(Exact name of registrant as specified in its charter) |
(State or other jurisdiction | (Commission | (I.R.S. Employer | ||
of incorporation) | File Number) | Identification No.) |
(Address of principal executive offices) (Zip Code) | |||||
(Registrant’s telephone number, including area code) | |||||
N /A | |||||
(Former name or former address, if changed since last report) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
OLD REPUBLIC INTERNATIONAL CORPORATION | ||
Registrant | ||
Date: April 23, 2020 | By: /s/ Karl W. Mueller | |
Karl W. Mueller | ||
Senior Vice President, | ||
Chief Financial Officer, and | ||
Chief Accounting Officer |
NEWS RELEASE | |||||||
Further Information Contacts: | |||||||
AT OLD REPUBLIC: | AT FINANCIAL RELATIONS BOARD: | ||||||
Craig R. Smiddy: President and CEO | Analysts/Investors: Marilynn Meek | ||||||
(312) 346-8100 | (212) 827-3773 | ||||||
OLD REPUBLIC REPORTS RESULTS FOR THE FIRST QUARTER 2020 |
CHICAGO – April 23, 2020 – Old Republic International Corporation (NYSE: ORI) today reported the following consolidated results (a): | |||||||||||||||||
OVERALL RESULTS | |||||||||||||||||
Quarters Ended March 31, | |||||||||||||||||
2020 | 2019 | % Change | |||||||||||||||
Pretax income (loss) | $ | (769.9 | ) | $ | 518.5 | ||||||||||||
Pretax investment gains (losses) | (944.1 | ) | 368.0 | ||||||||||||||
Pretax income (loss) excluding investment gains (losses) | $ | 174.2 | $ | 150.4 | 15.8 | % | |||||||||||
Net income (loss) | $ | (604.8 | ) | $ | 412.2 | ||||||||||||
Net of tax investment gains (losses) | (745.6 | ) | 290.6 | ||||||||||||||
Net income (loss) excluding investment gains (losses) | $ | 140.8 | $ | 121.5 | 15.8 | % | |||||||||||
PER DILUTED SHARE | |||||||||||||||||
Quarters Ended March 31, | |||||||||||||||||
2020 | 2019 | % Change | |||||||||||||||
Net income (loss) | $ | (2.01 | ) | $ | 1.37 | ||||||||||||
Net of tax investment gains (losses) | (2.48 | ) | .97 | ||||||||||||||
Net income (loss) excluding investment gains (losses) | $ | .47 | $ | .40 | 17.5 | % | |||||||||||
SHAREHOLDERS' EQUITY | |||||||||||||||||
March 31, | Dec. 31, | ||||||||||||||||
2020 | 2019 | % Change | |||||||||||||||
Shareholders' equity: Total | $ | 5,142.9 | $ | 6,000.1 | -14.3 | % | |||||||||||
Per Common Share | $ | 17.29 | $ | 19.98 | -13.5 | % |
FINANCIAL HIGHLIGHTS | ||||||||||||||||||
Quarters Ended March 31, | ||||||||||||||||||
SUMMARY INCOME STATEMENTS: | 2020 | 2019 | % Change | |||||||||||||||
Revenues: | ||||||||||||||||||
Net premiums and fees earned | $ | 1,496.8 | $ | 1,358.1 | 10.2 | % | ||||||||||||
Net investment income | 114.1 | 112.1 | 1.8 | |||||||||||||||
Other income | 34.6 | 30.4 | 14.1 | |||||||||||||||
Total operating revenues | 1,645.7 | 1,500.6 | 9.7 | |||||||||||||||
Investment gains (losses): | ||||||||||||||||||
Realized from actual transactions | 18.5 | 12.3 | ||||||||||||||||
Realized from impairments | — | — | ||||||||||||||||
Unrealized from changes in fair value of equity securities | (962.7 | ) | 355.6 | |||||||||||||||
Total investment gains (losses) | (944.1 | ) | 368.0 | |||||||||||||||
Total revenues | 701.5 | 1,868.6 | ||||||||||||||||
Operating expenses: | ||||||||||||||||||
Claim costs | 622.6 | 606.0 | 2.7 | |||||||||||||||
Sales and general expenses | 836.9 | 733.4 | 14.1 | |||||||||||||||
Interest and other charges | 11.9 | 10.6 | 11.7 | |||||||||||||||
Total operating expenses | 1,471.5 | 1,350.1 | 9.0 | % | ||||||||||||||
Pretax income (loss) | (769.9 | ) | 518.5 | |||||||||||||||
Income taxes (credits) | (165.1 | ) | 106.2 | |||||||||||||||
Net income (loss) | $ | (604.8 | ) | $ | 412.2 | |||||||||||||
COMMON STOCK STATISTICS: | ||||||||||||||||||
Net income (loss) per share: Basic | $ | (2.01 | ) | $ | 1.38 | |||||||||||||
Diluted | $ | (2.01 | ) | $ | 1.37 | |||||||||||||
Components of net income (loss) per share: | ||||||||||||||||||
Basic net income (loss) excluding investment gains (losses) | $ | 0.47 | $ | 0.41 | 14.6 | % | ||||||||||||
Net investment gains (losses): | ||||||||||||||||||
Realized from actual transactions and impairments | 0.05 | 0.03 | ||||||||||||||||
Unrealized from changes in fair value of equity securities | (2.53 | ) | 0.94 | |||||||||||||||
Basic net income (loss) | $ | (2.01 | ) | $ | 1.38 | |||||||||||||
Diluted net income (loss) excluding investment gains (losses) | $ | 0.47 | $ | 0.40 | 17.5 | % | ||||||||||||
Net investment gains (losses): | ||||||||||||||||||
Realized from actual transactions and impairments | 0.05 | 0.03 | ||||||||||||||||
Unrealized from changes in fair value of equity securities | (2.53 | ) | 0.94 | |||||||||||||||
Diluted net income (loss) | $ | (2.01 | ) | $ | 1.37 | |||||||||||||
Cash dividends on common stock | $ | 0.21 | $ | 0.20 | ||||||||||||||
Book value per share | $ | 17.29 | $ | 18.94 | -8.7 | % | ||||||||||||
Major Segmented and Consolidated | ||||||||||||||||
Elements of Income (Loss) | ||||||||||||||||
Quarters Ended March 31, | ||||||||||||||||
2020 | 2019 | % Change | ||||||||||||||
A. Net premiums, fees, and other income: | ||||||||||||||||
General insurance | $ | 852.8 | $ | 831.5 | 2.6 | % | ||||||||||
Title insurance | 628.1 | 506.9 | 23.9 | |||||||||||||
Corporate and other | 3.1 | 3.4 | -9.0 | |||||||||||||
Other income | 34.6 | 30.4 | 14.1 | |||||||||||||
Subtotal | 1,518.9 | 1,372.2 | 10.7 | |||||||||||||
RFIG run-off business (c) | 12.6 | 16.2 | -22.1 | |||||||||||||
Consolidated | $ | 1,531.5 | $ | 1,388.5 | 10.3 | % | ||||||||||
B. Underwriting and related | ||||||||||||||||
services income (loss): | ||||||||||||||||
General insurance | $ | 37.5 | $ | 38.8 | -3.4 | % | ||||||||||
Title insurance | 33.3 | 11.6 | 186.8 | |||||||||||||
Corporate and other | (2.9 | ) | (5.2 | ) | 42.5 | |||||||||||
Subtotal | 67.9 | 45.2 | 50.0 | |||||||||||||
RFIG run-off business (c) | 4.0 | 3.7 | 8.2 | |||||||||||||
Consolidated | $ | 71.9 | $ | 49.0 | 46.8 | % | ||||||||||
C. Consolidated underwriting ratio: | ||||||||||||||||
Claim ratio | 41.6 | % | 44.6 | % | ||||||||||||
Expense ratio | 53.3 | 51.4 | ||||||||||||||
Composite ratio | 94.9 | % | 96.0 | % | ||||||||||||
D. Net investment income: | ||||||||||||||||
General insurance | $ | 90.6 | $ | 88.2 | 2.7 | % | ||||||||||
Title insurance | 10.8 | 10.2 | 5.2 | |||||||||||||
Corporate and other | 8.3 | 9.0 | -7.4 | |||||||||||||
Subtotal | 109.8 | 107.5 | 2.1 | |||||||||||||
RFIG run-off business | 4.3 | 4.5 | -3.8 | |||||||||||||
Consolidated | $ | 114.1 | $ | 112.1 | 1.8 | % | ||||||||||
E. Interest and other charges (credits): | ||||||||||||||||
General insurance | $ | 18.0 | $ | 18.7 | ||||||||||||
Title insurance | 0.8 | 1.3 | ||||||||||||||
Corporate and other (a) | (6.9 | ) | (9.4 | ) | ||||||||||||
Subtotal | 11.9 | 10.6 | ||||||||||||||
RFIG run-off business | — | — | ||||||||||||||
Consolidated | $ | 11.9 | $ | 10.6 | 11.7 | % | ||||||||||
F. Segmented and consolidated pretax income (loss) | ||||||||||||||||
excluding investment gains (losses)(B+D-E): | ||||||||||||||||
General insurance | $ | 110.1 | $ | 108.3 | 1.7 | % | ||||||||||
Title insurance | 43.3 | 20.5 | 110.6 | |||||||||||||
Corporate and other | 12.3 | 13.2 | -7.2 | |||||||||||||
Subtotal | 165.7 | 142.1 | 16.6 | |||||||||||||
RFIG run-off business (c) | 8.4 | 8.2 | 1.6 | |||||||||||||
Consolidated | 174.2 | 150.4 | 15.8 | % | ||||||||||||
Income taxes (credits) on above (b) | 33.3 | 28.8 | ||||||||||||||
G. Net income (loss) excluding investment gains (losses) | 140.8 | 121.5 | 15.8 | % | ||||||||||||
H. Consolidated pretax investment gains (losses): | ||||||||||||||||
Realized from actual transactions | ||||||||||||||||
and impairments | 18.5 | 12.3 | ||||||||||||||
Unrealized from changes in | ||||||||||||||||
fair value of equity securities | (962.7 | ) | 355.6 | |||||||||||||
Total | (944.1 | ) | 368.0 | |||||||||||||
Income taxes (credits) on above | (198.5 | ) | 77.4 | |||||||||||||
Net of tax investment gains (losses) | (745.6 | ) | 290.6 | |||||||||||||
I. Net income (loss) | $ | (604.8 | ) | $ | 412.2 | |||||||||||
J. Consolidated operating cash flow | $ | 216.3 | $ | 136.2 | ||||||||||||
General Insurance Summary Operating Results | ||||||||||||||||
Quarters Ended March 31, | ||||||||||||||||
2020 | 2019 | % Change | ||||||||||||||
Net premiums written | $ | 860.7 | $ | 842.8 | 2.1 | % | ||||||||||
Net premiums earned | 852.8 | 831.5 | 2.6 | |||||||||||||
Net investment income | 90.6 | 88.2 | 2.7 | |||||||||||||
Other income | 34.5 | 30.2 | 14.0 | |||||||||||||
Operating revenues | 978.0 | 950.0 | 2.9 | |||||||||||||
Claim costs | 595.4 | 580.3 | 2.6 | |||||||||||||
Sales and general expenses | 254.4 | 242.5 | 4.9 | |||||||||||||
Interest and other charges | 18.0 | 18.7 | -4.1 | |||||||||||||
Operating expenses | 867.9 | 841.7 | 3.1 | |||||||||||||
Segment pretax operating income (loss) | $ | 110.1 | $ | 108.3 | 1.7 | % | ||||||||||
Claim ratio | 69.8 | % | 69.8 | % | ||||||||||||
Expense ratio | 25.8 | 25.5 | ||||||||||||||
Composite ratio | 95.6 | % | 95.3 | % |
Effect of Prior Periods' | ||||||||||||||
(Favorable)/ | Claim Ratio Excluding | |||||||||||||
Reported | Unfavorable Claim | Prior Periods' Claim | ||||||||||||
Claim Ratio | Reserves Development | Reserves Development | ||||||||||||
2015 | 74.1 | % | 1.5 | % | 72.6 | % | ||||||||
2016 | 73.0 | 0.3 | 72.7 | |||||||||||
2017 | 71.8 | 0.7 | 71.1 | |||||||||||
2018 | 72.2 | — | 72.2 | |||||||||||
2019 | 71.8 | % | 0.4 | % | 71.4 | % | ||||||||
1st Quarter 2019 | 69.8 | % | (1.4 | )% | 71.2 | % | ||||||||
1st Quarter 2020 | 69.8 | % | (0.7 | )% | 70.5 | % |
Title Insurance | ||||||||||||||||
Summary Operating Results | ||||||||||||||||
Quarters Ended March 31, | ||||||||||||||||
2020 | 2019 | % Change | ||||||||||||||
Net premiums and fees earned | $ | 628.1 | $ | 506.9 | 23.9 | % | ||||||||||
Net investment income | 10.8 | 10.2 | 5.2 | |||||||||||||
Other income | 0.1 | 0.1 | 15.2 | |||||||||||||
Operating revenues | 639.1 | 517.3 | 23.5 | |||||||||||||
Claim costs | 21.5 | 14.4 | 49.0 | |||||||||||||
Sales and general expenses | 573.3 | 480.9 | 19.2 | |||||||||||||
Interest and other charges | 0.8 | 1.3 | -36.1 | |||||||||||||
Operating expenses | 595.8 | 496.7 | 19.9 | |||||||||||||
Segment pretax operating income (loss) | $ | 43.3 | $ | 20.5 | 110.6 | % | ||||||||||
Claim ratio | 3.4 | % | 2.9 | % | ||||||||||||
Expense ratio | 91.3 | 94.8 | ||||||||||||||
Composite ratio | 94.7 | % | 97.7 | % |
Effect of Prior Periods' | ||||||||||||||
(Favorable)/ | Claim Ratio Excluding | |||||||||||||
Reported | Unfavorable Claim | Prior Periods' Claim | ||||||||||||
Claim Ratio | Reserves Development | Reserves Development | ||||||||||||
2015 | 4.9 | % | (0.6 | )% | 5.5 | % | ||||||||
2016 | 3.8 | (1.1 | ) | 4.9 | ||||||||||
2017 | 0.9 | (3.3 | ) | 4.2 | ||||||||||
2018 | 2.1 | (2.0 | ) | 4.1 | ||||||||||
2019 | 2.7 | % | (1.3 | )% | 4.0 | % | ||||||||
1st Quarter 2019 | 2.9 | % | (1.1 | )% | 4.0 | % | ||||||||
1st Quarter 2020 | 3.4 | % | (0.5 | )% | 3.9 | % |
RFIG Run-off | ||||||||||||||||
Summary Operating Results (a) | ||||||||||||||||
Quarters Ended March 31, | ||||||||||||||||
2020 | 2019 | % Change | ||||||||||||||
A. Mortgage Insurance (MI) | ||||||||||||||||
Net premiums earned | $ | 12.6 | $ | 16.0 | -21.2 | % | ||||||||||
Net investment income | 4.3 | 4.3 | 0.9 | |||||||||||||
Claim costs | 4.7 | 9.5 | -50.1 | |||||||||||||
MI pretax operating income (loss) | $ | 8.4 | $ | 7.0 | 19.5 | % | ||||||||||
Claim ratio | 37.8 | % | 59.7 | % | ||||||||||||
Expense ratio | 30.2 | 23.4 | ||||||||||||||
Composite ratio | 68.0 | % | 83.1 | % | ||||||||||||
B. Consumer Credit Indemnity (CCI) (a) | ||||||||||||||||
CCI pretax operating income (loss) | $ | — | $ | 1.2 | ||||||||||||
C. Total MI and CCI Run-off business (a) | ||||||||||||||||
Segment pretax operating income (loss) | $ | 8.4 | $ | 8.2 | 1.6 | % | ||||||||||
(a) | RFIG segment pretax operating income (loss) includes amounts attributable to the Company's consumer credit indemnity run-off business of $ - and $1.2 for the first quarters of 2020 and 2019, respectively. Results for the CCI coverages are expected to be immaterial in the remaining run-off periods. Effective July 1, 2019, these results have been re-classified to the General Insurance Segment for all future periods. |
Effect of Prior Periods' | ||||||||||||||
(Favorable)/ | Claim Ratio Excluding | |||||||||||||
Reported | Unfavorable Claim | Prior Periods' Claim | ||||||||||||
Claim Ratio | Reserves Development | Reserves Development | ||||||||||||
2015 | 56.4 | % | (65.0 | )% | 121.4 | % | ||||||||
2016 | 34.1 | (39.8 | ) | 73.9 | ||||||||||
2017 | 57.6 | (38.3 | ) | 95.9 | ||||||||||
2018 | 43.2 | (27.0 | ) | 70.2 | ||||||||||
2019 | 55.0 | % | (12.5 | )% | 67.5 | % | ||||||||
1st Quarter 2019 | 59.7 | % | (10.0 | )% | 69.7 | % | ||||||||
1st Quarter 2020 | 37.8 | % | (14.6 | )% | 52.4 | % |
Corporate and Other | |||||||||||||||||
Summary Operating Results | |||||||||||||||||
Quarters Ended March 31, | |||||||||||||||||
2020 | 2019 | % Change | |||||||||||||||
Net life and accident premiums earned | $ | 3.1 | $ | 3.4 | -9.0 | % | |||||||||||
Net investment income | 8.3 | 9.0 | -7.4 | ||||||||||||||
Other operating income | — | — | — | ||||||||||||||
Operating revenues | 11.5 | 12.4 | -7.8 | ||||||||||||||
Claim costs | 0.8 | 2.7 | -67.5 | ||||||||||||||
Insurance expenses | 1.2 | 1.2 | -0.5 | ||||||||||||||
Corporate, interest and other expenses - net | (2.9 | ) | (4.7 | ) | 38.0 | ||||||||||||
Operating expenses | (0.8 | ) | (0.7 | ) | -2.4 | ||||||||||||
Corporate and other pretax operating income (loss) | $ | 12.3 | $ | 13.2 | -7.2 | % |
March 31, | December 31, | March 31, | |||||||||
2020 | 2019 | 2019 | |||||||||
Assets: | |||||||||||
Cash and fixed maturity securities | $ | 10,149.7 | $ | 10,381.5 | $ | 9,926.2 | |||||
Equity securities | 3,214.9 | 4,030.5 | 3,738.9 | ||||||||
Other invested assets | 114.7 | 115.4 | 128.7 | ||||||||
Cash and invested assets | 13,479.4 | 14,527.4 | 13,793.9 | ||||||||
Accounts and premiums receivable | 1,590.3 | 1,466.7 | 1,585.0 | ||||||||
Federal income tax recoverable: Current | — | 5.7 | — | ||||||||
Deferred | 130.1 | — | — | ||||||||
Prepaid federal income taxes | — | — | 129.8 | ||||||||
Reinsurance balances recoverable | 3,884.1 | 3,823.9 | 3,556.1 | ||||||||
Deferred policy acquisition costs | 323.3 | 325.4 | 319.5 | ||||||||
Sundry assets | 944.8 | 927.0 | 912.3 | ||||||||
Total assets | $ | 20,352.2 | $ | 21,076.3 | $ | 20,296.9 | |||||
Liabilities and Shareholders' Equity: | |||||||||||
Policy liabilities | $ | 2,479.9 | $ | 2,419.2 | $ | 2,377.1 | |||||
Claim reserves | 9,995.9 | 9,929.5 | 9,488.4 | ||||||||
Federal income tax payable: Current | 27.9 | — | 22.4 | ||||||||
Deferred | — | 112.2 | 108.8 | ||||||||
Reinsurance balances and funds | 727.9 | 616.0 | 670.6 | ||||||||
Debt | 967.8 | 974.0 | 975.1 | ||||||||
Sundry liabilities | 1,009.7 | 1,025.1 | 988.5 | ||||||||
Total liabilities | 15,209.3 | 15,076.1 | 14,631.3 | ||||||||
Shareholders' equity | 5,142.9 | 6,000.1 | 5,665.6 | ||||||||
Total liabilities and shareholders' equity | $ | 20,352.2 | $ | 21,076.3 | $ | 20,296.9 |
Cash, Invested Assets, and Shareholders' Equity | ||||||||||||||||||||
% Change | ||||||||||||||||||||
March 31, | Dec. 31, | March 31, | March '20/ | March '20/ | ||||||||||||||||
2020 | 2019 | 2019 | Dec. '19 | March '19 | ||||||||||||||||
Cash and invested assets: | ||||||||||||||||||||
Available for sale fixed maturity securities, cash | ||||||||||||||||||||
and other invested assets, carried at fair value | $ | 9,248.7 | $ | 9,475.2 | $ | 9,015.9 | -2.4 | % | 2.6 | % | ||||||||||
Equity securities, carried at fair value | 3,214.9 | 4,030.5 | 3,738.9 | -20.2 | -14.0 | |||||||||||||||
Held to maturity securities, carried at amortized cost | 1,015.8 | 1,021.7 | 1,039.0 | -0.6 | -2.2 | |||||||||||||||
Total per balance sheet | $ | 13,479.4 | $ | 14,527.4 | $ | 13,793.9 | -7.2 | % | -2.3 | % | ||||||||||
Total at cost for all | $ | 13,415.6 | $ | 13,327.2 | $ | 13,026.1 | 0.7 | % | 3.0 | % | ||||||||||
Composition of shareholders' equity per share: | ||||||||||||||||||||
Equity before items below | $ | 17.58 | $ | 17.25 | $ | 17.35 | 1.9 | % | 1.3 | % | ||||||||||
Unrealized investment gains (losses) and other | ||||||||||||||||||||
accumulated comprehensive income (loss) | (0.29 | ) | 2.73 | 1.59 | ||||||||||||||||
Total | $ | 17.29 | $ | 19.98 | $ | 18.94 | -13.5 | % | -8.7 | % | ||||||||||
Segmented composition of | ||||||||||||||||||||
shareholders' equity per share: | ||||||||||||||||||||
Excluding RFIG run-off segment | $ | 15.89 | $ | 18.37 | $ | 17.37 | -13.5 | % | -8.5 | % | ||||||||||
RFIG run-off segment | 1.40 | 1.61 | 1.57 | |||||||||||||||||
Consolidated total | $ | 17.29 | $ | 19.98 | $ | 18.94 | -13.5 | % | -8.7 | % |
Shareholders' Equity | |||||||||||
Per Share | |||||||||||
March 31, | |||||||||||
2020 | 2019 | ||||||||||
Beginning balance | $ | 19.98 | $ | 17.23 | |||||||
Changes in shareholders' equity: | |||||||||||
Net income (loss) excluding net investment gains (losses) | 0.47 | 0.41 | |||||||||
Net of tax realized investment gains (losses) | 0.05 | 0.03 | |||||||||
Net of tax unrealized investment gains (losses) on | |||||||||||
securities carried at fair value | (2.99 | ) | 1.40 | ||||||||
Total net of tax realized and unrealized | |||||||||||
investment gains (losses) | (2.94 | ) | 1.43 | ||||||||
Cash dividends | (0.21 | ) | (0.20 | ) | |||||||
Other | (0.01 | ) | 0.07 | ||||||||
Net change | (2.69 | ) | 1.71 | ||||||||
Ending balance | $ | 17.29 | $ | 18.94 | |||||||
Percentage change for the period | -13.5 | % | 9.9 | % |
Capitalization | |||||||||||
March 31, | December 31, | March 31, | |||||||||
2020 | 2019 | 2019 | |||||||||
Debt: | |||||||||||
4.875% Senior Notes due 2024 | $ | 397.5 | $ | 397.3 | $ | 396.9 | |||||
3.875% Senior Notes due 2026 | 546.4 | 546.2 | 545.8 | ||||||||
Other miscellaneous debt | 23.9 | 30.4 | 32.3 | ||||||||
Total debt | 967.8 | 974.0 | 975.1 | ||||||||
Common shareholders' equity | 5,142.9 | 6,000.1 | 5,665.6 | ||||||||
Total capitalization | $ | 6,110.7 | $ | 6,974.2 | $ | 6,640.8 | |||||
Capitalization ratios: | |||||||||||
Debt | 15.8 | % | 14.0 | % | 14.7 | % | |||||
Common shareholders' equity | 84.2 | 86.0 | 85.3 | ||||||||
Total | 100.0 | % | 100.0 | % | 100.0 | % |
Managing Old Republic's Insurance Business for the Long-Run |
• | About Old Republic |
• | Conference Call Information |
• | Safe Harbor Statement |
• | A financial supplement to this news release is available on the Company's website: |
ORI | Selected Indices' Compounded | |||||||||
Annual | Annual | Total Annual Returns | ||||||||
Book Value | Market Value | Nominal | ||||||||
Compounded | Compounded | Gross | S & P | S & P | ||||||
Total | Total | Domestic | 500 | Insurance | ||||||
Return | Return | Product | Index | Index | ||||||
Ten Years 2000 - 2009 | 9.5 | % | 7.4 | % | 4.1 | % | -1.0 | % | -3.7 | % |
Ten Years 2010 - 2019 | 7.7 | % | 14.8 | % | 4.0 | % | 13.6 | % | 12.4 | % |
Twenty Years 2000 - 2019 | 8.6 | % | 11.0 | % | 4.1 | % | 6.1 | % | 4.1 | % |
For Old Republic's latest news releases and other corporate documents: Please visit us at www.oldrepublic.com | ||
Alternatively, please write or call: Investor Relations Old Republic International Corporation 307 North Michigan Avenue Chicago, IL 60601 312-346-8100 |
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M/4E
Cover Page |
Apr. 23, 2020 |
---|---|
Cover page. | |
Document Type | 8-K |
Document Period End Date | Apr. 23, 2020 |
Entity Registrant Name | OLD REPUBLIC INTERNATIONAL CORPORATION |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 001-10607 |
Entity Central Index Key | 0000074260 |
Amendment Flag | false |
Entity Tax Identification Number | 36-2678171 |
Entity Address, Address Line One | 307 North Michigan Avenue |
Entity Address, City or Town | Chicago |
Entity Address, State or Province | IL |
Entity Address, Postal Zip Code | 60601 |
City Area Code | (312) |
Local Phone Number | 346-8100 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock / $1 par value |
Trading Symbol | ORI |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |