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Consolidated Quarterly Results - Unaudited
12 Months Ended
Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]  
Consolidated Quarterly Results - Unaudited Consolidated Quarterly Results - Unaudited
Old Republic's consolidated quarterly operating results for the two years ended December 31, 2023 and 2022 is presented below. In management's opinion, however, quarterly operating results for insurance enterprises such as the Company are not indicative of results to be achieved in succeeding quarters or years. The long-term nature of the insurance business, seasonal and cyclical factors affecting premium production, the fortuitous nature and, at times, delayed emergence of claims, and changes in yields on invested assets are some of the factors necessitating a review of operating results, changes in shareholders' equity, and cash flows for periods of several years to obtain a proper indicator of performance trends. The information below should be read in conjunction with the "Management Analysis of Financial Position and Results of Operations".

In management's opinion, normal recurring adjustments necessary for a fair statement of quarterly results have been reflected in the information which follows.
1st
Quarter
2nd
Quarter
3rd
Quarter
4th
Quarter
Year Ended December 31, 2023:
Operating Summary:
Net premiums, fees, and other income$1,594.6 $1,689.3 $1,801.1 $1,785.6 
Net investment income and investment gains (losses)164.0 108.9 (40.9)155.4 
Total revenues1,758.7 1,798.3 1,760.1 1,941.1 
Total expenses1,509.5 1,601.4 1,696.2 1,703.6 
Net income
$199.8 $155.5 $52.6 $190.6 
Net income per share:
Basic
$0.68 $0.55 $0.19 $0.70 
Diluted
$0.68 $0.54 $0.19 $0.69 
Average shares outstanding:
Basic291,945,750285,426,801277,010,690274,036,118
Diluted293,993,474287,882,787279,924,410277,226,628
1st
Quarter
2nd
Quarter
3rd
Quarter
4th
Quarter
Year Ended December 31, 2022:
Operating Summary:
Net premiums, fees, and other income$1,955.2 $2,020.0 $1,983.1 $1,866.9 
Net investment income and investment gains (losses)251.3 (209.6)(262.0)478.6 
Total revenues2,206.6 1,810.3 1,721.0 2,345.5 
Total expenses1,823.9 1,865.0 1,840.7 1,696.5 
Net income (loss)
$306.3 $(40.1)$(91.7)$512.1 
Net income (loss) per share:
Basic
$1.01 $(0.13)$(0.31)$1.74 
Diluted
$1.00 $(0.13)$(0.31)$1.73 
Average shares outstanding:
Basic303,582,578 303,793,432 303,652,802 294,290,072 
Diluted305,424,592 303,793,432 303,652,802 295,996,057