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Mar 31, 2023
Old Republic Q1 2023 Earnings Report
Reported pretax income, excluding investment gains (losses), General Insurance pretax operating income rose, while Title Insurance results were negatively impacted and solid General Insurance underwriting results led to a consolidated combined ratio.
Key Takeaways
Old Republic reported pretax income, excluding investment gains (losses), of $222.9 million for the quarter. General Insurance pretax operating income rose 35.6%, while Title Insurance results were negatively impacted by the effect of elevated mortgage interest rates. Solid General Insurance underwriting results led to a consolidated combined ratio of 92.7%.
Pretax income, excluding investment gains (losses), was $222.9 million for the quarter.
General Insurance pretax operating income increased by 35.6%.
Title Insurance results were negatively impacted by elevated mortgage interest rates.
Consolidated combined ratio was 92.7% due to solid General Insurance underwriting results.
Revenue by Segment
Forward Guidance
The insurance business is distinguished from most others in that the prices (premiums) charged for most products are set without knowing what the ultimate loss costs will be. We also can't know exactly when claims will be paid, which may be many years after a policy was issued or expired. This casts Old Republic as a risk-taking enterprise managed for the long run. Old Republic therefore conducts the business with a primary focus on achieving favorable underwriting results over cycles, and on maintaining a sound financial condition to support our subsidiaries' long-term obligations to policyholders and their beneficiaries.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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