newsfilter
← Latest News
Business Wire·

AM Best Affirms Credit Ratings of Old Republic International Corporation's Subsidiaries

  • AM Best affirmed an FSR of A+ (Superior) & Long-Term ICRs of "aa-" (Superior) for Old Republic Insurance Companies members.
  • AM Best affirmed an FSR of A+ (Superior) & Long-Term ICRs of "aa-" (Superior) for Old Republic Title Insurance Group (ORTIG) subsidiaries.
  • AM Best affirmed an FSR of A- (Excellent) & Long-Term ICR of "a-" (Excellent) for Old Republic Life Insurance Company (ORL).
  • AM Best affirmed an FSR of A (Excellent) & Long-Term ICR of "a+" (Excellent) for Old Republic Insurance Company of Canada.
  • The outlook for all affirmed ratings is stable.
  • All rated entities are subsidiaries of Old Republic International Corporation (NYSE: ORI).
  • Old Republic ratings reflect strongest balance sheet strength, strong operating performance, favorable business profile, & appropriate ERM.
  • ORTIG ratings reflect strongest balance sheet strength, adequate operating performance, neutral business profile, appropriate ERM, & implicit support from the parent enterprise.
  • ORTIG benefits from variable expense structures via independent agents, strong reserving practices, & continued profitability.
  • ORL ratings reflect very strong balance sheet strength, adequate operating performance, limited business profile, & strongest risk-adjusted capitalization.
  • ORL earnings remain positive despite declining premiums due to closed-term blocks & lower occupational accident trends.
  • Old Republic Canada ratings reflect very strong balance sheet strength, adequate operating performance, neutral business profile, & strategic importance.
  • Old Republic Canada ratings recognize synergies with Great West Casualty Company but note limited product offerings & a challenging Canadian market.
  • Affirmed members of Old Republic Insurance Companies include BITCO General, BITCO National, Great West Casualty, Manufacturers Alliance, Old Republic General, Old Republic Insurance, Old Republic Surety, Old Republic Union, Pennsylvania Manufacturers Indemnity, & Pennsylvania Manufacturers' Association.