Old Republic Q4 net income rises to $206.3 million; operating profit falls 18.6%
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.
Key points
- 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
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:17 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 22, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.