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Old Republic International Corporation

Old Republic International Corporation

NYSE•ORI
CEO: Mr. Craig Richard Smiddy
Sector: Financial Services
Industry: Insurance - Diversified
Listing Date: 1980-03-17
Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety. This segment provides its insurance products to businesses, state and local government, and other institutions in transportation, commercial construction, healthcare, education, retail and wholesale trade, forest products, energy, general manufacturing, and financial services industries. The Title Insurance segment offers lenders' and owners' policies to real estate purchasers and investors based upon searches of the public records. This segment also provides escrow closing and construction disbursement services; and real estate information products, national default management services, and various other services pertaining to real estate transfers and loan transactions. The Republic Financial Indemnity Group Run-off Business segment offers private mortgage insurance coverage that protects mortgage lenders and investors from default related losses on residential mortgage loans made primarily to homebuyers. Old Republic International Corporation was founded in 1923 and is based in Chicago, Illinois.
Contact Information
307 North Michigan Avenue, Chicago, IL, 60601, United States
312-346-8100
www.oldrepublic.com
Market Cap
$9.78B
P/E (TTM)
11.5
16.1
Dividend Yield
8.0%
52W High
$44.00
52W Low
$33.00
52W Range
58%
6.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$2.42B+3.54%
4-Quarter Trend

EPS

$1.15-14.82%
4-Quarter Trend

FCF

-$365.50M-176.98%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Operating Income Rises 6.6% Net income excluding investment gains reached $607.7M for nine months, marking 6.6% growth over prior year results.
Premiums Earned Increased 10.3% Total net premiums and fees earned grew to $5.92B for nine months, driven by strong Specialty and Title growth.
Equity Position Strengthened 14.3% Shareholders' equity increased 14.3% to $6.42B as of September 30, 2025, supporting debt to equity ratio of 24.7%.
Investment Income Yields Higher Net investment income rose 4.4% to $524.9M for nine months, primarily driven by higher investment yields earned.

Risk Factors

Title Segment Combined Ratio Title Insurance combined ratio elevated to 98.9% NME 2025, reflecting higher agent commissions and litigation expenses.
Specialty Expense Ratio Elevated Specialty Insurance expense ratio elevated due to start-up costs for new operating companies and IT modernization projects.
Interest Rate Sensitivity Exposure Fixed income portfolio fair value sensitive to interest rate fluctuations, impacting common shareholders' equity directly.
Quarterly Underwriting Deviation Quarterly combined ratio slightly worsened to 95.3% Q3 2025, deviating from long-term underwriting cycle targets.

Outlook

Capital Return Remains Priority Total capital returned to shareholders was $281M NME, comprising dividends and share repurchases through Q3 2025.
Strategic Acquisition Integration Planned Definitive agreement signed to acquire Everett Cash Mutual Insurance Co., expected to close during 2026 upon approvals.
Ongoing Core System Modernization Investing in modernizing core systems like policy administration and claims, expecting redundant costs for several years.
Long-Term Performance Focus Management evaluates results over 10-year intervals, emphasizing underwriting profitability over short-term quarterly fluctuations.

Peer Comparison

Revenue (TTM)

Unum GroupUNM
$13.05B
+2.1%
Assurant, Inc.AIZ
$12.30B
+6.4%
Old Republic International CorporationORI
$8.75B
+7.1%

Gross Margin (Latest Quarter)

First Horizon CorporationFHN
100.6%
+41.3 pp
Assurant, Inc.AIZ
77.2%
+1.0 pp
Webster Financial CorporationWBS
61.0%
+5.1 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
UNM$12.42B8.413.7%6.0%
FHN$10.90B12.210.0%6.7%
AFG$10.87B14.316.9%4.8%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+6.6%
Steady Growth
4Q Net Income CAGR
+38.5%
Profitability Improved
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 31, 2025|
    Revenue: $2.42B+3.5%
    |
    EPS: $1.15-14.8%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 1, 2025|
    Revenue: $2.21B+18.0%
    |
    EPS: $0.84+140.0%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 2, 2025|
    Revenue: $2.11B+4.9%
    |
    EPS: $1.01-13.7%
    Beat

  • Form 10-K/A - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 27, 2025|
    Revenue: $8.23B+13.4%
    |
    EPS: $3.30+55.7%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|Refer to amended data

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 1, 2024|
    Revenue: $2.34B+33.0%
    |
    EPS: $1.35+610.5%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 2, 2024|
    Revenue: $1.87B+4.1%
    |
    EPS: $0.35-35.2%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 3, 2024|
    Revenue: $2.02B+14.6%
    |
    EPS: $1.17+72.1%
    Beat