Old Republic International Corporation (ORI) Bundle
A Brief History of Old Republic International Corporation (ORI)
Company Overview
Old Republic International Corporation (ORI) is a Chicago-based insurance holding company founded in 1923. As of 2024, the company operates through three primary segments: General Insurance Group, Title Insurance Group, and Republic Financial Indemnity Group.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $8.5 billion |
| Net Income | $644.2 million |
| Total Assets | $24.3 billion |
| Market Capitalization | $6.8 billion |
Segment Breakdown
- General Insurance Group: Provides commercial automobile, general liability, and workers' compensation insurance
- Title Insurance Group: Offers title insurance and real estate settlement services
- Republic Financial Indemnity Group: Provides mortgage and credit insurance
Stock Performance
| Stock Metric | 2024 Value |
|---|---|
| NYSE Ticker | ORI |
| Current Stock Price | $26.45 |
| Dividend Yield | 4.2% |
| Price-to-Earnings Ratio | 12.3 |
Corporate Governance
Board of Directors: Comprises 10 independent directors, with Craig R. Bickmore serving as Chairman.
Employee Information
Total number of employees: 9,200 as of 2024
A Who Owns Old Republic International Corporation (ORI)
Institutional Ownership
As of Q4 2023, institutional ownership of Old Republic International Corporation (ORI) stands at 78.41%.
| Top Institutional Shareholders | Shares Owned | Percentage |
|---|---|---|
| Vanguard Group Inc | 36,724,808 | 10.23% |
| BlackRock Inc. | 28,993,212 | 8.08% |
| State Street Corporation | 17,456,789 | 4.86% |
Insider Ownership
Insider ownership of ORI is approximately 1.2% as of December 2023.
Major Shareholders
- Craig Smiddy (President and CEO): 0.44% ownership
- Karl Mueller (CFO): 0.12% ownership
- Board of Directors collectively: 0.64% ownership
Public Float
Public float for ORI is 359,500,000 shares, representing 79.8% of total outstanding shares.
Old Republic International Corporation (ORI) Mission Statement
Corporate Overview
Old Republic International Corporation (ORI) is a financial services holding company with core business segments in insurance and title insurance.
Financial Performance Metrics
| Metric | 2023 Value |
|---|---|
| Total Revenue | $8.4 billion |
| Net Income | $654 million |
| Total Assets | $48.3 billion |
Business Segments
- General Insurance Group
- Title Insurance Group
- Mortgage Guaranty Insurance
Strategic Focus Areas
Risk Management is a critical component of ORI's mission, with emphasis on:
- Comprehensive underwriting practices
- Diversified insurance portfolio
- Robust financial risk assessment
Market Presence
Operates in all 50 U.S. states and multiple international markets.
| Market Segment | Market Share |
|---|---|
| Title Insurance | 9.2% |
| Mortgage Guaranty | 6.5% |
Corporate Governance
Publicly traded on New York Stock Exchange (NYSE: ORI) with ticker symbol ORI.
Shareholder Information
- Market Capitalization: $7.2 billion
- Dividend Yield: 4.3%
- Price to Earnings Ratio: 11.6
How Old Republic International Corporation (ORI) Works
Company Overview
Old Republic International Corporation (ORI) is a Chicago-based insurance holding company founded in 1923. As of 2024, the company operates with a market capitalization of approximately $7.8 billion.
Business Segments
ORI operates through three primary business segments:
- General Insurance Group
- Title Insurance Group
- Mortgage Guaranty Insurance Group
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $8.92 billion |
| Net Income | $641 million |
| Total Assets | $24.3 billion |
| Shareholders' Equity | $7.1 billion |
Insurance Operations
The company provides insurance services across multiple sectors:
- Commercial property and liability insurance
- Residential and commercial title insurance
- Mortgage insurance
- Workers' compensation insurance
Geographic Presence
ORI operates in all 50 U.S. states and maintains international insurance operations.
Stock Performance
| Stock Information | 2024 Data |
|---|---|
| NYSE Ticker Symbol | ORI |
| Current Stock Price | $24.37 |
| Dividend Yield | 4.2% |
| Price to Earnings Ratio | 10.5 |
Corporate Governance
As of 2024, the company is led by Craig R. Smiddy as President and CEO, with a board of 10 independent directors.
How Old Republic International Corporation (ORI) Makes Money
General Insurance Segment
Old Republic International Corporation generates revenue through three primary business segments with General Insurance being a significant contributor.
| Segment | 2022 Gross Premiums Written |
|---|---|
| General Insurance | $4.3 billion |
| Title Insurance | $2.1 billion |
| Life Insurance | $503 million |
Commercial Lines Insurance
Commercial lines insurance represents a core revenue stream for ORI, covering multiple business sectors.
- Transportation insurance
- Construction insurance
- Casualty insurance
- Property insurance
Financial Performance
| Financial Metric | 2022 Value |
|---|---|
| Total Revenue | $8.1 billion |
| Net Income | $684 million |
| Investment Income | $459 million |
Premium Revenue Breakdown
ORI generates premium revenues across various insurance product lines.
- Workers' compensation: $1.2 billion
- Commercial automobile: $675 million
- General liability: $892 million
- Commercial property: $543 million
Investment Strategy
Investment income contributes significantly to ORI's revenue generation.
| Investment Category | 2022 Investment Portfolio |
|---|---|
| Fixed Maturities | $17.3 billion |
| Equity Securities | $1.2 billion |
| Short-Term Investments | $386 million |
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