Old Republic to acquire Everett Cash Mutual, terms not disclosed

Old Republic (ORI) International announced that it has entered into a definitive agreement, pending regulatory and policyholder approval, to acquire Everett Cash Mutual Insurance Co. and affiliated companies following its conversion to a stock company in a sponsored demutualization transaction. ECM is an insurer of small farmowners and select commercial agricultural operations. Headquartered in Everett, PA and operating in 48 states and the District of Columbia, ECM wrote $237M of direct written premium in 2024, ended the year with consolidated statutory policyholders’ surplus of $126M, and has a long-term track record of profitable growth. Following an expected closing in 2026, ORI expects this transaction to be accretive to book value per share and operating income per share.