Old Republic targets combined ratios of 90% to 95% for Specialty Insurance over a full cycle
Company expects ECM acquisition to be accretive to earnings in 2026
Old Republic targets combined ratios of 90% to 95% for Title Insurance over a full cycle
Result drivers
Specialty insurance pressures - Modest net premiums earned growth was offset by a sharp decline in underwriting income due to higher loss and expense ratios; unfavorable development in run-off transactional risk was partly offset by favorable development in commercial auto and property
Title insurance growth - Double-digit increase in net premiums and fees earned and improved underwriting income, with expense ratios benefiting from lower litigation costs and scale, partly offset by higher agent commissions
Higher investment income - Net investment income rose due to a larger invested asset base
Analyst coverage and valuation
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "buy"
Wall Street's median 12-month price target for Old Republic International Corp is $40.00, about 3.8% below its July 22 closing price of $41.60
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