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Sep 30, 2021
Old Republic Q3 2021 Earnings Report
Old Republic's Q3 2021 results reflected strong growth in profitability, particularly in the General Insurance and Title Insurance businesses, with improved underwriting results and increased net premiums and fees earned.
Key Takeaways
Old Republic International Corporation reported strong growth in profitability for Q3 2021, driven by solid underwriting results in the General Insurance and Title Insurance businesses. Consolidated combined ratios improved, and net premiums and fees earned increased significantly. However, total and per share net income were impacted by fluctuations in the fair value of equity securities.
Consolidated pretax income, excluding investment gains/losses, showed strong growth in General Insurance and Title Insurance.
Consolidated combined ratio improved to 89.8% for the third quarter compared to 92.3% in the same period last year.
Net premiums and fees earned increased by 18.6% for the quarter.
Book value per share advanced to $20.96 as of September 30, 2021, from $20.75 at December 31, 2020.
Revenue by Segment
Forward Guidance
As the economy continues to emerge from the pandemic, premium and fee revenues in General Insurance could continue growing. As low interest rates and a favorable real estate market continue, Title Insurance premium and fee revenues could remain strong, although may be lower than recent periods.
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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