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) 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.
Old Republic International Corporation (NYSE: ORI) will hold a conference call on January 28 at 3:00 p.m. Eastern time to discuss its fourth quarter and full year 2020 results. The call can be accessed live via the company website or by phone. A replay will be available until February 26, 2021. Old Republic is among the top 50 largest shareholder-owned insurance firms in the U.S., focusing on general and title insurance. It has been recognized for over 25 years of annual dividend growth, ranking 58th among Mergent's Dividend Achievers.
On December 18, 2020, Old Republic International Corporation (NYSE: ORI) announced a special cash dividend of $1.00 per share, set for payment on January 15, 2021. Shareholders must be on record by January 5, 2021 to qualify. This decision reflects the Board of Directors' assessment of the company's financial health and aims to enhance shareholder value. The details are further explained in a letter to shareholders available on the company’s website.
On January 5, 2021, Old Republic International Corporation (NYSE: ORI) announced the integration of Old Republic Contractors Insurance Group (ORCIG) into BITCO Corporation. Consequently, ORCIG will be renamed BITCO Construction Group, streamlining operations under Vince Lamb, CEO of BITCO. Craig Smiddy, Old Republic's President, highlighted that this merger creates opportunities for agents, brokers, and customers, enhancing their capabilities in the U.S. construction insurance market. The unification aims to deliver comprehensive solutions across various construction account sizes.
On December 18, 2020, Old Republic International Corporation (NYSE: ORI) declared a special cash dividend of $1.00 per share, payable on January 15, 2021. Shareholders of record by January 5, 2021 will receive this one-time payment. The decision reflects the company's strong capital position and commitment to returning value to its shareholders, having paid nearly $2 billion in dividends over the past five years. Old Republic maintains a robust financial standing, with a 52% increase in shareholders' equity during this period.
Old Republic International Corporation (NYSE: ORI) has declared a quarterly cash dividend of 21 cents per share, payable on December 15, 2020, to shareholders of record as of December 4, 2020. This marks the 39th consecutive year of dividend increases, contributing to a total of 79 years of uninterrupted cash dividend payments. Old Republic is among the top 50 largest shareholder-owned insurance businesses in the U.S., emphasizing its long-term commitment to dividend growth.
Old Republic International Corporation (NYSE: ORI) reported Q3 2020 results, showcasing a pretax income of $306.9 million, a 36.1% increase year-over-year. The net income reached $246 million, up 38.9% from Q3 2019. Net premiums and fees earned rose by 6.6%, totaling $1.66 billion. The Title Insurance segment surged by 17.1%, while the General Insurance segment saw a slight decline in premiums. The overall combined ratio improved to 92.0%. Shareholders' equity was $6.07 billion, reflecting a 1.2% increase. The ongoing COVID-19 pandemic continues to impact the economy and premium revenues.
Old Republic International Corporation (NYSE: ORI) will hold a conference call on October 22, 2020, at 3:00 p.m. Eastern time to discuss its third-quarter and year-to-date results. Investors can access the call live on the company's website or via phone at 1-877-222-5695. A replay will be available until October 29, 2020, through 1-844-512-2921 and on its website until November 21, 2020. Old Republic is one of the top 50 largest shareholder-owned insurance businesses in the U.S., known for its strong dividend growth.
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