Old Republic International Corporation (NYSE: ORI) Q2 2025 Earnings | 07/25/2025

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Old Republic International Corporation reported another solid quarter for Q2 2025, delivering both net income and revenue figures well ahead of last year and exceeding analyst expectations. Net income surged to $204.4 million, up strongly from $91.8 million in Q2 2024, while net operating income grew 3.3% to $209.2 million. Earnings per diluted share reached $0.83, marking a 9% year-over-year increase and topping consensus estimates. Total consolidated operating revenues grew 10.1% to $2.22 billion, with GAAP revenue at $2.21 billion. The company’s combined ratio held steady at 93.6%, underscoring disciplined underwriting and expense control. The key driver of performance was robust growth in the Specialty Insurance segment, where net premiums written expanded 9% and pretax operating income rose to $253.7 million, fueled by strong renewal retention, rate gains, and new business—especially in Excess & Surplus (E&S) lines. The Specialty Insurance division posted an improved combined ratio of 90.7%, compared to 92.4% last year, marking sustained profitability. Title Insurance results reflected industry headwinds from a sluggish real estate and mortgage market, but the segment still delivered 5.2% growth in premiums and fees. However, title segment pretax operating income declined to $24.2 million from $46 million, and the combined ratio rose to 99% as higher expenses and reduced favorable loss reserve development weighed on margins. Old Republic’s balance sheet remains strong, with book value per share rising to $25.14—up 12.6% since year-end 2024—reflecting the impact of robust operating earnings and improved investment valuations. Net investment income climbed modestly to $171.5 million on higher yields despite a slightly lower asset base. The company returned $71.8 million to shareholders through dividends in the quarter. Management reaffirmed confidence in the sustainable growth of its Specialty Insurance business and continued investment in AI-driven technology, while exercising caution in navigating ongoing real estate and economic uncertainties. Looking ahead, Old Republic remains committed to margin discipline and profitable growth, targeting a combined ratio of 90–95% in its Specialty Insurance segment over a full underwriting cycle. About Inside Ticker: For more expert analysis and real-time updates on Old Republic International Corporation (NYSE: ORI) and other market movers, follow Inside Ticker and visit http://www.insideticker.com/ for in-depth reports, financial insights, and the latest news on leading companies. #OldRepublic #ORI #Q22025 #Earnings #FinancialResults #SpecialtyInsurance #TitleInsurance #RevenueGrowth #NetIncome #CombinedRatio #BookValue #Dividend #Insurance #StockMarket #InsideTicker #Underwriting #ShareholderReturns #Guidance #Profitability #OperationalExcellence #2025Outlook #InvestmentIncome #MarginDiscipline #ExcessAndSurplus #AI #InsuranceTech