---
schema_version: "secwatch.filing_event.v1"
accession: "0000074260-26-000066"
form_type: "8-K"
ticker: "ORI"
cik: "0000074260"
company_name: "OLD REPUBLIC INTERNATIONAL CORP"
filed_at: "2026-04-23T23:59:59+00:00"
generated_at: "2026-05-15T04:43:27.146772+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Old Republic Q1 net income $330M beats last year; operating EPS falls 15% to $0.68

## Summary
- Net income of $330M ($1.32 diluted EPS) vs $245M ($0.98) YoY; net operating income of $170.5M ($0.68) down 15.4%.
- Consolidated combined ratio worsened to 96.6% from 93.7%, driven by higher expense ratio in Specialty Insurance.
- Specialty Insurance underwriting income fell 46.7% to $67.2M; Title Insurance underwriting loss narrowed to ($0.5M) from ($12.2M).
- Book value per share $24.53, up 1.3% from Dec 2025; $237.5M returned to shareholders via dividends and buybacks.
- Proposed acquisition of Everett Cash Mutual received regulatory approval, expected to close early Q3 2026.

## SEC filing metadata
- accession: 0000074260-26-000066
- form_type: 8-K
- ticker: ORI
- cik: 0000074260
- company_name: OLD REPUBLIC INTERNATIONAL CORP
- filed_at: 2026-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/74260/000007426026000066/0000074260-26-000066-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/74260/000007426026000066/ori-20260423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000074260-26-000066
- JSON: https://secwatch.observer/filing/0000074260-26-000066.json
- Plain text: https://secwatch.observer/filing/0000074260-26-000066.txt

## Key facts
- Earnings Releases
  OLD REPUBLIC INTERNATIONAL CORP reported the first quarter 2026 results: revenue $1.97 billion, net income $330.0 million, EPS $ 1.32.
  - Period: the first quarter 2026
  - Revenue: $1.97 billion
  - Net income: $330.0 million
  - EPS: $ 1.32
  - Result: reported results
  source text: Old Republic International Corporation (NYSE: ORI) today reported the following results for the first quarter 2026: • Net income of $330.0 million, compared to $245.0 million last year. • Net income excluding investment gains (net operating income) of $170.5 million, compared to $201.7 million last year. • Net operating income per diluted share of $0.68, compared to $0.81 last year. • Consolidated net premiums and fees earned of $1.97 billion, compared to nearly $1.85 billion last year. • Net investment income of $178.0 million, compared to $170.7 million last year. • Consolidated combined ratio of 96.6%, compared to 93.7% last year. • Favorable loss reserve development of 1.5 points, compared to 2.6 points last year. • Book value per share of $24.53, inclusive of dividends declared, up 2.6% since year-end 2025. • Annualized operating return on equity of 11.5%. • Total capital returned to shareholders of $237.5 million. Dollar amounts (other than per share amounts) are presented in mil
  evidence_url: https://www.sec.gov/Archives/edgar/data/74260/000007426026000066/0000074260-26-000066-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.