned: $699.3 million versus the two-analyst average estimate of $764.31 million. The reported number represents a year-over-year change of +0.2%.View all Key Company Metrics for Old Republic here>>>
Shares of Old Republic have returned +3.2% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Old Republic International (ORI - Free Report) came out with quarterly earnings of $0.76 per share, missing the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $0.83 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -1.30%. A quarter ago, it was expected that this insurance underwriter would post earnings of $0.79 per share when it actually produced earnings of $0.68, delivering a surprise of -13.92%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Old Republic, which belongs to the Zacks Insurance - Multi line industry, posted revenues of $2.33 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.85%. This compares to year-ago revenues of $2.22 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Old Republic shares have lost about 8.9% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for Old Republic?While Old Republic has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Old Republic was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.77 on $2.47 billion in revenues for the coming quarter and $2.95 on $9.66 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Multi line is currently in the bottom 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, MetLife (MET - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.
This insurer is expected to post quarterly earnings of $2.36 per share in its upcoming report, which represents a year-over-year change of +16.8%. The consensus EPS estimate for the quarter has been revised 1% higher over the last 30 days to the current level.
MetLife's revenues are expected to be $19.38 billion, up 8.1% from the year-ago quarter.
, /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) – today reported the following results for the second quarter 2026:
Net income of $322.3 million, compared to $204.4 million last year. Net income excluding investment gains (net operating income) of $186.0 million, compared to $209.2 million last year. Net operating income per diluted share of $0.76, compared to $0.83 last year. Consolidated net premiums and fees earned of nearly $2.1 billion, compared to nearly $2.0 billion last year. Net investment income of $182.0 million, compared to $171.5 million last year. Consolidated combined ratio of 95.3%, compared to 93.6% last year. Favorable loss reserve development of 0.1 points, compared to 2.1 points last year. Book value per share of $25.33, inclusive of dividends declared, up 7.2% since year-end 2025. Annualized operating return on equity of 12.1%. Total capital returned to shareholders of $137.4 million. Dollar amounts (other than per share amounts) are presented in millions, except as otherwise indicated.
OVERALL RESULTS ATTRIBUTABLE TO SHAREHOLDERS
Quarters Ended June 30,
Six Months Ended June 30,
2026
2025
% Change
2026
2025
% Change
Net income
$ 322.3
$ 204.4
$ 652.4
$ 449.5
Net of tax investment gains (losses)
136.2
(4.7)
295.7
38.5
Net income excluding investment gains (losses)
$ 186.0
$ 209.2
(11.1) %
$ 356.6
$ 410.9
(13.2) %
Combined ratio
95.3 %
93.6 %
96.0 %
93.7 %
PER DILUTED SHARE ATTRIBUTABLE TO SHAREHOLDERS
Quarters Ended June 30,
Six Months Ended June 30,
2026
2025
% Change
2026
2025
% Change
Net income
$ 1.31
$ 0.81
$ 2.63
$ 1.79
Net of tax investment gains (losses)
0.55
(0.02)
1.19
0.15
Net income excluding investment gains (losses)
$ 0.76
$ 0.83
(9.3) %
$ 1.44
$ 1.64
(12.3) %
SHAREHOLDERS' EQUITY (BOOK VALUE)
June 30,
Dec. 31,
2026
2025
% Change
Total
$ 6,072.8
$ 5,914.0
2.7 %
Per common share
$ 25.33
$ 24.21
4.6 %
Old Republic's business is managed for the long run. In this context, management's key objectives are to achieve highly profitable operating results over the long term, and to ensure balance sheet strength for the Company's obligations. Although Generally Accepted Accounting Principles (GAAP) uses net income as the measure of total profitability, management uses net income excluding net investment gains (losses) (net operating income), a non-GAAP financial measure, in its evaluation of periodic and long-term results.
In management's opinion, excluding investment gains (losses) from income provides a better way to analyze, evaluate, and establish accountability for the results of the insurance operations. The inclusion of realized investment gains (losses) in net income can mask trends in operating results because such realizations are often highly discretionary. Similarly, the inclusion of unrealized investment gains (losses) in equity securities can further distort such operating results with significant period-to-period fluctuations that are unrelated to the insurance operations. Net operating income, however, does not replace GAAP net income as a measure of total profitability.
FINANCIAL HIGHLIGHTS
Quarters Ended June 30,
Six Months Ended June 30,
SUMMARY INCOME STATEMENTS:
2026
2025
% Change
2026
2025
% Change
Revenues:
Net premiums and fees earned
$ 2,097.8
$ 1,994.6
5.2 %
$ 4,070.0
$ 3,835.7
6.1 %
Net investment income
182.0
171.5
6.1
360.1
342.2
5.2
Other income
51.4
49.6
3.7
98.8
96.8
2.0
Total operating revenues
2,331.3
2,215.8
5.2
4,528.9
4,274.9
5.9
Net investment gains (losses):
Realized from actual transactions and
impairments
38.1
(2.4)
123.5
34.9
Unrealized from changes in fair value of
equity securities
134.2
(4.9)
250.7
12.7
Total net investment gains (losses)
172.4
(7.3)
374.3
47.7
Total revenues
2,503.8
2,208.5
4,903.3
4,322.6
Operating expenses:
Loss and loss adjustment expenses
896.7
830.6
8.0
1,737.0
1,608.4
8.0
Underwriting, acquisition, and other expenses
1,170.2
1,099.9
6.4
2,298.2
2,110.7
8.9
Interest and other charges
26.5
17.6
50.3
44.3
35.5
24.8
Total expenses
2,093.6
1,948.3
7.5 %
4,079.6
3,754.6
8.7 %
Pretax income
410.2
260.1
823.6
567.9
Income taxes
85.7
51.7
169.6
113.3
Total net income
324.4
208.4
653.9
454.5
Net income attributable to noncontrolling interests
2.0
3.9
1.5
5.0
Net income attributable to shareholders
$ 322.3
$ 204.4
$ 652.4
$ 449.5
COMMON STOCK STATISTICS:
Components of net income per share:
Basic net income excluding investment gains (losses)
$ 0.78
$ 0.85
(9.2) %
$ 1.48
$ 1.68
(12.2) %
Net investment gains (losses):
Realized investment gains (losses)
0.12
(0.01)
0.40
0.11
Unrealized from changes in fair value of
equity securities
0.44
(0.01)
0.82
0.05
Basic net income
$ 1.34
$ 0.83
$ 2.70
$ 1.84
Diluted net income excluding investment gains (losses)
$ 0.76
$ 0.83
(9.3) %
$ 1.44
$ 1.64
(12.3) %
Net investment gains (losses):
Realized investment gains (losses)
0.12
(0.01)
0.39
0.11
Unrealized from changes in fair value of
equity securities
0.43
(0.01)
0.80
0.04
Diluted net income
$ 1.31
$ 0.81
$ 2.63
$ 1.79
Dividends declared on common stock
$ 0.315
$ 0.290
8.6 %
$ 0.630
$ 0.580
8.6 %
The information presented in the following table highlights the most meaningful indicators of Old Republic's segmented and consolidated financial performance. The information underscores the performance of the operating companies, as well as the sound investment of their capital and underwriting cash flows.
Sources of Consolidated Income
Quarters Ended June 30,
Six Months Ended June 30,
2026
2025
% Change
2026
2025
% Change
Net premiums and fees earned:
Specialty Insurance
$ 1,323.8
$ 1,294.5
2.3 %
$ 2,615.7
$ 2,528.1
3.5 %
Title Insurance
772.6
697.8
10.7
1,450.5
1,302.9
11.3
Corporate & Other
1.2
2.3
(45.6)
3.7
4.6
(19.2)
Consolidated
$ 2,097.8
$ 1,994.6
5.2 %
$ 4,070.0
$ 3,835.7
6.1 %
Underwriting income (loss): (a)
Specialty Insurance
$ 59.3
$ 119.9
(50.5) %
$ 126.5
$ 246.1
(48.6) %
Title Insurance
37.6
6.9
N/M
37.0
(5.2)
N/M
Corporate & Other
(14.7)
(13.3)
(10.6)
(30.1)
(27.4)
(10.0)
Consolidated
$ 82.2
$ 113.6
(27.6) %
$ 133.5
$ 213.4
(37.5) %
Net investment income:
Specialty Insurance
$ 159.5
$ 149.9
6.4 %
$ 317.6
$ 299.9
5.9 %
Title Insurance
18.3
17.3
5.8
35.8
34.0
5.1
Corporate & Other
4.1
4.2
(2.3)
6.6
8.2
(19.5)
Consolidated
$ 182.0
$ 171.5
6.1 %
$ 360.1
$ 342.2
5.2 %
Interest and other charges:
Specialty Insurance
$ 20.2
$ 16.1
$ 36.5
$ 32.1
Title Insurance
—
—
0.1
0.1
Corporate & Other (b)
6.2
1.5
7.6
3.2
Consolidated
$ 26.5
$ 17.6
50.3 %
$ 44.3
$ 35.5
24.8 %
Pretax income (loss) excluding investment
gains (losses):
Specialty Insurance
$ 198.6
$ 253.7
(21.7) %
$ 407.6
$ 513.9
(20.7) %
Title Insurance
55.9
24.2
130.5
72.7
28.6
153.9
Corporate & Other
(16.8)
(10.5)
(59.2)
(31.1)
(22.3)
(39.1)
Consolidated
237.7
267.5
(11.1) %
449.3
520.2
(13.6) %
Income taxes
49.5
54.3
91.0
104.1
Net income excluding investment
gains (losses)
188.1
213.2
(11.7) %
358.2
416.0
(13.9) %
Consolidated pretax investment gains (losses):
Realized from actual transactions
and impairments
38.1
(2.4)
123.5
34.9
Unrealized from changes in
fair value of equity securities
134.2
(4.9)
250.7
12.7
Total
172.4
(7.3)
374.3
47.7
Income taxes (credits)
36.2
(2.6)
78.6
9.1
Net of tax investment gains (losses)
136.2
(4.7)
295.7
38.5
Total net income
324.4
208.4
653.9
454.5
Net income attributable to
noncontrolling interests
2.0
3.9
1.5
5.0
Net income attributable to shareholders
$ 322.3
$ 204.4
$ 652.4
$ 449.5
(a) Includes related services.
(b) Includes consolidation/elimination entries.
Specialty Insurance Segment Operating Results
Quarters Ended June 30,
Six Months Ended June 30,
2026
2025
% Change
2026
2025
% Change
Revenues:
Net premiums written
$ 1,483.2
$ 1,361.0
9.0 %
$ 2,822.6
$ 2,633.1
7.2 %
Net premiums earned
1,323.8
1,294.5
2.3
2,615.7
2,528.1
3.5
Other income
51.2
49.3
3.8
98.4
96.4
2.1
Expenses:
Loss and loss adjustment expenses
872.8
809.6
7.8
1,694.7
1,570.7
7.9
Underwriting, acquisition, and other expenses
442.9
414.2
6.9
892.8
807.7
10.5
Segment underwriting income
59.3
119.9
(50.5)
126.5
246.1
(48.6)
Add: Net investment income
159.5
149.9
6.4
317.6
299.9
5.9
Less: Interest and other charges
20.2
16.1
25.7
36.5
32.1
13.7
Segment pretax operating income
$ 198.6
$ 253.7
(21.7) %
$ 407.6
$ 513.9
(20.7) %
Loss ratio:
Current year
65.6 %
65.4 %
65.4 %
65.2 %
Prior years
0.3
(2.9)
(0.6)
(3.1)
Total
65.9
62.5
64.8
62.1
Expense ratio
29.6
28.2
30.4
28.1
Combined ratio
95.5 %
90.7 %
95.2 %
90.2 %
Specialty Insurance net premiums written reflects significant growth in a large auto warranty program which requires net premiums written to include the retail selling price of the service contract. Excluding the write-up to retail pricing from all auto warranty programs, net premiums written increased 1.6% and 2.2% for the quarter and first six months, respectively.
Net premiums earned increased 2.3% for the quarter and 3.5% for the first six months. Growth in the quarter was driven by a combination of premium rate increases and new business production, including an increasing contribution from new operating companies, partially offset by a decline in renewal retention ratios compared to last year. Commercial auto renewal retention improved slightly compared to the first quarter of 2026, while Specialty Insurance continued to prioritize rate. Earned premium growth was most pronounced within commercial auto, accident & health, general liability, property, and auto warranty coverages while workers' compensation and Canadian travel accident and trucking declined.
The increase in net investment income was primarily driven by a higher invested asset base.
The Specialty Insurance loss ratio increase was largely due to changes in prior year loss reserve development, while the current year loss ratio remained consistent. In the quarter, Specialty Insurance experienced unfavorable development of approximately $40 (3.0 points) from its run-off transactional risk business reported in financial indemnity. This unfavorable development was mostly offset by significant favorable development from commercial auto and property.
The expense ratio remains elevated due to continued investments in start-up operating companies which are not at scale, information technology modernization, data and analytics, and artificial intelligence, including the additional personnel costs to manage all of these key initiatives. Several of the information technology modernization efforts are entering a phase in which costs are being amortized while the systems being replaced are not yet decommissioned.
Together, these factors produced a profitable combined ratio and strong pretax operating income for the quarter and first six months. For Specialty Insurance, combined ratios between 90% and 95% are targeted over a full underwriting cycle, recognizing that quarterly and annual ratios and trends may deviate from this range, particularly with long-tailed lines of coverage.
Old Republic's previously announced acquisition of Everett Cash Mutual Insurance Co. (ECM) and affiliated companies following its conversion to a stock company in a sponsored demutualization transaction closed effective July 1, 2026. ECM will be included in the Specialty Insurance segment beginning in the third quarter of 2026. Specialty Insurance expects to report a gain on the acquisition of approximately $125 subject to final valuations as of the closing date, and for the business to be accretive to earnings in 2026.
Title Insurance Segment Operating Results
Quarters Ended June 30,
Six Months Ended June 30,
2026
2025
% Change
2026
2025
% Change
Revenues:
Net premiums earned
$ 699.3
$ 629.8
11.0 %
$ 1,318.2
$ 1,176.8
12.0 %
Title, escrow, and other fees
73.3
67.9
7.9
132.2
126.1
4.9
Net premiums and fees earned
772.6
697.8
10.7
1,450.5
1,302.9
11.3
Other income
0.2
0.1
15.3
0.3
0.3
21.0
Expenses:
Loss and loss adjustment expenses
23.4
20.3
15.2
40.8
36.3
12.4
Underwriting, acquisition, and other expenses
711.8
670.7
6.1
1,372.9
1,272.1
7.9
Segment underwriting income (loss)
37.6
6.9
N/M
37.0
(5.2)
N/M
Add: Net investment income
18.3
17.3
5.8
35.8
34.0
5.1
Less: Interest and other charges
—
—
N/M
0.1
0.1
(14.2)
Segment pretax operating income
$ 55.9
$ 24.2
130.5 %
$ 72.7
$ 28.6
153.9 %
Loss ratio:
Current year
3.7 %
3.5 %
3.7 %
3.5 %
Prior years
(0.7)
(0.6)
(0.9)
(0.7)
Total
3.0
2.9
2.8
2.8
Expense ratio
92.1
96.1
94.6
97.6
Combined ratio
95.1 %
99.0 %
97.4 %
100.4 %
Title Insurance net premiums and fees earned increased 10.7% for the quarter and 11.3% for the first six months. Both agency and directly produced premiums experienced solid growth and continued strong commercial business production. Commercial premiums represented 25.4% of net premiums earned compared to 23.0% in the second quarter of last year.
Net investment income increased, reflecting a slightly higher invested asset base.
The Title Insurance loss ratio remained consistent with last year, reflecting a slightly higher level of favorable prior year loss reserve development offset by slightly higher current year losses. The second quarter and first half of 2025 expense ratios included approximately $15 (2.1 and 1.1 points, respectively) in litigation settlement expenses. Excluding that impact, the expense ratios for both 2026 periods improved as a result of expense management and scale, partially offset by a higher amount of agent commissions as a result of increased agency business compared to the direct operation.
Together, these factors produced higher pretax operating income for the quarter and first six months. For Title Insurance, combined ratios between 90% to 95% are targeted over a full underwriting cycle, recognizing that quarterly and annual ratios and trends may deviate from this range. Although Title Insurance has been navigating a difficult real estate environment over the last few years resulting in ratios in excess of this range, they continue to strive to come into range in the near term.
Corporate & Other Operating Results
Quarters Ended June 30,
Six Months Ended June 30,
2026
2025
% Change
2026
2025
% Change
Net premiums earned
$ 1.2
$ 2.3
(45.6) %
$ 3.7
$ 4.6
(19.2) %
Net investment income (a)
4.1
4.2
(2.3)
6.6
8.2
(19.5)
Operating revenues
5.4
6.6
(18.6)
10.3
12.8
(20.0)
Operating expenses
22.2
17.2
29.1
41.4
35.2
17.5
Corporate & Other pretax operating loss
$ (16.8)
$ (10.5)
(59.2) %
$ (31.1)
$ (22.3)
(39.1) %
(a) Net of elimination entries.
Corporate & Other includes a small life and accident insurance business, the parent holding company, and several internal corporate services subsidiaries. Net investment income was impacted by a lower portfolio yield and invested asset base due to the return of capital to shareholders, partially offset by proceeds from the May 2026 debt issuance. The Company issued $700 in Senior Notes in anticipation of the August 2026 maturity of the existing $550 Senior Notes. Operating expenses for both 2026 periods reflect the increased interest costs associated with the debt issuance.
Consolidated Balance Sheets
June 30,
December 31,
2026
2025
Assets:
Fixed income securities (at fair value)
$ 12,161.2
$ 12,709.8
Equity securities (at fair value)
2,679.0
2,487.7
Short-term investments (at fair value which approximates cost)
2,233.1
1,613.6
Other investments
17.8
27.7
Cash
417.7
263.2
Accrued investment income
142.5
141.1
Accounts and notes receivable
3,140.2
2,782.2
Reinsurance balances and funds held
385.7
404.5
Reinsurance recoverable
8,426.3
7,740.2
Deferred policy acquisition costs
814.8
636.2
Other assets
1,173.7
1,055.9
Total assets
$ 31,592.4
$ 29,862.7
Liabilities and Equity:
Loss and loss adjustment expense reserves
$ 15,326.9
$ 14,775.7
Unearned premiums
4,559.0
3,982.5
Other policyholders' benefits and funds held
183.5
177.8
Commissions, expenses, fees, and taxes
544.4
601.8
Reinsurance balances and funds held
1,689.5
1,428.0
Federal income tax: Deferred
262.9
219.3
Debt
2,284.0
1,589.9
Other liabilities
653.9
1,158.7
Total liabilities
25,504.5
23,934.2
Total shareholders' equity
6,072.8
5,914.0
Noncontrolling interests
15.0
14.4
Total equity
6,087.8
5,928.4
Total liabilities and equity
$ 31,592.4
$ 29,862.7
Investments
As of June 30, 2026, the consolidated investment portfolio reflected an allocation of approximately 84% to fixed income securities (bonds and notes) and short-term investments, and 16% to equity securities (common and preferred stocks). The investment management process remains focused on retaining quality investments that produce consistent streams of investment income, while monitoring concentration limits among the operating companies. The equity portfolio consists of high-quality common stocks of U.S. companies with long-term records of reasonable earnings growth and steadily increasing dividends.
The investment portfolio has extremely limited exposure to high risk or illiquid asset classes such as limited partnerships, derivatives, hedge funds or private equity investments. In addition, the Company does not engage in hedging or securities lending transactions, nor does it invest in securities with values predicated on non-regulated financial instruments with unfunded counterparty risk attributes.
Shareholders' Equity Per Share
Changes in shareholders' equity per share are reflected in the following table. These changes resulted mostly from net operating income, realized and unrealized investment gains (losses), and dividends to shareholders declared during the year.
Quarter
Year
Ended
Ended
June 30,
Six Months Ended June 30,
Dec. 31,
2026
2026
2025
2025
Beginning balance
$ 24.53
$ 24.21
$ 22.84
$ 22.84
Changes in shareholders' equity:
Net income excluding net investment gains (losses)
0.78
1.48
1.68
3.23
Net of tax realized investment gains
0.12
0.40
0.11
0.65
Net of tax unrealized investment gains (losses):
Fixed income securities
(0.14)
(0.61)
0.75
1.02
Equity securities
0.44
0.82
0.05
(0.06)
Total net of tax realized and unrealized investment gains
0.42
0.61
0.91
1.61
Dividends declared
(0.315)
(0.630)
(0.580)
(3.660)
Other – net
(0.09)
(0.34)
0.29
0.19
Net change
0.80
1.12
2.30
1.37
Ending balance
$ 25.33
$ 25.33
$ 25.14
$ 24.21
Change for the period
3.3 %
4.6 %
10.1 %
6.0 %
Change for the period, inclusive of dividends declared
4.5 %
7.2 %
12.6 %
22.0 %
Total capital returned to shareholders during the quarter was $137.4, comprised of $76.6 in dividends and $60.7 in share repurchases. For the first six months, total capital returned was $374.9, comprised of $153.3 in dividends and $221.5 in share repurchases.
Financial Supplement
A financial supplement to this news release is available on the Company's website: www.oldrepublic.com
Conference Call Information
Old Republic has scheduled a conference call at 3:00 p.m. ET (2:00 p.m. CT) today to discuss its second quarter 2026 performance and to review major operating trends and business developments. The call can be accessed live on Old Republic's website at www.oldrepublic.com or by dialing 1-800-715-9871, passcode 2246765. Interested parties may also listen to a replay of the call through July 30, 2026 by dialing 1-800-770-2030, passcode 2246765, or by accessing it on Old Republic's website.
About Old Republic
Old Republic is a leading specialty insurer that operates diverse property & casualty and title insurance companies. Founded in 1923 and a member of the Fortune 500, Old Republic is a leader in underwriting and risk management services for business partners across the United States and Canada. Old Republic's specialized operating companies are experts in their fields, enabling them to provide tailored solutions that set them apart. For more information, please visit www.oldrepublic.com.
Forward-Looking Statements
Some of the oral or written statements made in the Company's reports, press releases, and conference calls following earnings releases, can constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally include words such as "expect," "predict," "estimate," "will," "should," "anticipate," "believe," and similar expressions. Any such forward-looking statements involve assumptions, uncertainties, and risks that may affect the Company's future performance.
Historical data pertaining to the operating results, liquidity, and other performance indicators applicable to an insurance enterprise such as Old Republic are not necessarily indicative of results to be achieved in succeeding years. In addition to the factors cited below, the long-term nature of the insurance business, seasonal and annual patterns in premium production and incidence of claims, changes in yields obtained on invested assets, changes in government policies and free markets affecting inflation rates and general economic conditions, and changes in legal precedents or the application of law affecting the settlement of disputed and other claims can have a bearing on period-to-period comparisons and future operating results.
Old Republic's Specialty Insurance segment results can be affected by the level of market competition, which is typically a function of available capital and expected returns on such capital among competitors; general economic considerations, including the levels of investment yields, inflation rates, and the impacts of tariffs; periodic changes in claim frequency and severity patterns caused by natural disasters, weather conditions, accidents, illnesses, and work-related injuries; claims development and the impact on loss reserves; adequacy and availability of reinsurance; uncertainties in underwriting and pricing risks; and unanticipated external events. Old Republic's Title Insurance segment results can be affected by similar factors, and by changes in national and regional housing demand and values, the availability and cost of mortgage loans, and employment trends. Life and accident insurance earnings can be affected by the levels of employment and consumer spending, changes in mortality and health trends, and alterations in policy lapsation rates. At the parent holding company level, operating earnings or losses are generally reflective of the amount of debt outstanding and its cost, interest income, the levels of investments held, and period-to-period variations in the costs of administering the Company's widespread operations. In addition, results could be particularly affected by technology and security breaches or failures, including cybersecurity incidents.
A more detailed listing and discussion of the risks and other factors which affect the Company's risk-taking insurance business are included in Part I, Item 1A - Risk Factors, of the Company's 2025 Form 10-K, and the various risks, uncertainties, and other factors that are included from time to time in other Securities and Exchange Commission filings.
Any forward-looking statements or commentaries speak only as of their dates. Old Republic undertakes no obligation to publicly update or revise any and all such comments, whether as a result of new information, future events or otherwise, and accordingly they may not be unduly relied upon.
At Old Republic:
At Financial Relations Board:
Craig R. Smiddy, President and Chief Executive Officer
Analysts/Investors: Joe Calabrese/[email protected]
Wall Street analysts forecast that Old Republic International (ORI - Free Report) will report quarterly earnings of $0.77 per share in its upcoming release, pointing to a year-over-year decline of 7.2%. It is anticipated that revenues will amount to $2.38 billion, exhibiting an increase of 7.2% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Old Republic metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Operating Revenue- Specialty Insurance Segment- Net premiums earned' will reach $1.38 billion. The estimate indicates a change of +6.4% from the prior-year quarter.
Analysts predict that the 'Operating Revenue- Specialty Insurance Segment- Net investment income' will reach $158.34 million. The estimate indicates a year-over-year change of +5.6%.
Based on the collective assessment of analysts, 'Operating Revenue- Specialty Insurance Segment- Other income' should arrive at $50.89 million. The estimate indicates a change of +3.2% from the prior-year quarter.
The combined assessment of analysts suggests that 'Operating Revenue- Corporate & Other' will likely reach $5.90 million. The estimate points to a change of -10.6% from the year-ago quarter.
The average prediction of analysts places 'Operating Revenue- Title Insurance Segment- Net investment income' at $17.79 million. The estimate indicates a change of +2.8% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Operating Revenue- Specialty Insurance Segment' of $1.59 billion. The estimate points to a change of +6.3% from the year-ago quarter.
Analysts forecast 'Operating Revenue- Title Insurance Segment' to reach $782.15 million. The estimate indicates a year-over-year change of +9.4%.
According to the collective judgment of analysts, 'Specialty Insurance Segment - Loss Ratio' should come in at 64.7%. The estimate is in contrast to the year-ago figure of 62.5%.
The consensus estimate for 'Specialty Insurance Segment - Expense Ratio' stands at 29.9%. The estimate compares to the year-ago value of 28.2%.
Analysts expect 'Title Insurance Segment - Combined Ratio' to come in at 98.9%. The estimate compares to the year-ago value of 99.0%.
It is projected by analysts that the 'Title Insurance Segment - Expense Ratio' will reach 96.0%. The estimate is in contrast to the year-ago figure of 96.1%.
Analysts' assessment points toward 'Specialty Insurance Segment - Combined Ratio' reaching 94.6%. The estimate compares to the year-ago value of 90.7%.
View all Key Company Metrics for Old Republic here>>>
Over the past month, Old Republic shares have recorded returns of +8% versus the Zacks S&P 500 composite's -0.6% change. Based on its Zacks Rank #3 (Hold), ORI will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
, /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) – today announced a national partnership with Hope For The Warriors® (HOPE), a nonprofit organization dedicated to supporting veterans, service members, military families, and caregivers. The partnership reflects a shared commitment to strengthening communities by supporting those who have served our country and the families who serve alongside them.
Through a personalized, whole-person approach where HOPE recognizes the uniqueness of every military family's journey, the organization provides practical programs and accessible resources that address a range of needs, including career transitions, financial wellbeing, mental health, and community connection. By meeting people where they are, HOPE helps veterans, service members, military families, and caregivers navigate the challenges and opportunities they encounter during and beyond military service.
Celebrating its 20th anniversary this year, HOPE continues to expand its impact. Since its founding, the organization has served more than 203,000 individuals, including more than 49,000 in 2025 alone. That sustained growth reflects the organization's ability to evolve alongside the changing needs of the military community over the past two decades.
"We are proud to support HOPE and the meaningful work they do making a difference in the lives of those who have made sacrifices for our country," said Craig R. Smiddy, Old Republic's President and Chief Executive Officer. "Their commitment to uplifting members of the military community reflects values we deeply share – integrity, resilience, and a long-term commitment to helping individuals thrive."
"We are honored to partner with Old Republic as a company that shares HOPE's commitment to strengthening the lives of veterans, service members and their families," said Robin Kelleher, Hope For The Warriors co-founder and CEO. "We're excited for this partnership to remind the nation of the service and sacrifice put forth by military families and showcase how HOPE's programs and resources empower members of the military community to build resilience and find connections."
Together, Old Republic and HOPE look forward to expanding this partnership nationwide, ensuring more veterans, service members, military families, and caregivers have access to trusted programs and resources that empower them to move forward with confidence and build the futures they envision.
About Old Republic
Old Republic is a leading specialty insurer that operates diverse property & casualty and title insurance companies. Founded in 1923 and a member of the Fortune 500®, we are a leader in underwriting and risk management services for business partners across the United States and Canada. Our specialized operating companies offer significant expertise in their fields, enabling us to provide tailored solutions that set us apart. For more information, please visit www.oldrepublic.com.
About Hope For The Warriors
Hope For The Warriors (HOPE) is a national leader driving transformative change for the post-9/11 U.S. military community (including veterans and active-duty service members as well as military caregivers, spouses and family members, and families of the fallen). At HOPE, our mission is to deliver unparalleled services that uplift individuals and their families as they navigate the complexities of military life. We are committed to fostering resilience and a sense of purpose, ensuring that those who have served our nation will thrive. Together, we forge a strong community that champions courage, commitment, and grit. To learn more or support our mission, visit hopeforthewarriors.org.
At Old Republic:
At Financial Relations Board:
Craig R. Smiddy: President and Chief Executive Officer
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) – today announced that it will report financial results for the second quarter of 2026 before the market opens on Thursday, July 23, 2026, and will hold a conference call at 3:00 p.m. Eastern time to discuss results. The call can be accessed live on Old Republic's website at www.oldrepublic.com or by dialing 800-715-9871, passcode 2246765.
Investors may also access a replay of the call by dialing 800-770-2030, passcode 2246765, which will be available through Thursday, July 30, 2026. The replay will also be available on Old Republic's website.
About Old Republic
Old Republic is a leading specialty insurer that operates diverse property & casualty and title insurance companies. Founded in 1923 and a member of the Fortune 500®, we are a leader in underwriting and risk management services for business partners across the United States and Canada. Our specialized operating companies offer significant expertise in their fields, enabling us to provide tailored solutions that set us apart. For more information, please visit www.oldrepublic.com.
At Old Republic:
At Financial Relations Board:
Craig R. Smiddy: President and Chief Executive Officer
, /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) – today announced the results of the special meeting of the members of Everett Cash Mutual Insurance Co. ("ECM") held this morning at which members approved, among other matters, the conversion of ECM from a mutual insurance company to a stock insurance company named ECM Insurance Company and the acquisition of ECM Insurance Company and its subsidiaries (the "ECM Group") by Old Republic. In addition, Old Republic completed its offering of shares of its common stock for cash on a subscription basis to certain of the ECM members, employees, and non-employee directors. Old Republic received subscriptions of approximately $25 million through the sale of shares at a purchase price of $25.80 per share, which represented a 35.0% discount to the volume-weighted average trading price of $39.70 for the 10-trading day period ending June 29, 2026.
Pursuant to the terms of the Plan of Conversion, upon the filing of ECM's amended and restated articles of incorporation with the Secretary of State of the Commonwealth of Pennsylvania on July 1, 2026, Old Republic will deliver up to approximately 956 thousand shares of its common stock, which represents the maximum number of shares to be sold in the offering, and complete its acquisition of the ECM Group.
Old Republic President & CEO Craig R. Smiddy commented, "We are excited to welcome the ECM Group and its employees and customers to Old Republic. ECM has built a strong reputation over many decades serving the commercial agricultural market with deep expertise and a commitment to disciplined underwriting. Those attributes are at the core of our specialty strategy, and we are excited about the opportunities ahead as we work together to build on that foundation."
About Old Republic
Old Republic is a leading specialty insurer that operates diverse property & casualty and title insurance companies. Founded in 1923 and a member of the Fortune 500®, we are a leader in underwriting and risk management services for business partners across the United States and Canada. Our specialized operating companies offer significant expertise in their fields, enabling us to provide tailored solutions that set us apart. For more information, please visit www.oldrepublic.com.
At Old Republic:
At Financial Relations Board:
Craig R. Smiddy: President and Chief Executive Officer
, /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) – Old Republic International today announced a leadership transition at BITCO Insurance Companies, effective April 1, 2026. Meyer Lehman has been named President and Chief Executive Officer, and Vince Lamb, BITCO's current Chief Executive Officer, will become Executive Chairman.
In making this announcement, Craig Smiddy, Old Republic International's President and Chief Executive Officer, commented that "Meyer is a proven leader with the experience, judgment, and people-first approach that aligns closely with Old Republic's culture and operating philosophy. He has earned the trust of BITCO's colleagues, agents, and business partners, and we are confident in his ability to lead BITCO forward. This move reflects thoughtful succession planning and ensures we will continue to benefit from Vince's deep institutional knowledge, leadership, and steady counsel."
About Old Republic
Old Republic is a leading specialty insurer that operates diverse property & casualty and title insurance companies. Founded in 1923 and a member of the Fortune 500, we are a leader in underwriting and risk management services for business partners across the United States and Canada. Our specialized operating companies are experts in their fields, enabling us to provide tailored solutions that set us apart. For more information, please visit www.oldrepublic.com.
At Old Republic:
At Financial Relations Board:
Craig R. Smiddy: President and Chief Executive Officer
Key Takeaways ORI expanded Specialty Insurance product capabilities beyond commercial auto and workers' comp in 2025. ORI's Specialty Insurance gains from rate hikes, strong renewals and new business from operating companies. ORI's Title Insurance saw double-digit premium growth in 2025 on strong commercial activity. Shares of Old Republic International Corporation (ORI - Free Report) have gained 1.8% in the past year against the industry’s decline of 10.5%.
ORI has outperformed its peers, CNO Financial Group, Inc. (CNO - Free Report) , MetLife, Inc. (MET - Free Report) and Markel Group Inc. (MKL - Free Report) in the past year. CNO and MET have lost 3.5% and 15%, respectively, in the past year. Shares of MKL have gained 0.9% in the past year.
Image Source: Zacks Investment Research
With a market capitalization of $9.81 billion, the average number of shares traded in the last three months was 2 million.
ORI’s Attractive ValuationThe stock is trading at a discount to the industry. Its price-to-book value of 1.67X is lower than the industry average of 2.25X, the Finance sector’s 3.94X, and the Zacks S&P 500 Composite’s 7.46X.
Image Source: Zacks Investment Research
The company has a Value Score of A. This style score helps find the most attractive value stocks.
ORI’s Growth Projection EncouragesThe Zacks Consensus Estimate for Old Republic International's 2026 earnings per share indicates a year-over-year increase of 3.1%. The consensus estimate for 2026 revenues is pegged at $9.72 billion, implying a year-over-year improvement of 8.5%. The consensus estimate for 2027 earnings per share and revenues indicates an increase of 3% and 6.8%, respectively, from the corresponding 2026 estimates.
Earnings Surprise HistoryOld Republic International surpassed earnings estimates in three of the last four quarters while missing in one, the average being 12.8%.
Average Target Price for ORI Suggests UpsideBased on short-term price targets offered by two analysts, the Zacks average price target is $42.50 per share. The average suggests a potential 7.8% upside from the last closing price.
Image Source: Zacks Investment Research
ORI’s Favorable Return on CapitalReturn on equity (ROE) for the trailing 12 months was 16.2%, which compared favorably with the industry’s 15.3%. This reflects its efficiency in utilizing shareholders’ funds. ORI’s ROE has been increasing over the last few quarters.
Also, return on invested capital (ROIC) has been increasing over the last few quarters as the company raised its capital investment over the same time frame. This reflects ORI’s efficiency in utilizing funds to generate income. ROIC in the trailing 12 months was 3%, better than the industry average of 2.1%.
Factors Acting in Favor of ORIORI has a diverse and decentralized portfolio of specialty insurance products and services.
In 2025, Specialty Insurance continued to expand its product capabilities beyond its traditional focus on commercial auto and workers’ compensation.
The Specialty Insurance segment of ORI should continue to benefit from a combination of premium rate increases, high renewal retention ratios and new business production, including an increasing contribution from new operating companies. Commercial auto and general liability continued to achieve significant rate increases.
Old Republic International’s Title Insurance segment's solid net premiums and fees earned continue to reflect strong activity in the commercial sector and a modest uptick in refinance activity. Both agency and directly produced premiums experienced double-digit growth in 2025, riding on lower interest rates and strong commercial business production.
ConclusionAs part of wealth distribution to shareholders, ORI also engages in regular buybacks. ORI’s dividend history is impressive. It has hiked dividends for the last 43 years. Its dividend yield of 3.1% appears attractive compared with the industry average of 2.7%, making it an attractive pick for yield-seeking investors.
However, a high debt level, an increase in interest expense and a lower asset base in a low-interest rate environment keep us cautious about this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Burns Matteson Capital Management LLC acquired a new position in Old Republic International Corporation (NYSE:ORI – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,500 shares of the insurance provider’s stock, valued at approximately $616,000.
A number of other institutional investors and hedge funds have also bought and sold shares of ORI. JPL Wealth Management LLC purchased a new position in Old Republic International in the 3rd quarter worth approximately $27,000. Clearstead Trust LLC raised its position in shares of Old Republic International by 65.6% during the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock valued at $31,000 after buying an additional 288 shares in the last quarter. Core Alternative Capital bought a new stake in shares of Old Republic International during the 3rd quarter worth $42,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Old Republic International by 28.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 222 shares during the last quarter. Finally, Caldwell Trust Co grew its position in Old Republic International by 75.0% in the third quarter. Caldwell Trust Co now owns 1,050 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 450 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes A number of research analysts recently commented on ORI shares. Piper Sandler reissued a “neutral” rating and issued a $38.00 target price (down from $51.00) on shares of Old Republic International in a research note on Thursday, January 22nd. Zacks Research upgraded Old Republic International from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Finally, Weiss Ratings lowered Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.50.
View Our Latest Stock Analysis on ORI
Insider Activity In related news, Director John Eric Smith acquired 1,135 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were purchased at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the completion of the acquisition, the director owned 4,276 shares in the company, valued at approximately $184,295.60. This represents a 36.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, SVP Carolyn Monroe sold 5,526 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $39.28, for a total value of $217,061.28. Following the completion of the sale, the senior vice president directly owned 27,875 shares of the company’s stock, valued at approximately $1,094,930. This trade represents a 16.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by insiders.
Old Republic International Trading Down 0.2% Shares of ORI opened at $39.85 on Wednesday. Old Republic International Corporation has a fifty-two week low of $34.43 and a fifty-two week high of $46.76. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of 11.76 and a beta of 0.73. The firm has a 50 day moving average price of $40.72 and a 200-day moving average price of $42.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27.
Old Republic International (NYSE:ORI – Get Free Report) last released its earnings results on Thursday, January 22nd. The insurance provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. During the same quarter in the prior year, the business posted $0.90 EPS. As a group, equities research analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current year.
Old Republic International Increases Dividend The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were paid a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Old Republic International’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, March 9th. Old Republic International’s payout ratio is 37.17%.
Old Republic International Company Profile (Free Report)
Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.
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SG Americas Securities LLC raised its position in Old Republic International Corporation (NYSE:ORI – Free Report) by 300.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 68,240 shares of the insurance provider’s stock after acquiring an additional 51,208 shares during the period. SG Americas Securities LLC’s holdings in Old Republic International were worth $3,114,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. JPL Wealth Management LLC purchased a new position in Old Republic International during the third quarter worth about $27,000. Clearstead Trust LLC boosted its holdings in Old Republic International by 65.6% in the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 288 shares in the last quarter. Core Alternative Capital acquired a new position in Old Republic International during the 3rd quarter worth approximately $42,000. Wilmington Savings Fund Society FSB increased its position in Old Republic International by 28.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 222 shares during the period. Finally, Caldwell Trust Co raised its stake in shares of Old Republic International by 75.0% during the 3rd quarter. Caldwell Trust Co now owns 1,050 shares of the insurance provider’s stock worth $45,000 after buying an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.
Old Republic International Price Performance ORI stock opened at $40.40 on Friday. The firm has a 50 day moving average of $40.72 and a 200-day moving average of $42.22. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 11.92 and a beta of 0.72. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27. Old Republic International Corporation has a 12-month low of $34.43 and a 12-month high of $46.76.
Old Republic International (NYSE:ORI – Get Free Report) last released its quarterly earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.During the same period last year, the firm posted $0.90 earnings per share. As a group, equities analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.
Old Republic International Increases Dividend The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 3.1%. This is a positive change from Old Republic International’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, March 9th. Old Republic International’s dividend payout ratio is currently 37.17%.
Insiders Place Their Bets In other news, SVP Carolyn Monroe sold 5,526 shares of Old Republic International stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $39.28, for a total transaction of $217,061.28. Following the completion of the transaction, the senior vice president owned 27,875 shares of the company’s stock, valued at $1,094,930. The trade was a 16.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Eric Smith acquired 1,135 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was acquired at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the completion of the transaction, the director directly owned 4,276 shares in the company, valued at approximately $184,295.60. This represents a 36.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.
Wall Street Analysts Forecast Growth Several analysts have recently commented on the company. Piper Sandler reissued a “neutral” rating and issued a $38.00 price target (down from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. Weiss Ratings cut Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, March 27th. Finally, Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.
View Our Latest Research Report on ORI
Old Republic International Company Profile (Free Report)
Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.
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, /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) – today announced that it is forming a new operating company, Old Republic Property, Inc., to underwrite specialized property insurance products through a national retail broker distribution network. The company will be led by Patrick Hagerty as President. A graduate of Villanova University, Mr. Hagerty brings over 20 years of extensive property underwriting and leadership experience, with a track record of building and leading underwriting teams grounded in technical expertise, portfolio management, and long-term profitability.
In making this announcement, Craig R. Smiddy, Old Republic International's President and Chief Executive Officer, noted that, "Property insurance is a core line that aligns well with Old Republic's long-standing strategy and focus on diversified growth in Specialty Insurance. Patrick's leadership experience, underwriting discipline, and cultural fit, together with Old Republic's brand, resources, and financial strength, position Old Republic Property to build a high-quality specialty franchise over time."
Old Republic Property is the seventh new specialty operating company that Old Republic has launched since 2021, adding further diversification, depth, and underwriting talent to the Old Republic Specialty Insurance Group.
About Old Republic
Old Republic is a leading specialty insurer that operates a diverse group of property & casualty and title insurance companies. Founded in 1923 and a member of the Fortune 500, we are a leader in underwriting and risk management services for business partners across the United States and Canada. Our specialized operating companies are experts in their fields, enabling us to provide tailored solutions that set us apart. For more information, please visit www.oldrepublic.com.
At Old Republic:
At Financial Relations Board:
Craig R. Smiddy: President and Chief Executive Officer
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) – today announced that it will report financial results for the first quarter of 2026 before the market opens on Thursday, April 23, 2026, and will hold a conference call at 3:00 p.m. Eastern time to discuss results. The call can be accessed live on Old Republic's website at www.oldrepublic.com or by dialing 800-715-9871, passcode 8649152.
Investors may also access a replay of the call by dialing 800-770-2030, passcode 8649152, which will be available through Thursday, April 30, 2026. The replay will also be available on Old Republic's website.
About Old Republic
Old Republic is a leading specialty insurer that operates a diverse group of property & casualty and title insurance companies. Founded in 1923 and a member of the Fortune 500, we are a leader in underwriting and risk management services for business partners across the United States and Canada. Our specialized operating companies are experts in their fields, enabling us to provide tailored solutions that set us apart. For more information, please visit www.oldrepublic.com.
At Old Republic:
At Financial Relations Board:
Craig R. Smiddy: President and Chief Executive Officer
, /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) – today announced the launch of Lodestar Claims & Risk Services, Inc. ("Lodestar") as an independent brand and standalone operating company within Old Republic, marking the first time in more than 30 years that the organization's third-party administrator (TPA) business will operate with its own distinct identity in the marketplace. Previously part of PMA Companies, the business operated as the insurance carrier's TPA division.
Lodestar is a top 10 national TPA providing claims administration and risk services to middle-market and large employers, national carriers, and distribution partners across all 50 states. The transition reflects a strategic decision by Old Republic to position its TPA business for continued growth and expanded market visibility, while enabling Lodestar to further strengthen its role as a national provider of claims and risk services and deepen relationships with clients.
"This step reflects Old Republic's commitment to positioning its operating companies for long-term success," said Craig Smiddy, Chief Executive Officer of Old Republic. "Establishing Lodestar as a standalone brand strengthens its ability to grow as a national TPA while continuing to deliver consistent, high-quality service to clients."
"As Lodestar, we have the opportunity to more clearly define our role in the marketplace while continuing to deliver the claims expertise and service our clients rely on," said Michael MacAulay, President of Lodestar Claims & Risk Services, Inc. "Operating as a standalone organization allows us to build on more than three decades of experience and reinforces our focus on helping clients navigate complex claims and risk challenges."
Lodestar's operations, leadership team, and service model remain unchanged. Clients and partners will continue working with the same claims professionals and teams they rely on today.
About Old Republic
Old Republic is a leading specialty insurer that operates a diverse group of property & casualty and title insurance companies. Founded in 1923 and a member of the Fortune 500, we are a leader in underwriting and risk management services for business partners across the United States and Canada. Our specialized operating companies are experts in their fields, enabling us to provide tailored solutions that set us apart. For more information, please visit www.oldrepublic.com.
At Old Republic:
At Financial Relations Board:
Craig R. Smiddy: President and Chief Executive Officer
Wall Street analysts forecast that Old Republic International (ORI - Free Report) will report quarterly earnings of $0.79 per share in its upcoming release, pointing to a year-over-year decline of 2.5%. It is anticipated that revenues will amount to $2.27 billion, exhibiting an increase of 10.2% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Old Republic metrics that are commonly tracked and projected by analysts on Wall Street.
The combined assessment of analysts suggests that 'Operating Revenue- Specialty Insurance Segment- Net premiums earned' will likely reach $1.37 billion. The estimate indicates a year-over-year change of +11.1%.
The consensus among analysts is that 'Operating Revenue- Specialty Insurance Segment- Net investment income' will reach $158.29 million. The estimate indicates a change of +5.5% from the prior-year quarter.
The consensus estimate for 'Operating Revenue- Specialty Insurance Segment- Other income' stands at $48.73 million. The estimate suggests a change of +3.5% year over year.
According to the collective judgment of analysts, 'Operating Revenue- Corporate & Other' should come in at $6.25 million. The estimate indicates a change of +0.8% from the prior-year quarter.
Analysts forecast 'Operating Revenue- Title Insurance Segment- Net investment income' to reach $18.04 million. The estimate indicates a change of +8% from the prior-year quarter.
Based on the collective assessment of analysts, 'Operating Revenue- Specialty Insurance Segment' should arrive at $1.58 billion. The estimate indicates a year-over-year change of +10.2%.
Analysts' assessment points toward 'Specialty Insurance Segment - Loss Ratio' reaching 63.5%. Compared to the current estimate, the company reported 65.0% in the same quarter of the previous year.
The average prediction of analysts places 'Specialty Insurance Segment - Expense Ratio' at 28.5%. The estimate is in contrast to the year-ago figure of 28.1%.
The collective assessment of analysts points to an estimated 'Title Insurance Segment - Combined Ratio' of 100.7%. The estimate compares to the year-ago value of 102.1%.
It is projected by analysts that the 'Title Insurance Segment - Loss Ratio' will reach 2.5%. The estimate is in contrast to the year-ago figure of 3.5%.
Analysts predict that the 'Title Insurance Segment - Expense Ratio' will reach 98.2%. The estimate is in contrast to the year-ago figure of 99.4%.
Analysts expect 'Specialty Insurance Segment - Combined Ratio' to come in at 92.0%. The estimate is in contrast to the year-ago figure of 89.8%.
View all Key Company Metrics for Old Republic here>>>
Shares of Old Republic have demonstrated returns of +11.1% over the past month compared to the Zacks S&P 500 composite's +9.3% change. With a Zacks Rank #3 (Hold), ORI is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
, /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) today reported the following results for the first quarter 2026:
Net income of $330.0 million, compared to $245.0 million last year. Net income excluding investment gains (net operating income) of $170.5 million, compared to $201.7 million last year. Net operating income per diluted share of $0.68, compared to $0.81 last year. Consolidated net premiums and fees earned of $1.97 billion, compared to nearly $1.85 billion last year. Net investment income of $178.0 million, compared to $170.7 million last year. Consolidated combined ratio of 96.6%, compared to 93.7% last year. Favorable loss reserve development of 1.5 points, compared to 2.6 points last year. Book value per share of $24.53, inclusive of dividends declared, up 2.6% since year-end 2025. Annualized operating return on equity of 11.5%. Total capital returned to shareholders of $237.5 million. Dollar amounts (other than per share amounts) are presented in millions, except as otherwise indicated.
OVERALL RESULTS ATTRIBUTABLE TO SHAREHOLDERS
Quarters Ended March 31,
2026
2025
% Change
Net income
$ 330.0
$ 245.0
Net of tax investment gains
159.4
43.2
Net income excluding investment gains
$ 170.5
$ 201.7
(15.4) %
Combined ratio
96.6 %
93.7 %
PER DILUTED SHARE ATTRIBUTABLE TO SHAREHOLDERS
Quarters Ended March 31,
2026
2025
% Change
Net income
$ 1.32
$ 0.98
Net of tax investment gains
0.64
0.17
Net income excluding investment gains
$ 0.68
$ 0.81
(15.4) %
SHAREHOLDERS' EQUITY (BOOK VALUE)
Mar. 31,
Dec. 31,
2026
2025
% Change
Total
$ 5,911.9
$ 5,914.0
— %
Per common share
$ 24.53
$ 24.21
1.3 %
Old Republic's business is managed for the long run. In this context, management's key objectives are to achieve highly profitable operating results over the long term, and to ensure balance sheet strength for the Company's obligations. Although Generally Accepted Accounting Principles (GAAP) uses net income as the measure of total profitability, management uses net income excluding net investment gains (losses) (net operating income), a non-GAAP financial measure, in its evaluation of periodic and long-term results.
In management's opinion, excluding investment gains (losses) from income provides a better way to analyze, evaluate, and establish accountability for the results of the insurance operations. The inclusion of realized investment gains (losses) in net income can mask trends in operating results because such realizations are often highly discretionary. Similarly, the inclusion of unrealized investment gains (losses) in equity securities can further distort such operating results with significant period-to-period fluctuations that are unrelated to the insurance operations. Net operating income, however, does not replace GAAP net income as a measure of total profitability.
FINANCIAL HIGHLIGHTS
Quarters Ended March 31,
SUMMARY INCOME STATEMENTS:
2026
2025
% Change
Revenues:
Net premiums and fees earned
$ 1,972.2
$ 1,841.0
7.1 %
Net investment income
178.0
170.7
4.3
Other income
47.3
47.2
0.2
Total operating revenues
2,197.6
2,059.0
6.7
Net investment gains:
Realized from actual transactions and impairments
85.3
37.4
Unrealized from changes in fair value of equity securities
116.4
17.6
Total net investment gains
201.8
55.0
Total revenues
2,399.4
2,114.0
Operating expenses:
Loss and loss adjustment expenses
840.2
777.7
8.0
Underwriting, acquisition, and other expenses
1,128.0
1,010.7
11.6
Interest and other charges
17.7
17.8
(0.5)
Total expenses
1,986.0
1,806.3
10.0 %
Pretax income
413.4
307.7
Income taxes
83.8
61.6
Total net income
329.5
246.1
Net income (loss) attributable to noncontrolling interests
(0.5)
1.1
Net income attributable to shareholders
$ 330.0
$ 245.0
COMMON STOCK STATISTICS:
Components of net income per share:
Basic net income excluding investment gains
$ 0.70
$ 0.83
(15.1) %
Net investment gains:
Realized investment gains
0.28
0.12
Unrealized from changes in fair value of equity securities
0.38
0.06
Basic net income
$ 1.36
$ 1.01
Diluted net income excluding investment gains
$ 0.68
$ 0.81
(15.4) %
Net investment gains:
Realized investment gains
0.27
0.12
Unrealized from changes in fair value of equity securities
0.37
0.05
Diluted net income
$ 1.32
$ 0.98
Dividends declared on common stock
$ 0.315
$ 0.290
8.6 %
The information presented in the following table highlights the most meaningful indicators of Old Republic's segmented and consolidated financial performance. The information underscores the performance of the Company's operating companies, as well as the sound investment of their capital and underwriting cash flows.
Sources of Consolidated Income
Quarters Ended March 31,
2026
2025
% Change
Net premiums and fees earned:
Specialty Insurance
$ 1,291.8
$ 1,233.6
4.7 %
Title Insurance
677.8
605.1
12.0
Corporate & Other
2.4
2.2
7.6
Consolidated
$ 1,972.2
$ 1,841.0
7.1 %
Underwriting income (loss): (a)
Specialty Insurance
$ 67.2
$ 126.1
(46.7) %
Title Insurance
(0.5)
(12.2)
95.2
Corporate & Other
(15.4)
(14.0)
(9.4)
Consolidated
$ 51.2
$ 99.8
(48.7) %
Net investment income:
Specialty Insurance
$ 158.1
$ 150.0
5.4 %
Title Insurance
17.4
16.7
4.4
Corporate & Other
2.4
3.9
(38.1)
Consolidated
$ 178.0
$ 170.7
4.3 %
Interest and other charges:
Specialty Insurance
$ 16.2
$ 16.0
Title Insurance
0.1
0.1
Corporate & Other (b)
1.3
1.6
Consolidated
$ 17.7
$ 17.8
(0.5) %
Pretax income (loss) excluding investment gains:
Specialty Insurance
$ 209.0
$ 260.1
(19.6) %
Title Insurance
16.7
4.3
284.5
Corporate & Other
(14.3)
(11.8)
(21.1)
Consolidated
211.5
252.7
(16.3) %
Income taxes
41.4
49.8
Net income excluding investment gains
170.0
202.8
(16.2) %
Consolidated pretax investment gains:
Realized from actual transactions and impairments
85.3
37.4
Unrealized from changes in fair value of equity securities
116.4
17.6
Total
201.8
55.0
Income taxes
42.4
11.7
Net of tax investment gains
159.4
43.2
Total net income
329.5
246.1
Net income (loss) attributable to noncontrolling interests
(0.5)
1.1
Net income attributable to shareholders
$ 330.0
$ 245.0
(a) Includes related services.
(b) Includes consolidation/elimination entries.
Specialty Insurance Segment Operating Results
Quarters Ended March 31,
2026
2025
% Change
Revenues:
Net premiums written
$ 1,315.3
$ 1,272.0
3.4 %
Net premiums earned
1,291.8
1,233.6
4.7
Other income
47.1
47.1
0.2
Expenses:
Loss and loss adjustment expenses
821.9
761.0
8.0
Underwriting, acquisition, and other expenses
449.9
393.5
14.3
Segment underwriting income
67.2
126.1
(46.7)
Add: Net investment income
158.1
150.0
5.4
Less: Interest and other charges
16.2
16.0
1.7
Segment pretax operating income
$ 209.0
$ 260.1
(19.6) %
Loss ratio:
Current year
65.2 %
65.0 %
Prior years
(1.6)
(3.3)
Total
63.6
61.7
Expense ratio
31.2
28.1
Combined ratio
94.8 %
89.8 %
Specialty Insurance net premiums earned increased 4.7%. Growth was driven by a combination of premium rate increases and new business production, including an increasing contribution from new operating companies, partially offset by a decline in renewal retention ratios. Retention ratios were affected by the continued prioritization of rate, in particular within commercial auto and general liability lines where significant rate increases were achieved. Premium growth was most pronounced within commercial auto, property, accident & health, and general liability coverages while the most notable decline came from Canadian travel accident and trucking.
The net investment income increase was driven by a higher invested asset base, along with higher investment yields earned.
The Specialty Insurance loss ratio is higher due to lower levels of favorable prior year loss reserve development while the current year loss ratio remained consistent. Favorable prior year development came predominately from commercial auto, workers' compensation, and property, partially offset by modest unfavorable development in general liability. The expense ratio is elevated due to continued investments in start-up operating companies which are not at scale, information technology modernization, data analytics, and artificial intelligence, including the additional personnel costs to manage all of these key initiatives. Several of the information technology modernization efforts are entering a phase in which costs are being amortized while the systems being replaced are not yet decommissioned.
Together, these factors produced a profitable combined ratio and strong pretax operating income. For Specialty Insurance, combined ratios between 90% and 95% are targeted over a full underwriting cycle, recognizing that quarterly and annual ratios and trends may deviate from this range, particularly with long-tailed lines of coverage.
Old Republic's previously announced proposed acquisition of Everett Cash Mutual Insurance Co. (ECM) and affiliated companies following its conversion to a stock company in a sponsored demutualization transaction has received regulatory approval, and is expected to close early in the third quarter 2026 upon receipt of policyholder approval and completion of all customary and regulatory closing conditions. Upon closing, ECM will be reported within the Specialty Insurance segment operating results.
Title Insurance Segment Operating Results
Quarters Ended March 31,
2026
2025
% Change
Revenues:
Net premiums earned
$ 618.9
$ 546.9
13.2 %
Title, escrow, and other fees
58.9
58.1
1.3
Net premiums and fees earned
677.8
605.1
12.0
Other income
0.1
0.1
N/M
Expenses:
Loss and loss adjustment expenses
17.4
16.0
8.7
Underwriting, acquisition, and other expenses
661.1
601.4
9.9
Segment underwriting loss
(0.5)
(12.2)
95.2
Add: Net investment income
17.4
16.7
4.4
Less: Interest and other charges
0.1
0.1
N/M
Segment pretax operating income
$ 16.7
$ 4.3
284.5 %
Loss ratio:
Current year
3.7 %
3.5 %
Prior years
(1.1)
(0.8)
Total
2.6
2.7
Expense ratio
97.5
99.4
Combined ratio
100.1 %
102.1 %
Title Insurance net premiums and fees earned increased 12.0% for the quarter. Both agency and directly produced premiums experienced solid growth and strong commercial business production. Commercial premiums represented 27% of net premiums earned compared to 24% in the first quarter of last year. Title, escrow, and other fees were up slightly, as the decrease in fees from the sale of certain technology platforms in the first quarter 2025 was offset by growth in escrow and closing service fees.
Net investment income increased primarily due to higher investment yields earned on a slightly higher invested asset base.
The Title Insurance loss ratio remained consistent with last year, reflecting a higher level of favorable prior year loss reserve development offset by slightly higher current year losses. The expense ratio continues to benefit from expense management and scale, partially offset by a higher amount of agent commissions primarily due to greater amounts of agency business compared to the direct operation.
Together, these factors produced higher pretax operating income. For Title Insurance, combined ratios between 90% to 95% are targeted over a full underwriting cycle, recognizing that quarterly and annual ratios and trends may deviate from this range. Although Title Insurance has been navigating a difficult real estate environment over the last few years resulting in ratios in excess of this range, they continue to strive to come into range in the near term.
Corporate & Other Operating Results
Quarters Ended March 31,
2026
2025
% Change
Net premiums earned
$ 2.4
$ 2.2
7.6 %
Net investment income (a)
2.4
3.9
(38.1)
Operating revenues
4.8
6.2
(21.5)
Operating expenses
19.1
18.0
6.4
Corporate & Other pretax operating loss
$ (14.3)
$ (11.8)
(21.1) %
(a) Net of elimination entries.
Corporate & Other includes a small life and accident insurance business, the parent holding company, and several internal corporate services subsidiaries. Net investment income was impacted by a lower invested asset base due to the return of capital to shareholders, including the January 2026 special dividend payment.
Consolidated Balance Sheets
March 31,
December 31,
2026
2025
Assets:
Fixed income securities (at fair value)
$ 12,802.6
$ 12,709.8
Equity securities (at fair value)
2,527.7
2,487.7
Short-term investments (at fair value which approximates cost)
1,044.9
1,613.6
Other investments
18.2
27.7
Cash
202.1
263.2
Accrued investment income
129.9
141.1
Accounts and notes receivable
2,783.3
2,782.2
Reinsurance balances and funds held
403.0
404.5
Reinsurance recoverable
7,942.8
7,740.2
Deferred policy acquisition costs
659.1
636.2
Other assets
1,081.9
1,055.9
Total assets
$ 29,596.0
$ 29,862.7
Liabilities and Equity:
Loss and loss adjustment expense reserves
$ 14,954.8
$ 14,775.7
Unearned premiums
4,099.5
3,982.5
Other policyholders' benefits and funds held
176.6
177.8
Commissions, expenses, fees, and taxes
553.2
601.8
Reinsurance balances and funds held
1,440.8
1,428.0
Federal income tax: Deferred
210.6
219.3
Debt
1,590.2
1,589.9
Other liabilities
644.6
1,158.7
Total liabilities
23,670.5
23,934.2
Total shareholders' equity
5,911.9
5,914.0
Noncontrolling interests
13.4
14.4
Total equity
5,925.4
5,928.4
Total liabilities and equity
$ 29,596.0
$ 29,862.7
Investments
As of March 31, 2026, the consolidated investment portfolio reflected an allocation of approximately 85% to fixed income securities (bonds and notes) and short-term investments, and 15% to equity securities (common and preferred stocks). The investment management process remains focused on retaining quality investments that produce consistent streams of investment income, while monitoring concentration limits among the operating companies. The fixed income portfolio continues to be the anchor for the operating companies' obligations. The maturities of the fixed income securities are generally matched to the expected liabilities for claim payment obligations to policyholders and their beneficiaries. The equity portfolio consists of high-quality common stocks of U.S. companies with long-term records of reasonable earnings growth and steadily increasing dividends.
Old Republic's investment portfolio is focused on ensuring solid funding of the operating companies' obligations to policyholders and their beneficiaries, as well as the long-term stability of the subsidiaries' capital base. For these reasons, the investment portfolio has extremely limited exposure to high risk or illiquid asset classes such as limited partnerships, derivatives, hedge funds or private equity investments. In addition, the Company does not engage in hedging or securities lending transactions, nor does it invest in securities with values predicated on non-regulated financial instruments with unfunded counter-party risk attributes. Old Republic performs regular stress tests of the investment portfolio to gain reasonable assurance that periodic downdrafts in market prices do not undermine the Company's financial strength.
Shareholders' Equity Per Share
Changes in shareholders' equity per share are reflected in the following table. These changes resulted mostly from net operating income, realized and unrealized investment gains (losses), and dividends to shareholders declared during the year.
Quarters Ended Mar. 31,
2026
2025
Beginning balance
$ 24.21
$ 22.84
Changes in shareholders' equity:
Net income excluding net investment gains
0.70
0.83
Net of tax realized investment gains
0.28
0.12
Net of tax unrealized investment gains (losses):
Fixed income securities
(0.47)
0.46
Equity securities
0.38
0.06
Total net of tax realized and unrealized investment gains
0.19
0.64
Dividends declared
(0.315)
(0.290)
Other – net
(0.26)
0.17
Net change
0.32
1.35
Ending balance
$ 24.53
$ 24.19
Change for the period
1.3 %
5.9 %
Change for the period, inclusive of dividends declared
2.6 %
7.2 %
Total capital returned to shareholders during the quarter was $237.5, comprised of $76.7 in dividends and $160.7 in share repurchases.
Financial Supplement
A financial supplement to this news release is available on the Company's website: www.oldrepublic.com
Conference Call Information
Old Republic has scheduled a conference call at 3:00 p.m. ET (2:00 p.m. CT) today to discuss its first quarter 2026 performance and to review major operating trends and business developments. The call can be accessed live on Old Republic's website at www.oldrepublic.com or by dialing 1-800-715-9871, passcode 8649152. Interested parties may also listen to a replay of the call through April 30, 2026 by dialing 1-800-770-2030, passcode 8649152, or by accessing it on Old Republic's website.
About Old Republic
Old Republic is a leading specialty insurer that operates diverse property & casualty and title insurance companies. Founded in 1923 and a member of the Fortune 500, we are a leader in underwriting and risk management services for business partners across the United States and Canada. Our specialized operating companies are experts in their fields, enabling us to provide tailored solutions that set us apart. For more information, please visit www.oldrepublic.com.
Forward-Looking Statements
Some of the oral or written statements made in the Company's reports, press releases, and conference calls following earnings releases, can constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally include words such as "expect," "predict," "estimate," "will," "should," "anticipate," "believe," and similar expressions. Any such forward-looking statements involve assumptions, uncertainties, and risks that may affect the Company's future performance.
Historical data pertaining to the operating results, liquidity, and other performance indicators applicable to an insurance enterprise such as Old Republic are not necessarily indicative of results to be achieved in succeeding years. In addition to the factors cited below, the long-term nature of the insurance business, seasonal and annual patterns in premium production and incidence of claims, changes in yields obtained on invested assets, changes in government policies and free markets affecting inflation rates and general economic conditions, and changes in legal precedents or the application of law affecting the settlement of disputed and other claims can have a bearing on period-to-period comparisons and future operating results.
Old Republic's Specialty Insurance segment results can be affected by the level of market competition, which is typically a function of available capital and expected returns on such capital among competitors; general economic considerations, including the levels of investment yields, inflation rates, and the impacts of tariffs; periodic changes in claim frequency and severity patterns caused by natural disasters, weather conditions, accidents, illnesses, and work-related injuries; claims development and the impact on loss reserves; adequacy and availability of reinsurance; uncertainties in underwriting and pricing risks; and unanticipated external events. Old Republic's Title Insurance segment results can be affected by similar factors, and by changes in national and regional housing demand and values, the availability and cost of mortgage loans, and employment trends. Life and accident insurance earnings can be affected by the levels of employment and consumer spending, changes in mortality and health trends, and alterations in policy lapsation rates. At the parent holding company level, operating earnings or losses are generally reflective of the amount of debt outstanding and its cost, interest income, the levels of investments held, and period-to-period variations in the costs of administering the Company's widespread operations. In addition, results could be particularly affected by technology and security breaches or failures, including cybersecurity incidents.
A more detailed listing and discussion of the risks and other factors which affect the Company's risk-taking insurance business are included in Part I, Item 1A - Risk Factors, of the Company's 2025 Form 10-K, and the various risks, uncertainties, and other factors that are included from time to time in other Securities and Exchange Commission filings.
Any forward-looking statements or commentaries speak only as of their dates. Old Republic undertakes no obligation to publicly update or revise any and all such comments, whether as a result of new information, future events or otherwise, and accordingly they may not be unduly relied upon.
At Old Republic:
At Financial Relations Board:
Craig R. Smiddy, President and Chief Executive Officer
Analysts/Investors: Joe Calabrese/[email protected]
Old Republic International (ORI - Free Report) came out with quarterly earnings of $0.68 per share, missing the Zacks Consensus Estimate of $0.79 per share. This compares to earnings of $0.81 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -13.38%. A quarter ago, it was expected that this insurance underwriter would post earnings of $0.89 per share when it actually produced earnings of $0.74, delivering a surprise of -16.85%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Old Republic, which belongs to the Zacks Insurance - Multi line industry, posted revenues of $2.2 billion for the quarter ended March 2026, missing the Zacks Consensus Estimate by 3.18%. This compares to year-ago revenues of $2.06 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Old Republic shares have lost about 7.8% since the beginning of the year versus the S&P 500's gain of 4.3%.
What's Next for Old Republic?While Old Republic has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Old Republic was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.81 on $2.39 billion in revenues for the coming quarter and $3.25 on $9.72 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Multi line is currently in the bottom 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Markel Group (MKL - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026.
This insurer is expected to post quarterly earnings of $26.38 per share in its upcoming report, which represents a year-over-year change of +2.6%. The consensus EPS estimate for the quarter has been revised 6% higher over the last 30 days to the current level.
Markel Group's revenues are expected to be $3.7 billion, up 4.3% from the year-ago quarter.
Old Republic International (ORI - Free Report) reported $2.2 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 6.7%. EPS of $0.68 for the same period compares to $0.81 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.27 billion, representing a surprise of -3.18%. The company delivered an EPS surprise of -13.38%, with the consensus EPS estimate being $0.79.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Old Republic performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Specialty Insurance Segment - Loss Ratio: 63.6% compared to the 63.5% average estimate based on two analysts.Specialty Insurance Segment - Expense Ratio: 31.2% versus 28.5% estimated by two analysts on average.Title Insurance Segment - Combined Ratio: 100.1% versus the two-analyst average estimate of 100.7%.Title Insurance Segment - Loss Ratio: 2.6% compared to the 2.5% average estimate based on two analysts.Operating Revenue- Specialty Insurance Segment- Net premiums earned: $1.29 billion versus $1.37 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.Operating Revenue- Specialty Insurance Segment- Net investment income: $158.1 million versus $158.29 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +5.4% change.Operating Revenue- Specialty Insurance Segment- Other income: $47.1 million versus $48.73 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a 0% change.Operating Revenue- Corporate & Other: $4.8 million compared to the $6.25 million average estimate based on two analysts. The reported number represents a change of -22.6% year over year.Operating Revenue- Title Insurance Segment- Net investment income: $17.4 million versus the two-analyst average estimate of $18.04 million. The reported number represents a year-over-year change of +4.2%.Operating Revenue- Specialty Insurance Segment: $1.5 billion versus the two-analyst average estimate of $1.58 billion. The reported number represents a year-over-year change of +4.6%.Operating Revenue- Title Insurance Segment: $695.2 million versus the two-analyst average estimate of $685.85 million. The reported number represents a year-over-year change of +11.8%.Operating Revenue- Title Insurance Segment- Net premiums earned: $618.9 million versus the two-analyst average estimate of $667.76 million. The reported number represents a year-over-year change of +2.3%.View all Key Company Metrics for Old Republic here>>>
Shares of Old Republic have returned +6.9% over the past month versus the Zacks S&P 500 composite's +9.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
, /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) today announced a brand refresh that highlights the specialty expertise and collective strength of its operating companies. The refresh introduces a modernized corporate logo and an expanded visual system that enhances consistency and clarity with customers and distribution partners. These updates are incorporated into its website at www.oldrepublic.com, highlighting the breadth of Old Republic's operating companies and the specialty expertise each brings to its respective market.
As part of the update, operating companies will adopt Old Republic's modernized logo and visual changes. In addition, several operating companies will adopt updated brand names that reflect their identities while emphasizing their shared connection within Old Republic's decentralized environment. These include:
Old Republic Commercial Risk, formerly known as PMA Companies Old Republic Bitco, formerly known as BITCO Insurance Companies Great West, An Old Republic Company, formerly known as Great West Casualty Company Old Republic Alternative Markets, formerly known as Old Republic Specialty Insurance Underwriters Old Republic Home Warranty, formerly known as Old Republic Home Protection Old Republic Auto Warranty, formerly known as Old Republic Insured Automotive Services Implementation will roll out throughout the year, including updates to marketing materials, digital properties, signage, business correspondence, and certain legal entity names.
None of the newly announced changes will affect the insurance companies listed on policies, which will retain their existing insurance company names.
Old Republic's refreshed brand will be officially launched at RISKWORLD, sponsored by RIMS, running May 3-6 in Philadelphia. At this key industry event, and throughout the 2026 rollout, Old Republic will highlight its unique collection of specialty operating companies brought together under a common brand identity that reinforces our collective strength.
About Old Republic
Old Republic is a leading specialty insurer that operates diverse property & casualty and title insurance companies. Founded in 1923 and a member of the Fortune 500®, we are a leader in underwriting and risk management services for business partners across the United States and Canada. Our specialized operating companies offer significant expertise in their fields, enabling us to provide tailored solutions that set us apart. For more information, please visit www.oldrepublic.com.
At Old Republic:
At Financial Relations Board:
Craig R. Smiddy: President and Chief Executive Officer
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) today announced its Board of Directors has declared a regular quarterly dividend of 31.5 cents per share. This dividend is payable on June 15, 2026 to shareholders of record on June 5, 2026. Subject to Board approval of each quarter's new rate, the full year's dividend will amount to $1.26 per share compared to $1.16 per share paid in 2025, an 8.6% increase.
2026 marks the 45th consecutive year that Old Republic has increased its regular dividend and the 85th year of uninterrupted regular dividend payments.
About Old Republic
Old Republic is a leading specialty insurer that operates diverse property & casualty and title insurance companies. Founded in 1923 and a member of the Fortune 500®, we are a leader in underwriting and risk management services for business partners across the United States and Canada. Our specialized operating companies offer significant expertise in their fields, enabling us to provide tailored solutions that set us apart. For more information, please visit www.oldrepublic.com.
At Old Republic:
At Financial Relations Board:
Craig R. Smiddy: President and Chief Executive Officer
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