Welcome to our dedicated page for Old Republic International Corporation news (Ticker: ORI), a resource for investors and traders seeking the latest updates and insights on Old Republic International Corporation stock.
Old Republic International Corporation (NYSE: ORI) is a prominent insurance holding company based in Chicago, tracing its origins back to 1923. As one of the nation's 50 largest shareholder-owned insurance enterprises, it is a member of the esteemed Fortune 500 list of America’s largest companies. The company operates through a decentralized model, emphasizing specialization by type of insurance coverage, industry, and economic sector.
Core Business Segments
- General Insurance: This segment includes a diverse range of products such as Automobile Extended Warranty Insurance, Aviation, Commercial Automobile Insurance, Inland Marine, Travel Accident, Workers' Compensation, and Financial Indemnity among others. It is one of the top 50 largest general insurance businesses in the United States.
- Title Insurance: Old Republic's Title Insurance segment is the third largest in its field. This business primarily issues policies to real estate purchasers and investors based on search results of public records concerning property interests.
- Republic Financial Indemnity Group (RFIG) Run-off: This segment involves the financial indemnity business that is in run-off mode.
Recent Achievements and Developments
In response to market demands, Old Republic recently announced the formation of a new underwriting subsidiary, Old Republic Accident & Health, Inc., focusing on specialized coverages like employers stop loss. This move aligns with the company’s specialized approach and focus on underwriting excellence.
Financial Performance
Old Republic has consistently demonstrated robust financial health. For the third quarter of 2023, the company's general insurance pretax operating income rose by 28.6%, driven by solid underwriting income and higher net investment income. Despite challenges in the title insurance segment due to higher mortgage interest rates, the general insurance segment’s performance has been strong, reflecting a 10.6% growth in net premiums earned for the quarter.
Investor Relations
Old Republic remains committed to delivering value to its shareholders. In recent years, the company has returned substantial capital to shareholders through dividends and share repurchases. In 2023, Old Republic executed approximately $684 million in capital returns, highlighting its strong balance sheet and confidence in future growth.
Partnerships and Expansion
Old Republic continues to strategically expand its portfolio by launching new subsidiaries and entering new market segments. The establishment of Old Republic Accident & Health, Inc. marks the sixth new company launched in the past eight years, further diversifying its risk portfolio and enhancing its market position.
Conclusion
With a history of nearly a century, Old Republic International Corporation is a solid pillar in the insurance industry, offering a wide range of specialized insurance products. The company's dedication to prudent risk management, long-term focus, and entrepreneurial spirit positions it well for sustained growth and stability. Investors and stakeholders can access further information and updates on the company's website or through regular financial disclosures.
Old Republic International (NYSE: ORI) reported its Q4 and full-year 2024 results. Fourth quarter net income per diluted share was $0.42, down from $0.69 last year, while net operating income per diluted share increased to $0.90 from $0.69. The company achieved consolidated pretax operating income of $285.0M for Q4 and $999.8M for the full year.
Key highlights include: consolidated net premiums and fees earned increased 11.4% in Q4 and 9.0% for the full year; net investment income grew 9.8% in Q4 and 16.4% annually; Q4 consolidated combined ratio improved to 92.7% from 93.3% last year. The company returned $733M to shareholders during Q4 and $1,708M during 2024 through dividends and share repurchases. Book value per share was $22.84, up 11.1% including dividends declared (including a special $2.00 per share dividend).
Old Republic International (NYSE: ORI) has announced its upcoming fourth quarter 2024 financial results release and conference call schedule. The company will release its Q4 2024 results before market opening on Thursday, January 23. A conference call to discuss the results is scheduled for 3:00 p.m. Eastern time on the same day.
Investors can access the call live through Old Republic's website or by dialing 888-510-2411 with passcode 4060501. A replay will be available until January 30, 2025, accessible via phone at 1-800-770-2030 using the same passcode, or through the company's website.
Old Republic International (NYSE: ORI) announced the formation of a new underwriting subsidiary, Old Republic Cyber, Inc., focused on providing Cyber and Technology Errors and Omission (E&O) insurance products. The company appointed CJ Pruzinsky as President and Kevin McGowan as Executive Vice President and Chief Underwriting Officer, both bringing extensive cyber underwriting experience from companies like AIG, Beazley, and Resilience.
CEO Craig R. Smiddy emphasized that this expansion aligns with their specialty strategy and focus on underwriting excellence. This marks Old Republic's seventh new specialty company launch in the past nine years, further diversifying the Old Republic General Insurance Group's portfolio.
Old Republic International (NYSE: ORI) has declared a special cash dividend of $2.00 per share, payable on January 15, 2025, to shareholders of record on January 3, 2025, returning approximately $500 million to shareholders. The company has purchased $174 million under a $1.1 billion share repurchase program, with $240 million remaining available.
Since December 31, 2019, ORI has returned over $4 billion to shareholders through share repurchases and dividends. The company's current annualized regular cash dividend rate of $1.06 per share represents an 8.2% increase from 2023, marking the 43rd consecutive year of dividend increases and 83rd year of uninterrupted regular dividend payments.
Old Republic International (NYSE: ORI) announced a quarterly cash dividend of 26.5 cents per share, payable on December 16, 2024, to shareholders of record on December 6, 2024. The full year's cash dividend totals $1.06 per share, representing an 8.2% increase from 2023's 98 cents per share. This marks the company's 43rd consecutive year of dividend increases and 83rd year of uninterrupted regular cash dividend payments.
Old Republic International (NYSE: ORI) reported Q3 2024 results with pretax income of $426.9 million, up significantly from $63.9 million in Q3 2023. Net income was $338.9 million ($1.32 per diluted share) compared to $52.6 million ($0.19) last year. Excluding investment gains/losses, net operating income was $182.7 million ($0.71 per share) vs $200.2 million ($0.72) in Q3 2023.
Key highlights include: consolidated net premiums and fees earned increased 9.6%, net investment income rose 17.3%, and the combined ratio was 95.0%. Book value per share reached $25.71, up 13.7% year-to-date. The company returned $232 million to shareholders through dividends and share repurchases during the quarter.
Old Republic International (NYSE: ORI) has announced its upcoming financial results release and conference call for the third quarter of 2024. The company will report its financial results before the market opens on Thursday, October 24. Following the release, ORI will host a conference call at 3:00 p.m. Eastern time to discuss the results.
Investors and interested parties can access the call live through Old Republic's website at www.oldrepublic.com or by dialing 800-715-9871 with passcode 4060501. For those unable to attend the live call, a replay will be available until October 31, 2024, accessible by dialing 1-800-770-2030 with the same passcode. The replay will also be available on the company's website.
Old Republic International (NYSE: ORI) has declared a regular quarterly cash dividend of 26.5 cents per share, payable on September 16, 2024, to shareholders of record on September 6, 2024. This announcement marks the 43rd consecutive year of dividend increases and the 83rd year of uninterrupted regular cash dividend payments for the company.
Subject to Board approval each quarter, the full year's cash dividend for 2024 will amount to $1.06 per share, representing an 8.2% increase from the 98 cents per share paid in 2023. This consistent dividend growth demonstrates Old Republic's commitment to delivering value to its shareholders.
Old Republic International (NYSE: ORI) reported results for Q2 and the first half of 2024. Q2 pretax income excluding investment gains was $253.8M, up 11.6% YoY, while H1 pretax income was $485.4M, up 7.8% YoY. Net income for Q2 was $91.8M, down from $155.5M YoY; H1 net income was $408.6M, up from $355.4M. Q2 net operating income per diluted share was $0.76, a 22.6% increase. General Insurance pretax operating income rose by 9.9% in Q2, while Title Insurance saw a 32.5% increase. Net premiums and fees earned grew by 9.0% in Q2. However, investment losses were substantial, with pretax investment losses of $140.5M. The combined ratio for Q2 was 93.5%, up from 92.6% YoY. Book value per share increased to $23.59. Despite some positive metrics, a significant decline in investment gains impacted overall profitability.
Old Republic International (NYSE: ORI) announced it will release its second-quarter 2024 financial results on Thursday, July 25, 2024, before the market opens. The company will host a conference call at 3:00 p.m. Eastern time to discuss the results. Investors can access the call live on Old Republic's website or by dialing 1-888-510-2411 with passcode 4060501. A replay of the call will be available until August 1, 2024, by dialing 1-800-770-2030 with the same passcode, and on the company’s website.
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