Company DescriptionOld Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. The company operates through three segments: General Insurance, Title Insurance, and the Republic Financial Indemnity Group Run-off Business. The General Insurance segment offers automobile extended warranty, aviation, commercial automobile, commercial multi-peril, commercial property, general liability, home warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, guaranteed asset protection, and surety. This segment provides its insurance products to businesses, government, and other institutions in transportation, commercial construction, healthcare, education, retail and wholesale trade, forest products, energy, general manufacturing, and financial services industries. The Title Insurance segment offers lenders' and owners' title insurance policies to real estate purchasers and investors based upon searches of the public records. This segment also provides escrow closing and construction disbursement services; and real estate information products, national default management services, and various other services pertaining to real estate transfers and loan transactions. The Republic Financial Indemnity Group Run-off Business segment offers private mortgage insurance coverage that protects mortgage lenders and investors from default related losses on residential mortgage loans made primarily to homebuyers. The company was founded in 1923 and is based in Chicago, Illinois.
How the Company Makes MoneyOld Republic International (ORI) generates revenue primarily through the underwriting and sale of insurance policies across its two main business segments: General Insurance and Title Insurance. In the General Insurance Group, ORI offers various types of insurance products, including property, liability, and workers' compensation insurance, earning premiums from policyholders. The Title Insurance Group contributes to revenue by providing title insurance policies, which protect real estate owners and lenders from financial losses related to defects in the title of a property. Additionally, ORI earns investment income from its portfolio of invested assets, which includes bonds and equities, that supports its insurance operations. The company's financial performance is bolstered by its strategic partnerships with independent agents and brokers, who help distribute its insurance products to a broad client base.