OLD REPUBLIC ANNOUNCES THE ADDITION OF J. ERIC SMITH TO THE BOARD OF DIRECTORS

Rhea-AI Summary

Old Republic International Corporation (NYSE: ORI) appointed J. Eric Smith to its Board of Directors on March 17, 2023. Smith, aged 65, brings extensive experience from leadership roles including President and CEO of Swiss Re Americas. He will serve on the Compensation and Governance Committees, as well as the Directorship of ORI's regulated insurance subsidiaries. This addition expands ORI's Board diversity, having welcomed seven new members over five years, while five departed. ORI ranks among the top 50 largest shareholder-owned insurance businesses in the U.S., highlighting its significant market position.

Positive

• J. Eric Smith's extensive industry experience may enhance strategic decision-making.
• Smith's appointment continues to strengthen board diversity with high qualifications.

Negative

• Concerns about continuity with recent changes in board composition.

CHICAGO, March 17, 2023 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) today announced J. Eric Smith (65) has joined its Board of Directors as of March 17, 2023.  He has concurrently been appointed to the Board's Compensation and Governance and Nominating Committees, as well as to the Directorship of ORI's major regulated insurance company subsidiaries.

Prior to his retirement, Mr. Smith served as President and Chief Executive Officer of Swiss Re Americas and was a member of Swiss Re's Group Executive Committee.  Further, he was previously President of USAA Life Insurance Co and President of Allstate Financial Services.  In making the announcement, Spencer LeRoy, Chairman of the Board, noted "our Company will benefit greatly from J. Eric Smith's insurance, reinsurance, and executive management experience and we are most grateful and pleased with his acceptance to join us."

Including J. Eric Smith, ORI has added seven new, highly qualified individuals to ORI and its major regulated insurance company subsidiaries' Board of Directors in the last 5 years.  In the same time frame, five Directors have departed from the Board.  ORI continues to make significant progress to provide greater diversity of talents, profession, and other backgrounds to the Board. 

About Old Republic

Chicago-based Old Republic International Corporation is one of the nation's 50 largest shareholder-owned insurance businesses. It is a member of the Fortune 500 listing of America's largest companies. The Company is organized as an insurance holding company whose subsidiaries actively market, underwrite, and provide risk management services for a wide variety of coverages mostly in the general and title insurance fields. Old Republic's general insurance business ranks among the nation's 50 largest, while its title insurance business is the third largest in its industry.

At Old Republic:	At Financial Relations Board:
Craig R. Smiddy, President and CEO	Analysts/Investors: Joe Calabrese 212/827-3772

 

For Old Republic's latest news releases and other corporate documents: Please visit us at www.oldrepublic.com
Alternatively, please write or call:  Investor Relations Old Republic International Corporation 307 North Michigan Avenue, Chicago, IL 60601  (312) 346-8100

 

View original content:https://www.prnewswire.com/news-releases/old-republic-announces-the-addition-of-j-eric-smith-to-the-board-of-directors-301775162.html

SOURCE Old Republic International Corporation

FAQ

Who is J. Eric Smith?

J. Eric Smith is the newly appointed member of Old Republic's Board of Directors, bringing significant insurance industry experience.

What committees will J. Eric Smith serve on at Old Republic?

Smith will serve on the Board's Compensation and Governance Committees.

When was J. Eric Smith appointed to the Board of Directors?

J. Eric Smith was appointed on March 17, 2023.

How many new members have joined Old Republic's Board in recent years?

In the past five years, Old Republic has added seven new members to its Board of Directors.

What is Old Republic's position in the insurance industry?

Old Republic is one of the nation's 50 largest shareholder-owned insurance businesses.