Old Republic Stock Price, News & Analysis

Old Republic International Corporation (NYSE: ORI) announced the appointment of Mike Baumel as Senior Vice President – Claims and Chief Claims Officer of Old Republic General Insurance Group. With over 30 years of experience, Baumel will oversee claims initiatives, enhancing best practices within the organization. CEO Craig Smiddy praised Baumel's leadership and expertise in complex claims management. Old Republic is among the top 50 shareholder-owned insurance businesses in the U.S., with significant rankings in both general and title insurance.

Old Republic International Corporation (NYSE: ORI) has announced a quarterly cash dividend of 23 cents per share, payable on December 15, 2022, for shareholders on record by December 5, 2022. This brings the total annual dividend for 2022 to 92 cents, up from 88 cents in 2021. The announcement marks the 41st consecutive year of dividend increases and the 81st year of uninterrupted payments.

Old Republic International Corporation (NYSE: ORI) reported significant financial challenges for the third quarter ending September 30, 2022. The company experienced a net income loss of $91.7 million, compared to a profit of $88.7 million in the previous year. Key metrics include a 14.3% decline in net income, excluding investment gains/losses, and a 5.5% drop in consolidated net premiums and fees earned. The book value per share also decreased by 16.9% to $18.92. Despite a 7.1% growth in General Insurance, Title Insurance saw a steep decline in revenues due to rising mortgage interest rates.

Old Republic International Corporation (NYSE: ORI) announced a conference call scheduled for October 27, 2022, at 3:00 p.m. Eastern time to discuss its third-quarter 2022 results. Investors can access the call at www.oldrepublic.com or by calling 1-888-510-2411 (passcode 4060501). A replay will be available until November 3, 2022. Old Republic, based in Chicago, is among the top 50 shareholder-owned insurance companies in the U.S., excelling in general and title insurance services.

Old Republic Title has acquired the operating assets of Houston-based Veritas Title Partners, effective October 1, 2022. This strategic acquisition bolsters Old Republic Title's extensive network, which includes over 275 branch locations nationwide. Carolyn Monroe, President of Old Republic Title, emphasized the enhancement of their Houston operations through Veritas Title's experienced team. Veritas Title's leadership expressed pride in joining Old Republic Title, which promises to maintain high service standards while accessing advanced technology and resources.

Old Republic International Corporation (NYSE: ORI) announced a $450 million share repurchase program and a special one-time cash dividend of $1.00 per share, payable on September 15, 2022. Shareholders of record as of September 1, 2022 will benefit from this initiative, totaling approximately $760 million in returns. The share buyback may occur at management's discretion and is intended to enhance shareholder value. Old Republic has a strong history of dividend payments, having declared around $3.0 billion in cash dividends since December 2016.

Old Republic International Corporation (NYSE: ORI) announced a regular quarterly cash dividend of 23 cents per share, payable on September 15, 2022, to shareholders on record as of September 1, 2022. The annual dividend for 2022 is projected to be 92 cents per share, up from 88 cents in 2021, marking the 41st consecutive annual increase. This year also represents the 81st year of uninterrupted cash dividend payments, reflecting the company's strong commitment to returning value to shareholders.

Old Republic International Corporation (NYSE: ORI) reported a decline in net income for the second quarter of 2022, with a loss of $40.1 million compared to a profit of $316.4 million in the same period last year. Excluding investment gains, net income was $210.2 million, down 4.8%. The company's combined ratio was reported at 90.9%, consistent with strong underwriting in general insurance despite a decline in title insurance premiums. Shareholders' equity decreased to $6.39 billion, reflecting a 7.3% drop year-over-year, with book value per share at $20.99. Overall, the company continues to emphasize long-term financial strength.

Old Republic International Corporation (NYSE: ORI) will host a conference call on July 28, 2022, at 3:00 p.m. Eastern to discuss its second-quarter results. The call is accessible live via the company’s website or by phone at 1-888-655-9638, with a replay available until August 25, 2022. Old Republic is one of the top 50 shareholder-owned insurance companies in the U.S., featuring significant operations in general and title insurance.

For more updates, visit www.oldrepublic.com.