OLD REPUBLIC INTERNATIONAL CORP

Listed Company

ORICIK 0000074260NYSELarge AcceleratedSurety InsuranceDelawareFY ends Dec 31

Period

FY 2025

Revenue

$9.14B

Net Income

$935.40M

Total Assets

$29.86B

Equity

$5.91B

Shares Out

245.73M

Op. Cash Flow

$1.16B

+ 13F Filer

Business

OLD REPUBLIC INTERNATIONAL CORP is a holding company engaged in the single business of insurance underwriting and related services. It offers specialty property & casualty commercial coverages (e.g., commercial auto, workers’ compensation, general liability, financial indemnity, property, excess & surplus, accident & health) and title insurance plus escrow, closing, construction disbursement, default management, and real estate information products, supported by investment management. Operations report through two principal segments—Specialty Insurance and Title Insurance—with Corporate & Other housing run-off and ancillary businesses. The company underwrites business across all 50 U.S. states, DC, U.S. territories and Canada, distributing primarily through independent agents and brokers, independent title agents, and its branch offices and owned agencies.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net premiums earned	7,789	7,026	6,446	7,342	7,560
Title, escrow, and other fees	264	284	262	333	444
Total premiums and fees	8,053	7,311	6,708	7,675	8,004
Net investment income	709	673	578	460	434
Other income	195	178	163	150	146
Total operating revenues	8,957	8,162	7,449	8,285	8,584
Consolidated net realized investment gains (losses)	202	89	−67	62	7
Unrealized from changes in fair value of equity securities	−22	−19	−124	−263	751
Total net investment gains (losses)	180	70	−191	−201	758
Total revenues	9,136	8,232	7,258	8,084	9,342
Loss and loss adjustment expenses	3,361	3,024	2,580	2,428	2,398
Dividends to policyholders	16	24	17	13	23
Underwriting, acquisition, and other expenses	4,505	4,036	3,844	4,719	4,942
Interest and other charges	70	77	71	67	56
Total expenses	7,952	7,162	6,511	7,226	7,420
Income before income taxes	1,184	1,070	747	857	1,922
Current	225	205	186	226	222
Deferred	17	12	−37	−55	166
Total income taxes	242	217	149	171	388
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	942	853	599	—	—
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	7	0	0	—	—
Net income to shareholders	935	853	599	686	1,534
Net income per share: basic (in dollars per share)	3.82	3.3	2.12	2.28	5.08
Net income per share: diluted (in dollars per share)	3.72	3.24	2.1	2.26	5.05
Weighted average number of shares outstanding, basic	245	258	283	302	302
Weighted Average Number of Shares Outstanding, Diluted	251	263	285	303	304

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Fixed income securities (at fair value) (amortized cost: $12,478.8 and $12,175.9)	12,710	12,092	12,140	11,747	10,676
Equity securities (at fair value) (cost: $1,377.7 and $1,410.7)	2,488	2,541	2,661	3,221	5,303
Short-term investments (at fair value which approximates cost)	1,614	1,404	1,033	861	566
Other investments	28	43	34	31	32
Total investments	16,839	16,079	15,868	15,860	16,576
Cash	263	202	203	81	158
Accrued investment income	141	128	117	107	84
Accounts and notes receivable	2,782	2,472	2,201	1,928	1,769
Reinsurance balances and funds held	405	423	545	323	258
Reinsurance recoverable: Paid losses	210	185	175	119	118
Reinsurance recoverable for loss and loss adjustment expense reserves	6,399	5,807	4,978	4,700	—
Unearned premium and policy reserves	1,131	922	798	769	—
Deferred policy acquisition costs	636	531	418	383	350
Other assets	1,056	1,094	982	875	830
Total assets	29,863	27,843	26,501	25,159	24,982
Loss and loss adjustment expense reserves	14,776	13,728	12,538	12,222	11,426
Unearned premiums	3,983	3,505	3,043	2,788	2,559
Other policyholders' benefits and funds held	178	174	150	182	193
Total policy liabilities	18,936	17,407	15,731	15,192	14,178
Commissions, expenses, fees, and taxes	602	548	533	515	574
Reinsurance balances and funds held	1,428	1,410	1,381	1,079	866
Deferred Tax Liabilities, Net	219	129	106	43	250
Debt	1,590	1,589	1,591	1,597	1,589
Other liabilities	1,159	1,142	692	561	633
Total liabilities	23,934	22,224	20,091	18,986	18,089
Preferred Stock	0	0	0	0	0
Common stock	246	249	278	297	308
Additional paid-in capital	23	0	679	1,142	1,376
Retained earnings	5,515	5,520	5,644	5,322	5,214
Accumulated other comprehensive income (loss)	163	−102	−132	−518	78
Unallocated 401(k) plan shares (at cost)	−34	−47	−58	−70	−83
Treasury Stock, Value	0	0	—	—	—
Total shareholders' equity	5,914	5,619	6,411	6,173	6,893
Equity, Attributable to Noncontrolling Interest	14	0	—	—	—
Equity, Including Portion Attributable to Noncontrolling Interest	5,928	5,619	—	—	—
Total liabilities and equity	29,863	27,843	26,501	25,159	24,982

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred policy acquisition costs	−105	−113	−35	−32	−22
Accounts and notes receivable	−279	−270	−274	−159	−175
Loss and loss adjustment expense reserves	438	355	93	222	280
Unearned premiums and other policyholders' liabilities	261	363	194	158	103
Federal income taxes	45	21	−47	−55	151
Reinsurance balances and funds held	13	141	24	147	37
Unrealized from changes in fair value of equity securities	22	19	124	263	−751
Other - net	29	−45	136	2	161
Total	1,164	1,233	880	1,171	1,312
Maturities and calls on fixed income securities	1,562	1,618	1,353	1,356	1,411
Fixed income securities	863	2,438	1,447	1,403	338
Equity securities	510	327	692	2,249	541
Other investments	4	11	15	11	8
Fixed income securities	−2,612	−4,014	−2,920	−5,010	−2,331
Equity securities	−183	−24	−92	−58	−1,032
Other investments	−120	−104	−106	−60	−56
Proceeds from Divestiture of Interest in Consolidated Subsidiaries	0	137	0	0	—
Net increase in short-term investments	−204	−391	−363	−296	184
Payments for (Proceeds from) Other Investing Activities	2	−1	300,000	−12	0
Total	−177	−4	25	−415	−937
Proceeds from Issuance of Long-term Debt	0	396	0	0	643
Issuance of common shares	4	2	31	27	60
Redemption of debentures and notes	0	−400	−5	0	−22
Dividends on common shares	−783	−272	−276	−580	−1,019
Treasury stock acquired	−124	−942	−535	−281	0
Other - net	−23	−11	2	2	3
Total	−926	−1,227	−783	−833	−336
Increase in cash	61	2	123	−77	39
Net Cash Provided by (Used in) Discontinued Operations	0	−3	−800,000	0	0
Cash paid during the period for: Interest	69	77	66	66	53
Income Taxes Paid, Federal & Foreign, Net	199	196	198	—	—

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 87 positions

Reported AUM

$4.93B

Holdings

Top sector

$4.93B

Top sectors

Sector	Value	% of portfolio
Uncategorized	$4.93B	100.0%

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