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Old Republic’s Hidden Growth Engine — Title Revenue Just Reached $773 Million!

Old Republic International reported second quarter 2026 consolidated pretax operating income of $238 million, down from $268 million in the prior year period. The combined ratio increased slightly to 95.3% from 93.6% a year ago, reflecting a modest decline in underwriting profitability. Return on beginning equity was 12.1%, and book value per share, including dividends, rose 7.2% for the first half of the year. Specialty Insurance saw net premiums earned increase 2.3% year-over-year, generating $199 million in pretax operating income compared to $254 million previously, with a combined ratio rising to 95.5% from 90.7%. The division experienced unfavorable prior year loss reserve development, driven mainly by a runoff transactional risk business that required $40 million in reserve strengthening. Other specialty lines such as property and commercial auto recorded favorable reserve developments relative to the prior year.