Old Republic Q1 operating EPS $0.61, down 3%; Title premiums plunge 42%

OLD REPUBLIC INTERNATIONAL CORP

2023-Q1 EPS reported $0.68 revenue$1,758,700,000

Net income excluding investment gains $179.2M ($0.61 diluted EPS), down 6.6% YoY.
General Insurance pretax operating income rose 35.6% to $193.2M; combined ratio improved to 89.3%.
Title Insurance net premiums and fees earned fell 41.6% to $583.2M; operating income dropped 78.5%.
Net investment income grew 29.7% to $137.8M on higher yields.
Returned $204M to shareholders via dividends and buybacks; completed buyback program post-quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OLD REPUBLIC INTERNATIONAL CORP reported the quarter ended March 31, 2023 results: revenue $1,758.7, net income $199.8, EPS $0.68 per diluted share.

Period: the quarter ended March 31, 2023
Revenue: $1,758.7
Net income: $199.8
EPS: $0.68 per diluted share
Result: reported results

Exact text from the filing

Realized from actual transactions and impairments 28.2 65.2 Unrealized from changes in fair value of equity securities (2.0) 79.8 Total investment gains 26.2 145.1 Total revenues 1,758.7 2,206.6 Operating expenses: Loss and loss adjustment expenses 603.9 607.9 (0.7) Sales and general expenses 888.6 1,199.0 (25.9) Interest and other charges 16.9 16.9 — Total

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Source: SEC EDGAR

accession 0000074260-23-000033

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