2020 Performance Highlights - Operating EPS reached $2.24, a 22% increase compared to 2019[11] - Operating Revenues totaled $7.31 billion, up 7% from 2019[11] - The combined ratio improved to 93.3, a 2-point improvement from 95.3 in 2019[11] - Book Value Per Share increased by 13% to $20.75, inclusive of dividends, from year-end 2019[11] - Shareholders' Equity rose to $6.19 billion, up from $6.00 billion at the end of 2019[11] 1st Quarter 2021 Highlights - Operating EPS increased by 47% to $0.69, from $0.47 in the first quarter of 2020, driven by underwriting strength in both General Insurance & Title[12] - Net Premiums & Fees Earned increased by 18% to $1.83 billion, driven by Title Insurance (up 40%) and General Insurance (up 1%)[12] - The combined ratio decreased by 4.2 points to 90.9, versus 95.1 last year[12] - Book Value Per Share was $21.59, up 5.1% from 4Q20, inclusive of dividends[12] Business Profile - General Insurance accounted for 53% and Title Insurance for 46% of the company's operating revenue in 2020[14] - The General Insurance segment had $3.8 billion in operating revenue with a steady 96 combined ratio over 15 years[14] - The Title Insurance segment had $3.3 billion in operating revenue with low 90's combined ratios[14] Dividend Record - The company has a shareholder-friendly dividend track record, paying dividends for 80 straight years and increasing the annual dividend for 40 straight years[33]
Old Republic International (ORI) - 2021 FY - Earnings Call Presentation