Old Republic International (ORI) - 2025 Q4 - Earnings Call Presentation

Financial Performance - Old Republic's total shareholder return for the past 10 years was 170%[3] - The company has raised its annual cash dividend for the past 44 years[4] - As of December 31, 2025, the market capitalization was $1124 billion and the stock price was $4564[6] - Shareholders' equity was $591 billion, with a book value per share (BVPS) of $2421[6] - Trailing four-quarter operating income was $7925 million, resulting in earnings per share (EPS) of $315 and an operating return on equity (ROE) of 141%[6] - Net premiums and fees earned increased by 98% in the fourth quarter of 2025, reaching $213 billion, driven by Specialty Insurance (up 83%) and Title Insurance (up 124%)[22] - The regular quarterly dividend was increased by 94% to $029[23] Business Segments - Specialty Insurance accounted for 67% of the $89 billion in 2025 operating revenue, while Title Insurance accounted for 33%[29] - The Title Insurance business holds a 140% market share, ranking it third largest in the industry[51] - Gross premiums and fees for Specialty Insurance in fiscal year 2025 totaled $878 billion[35] Capital Management - Since December 31, 2016, Old Republic has distributed $69 billion in dividends and share repurchases[4] - The company has $856 million remaining authorized for share repurchases[24, 66] - The investment portfolio is composed of 85% fixed income and 15% equities, totaling $168 billion[74]