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PR Newswire·

OLD REPUBLIC REPORTS RESULTS FOR THE SECOND QUARTER AND FIRST HALF 2026

ORI
  • Old Republic International reported second quarter 2026 net income of $322.3 million, up from $204.4 million in the prior year.
  • Net operating income (excluding investment gains) for the quarter was $186.0 million, down from $209.2 million last year.
  • Consolidated net premiums and fees earned reached nearly $2.1 billion, an increase from nearly $2.0 billion in the prior year.
  • Net investment income rose to $182.0 million compared to $171.5 million in the previous year.
  • The consolidated combined ratio was 95.3%, compared to 93.6% in the prior year.
  • Favorable loss reserve development was 0.1 points, a decrease from 2.1 points in the prior year.
  • Book value per share was $25.33, representing a 7.2% increase since year-end 2025.
  • Annualized operating return on equity was 12.1%.
  • Total capital returned to shareholders totaled $137.4 million for the quarter.
  • Specialty Insurance segment net premiums written grew 9.0% for the quarter, driven by a large auto warranty program.
  • Specialty Insurance segment combined ratio increased to 95.5% due to unfavorable loss reserve development in run-off transactional risk business.
  • Title Insurance segment net premiums and fees earned increased 10.7% for the quarter, with a combined ratio of 95.1%.
  • Old Republic closed its acquisition of Everett Cash Mutual Insurance Co. effective July 1, 2026, with the business included in the Specialty Insurance segment starting in Q3 2026.
  • The Corporate & Other segment reported a pretax operating loss of $16.8 million, impacted by lower portfolio yields higher interest costs from new debt.
  • Consolidated fixed income securities short-term investments comprise approximately 84% of the investment portfolio, while equity securities make up 16%.
  • Total capital returned to shareholders for the first six months of 2026 was $374.9 million, consisting of dividends share repurchases.
  • A conference call to discuss these results is scheduled for July 23, 2026, at 3:00 p.m. ET.