Old Republic International Corp (ORI) 10K Annual Reports & 10Q SEC Filings


NEWS RELEASE


At Old Republic:			At Financial Relations Board:

Craig R. Smiddy, President and CEO			Analysts/Investors: Joe Calabrese 212/827-3772

OLD REPUBLIC REPORTS RESULTS FOR THE FOURTH QUARTER AND FULL YEAR 2023



OVERALL RESULTS

	Quarters Ended December 31,								Years Ended December 31,
	2023			2022			% Change		2023			2022			% Change
Pretax income	$	237.4		$	649.0				$	747.4		$	857.4
Pretax investment gains (losses)	0.2			348.3					(190.9)			(201.1)
Pretax income excluding investment gains (losses)	$	237.1		$	300.6		(21.1)	%	$	938.4		$	1,058.6		(11.4)	%

Net income	$	190.6		$	512.1				$	598.6		$	686.4
Net of tax investment gains (losses)	0.1			275.2					(150.8)			(158.6)
Net income excluding investment gains (losses)	$	190.4		$	236.9		(19.6)	%	$	749.5		$	845.1		(11.3)	%

Combined ratio	93.3		%	89.6		%			92.6		%	91.0		%

PER DILUTED SHARE

	Quarters Ended December 31,								Years Ended December 31,
	2023			2022			% Change		2023			2022			% Change
Net income	$	0.69		$	1.73				$	2.10		$	2.26
Net of tax investment gains (losses)	—			0.93					(0.53)			(0.53)
Net income excluding investment gains (losses)	$	0.69		$	0.80		(13.8)	%	$	2.63		$	2.79		(5.7)	%

SHAREHOLDERS' EQUITY (BOOK VALUE)

									Dec. 31,			Dec. 31,
									2023			2022			% Change
Total									$	6,410.7		$	6,173.2		3.8	%
Per Common Share									$	23.31		$	21.07		10.6	%

________

All amounts in this report are stated in millions except where noted, common stock data and percentages.

CHICAGO – January 25, 2024 –

Old Republic International Corporation (NYSE: ORI) today reported pretax income, excluding investment losses (pretax operating income), of $237.1 for the quarter and $938.4 for the full year 2023. Title Insurance pretax operating income was relatively consistent for the quarter, but declined for the full year. General Insurance pretax operating income decreased for the quarter but was higher for the full year.

Results for the quarter and full year are summarized as follows:

•Consolidated combined ratios were 93.3% for the quarter and 92.6% for the full year.

•Consolidated net premiums and fees earned decreased 4.8% for the quarter and 12.6% for the full year. The continued decline in Title Insurance net premiums and fees earned was partially offset by strong growth in General Insurance.

•Net investment income increased 19.1% for the quarter and 25.8% for the full year driven by higher investment yields earned.

•Favorable loss reserve development improved the combined ratio by 4.7 percentage points for the quarter and 4.6 percentage points for the full year.

•Total capital returned to shareholders during the quarter was $122, comprised of $67 in dividends, and $55 of share repurchases. For the year, total capital returned was $806, comprised of $276 in dividends, and $530 of share repurchases.

•Book value per share grew to $23.31, a 15.3% increase for the full year, inclusive of dividends.

The following information was filed by Old Republic International Corp (ORI) on Thursday, January 25, 2024 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/74260/000007426024000021/ori-20231231.htm

View differences made from one year to another to evaluate Old Republic International Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Old Republic International Corp.

Continue

Assess how Old Republic International Corp's management team is paid from their Annual Proxy

Old Republic International Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2024 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Old Republic International Corp provided additional information to their SEC Filing as exhibits

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23: Consents Of Experts And Counsel

Exhibit 24: Power Of Attorney

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Exhibit 97: Ex-97

Ticker: ORI
CIK: 74260
Form Type: 10-K Annual Report
Accession Number: 0000074260-24-000021
Submitted to the SEC: Wed Feb 28 2024 3:49:55 PM EST
Accepted by the SEC: Wed Feb 28 2024
Period: Sunday, December 31, 2023
Industry: Surety Insurance

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/ori/0000074260-24-000021.htm

Old Republic International Corp (ORI) SEC Filing 10-K Annual Report for the fiscal year ending Sunday, December 31, 2023

SEC Filings

ORI Valuations

ORI Annual Reports

ORI Quarterly Reports

ORI Corporate News