Description

Old Republic International’s $161 Million Repurchase Quarter Signals Discipline!

Old Republic International reported first quarter 2026 results showing a decline in consolidated pretax operating income to $211.5 million from $252.7 million in the prior year period. The company’s consolidated combined ratio increased to 96.6% from 93.7% a year ago. Operating return on beginning equity was at 11.5%, with book value per share rising 2.6% inclusive of dividends. Within Specialty Insurance, net premiums earned rose 4.7% compared to the first quarter of 2025, reaching $209 million in pretax operating income down from $260 million a year earlier. The combined ratio in this segment was 94.8%, up from 89.8% in the prior year. The loss ratio increased to 63.6%, partly reflecting lower favorable prior-year loss reserve development, while expense ratio rose to 31.2%, driven by investments in newer operating companies and technology initiatives including modernization of core systems, data analytics, and AI.