Information About Segments of Business (Tables)

12 Months Ended

Dec. 31, 2020

The accounting policies of the segments parallel those described in the summary of significant accounting policies pertinent thereto.


Segmented and Consolidated Results
Years Ended December 31:	2020		2019		2018
General Insurance (a):
Net premiums earned	$	3,394.2	$	3,432.4	$	3,277.1
Net investment income and other income	482.6		488.4		462.3
Total revenues excluding investment gains (losses)	$	3,876.8	$	3,920.8	$	3,739.4
Segment pretax operating income (loss) (b)	$	439.8	$	370.2	$	363.9
Income tax expense (credits) on above	$	82.6	$	69.9	$	62.6


Title Insurance:
Net premiums earned (d)	$	2,894.4	$	2,414.8	$	2,283.3
Title, escrow and other fees (d)	391.9		321.1		289.8
Sub-total (d)	3,286.3		2,736.0		2,573.1
Net investment income and other income	42.9		42.1		39.2
Total revenues excluding investment gains (losses)(d)	$	3,329.3	$	2,778.1	$	2,612.4
Segment pretax operating income (loss) (b)	$	344.0	$	230.8	$	219.3
Income tax expense (credits) on above	$	72.0	$	49.5	$	46.2


RFIG Run-off Business (a):
Net premiums earned	$	45.1	$	59.2	$	75.9
Net investment income and other income	15.2		17.6		20.1
Total revenues excluding investment gains (losses)	$	60.4	$	76.8	$	96.1
Segment pretax operating income (loss)	$	9.8	$	30.3	$	49.9
Income tax expense (credits) on above	$	1.5	$	5.8	$	10.1


Consolidated Revenues:
Total revenues of Company segments (d)	$	7,266.6	$	6,775.9	$	6,448.1
Other sources (c)	149.6		170.0		169.1
Consolidated investment gains (losses):
Realized from actual transactions and impairments	14.2		36.6		58.2
Unrealized from changes in fair value of equity securities	(156.2)		599.5		(293.8)
Total realized and unrealized investment gains (losses)	(142.0)		636.1		(235.6)
Consolidation elimination adjustments	(108.2)		(121.4)		(122.7)
Consolidated revenues (d)	$	7,166.0	$	7,460.5	$	6,258.8


Consolidated Pretax Income (Loss):
Total segment pretax operating income (loss) of
Company segments	$	793.7	$	631.4	$	633.2
Other sources - net (c)	36.7		54.8		40.4
Consolidated investment gains (losses):
Realized from actual transactions and impairments	14.2		36.6		58.2
Unrealized from changes in fair value of equity securities	(156.2)		599.5		(293.8)
Total realized and unrealized investment gains (losses)	(142.0)		636.1		(235.6)
Consolidated income (loss) before income taxes (credits)	$	688.4	$	1,322.4	$	438.1


Consolidated Income Tax Expense (Credits):
Total income tax expense (credits) of Company segments	$	156.2	$	125.3	$	119.0
Other sources - net (c)	3.4		6.6		(1.8)
Income tax expense (credits) on consolidated realized
and unrealized investment gains (losses)	(29.8)		133.8		(49.6)
Consolidated income tax expense (credits)	$	129.7	$	265.9	$	67.5


December 31:	2020		2019
Consolidated Assets:
General Insurance	$	19,226.1	$	17,870.0
Title Insurance	1,920.9		1,695.0
RFIG Run-off Business	582.9		615.1
Total assets of company segments	21,730.0		20,180.2
Other assets (c)	1,318.2		1,095.4
Consolidation elimination adjustments	(233.0)		(199.3)
Consolidated assets	$	22,815.2	$	21,076.3

__________

In the above tables, net premiums earned on a GAAP basis differ slightly from statutory amounts due to certain differences in calculations of unearned premium reserves under each accounting method.

(a) Results for the Consumer Credit Indemnity ("CCI") run-off business are expected to be immaterial in the remaining run-off periods. Effective July 1, 2019, these results have been reclassified to the General Insurance segment for all future periods. Previously these results were reflected as part of the RFIG Run-off Business.

(b) Segment pretax operating income (loss) is reported net of interest charges on intercompany financing arrangements with Old Republic's holding company parent for the following segments: General - $63.0, $71.5 and $68.0 for the years ended December 31, 2020, 2019, and 2018, respectively; Title - $2.8, $5.5 and $6.1 for the years ended December 31, 2020, 2019, and 2018, respectively.

(c) Includes amounts for a small life and accident insurance business as well as those of the parent holding company and its internal corporate services subsidiaries.

(d) Reclassification adjustments were made to certain Title segment revenues and expenses in prior periods to conform to the presentation adopted in 2020. See Note 1(c).