Old Republic International Reports Significant Financial Growth in Q2 and First Half of 2026

Old Republic International Corporation reported a significant increase in financial performance for the second quarter and first half of 2026, with net income reaching $322.3 million, up from $204.4 million in the same period last year. For the first six months, net income attributable to shareholders was $652.4 million, compared to $449.5 million in 2025. The company’s total operating revenues for the quarter were $2.33 billion, a 5.2% increase from $2.22 billion in the prior year, driven by higher net premiums earned and increased investment income.

The company experienced notable growth in its Specialty Insurance and Title Insurance segments. Net premiums earned in Specialty Insurance rose to $1.32 billion, a 2.3% increase year-over-year, while Title Insurance saw a more substantial growth of 11.0%, reaching $699.3 million. The overall combined ratio for the company was 95.3%, slightly higher than the previous year's 93.6%, indicating a slight increase in underwriting expenses relative to premiums earned. The increase in expenses was attributed to ongoing investments in technology and new operating companies, which are not yet at scale.

Strategically, Old Republic completed the acquisition of Everett Cash Mutual Insurance Co. on July 1, 2026, which is expected to enhance its Specialty Insurance segment. This acquisition follows a trend of expanding operational capabilities and diversifying offerings within the insurance market. The company also reported a significant increase in its investment portfolio, which totaled $17.09 billion as of June 30, 2026, reflecting a 1.5% increase from the end of 2025. The investment strategy remains focused on high-quality, marketable securities, with approximately 84% allocated to fixed income securities.

Operationally, Old Republic's total assets increased by 5.8% to $31.59 billion, while total liabilities rose to $25.50 billion, primarily due to the issuance of new debt. The company’s debt-to-equity ratio increased to 37.6% from 26.9% at the end of 2025, reflecting the recent debt issuance. The company returned a total of $137.4 million to shareholders in the second quarter through dividends and share repurchases, continuing its long-standing practice of returning capital to investors.

Looking ahead, Old Republic anticipates continued growth driven by its strategic initiatives and market conditions. The company remains focused on maintaining a strong balance sheet and achieving favorable underwriting results over the long term, despite the challenges posed by competitive pressures and economic fluctuations. Management emphasizes the importance of long-term performance metrics over short-term results, aiming to navigate through economic cycles effectively.