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PR Newswire·

OLD REPUBLIC REPORTS RESULTS FOR THE THIRD QUARTER AND FIRST NINE MONTHS OF 2026

ORI
  • Old Republic International reported third-quarter 2026 net income of $243.2 million, a decrease from $279.5 million in the prior year.
  • Net operating income for the quarter was $181.4 million, down from $196.7 million last year, with diluted per-share income at $0.73 compared to $0.78.
  • Consolidated net premiums and fees earned reached nearly $2.3 billion in the quarter, up from nearly $2.1 billion in the prior year.
  • Net investment income increased to $185.4 million from $182.6 million, while the consolidated combined ratio rose to 96.1% from 95.3%.
  • The company recorded favorable loss reserve development of 1.1 points, down from 2.5 points in the previous year.
  • Book value per share stood at $24.65, reflecting a 5.7% increase since year-end 2025 inclusive of declared dividends.
  • Total capital returned to shareholders totaled $190.2 million, including $113.8 million in share repurchases & $76.3 million in dividends.
  • The Specialty Insurance segment experienced a 15.4% decline in underwriting income due to lower prior year loss reserve development, despite premium growth driven by the acquisition of ECM Insurance Group.
  • The Title Insurance segment posted a 15.9% increase in underwriting income, supported by higher favorable prior year loss reserve development & strong agency premium growth.
  • A $124.9 million bargain purchase gain was recognized from the July 1, 2026 acquisition of ECM Insurance Group, contributing significantly to overall net income.
  • Corporate & Other segment reported a pretax operating loss of $27.0 million, impacted by higher interest costs from new debt issuance & acquisition transaction costs.
  • Nine-month net income for 2026 totaled $895.6 million, compared to $729.0 million in the same period of 2025.
  • An annualized operating return on equity was reported at 12.1% for the period.
  • The consolidated investment portfolio allocation was approximately 86% in fixed income securities & short-term investments, with 14% in equity securities.