Old Republic International Reports Lower Q2 Earnings Amid Weaker Specialty Insurance Performance
Old Republic International (NYSE:ORI) reported lower second-quarter operating earnings in 2026, driven by weaker results from its specialty insurance segment. Consolidated pre-tax operating income fell to $238 million from $268 million a year ago, with the combined ratio worsening to 95.3%. The decline was primarily due to reserve strengthening of $40 million in the runoff transactional risk business and higher expenses related to technology investments. In contrast, Old Republic's title insurance segment showed stronger performance, with premium and fee revenue rising by 11% year-over-year and pre-tax operating income increasing from $24 million to $56 million. Commercial auto results improved slightly in terms of loss ratios, but workers' compensation premiums declined. Management expressed optimism for the second half of the year despite these challenges. The company also reported a rise in net investment income and continued share repurchases as part of its capital return strategy.
Tickers: $ORI
Topics: financial performance insurance specialty insurance title insurance