Old Republic International Corporation announced the issuance of a Special Report that addresses important Enterprise Risk Management principles and practices pertaining to:
- Insurance Underwriting Risk,
- Capital Management, and
- Corporate Governance Policies and Practices.
The Report reflects our Board of Directors’ business judgement position relative to these matters. It is provided in the context of its review of certain suggestions made by a relatively new hedge fund shareholder. The Report’s issuance underscores our commitment to transparent and open disclosure to all shareholders. The Report may also be viewed on ORI’s website at the address below.
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Chicago-based Old Republic International Corporation is one of the nation’s 50 largest shareholder-owned insurance businesses. It is a member of the Fortune 500 listing of America’s largest companies. The Company is organized as an insurance holding company whose subsidiaries actively market, underwrite, and provide risk management services for a wide variety of coverages mostly in the general and title insurance fields. A long-term interest in mortgage guaranty and consumer credit indemnity coverages has devolved to a run-off operating mode in recent years. Old Republic’s general insurance business ranks among the nation’s 50 largest, while its title insurance operations are the third largest in its industry.
The nature of Old Republic’s business requires that it be managed for the long run. Its consistent and reliable cash dividend policy reflects this long-term orientation. The current annualized dividend rate of $0.88 per share marks the 40th consecutive year that Old Republic has boosted this rate, and 2021 becomes the 80th year of uninterrupted regular cash dividend payments. Here’s a summary of recent years’ total book and market returns, which includes the addition and reinvestment of cash dividend payments, in comparison with the financial performance of three selected indices similarly developed.
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