Old Republic International reported second-quarter 2026 results with net income attributable to shareholders of $322.3 million and net income excluding investment gains (net operating income) of $186.0 million. Consolidated net premiums and fees earned were nearly $2.10 billion and net investment income was $182.0 million. The company returned $137.4 million of capital to shareholders and reported book value per share of $25.33 as of June 30, 2026.

Financial Highlights

  • Net income attributable to shareholders: $322.3 million for Q2 2026 (six months: $652.4 million).
  • Net income excluding investment gains (net operating income): $186.0 million for Q2 2026 (six months: $356.6 million).
  • Consolidated net premiums and fees earned: $2,097.8 million for Q2 2026 (six months: $4,070.0 million).
  • Net investment income: $182.0 million for Q2 2026 (six months: $360.1 million).
  • Book value per share (inclusive of dividends declared): $25.33 at June 30, 2026; dividends declared per common share: $0.315 for the quarter.

Business Highlights

  • Segment performance: Specialty Insurance generated net premiums earned of $1,323.8 million and Title Insurance earned $772.6 million in Q2 2026.
  • Underwriting: Consolidated combined ratio was 95.3% for Q2 2026; Specialty Insurance combined ratio was 95.5% and Title Insurance combined ratio was 95.1% for the quarter.
  • Specialty Insurance growth driven by commercial auto, accident & health, general liability, property and auto warranty lines; a large auto warranty program increased net premiums written.
  • Title Insurance saw solid agency and direct channel growth with commercial premiums comprising 25.4% of net premiums earned in Q2 2026, up from 23.0% a year earlier.
  • Acquisition closed July 1, 2026: Everett Cash Mutual Insurance Co. (ECM) to be included in Specialty Insurance from Q3 2026; Specialty expects an acquisition gain of approximately $125 million (subject to final valuation) and anticipates the business will be accretive in 2026.

Original SEC Filing:

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