Old Republic International Corporation - ORI STOCK NEWS

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.

The Board of Directors of Old Republic International Corporation (NYSE: ORI) declared a quarterly cash dividend of 22 cents per share, payable on June 15, 2021, to shareholders of record by June 4, 2021. This increases the total dividend for the year to 88 cents, up from 84 cents in 2020. This marks the 40th consecutive year of dividend growth and the 80th year of uninterrupted payments. Old Republic ranks among the largest insurance companies in the U.S. and is recognized for its long-term commitment to shareholders through consistent dividends.

Old Republic International Corporation (NYSE: ORI) reported a strong first quarter for 2021, with pretax income of $630.6 million compared to a loss of $769.9 million in 2020. Net income rose to $502.1 million, reflecting significant investment gains and improved underwriting results in both General and Title Insurance. The company achieved a combined ratio of 90.9%, a marked improvement from 95.1% in the previous year. As of March 31, 2021, shareholders' equity increased to $6,451.8 million, enhancing book value per share to $21.59.

AM Best has upgraded the Financial Strength Rating (FSR) of Old Republic Title Insurance Group (ORTIG) to A+ (Superior) from A (Excellent). The Long-Term Issuer Credit Ratings (Long-Term ICRs) also increased to 'aa-' from 'a+'. This upgrade reflects ORTIG's strategic importance, solid revenue generation, and profitability within Old Republic International Corporation. The ratings outlook is stable. Old Republic's strong balance sheet and operating performance have been affirmed, contributing to its position as a top property/casualty insurer in the U.S.

Old Republic International Corporation (NYSE: ORI) has appointed Lisa Jeffries Caldwell to its Board of Directors as of April 15, 2021. Caldwell, 60, previously served as Executive Vice President and Chief Human Resources Officer at Reynolds American for 27 years. Her appointment is part of ORI's ongoing strategy to enhance board diversity. The company has added seven new directors over five years, while four have retired. ORI is noted for its long-standing commitment to dividends, announcing its $0.88 annualized dividend, marking the 40th consecutive increase.

Old Republic International Corporation (NYSE: ORI) has announced a conference call scheduled for April 22, 2021, at 3:00 p.m. Eastern time to discuss its first-quarter 2021 results. The call can be accessed via the company’s website or by phone. A replay will be available until April 29, 2021. Old Republic is among the nation's largest shareholder-owned insurance businesses and has maintained a cash dividend payment for 80 years, with an annualized dividend rate of $0.88 per share, marking 40 consecutive years of increases.

Old Republic International Corporation (NYSE: ORI) announced the formation of a new venture, Old Republic Inland Marine (ORIM), to provide specialized commercial Inland Marine insurance solutions. The venture will be led by Matt Bisig, focusing on retail and wholesale distribution channels. Funding will come from internal capital, leveraging Old Republic's existing infrastructure. This initiative aims to expand Old Republic's insurance offerings and follows a long history of successfully providing specialized commercial insurance products.

Old Republic International Corporation (NYSE: ORI) declared a quarterly cash dividend of 22 cents per common share, payable on March 15, 2021, to shareholders on record by March 9, 2021. The annual dividend for 2021 will total 88 cents per share, an increase from 84 cents in 2020. This marks the 40th consecutive year of dividend increases, with 80 years of uninterrupted cash dividends since inception. Old Republic ranks among the top 50 shareholder-owned insurance businesses in the U.S.

Old Republic International Corporation (NYSE: ORI) reported significant improvements in its Q4 and full-year 2020 financial results. Net income for Q4 reached $519.7 million, up from $275.8 million in 2019, with net income per diluted share increasing to $1.74. Excluding investment gains, net income grew by 56% year-over-year. Total premiums and fees earned rose by 13% in Q4, driven by a robust Title Insurance segment, which saw a 30.7% increase in revenues. The company’s combined ratio improved to 90.3% for Q4, indicating increased operational efficiency. However, a slight decrease in net premiums earned in the General Insurance segment was observed.