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Old Republic International Corporation - ORI STOCK NEWS

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.

Rhea-AI Summary

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.

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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.

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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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Old Republic International (NYSE: ORI) announced that its Board of Directors has declared a quarterly cash dividend of 26.5 cents per common share. This dividend will be payable on June 14, 2024, to shareholders recorded by June 4, 2024. Assuming Board approval each quarter, the annual cash dividend for 2024 will total $1.06 per share, representing an 8.2% increase from the $0.98 per share paid in 2023. This marks the 43rd consecutive year of dividend increases and the 83rd year of uninterrupted payments.

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Old Republic International (NYSE: ORI) reported strong financial results for the first quarter of 2024, with pretax income excluding investment gains increasing by 3.9% compared to the same period last year. Net income also showed growth, with diluted net operating income per share up by 9.8%. The company's total capital returned to shareholders reached $264 million during the quarter. Despite a decline in Title Insurance, the General Insurance segment saw double-digit growth in pretax operating income.
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Old Republic International (ORI) to report financial results for Q1 2024 on April 25 and hold a conference call to discuss the results. Investors can access the call live on the company's website or via phone.
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AM Best affirms Old Republic Insurance Companies' strong financial ratings and positive outlooks, with stable and excellent credit ratings across its subsidiaries. The group's expertise in commercial lines insurance, solid profitability, and strong risk management contribute to its success.
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Old Republic International (ORI) announces senior management changes at Old Republic Aerospace, appointing Gary Churchill as President/COO and Jeffrey Moitozo as EVP/CUO. Ralph Sohl remains CEO. The appointments reflect the company's succession planning efforts and recognize the leaders' accomplishments.
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Old Republic International (ORI) appoints Therace M. Risch to its Board of Directors, enhancing expertise in cyber security and technology. ORI has added six new qualified members in the last 5 years, focusing on diversity and talent.
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Old Republic International Corporation (ORI) authorizes a $1.10 billion share repurchase program, following the completion of a $450 million program. The Board of Directors considered liquidity and capital needs before making the decision. Craig R. Smiddy, President and CEO, highlights the company's history of prudent capital management and confidence in the growth of its specialty insurance businesses.
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FAQ

What is the current stock price of Old Republic International Corporation (ORI)?

The current stock price of Old Republic International Corporation (ORI) is $35.05 as of September 13, 2024.

What is the market cap of Old Republic International Corporation (ORI)?

The market cap of Old Republic International Corporation (ORI) is approximately 9.0B.

What is Old Republic International Corporation's core business?

Old Republic International Corporation operates in three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group (RFIG) Run-off, offering a wide range of specialized insurance products.

When was Old Republic International Corporation founded?

Old Republic International Corporation traces its beginnings back to 1923.

What recent developments have occurred at Old Republic International Corporation?

Old Republic recently announced the formation of a new underwriting subsidiary, Old Republic Accident & Health, Inc., focusing on specialized coverages like employers stop loss.

How does Old Republic International Corporation manage its business operations?

Old Republic operates through a decentralized model that emphasizes specialization by type of insurance coverage, industry, and economic sector.

What are Old Republic's financial highlights for the third quarter of 2023?

For Q3 2023, ORI reported a 28.6% increase in general insurance pretax operating income and a 10.6% growth in net premiums earned for its general insurance segment.

Is Old Republic International Corporation a Fortune 500 company?

Yes, Old Republic International Corporation is a member of the Fortune 500 list of America’s largest companies.

What is the focus of Old Republic Accident & Health, Inc.?

Old Republic Accident & Health, Inc. focuses on providing specialized coverages such as employers stop loss.

How does Old Republic International Corporation return value to its shareholders?

Old Republic returns value to shareholders through dividends and share repurchases. In 2023, the company returned approximately $684 million to shareholders.

What distinguishes Old Republic's title insurance business?

Old Republic's title insurance business is the third largest in its industry, issuing policies to real estate purchasers and investors based on public records searches.

Where is Old Republic International Corporation headquartered?

Old Republic International Corporation is headquartered in Chicago, Illinois.

Old Republic International Corporation

NYSE:ORI

ORI Rankings

ORI Stock Data

9.05B
258.49M
7.86%
72.54%
1.21%
Insurance - Diversified
Surety Insurance
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United States of America
CHICAGO