Old Republic International Corp

ORI

Equity

ISIN US6802231042 / Valor 958918

New York Stock Exchange, Inc (2024-12-26)

USD 36.73+0.33%

Old Republic International Corp
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About company

inancial institutions. Old Republic International Corp is a diversified insurance company that offers a wide range of coverages in the general and title insurance fields. The company focuses on carefully selected sectors of the North American economy to ensure diversification and minimize exposure to business cycles. Operating in a decentralized manner, Old Republic emphasizes specialization by type of insurance coverage, industry, and economic sector. With roots dating back to 1923, Old Republic is a major player in the general insurance industry and the third largest in the title insurance industry. The company primarily serves commercial clients, including leading industrial and financial institutions in North America.

Summarized from source with an LLMView SourceSector: Finance

Net Income Growth

Old Republic International Corp reported a significant increase in net income for the third quarter of 2024, reaching $338.9 million compared to $52.6 million in the same quarter of 2023. This growth was primarily driven by substantial investment gains, which offset a slight decline in operating income.

Revenue Increase

For the third quarter of 2024, Old Republic International Corp's total operating revenues rose by 10.1% to $2,144.0 million, up from $1,947.0 million in the previous year. This increase was supported by strong growth in net premiums and fees earned, particularly in the General Insurance segment.

Investment Income Surge

Old Republic International Corp experienced a 17.3% increase in net investment income during the third quarter of 2024, totaling $171.0 million compared to $145.9 million in the same period of 2023. This growth was attributed to higher investment yields, contributing positively to the company's overall financial performance.

Combined Ratio Deterioration

The company's consolidated combined ratio for the third quarter of 2024 increased to 95.0%, up from 91.9% in the prior year. This rise was due to lower levels of favorable loss reserve development, which impacted the overall underwriting profitability of Old Republic International Corp.

Dividend and Shareholder Returns

Old Republic International Corp returned a total of $232 million to shareholders during the third quarter of 2024, including $165 million in share repurchases. Additionally, the company declared a cash dividend of $0.265 per common share, reflecting its commitment to providing consistent returns to its shareholders.

Summarized from source with an LLMView Source

Key figures

26.0%1Y

52.5%3Y

65.8%5Y

Performance

19.2%1Y

21.7%3Y

31.6%5Y

Volatility