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 Corporation (NYSE: ORI) reported mixed financial results for Q3 and the first nine months of 2021. Pretax income decreased to $106 million from $307 million year-over-year, while net income fell to $89 million from $246 million. However, the company saw a strong increase in operating performance, with net income excluding investment gains rising by 32% in Q3. Net premiums and fees earned grew by 18.6% for the quarter and 21.7% for nine months. Book value per share improved to $20.96, highlighting ongoing long-term growth strategies.
Old Republic International Corporation (NYSE: ORI) is set to hold a conference call on October 28, 2021, at 3:00 p.m. Eastern time to discuss its third-quarter results. The call will be available on the company's website and via phone at 1-888-655-9638. A replay will be accessible until November 4, 2021. Old Republic, based in Chicago, is among the top 50 largest shareholder-owned insurance firms in the U.S. It prides itself on a long-standing cash dividend policy, with $0.88 per share, marking 40 years of increases.
Old Republic International Corporation (NYSE: ORI) announced the appointment of Veronica Romano as Senior Vice President, Underwriting & Distribution for Old Republic General Insurance Group, effective September 27, 2021. With 18 years at Zurich Insurance, Romano brings expertise in underwriting and distribution. CEO Craig Smiddy emphasized her leadership will enhance the team as the company aims for growth and profitability. Old Republic is a major player in the insurance industry, recognized for its solid dividend history with 40 consecutive years of increases at an annual rate of $0.88 per share.
Old Republic International Corporation (NYSE: ORI) declared a special cash dividend of $1.50 per share, payable on October 6, 2021, to shareholders on record as of September 15, 2021. This decision reflects a strong liquidity position, allowing fair distribution to shareholders. Since 2016, the company has distributed nearly $2.4 billion in dividends, maintaining a steady growth in shareholders' equity by approximately 52% during the same period.
Old Republic International Corporation (NYSE: ORI) announced a quarterly cash dividend of 22 cents per share, payable on September 15, 2021, to shareholders of record by September 1, 2021. This dividend rate signifies the 40th consecutive annual increase, bringing the total yearly dividend to 88 cents compared to 84 cents in 2020. Old Republic celebrates its 80th year of uninterrupted dividend payments, reflecting a commitment to shareholder returns.
Old Republic International Corporation (NYSE: ORI) released a Special Report focusing on Enterprise Risk Management principles such as Insurance Underwriting Risk, Capital Management, and Corporate Governance. This report reflects the Board of Directors' business judgment in response to suggestions from a new hedge fund shareholder. The issuance of the report demonstrates the company's commitment to transparency and open disclosure to shareholders. The full report can be accessed on ORI's website.
Old Republic International Corporation (NYSE: ORI) announced a management transition in its home service contract subsidiary, Old Republic Home Protection (ORHP). President Gwen Gallagher is retiring, and Frank Caballero, currently the Chief Operating Officer, will assume her role. Craig R. Smiddy, President and CEO, commended Gallagher for her leadership and emphasized that the experienced management team will ensure a smooth transition. As one of the largest insurance businesses in the U.S., Old Republic continues its long-term commitment to shareholders, evidenced by a 40-year history of dividend increases.
Old Republic International Corporation (NYSE: ORI) reported solid financial results for the second quarter and first half of 2021. The company achieved a 29.1% increase in net premiums and fees earned during Q2, totaling $1,987.3 million, with significant growth in the Title Insurance segment. Although pretax income dropped to $396.0 million from $499.1 million, net income was $316.4 million, demonstrating strong profitability in core operations. Book value per share rose to $22.59, an 8.9% increase from the previous year.
Old Republic International Corporation (NYSE: ORI) announced a conference call scheduled for July 22, 2021, at 3:00 p.m. ET to discuss its second-quarter and six-month results of 2021. Investors can access the call on Old Republic's website or via phone. A replay will be available until July 29, 2021. Old Republic, based in Chicago, is one of the largest shareholder-owned insurance companies in the U.S., known for its long-standing cash dividend policy, marking 40 consecutive years of increased dividends. It ranks as the third largest in title insurance.
Old Republic International Corporation (NYSE: ORI) announced key changes in its Accounting and Finance Executive Group, effective June 30 and July 1, 2021. Karl Mueller will retire as Chief Financial Officer after 40 years, with Frank Sodaro appointed as his successor. Sodaro, a CPA, was previously Deputy CFO, while Chris Lieser will take on the role of Deputy CFO while continuing his work in Title Insurance. The leadership changes reflect stable governance during a critical transition phase for the company.
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