earnings
confidence high
sentiment neutral
materiality 0.75
Old Republic Q2 net income up 58% to $322M; operating EPS down 9% to $0.76
OLD REPUBLIC INTERNATIONAL CORP
- Net income $322.3M vs $204.4M; net operating income $186.0M vs $209.2M (down 11%).
- Combined ratio worsened to 95.3% from 93.6%; favorable reserve development fell to 0.1 pts from 2.1 pts.
- Specialty Insurance underwriting income halved to $59.3M; combined ratio 95.5% vs 90.7%.
- Title Insurance underwriting income surged to $37.6M from $6.9M; combined ratio improved to 95.1%.
- Closed acquisition of Everett Cash Mutual (effective July 1); expects ~$125M gain and accretion in 2026.