Financial Performance - Fourth quarter net income of $105.1 million, down from $190.6 million in the same quarter last year, resulting in a diluted net income per share of $0.42 compared to $0.69[5][3] - Consolidated pretax operating income for the fourth quarter was $285.0 million, a 20.2% increase from $237.1 million in the previous year[2][5] - Total capital returned to shareholders was $733 million in the fourth quarter and $1,708 million for the full year[5] - The consolidated net income excluding investment gains for 2024 was $227.0 million, reflecting a 19.2% increase compared to $190.4 million in 2023[11] - The total consolidated income for 2024 was $7,310.8 million, a 9.0% increase from $6,707.7 million in 2023[11] Premiums and Fees - Net premiums and fees earned increased by 11.4% in the fourth quarter to $1,941.5 million, and by 9.0% for the full year to $7,310.8 million[5][8] - Specialty Insurance net premiums earned increased by 13.3% for Q4 2024 and 13.5% for the full year, reaching $1,237.2 million and $4,677.0 million respectively, driven by premium rate increases and high renewal retention ratios[14] - Title Insurance net premiums and fees earned increased by 8.7% for the quarter and 2.2% for the full year, with commercial premiums representing approximately 23% of net premiums earned in Q4 2024 compared to 21% in 2023[18] Investment Income - Net investment income rose by 9.8% in the fourth quarter to $170.3 million, and by 16.4% for the full year to $673.1 million[5][8] - The net investment income for the full year increased by 16.4% to $673.1 million, up from $578.3 million in 2023, primarily due to higher investment yields[11][15] - Net investment income rose to $16.0 million in Q4 2024, reflecting a 7.5% increase from $14.9 million in Q4 2023, and a full year increase of 10.8% to $63.2 million[18] Ratios and Performance Metrics - The consolidated combined ratio improved to 92.7% in the fourth quarter from 93.3% last year, while the full year ratio was 93.9%, slightly up from 92.6%[5][2] - The consolidated combined ratio improved to 92.7% for Q4 2024, down from 93.3% in Q4 2023, indicating better underwriting performance[11] - The loss ratio for Specialty Insurance improved to 64.1% for the full year 2024, compared to 65.1% in 2023, reflecting favorable prior year loss reserve development[14][16] - The expense ratio for Specialty Insurance was 27.7% for Q4 2024, slightly up from 26.9% in Q4 2023, reflecting costs incurred to start-up new underwriting subsidiaries[14][16] - The loss ratio for the current year improved to 3.3% in Q4 2024, compared to 3.4% in Q4 2023, indicating favorable claim trends[19] Shareholder Returns - Cash dividends declared on common stock increased to $2.265 per share in the fourth quarter from $0.245 last year[8] - Shareholders' equity per share decreased to $22.84 in Q4 2024, down 11.2% from $25.71 in Q4 2023, influenced by a special cash dividend of $2.00 per share[28] - Total capital returned to shareholders during the quarter was $733 million, comprising $558 million in dividends and $174 million in share repurchases[28] Segment Performance - The Specialty Insurance segment pretax operating income rose by 17.0% to $228.0 million for Q4 2024, compared to $194.8 million in Q4 2023[14] - Operating revenues for the Title Insurance segment reached $717.8 million in Q4 2024, an 8.7% increase from $660.5 million in Q4 2023, and $2,682.9 million for the full year, up 2.4% from $2,620.6 million[18] - Segment pretax operating income increased by 26.3% to $55.4 million in Q4 2024, and by 7.9% to $144.1 million for the full year[18] Market and Economic Factors - The company experienced a decline in transactional risk premiums, which produced $19.4 million of net premiums earned in 2024, due to market conditions[14] - Title Insurance results are affected by national and regional housing demand, mortgage loan availability, and employment trends[35] - Life and accident insurance earnings are impacted by employment levels, consumer spending, and health trends[35] Risk Management and Forward-Looking Statements - The company has a risk management framework that includes various risks outlined in its 2023 Form 10-K[36] - Forward-looking statements made by the company involve assumptions and uncertainties that may affect future performance[35] - Old Republic does not undertake any obligation to publicly update or revise forward-looking statements[37] Corporate Information - The company renamed its reportable segment from "General Insurance" to "Specialty Insurance" to better reflect its niche market strategy[10] - Old Republic International Corporation is one of the nation's 50 largest shareholder-owned insurance businesses and ranks third in the title insurance industry[32] - The company has scheduled a conference call to discuss its fourth quarter 2024 performance and major operating trends[33] - The long-term nature of the insurance business and various external factors can significantly impact future operating results[34]

Financial Performance - Old Republic International (ORI) reported revenue of $2.16 billion for the quarter ended December 2024, reflecting an 11.1% increase year-over-year [1] - Earnings per share (EPS) were $0.90, up from $0.69 in the same quarter last year, indicating a significant improvement [1] - The reported revenue exceeded the Zacks Consensus Estimate of $2.11 billion by 2.03%, while the EPS surpassed the consensus estimate of $0.67 by 34.33% [1] Key Metrics - General Insurance Segment reported a loss ratio of 64.1%, better than the average estimate of 66.2% [4] - The expense ratio for the General Insurance Segment was 27.7%, compared to the estimated 28.2% [4] - Title Insurance Segment's combined ratio was 94.4%, significantly lower than the average estimate of 98% [4] Revenue Breakdown - General Insurance Segment net premiums earned were $1.24 billion, exceeding the average estimate of $1.22 billion, representing a 13.6% year-over-year increase [4] - General Insurance Segment net investment income was $142.50 million, slightly above the average estimate of $141.65 million, with a year-over-year change of 14.4% [4] - Title Insurance Segment operating revenue was $717.80 million, surpassing the average estimate of $687.37 million, reflecting an 8.7% increase year-over-year [4]

Core Viewpoint - Old Republic International (ORI) reported quarterly earnings of $0.90 per share, exceeding the Zacks Consensus Estimate of $0.67 per share, and showing an increase from $0.69 per share a year ago, indicating a strong earnings surprise of 34.33% [1][2] Financial Performance - The company achieved revenues of $2.16 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2.03% and up from $1.94 billion year-over-year [2] - Over the last four quarters, Old Republic has consistently exceeded consensus EPS estimates and revenue expectations [2] Stock Performance and Outlook - Old Republic shares have declined approximately 1.2% since the beginning of the year, contrasting with the S&P 500's gain of 3.5% [3] - The company's future stock performance will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is $0.74, with expected revenues of $2.02 billion, and for the current fiscal year, the EPS estimate is $3.08 on revenues of $8.72 billion [7] - The estimate revisions trend for Old Republic is currently mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market [6] Industry Context - The Insurance - Multi line industry, to which Old Republic belongs, is currently ranked in the bottom 45% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of Old Republic's stock may also be influenced by the overall outlook for the industry [8]

Dollar amounts (other than per share amounts) are presented in millions, except as otherwise indicated. CHICAGO, Jan. 23, 2025 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) today reported the following results for the fourth quarter and full year 2024: Fourth quarter net income per diluted share of $0.42, compared to $0.69 last year. Fourth quarter net operating income (net income excluding investment gains or losses) per diluted share of $0.90, compared to $0.69 last year. Consolidate ...

Analysts on Wall Street project that Old Republic International (ORI) will announce quarterly earnings of $0.67 per share in its forthcoming report, representing a decline of 2.9% year over year. Revenues are projected to reach $2.11 billion, increasing 8.9% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company r ...

Old Republic International Corporation (ORI) has been trading below its 50-day simple moving average (SMA), signaling a short-term bearish trend. As of Jan. 14, 2025, its share price was $34.55, down 12% from its 52-week high of $39.27.The 50-day SMA is a key indicator for traders and analysts to identify support and resistance levels. It is considered particularly important as this is the first marker of an uptrend or downtrend. With a market capitalization of $8.8 billion, Old Republic International is th ...

CHICAGO, Jan. 9, 2025 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) — today announced that it will report financial results for the fourth quarter of 2024 before the market opens on Thursday, January 23, and will hold a conference call at 3:00 p.m. Eastern time to discuss results. The call can be accessed live on Old Republic's website at www.oldrepublic.com or by dialing 888-510-2411, passcode 4060501. Investors may also access a replay of the call by dialing 1-800-770-2030, passcode 4 ...

CHICAGO, Jan. 6, 2025 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) – today announced that it is forming a new underwriting subsidiary to provide Cyber and Technology Errors and Omission (E&O) insurance products. The new company, Old Republic Cyber, Inc., will focus on providing specialized Cyber- and Technology-related coverage and will be led by CJ Pruzinsky as President and Kevin McGowan as Executive Vice President and Chief Underwriting Officer. A graduate of William Paterson Univer ...

CHICAGO, Dec. 13, 2024 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) – today announced its Board of Directors has declared a special cash dividend of $2.00 per share. This special dividend is payable on January 15, 2025 to shareholders of record on January 3, 2025 and will return approximately $500 million to shareholders. In the fourth quarter to date, Old Republic has purchased $174 million under a $1.1 billion share repurchase authorization approved by the Board on February 29, 2024, ...

Old Republic International Corporation (ORI) shares are trading at a discount to the Zacks Multi-line Insurance industry. Its forward price-to-book value of 1.43X is lower than the industry average of 2.31X, the Finance sector’s 3.72X and the Zacks S&P 500 composite’s 8.83X. It has a Value Score of A. Image Source: Zacks Investment ResearchThe insurer has a market capitalization of $9.23 billion. The average volume of shares traded in the last three months was 1.12 million.The stock remains attractively val ...