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Dec 31, 2020
Old Republic Q4 2020 Earnings Report
Old Republic reported results for the fourth quarter and full year 2020, with growth in net income driven by the General and Title Insurance segments.
Key Takeaways
Old Republic International Corporation reported strong growth in the fourth quarter and full year net income, excluding investment gains and losses, driven by greater profitability in both the General and Title Insurance segments. The consolidated combined ratio improved to 90.3% for the fourth quarter and 93.3% for the full year. Net income was significantly impacted by changes in the fair value of equity securities.
Net income, excluding investment gains, increased by 56.0% for the quarter.
The General Insurance segment experienced a slight reduction in earned premiums due to the COVID-19 pandemic.
The Title Insurance segment experienced strong growth in premium and fee revenues.
The consolidated combined ratio improved to 90.3% for the fourth quarter.
Revenue by Segment
Forward Guidance
The economic impacts from the COVID-19 pandemic could affect future premium and fee revenues in the General Insurance and Title Insurance segments, and conversely underwriting expense ratios could rise.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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