PR Newswire·Apr 23, 2026, 7:00 AM ET

OLD REPUBLIC REPORTS RESULTS FOR THE FIRST QUARTER 2026

ORI

Old Republic International reported first-quarter 2026 net income of $330.0 million, up from $245.0 million in the prior year.
Net operating income (excluding investment gains) was $170.5 million, a decrease from $201.7 million last year.
Net operating income per diluted share fell to $0.68 from $0.81 in the same period last year.
Consolidated net premiums \& fees earned increased to $1.97 billion, compared to $1.85 billion previously.
Net investment income rose to $178.0 million from $170.7 million a year ago.
The consolidated combined ratio worsened to 96.6% from 93.7% in the prior year.
Favorable loss reserve development was 1.5 points, down from 2.6 points last year.
Book value per share reached $24.53, representing a 2.6% increase since year-end 2025.
Annualized operating return on equity stood at 11.5%.
Total capital returned to shareholders totaled $237.5 million, consisting of dividends \& share repurchases.
Specialty Insurance segment net premiums earned grew 4.7% to $1.29 billion, while combined ratio rose to 94.8%.
Title Insurance segment net premiums \& fees earned increased 12.0% to $677.8 million, with a combined ratio of 100.1%.
The proposed acquisition of Everett Cash Mutual Insurance Co. received regulatory approval \& is expected to close in the third quarter of 2026.
The investment portfolio allocation was approximately 85% fixed income \& 15% equity securities as of March 31, 2026.
A conference call to discuss Q1 2026 results is scheduled for 3:00 p.m. ET on April 23, 2026.