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Old Republic International Corporation reports developments across its specialty insurance, property and casualty, and title insurance operations. The company’s updates commonly cover underwriting results, net investment income, combined ratio trends, loss reserve development, book value, dividends, share repurchases, and rating-agency actions affecting its insurance subsidiaries.
Old Republic also announces operating-company actions within its decentralized insurance group, including brand changes, the Lodestar Claims & Risk Services third-party administrator business, specialized property insurance expansion, and leadership changes at units such as BITCO Insurance Companies and Old Republic Professional. Its business serves commercial clients and other partners in the United States and Canada through specialized underwriting, claims administration, risk services, and title insurance capabilities.
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.
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.