Every material Form 8-K Old Republic International has filed with the SEC since March 08, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Old Republic reported third quarter 2026 net income of $243.2 million, down from $279.5 million a year earlier, and net operating income of $181.4 million, down 7.8% from $196.7 million. Net premiums and fees earned rose to nearly $2.3 billion, but the combined ratio worsened to 96.1% from 95.3%, and net income was supported by a $124.9 million bargain purchase gain from the ECM Insurance Group acquisition.
Net operating income of $181.4 million, or $0.73 per diluted share, versus $196.7 million, or $0.78, a year earlier.
Net income of $243.2 million included a $124.9 million bargain purchase gain and $63.2 million in net realized investment losses.
Net premiums and fees earned were nearly $2.3 billion versus nearly $2.1 billion; combined ratio was 96.1% versus 95.3%.
Total capital returned to shareholders was $190.2 million, including $113.8 million in share repurchases; book value per share was $24.65.
Old Republic reported second-quarter 2026 net income of $322.3 million, up from $204.4 million a year earlier, largely due to investment gains. Net income excluding investment gains fell 11.1% to $186.0 million, and net operating income per diluted share declined to $0.76 from $0.83, while net premiums and fees earned rose 5.2% to nearly $2.1 billion.
Net income $322.3 million vs. $204.4 million; net of tax investment gains were $136.2 million vs. a $4.7 million loss
Net operating income $186.0 million vs. $209.2 million; diluted per-share figure $0.76 vs. $0.83
Consolidated combined ratio 95.3% vs. 93.6%; book value per share $25.33, up 7.2% including dividends since year-end 2025
Acquisition of Everett Cash Mutual Insurance Co. closed July 1, 2026; company expects a gain of approximately $125 million
Old Republic International priced a registered underwritten offering of $700 million in 5.700% senior notes due June 1, 2036, on May 13, 2026. The company issued the notes under an indenture with Wilmington Trust Company as trustee, adding $700 million of direct debt to its obligations.
Principal amount of $700 million; interest of 5.700% paid semi-annually on June 1 and December 1, starting December 1, 2026
Notes mature June 1, 2036; redeemable at any time before March 1, 2036 at the greater of par or a Treasury-based make-whole price plus 20 basis points
Underwriters are Morgan Stanley & Co. LLC and PNC Capital Markets LLC; trustee is Wilmington Trust Company
Old Republic International reported first-quarter 2026 net income of $330.0 million, up from $245.0 million a year earlier, helped by $201.8 million of investment gains. Excluding investment gains, net operating income fell 15.4% to $170.5 million, and the combined ratio worsened to 96.6% from 93.7%, which matters to shareholders because the insurance operations earned less.
Net operating income per diluted share was $0.68, compared with $0.81 a year earlier.
Net investment gains were $201.8 million, compared with $55.0 million a year earlier.
Specialty Insurance combined ratio rose to 94.8% from 89.8%, with less favorable prior year reserve development.
Total capital returned to shareholders was $237.5 million, including $160.7 million in share repurchases.
Old Republic reported fourth-quarter 2025 net income of $206.3 million, up from $105.1 million a year earlier. Net income excluding investment gains (losses) fell 18.6% to $184.7 million, and operating EPS was $0.74 versus $0.90, as the combined ratio rose to 96.0% from 92.7%. Net premiums and fees earned rose 9.8% to $2.1 billion, but the core insurance profit measure declined for shareholders.
Net income of $206.3 million versus $105.1 million, including $21.5 million net of tax investment gains
Net income excluding investment gains of $184.7 million versus $227.0 million, down 18.6%
Operating EPS of $0.74 versus $0.90; combined ratio of 96.0% versus 92.7%
Net premiums and fees earned of $2.1 billion, up 9.8%; total capital returned to shareholders of $742 million in the quarter
Old Republic International reported third-quarter 2025 net income of $279.5 million, down from $338.9 million a year earlier, as investment gains fell. Net income excluding investment gains rose 7.7% to $196.7 million, and net operating income per diluted share rose to $0.78 from $0.71, so the results show a split picture for shareholders.
Net income of $279.5 million versus $338.9 million in the third quarter of 2024
Net income excluding investment gains of $196.7 million, up 7.7%; per diluted share $0.78 versus $0.71
Consolidated net premiums and fees earned of $2.1 billion, up 8.1%; combined ratio 95.3% versus 95.0%
Total capital returned to shareholders of $115 million in the quarter
Old Republic International reported second-quarter 2025 net income of $204.4 million, up from $91.8 million a year earlier, and net operating income per diluted share of $0.83, up 9.2% from $0.76. Total operating revenues rose 10.1% to $2.2 billion, while the consolidated combined ratio was 93.6%, close to 93.5% a year earlier. Book value per share reached $25.14, up 12.6% since year-end 2024 including dividends declared, which is the measure the company highlights for shareholders.
Net income was $204.4 million for the quarter, compared with $91.8 million a year earlier.
Net operating income per diluted share was $0.83, compared with $0.76, an increase of 9.2%.
Net premiums and fees earned rose 11.0% to $1,994.6 million; Specialty Insurance premiums grew 14.6%.
Book value per share was $25.14 at June 30, 2025, up 12.6% since year-end 2024 including dividends declared.
Old Republic International reported first-quarter 2025 results, with GAAP net income of $245.0 million, down from $316.7 million a year earlier, mainly because investment gains fell. Excluding investment gains, net operating income rose 9.2% to $201.7 million, and diluted operating EPS rose 20.9% to $0.81, which matters to shareholders because the company says that measure better reflects its insurance operations.
GAAP net income was $245.0 million, or $0.98 per diluted share, versus $316.7 million, or $1.15, in Q1 2024.
Net income excluding investment gains was $201.7 million, up 9.2%; diluted operating EPS was $0.81 versus $0.67.
Net premiums and fees earned were over $1.8 billion, up 12.1%; combined ratio was 93.7% versus 94.3%.
Book value per share was $24.19 at March 31, 2025, up from $22.84 at December 31, 2024; $93 million was returned to shareholders in the quarter.
Old Republic International reported fourth-quarter 2024 diluted net income of $0.42 per share, down from $0.69 a year earlier, after $154.4 million in pretax investment losses. Excluding investment gains and losses, diluted operating income rose to $0.90 per share from $0.69, with net premiums and fees earned up 11.4% and the combined ratio improving to 92.7% from 93.3%, while the company also disclosed a special cash dividend of $2.00 per share.
Q4 2024 diluted net income of $0.42 per share vs. $0.69 in Q4 2023; investment losses cost $0.48 per share
Q4 2024 diluted net income excluding investment gains (losses) of $0.90 per share, up 30.4%
Full-year 2024 diluted net income of $3.24 per share vs. $2.10 in 2023; full-year combined ratio of 93.9% vs. 92.6%
Special cash dividend of $2.00 per share declared in Q4 and paid in January 2025; total capital returned in Q4 was $733 million
Old Republic International reported third-quarter 2024 net income of $338.9 million, up from $52.6 million a year earlier, largely due to investment gains. Excluding investment gains and losses, net income fell 8.7% to $182.7 million, and the combined ratio rose to 95.0% from 91.9%, so shareholders see higher reported profit but weaker underlying operating results.
Diluted net income per share was $1.32, versus $0.19 in the third quarter of 2023.
Diluted net income excluding investment gains and losses was $0.71, versus $0.72 a year earlier.
Total operating revenues rose 10.1% to $2,144.0 million, and the combined ratio was 95.0%, up from 91.9%.
Capital returned to shareholders in the quarter totaled $232 million, including $165 million in share repurchases.
Old Republic International Corporation adopted an unfunded, nonqualified deferred compensation plan on September 18, 2024, effective January 1, 2025, for a select group of management and highly compensated employees. The filing states the plan carries no dollar amount and that the company may credit participant accounts at its sole discretion, so the filing does not show a direct financial effect on shareholders.
Plan adopted September 18, 2024, effective January 1, 2025
Participation limited to designated management and highly compensated employees
Company may make discretionary contributions; participant obligations are unsecured general creditor claims
Old Republic International reported second-quarter 2024 results on July 25, 2024. Pretax income excluding investment gains and losses rose 11.6% to $253.8 million, and diluted earnings per share excluding investment gains rose 22.6% to $0.76. Net income fell to $91.8 million from $155.5 million because of $140.5 million in pretax investment losses, so reported results declined even as operating results improved.
Pretax income excluding investment gains (losses) was $253.8 million, up from $227.3 million a year earlier.
Net income was $91.8 million, down from $155.5 million; pretax investment losses were $140.5 million in the quarter.
Diluted net income per share was $0.35, down from $0.54; excluding investment gains and losses it was $0.76, up from $0.62.
The company returned $479 million to shareholders in the quarter, including $410 million in share repurchases; book value per share was $23.59.
Old Republic International reported first-quarter 2024 results, with diluted net income of $1.15 per share, up from $0.68 a year earlier, and diluted net income excluding investment gains of $0.67 per share, up 9.8%. General Insurance pretax operating income rose 14.1%, while Title Insurance pretax operating income fell to $2.3 million from $17.4 million, and the combined ratio rose to 94.3% from 92.7%.
Diluted net income of $1.15 per share versus $0.68 a year earlier; excluding investment gains, $0.67 per share, up 9.8%
Net premiums and fees earned of $1,642.7 million, up 5.6%; General Insurance up 13.1%, Title Insurance down 6.5%
Title Insurance pretax operating income of $2.3 million versus $17.4 million; combined ratio 102.5% versus 99.3%
Capital returned to shareholders of $264 million in the quarter, including $193 million in share repurchases, plus $146 million more in repurchases after quarter end
Old Republic International priced a registered public offering of $400 million in 5.750% senior notes maturing March 28, 2034, under an underwriting agreement with Morgan Stanley and PNC Capital Markets. The notes add $400 million of direct debt to the company's obligations, with interest paid semi-annually starting September 28, 2024.
Aggregate principal amount of $400,000,000 at a 5.750% fixed interest rate
Notes mature March 28, 2034, and are redeemable before December 28, 2033 at the greater of par or a Treasury-based make-whole price
Issued under an indenture with Wilmington Trust Company as trustee; default acceleration possible at 25% holder request
Old Republic International Corporation increased its board from 13 to 14 directors and appointed Therace M. Risch as a Class 2 director, effective March 18, 2024. The Board has determined she is independent, and she will join the Audit Committee and the Governance and Nominating Committee.
Board size increased from 13 to 14 directors, effective March 18, 2024.
Therace M. Risch appointed Class 2 director effective March 18, 2024; she will stand for election at the 2025 annual meeting.
Committee assignments: Audit Committee and Governance and Nominating Committee.
Currently Executive Vice President and Chief Information & Technology Officer at American Electric Power Company, Inc.; previously held IT roles at J.C. Penney Company, Inc. and COUNTRY Financial.
On March 6, 2024, Old Republic's Board and Compensation Committee granted restricted and performance-based stock units to four named executive officers under its 2022 Incentive Compensation Plan. The filing also amends the form of option award agreement to extend exercise rights for employees whose employing affiliate is divested, which matters to shareholders as a routine compensation update that sets performance criteria for future share payouts.
RSU grants: Craig R. Smiddy 28,912 units; Frank J. Sodaro 9,032; W. Todd Gray 10,537; Stephen J. Oberst 12,042, vesting in three equal annual installments starting one year after the award
PSU grants: Craig R. Smiddy 86,737 units; Frank J. Sodaro 27,100; W. Todd Gray 31,700; Stephen J. Oberst 36,250, tied to 3-year average operating ROE and 3-year book value per share total return, each weighted 50%
Option award agreement amended so vested options in a divested affiliate can be exercised until the earlier of expiration or the fourth anniversary of the divestment
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