Fri, May 22, 10:05 AM
Thu, Apr. 23, 11:36 AM
- Q1 pretax operating income of $134.8M or $0.32 per share vs. $105.7M and $0.25 one year ago.
- General Insurance Group pretax operating income of $82M about flat from a year ago. Net premiums earned of $703.3M up 7.1%. Net investment income of $73.7M up 11.8%. Benefits and claim costs of $518.8M up 8.7%. Composite ratio of 97.3% vs. 96.2%.
- Title Insurance Group pretax income of $15.9M up 233.5%. Net premiums earned of $428.3M up 8.7%. Net investment income of $7.9M up 12%. Composite ratio of 97.7% vs. 100.1%.
- RFIG Run-off Business pretax operating income of $40M up 8.7%. Net premiums earned of $52.6M down 10.5%. Claim costs of $13.5M down 40.8%. Composite ratio of 35.6% vs. 51.2%.
- Conference call at 3 ET
- Previously: Old Republic beats by $0.08, misses on revenue (April 23)
- ORI +1%
Thu, Apr. 23, 9:09 AM
Mon, Apr. 20, 8:31 AM
- Mortgage insurers fell post-market on Friday after the FHFA issued the final version of the Private Mortgage Insurer Eligibility Requirements that disappointed by not giving credit for any future premium income, says BTIG's Mark Palmer.
- Alongside that was the FHFA's announcement that g-fees would be kept at current levels vs. a hoped-for reduction.
- Nevertheless, with the uncertainly cloud removed, the stock's are higher in premarket action.
- MGIC Investment (NYSE:MTG) +1.9%, Radan (NYSE:RDN) +2.2%. Also taking note of the news: Genworth (NYSE:GNW), Essent Group (NYSE:ESNT), Old Republic (NYSE:ORI), and NMI Holdings (NASDAQ:NMIH)
Fri, Feb. 20, 10:25 AM
Thu, Jan. 22, 9:04 AM
Wed, Jan. 21, 5:30 PM
Nov. 21, 2014, 10:54 AM| Comment!
Oct. 23, 2014, 11:24 AM
- Net income of $85.8M or $0.30 per share vs. $102.9M and $0.36 one year ago. Investment gains of $21.5M or $0.05 per share vs. $4.8M and $0.01.
- General insurance revenue of $803.2M vs. $729M a year ago,
- Title insurance revenue of $478.7M vs. $544.5M amid a big drop in refinancing activity.
- Corporate and other revenue of $16M vs. $14.9M.
- Conference call at 3 ET
- Previously: Old Republic misses by $0.02, beats on revenue
- ORI +0.15%
Oct. 23, 2014, 9:04 AM
Sep. 23, 2014, 4:07 PM| 3 Comments
Aug. 21, 2014, 1:37 PM| Comment!
Jul. 24, 2014, 12:08 PM
- At issue for the bottom-line miss for Old Republic (ORI -3.5%) were "significantly higher case settlement and protracted litigation costs in the consumer credit indemnity portion of the run-off business." Indeed: RFIG pre-tax operating loss of $34.2M compares to a profit of $55.4M one year ago.
- In other segments, General Insurance pre-tax profit of 59.7M vs. $63.1M a year ago. Title Insurance pre-tax profit of $26M vs. $40.4M.
- June 30 book value per share of $15.29 vs. $13.95 a year ago.
- The earnings call begins at 3 ET.
- Previously: Old Republic misses by $0.02, misses on revenue
Jul. 24, 2014, 9:02 AM
Jul. 11, 2014, 8:38 AM
- An update on the mortgage insurers as a premarket slump in their stock prices has turned into a rout in the wake of proposed new rules from the FHFA which would force sizable capital raises. MGIC Investment (MTG) -15%, Radian (RDN) -7.2%, Genworth (GNW) -4.8%. Also worth keeping an eye on is Old Republic (ORI).
- Goldman chimes in, removing MGIC from its Conviction Buy list.
- There's no action in newer mortgage insurers National MI (NMIH) and Essent Group (ESNT), but neither are burdened by any legacy issues and both welcome the new rules, with Essent saying it's already in compliance.
- NMIH response
- Previously: Radian is not pleased
- Previously: Genworth will need to raise about $500M
May 8, 2014, 3:17 PM| Comment!
ORI vs. ETF Alternatives
Old Republic International Corporation is engaged in insurance underwriting and related services. It conducts its operations through General Insurance, Title Insurance, and the Republic Financial Indemnity and consumer credit indemnity Run-off Business.
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