Quarterly ResultJul 23, 2026, 08:12 AM
Old Republic Q2 Net Income $322.3M; Net Operating Income $186.0M
AI Summary
Old Republic International Corporation announced its second quarter 2026 results, reporting a net income of $322.3 million, a significant increase from $204.4 million in the prior year, largely driven by investment gains. However, net operating income, which excludes investment gains, decreased by 11.1% to $186.0 million, resulting in diluted net operating income per share of $0.76, down from $0.83. Consolidated net premiums and fees earned grew by 5.2% to nearly $2.1 billion. The company also noted the closing of the Everett Cash Mutual Insurance Co. acquisition on July 1, 2026, which is expected to generate a gain of approximately $125 million and be accretive to earnings in 2026.
Key Highlights
- Q2 2026 Net income was $322.3 million, up from $204.4 million last year.
- Q2 2026 Net operating income was $186.0 million, down 11.1% from $209.2 million last year.
- Q2 2026 Net operating income per diluted share was $0.76, down 9.3% from $0.83 last year.
- Consolidated net premiums and fees earned reached nearly $2.1 billion, a 5.2% increase YoY.
- Book value per share was $25.33, reflecting a 7.2% increase since year-end 2025.
- Specialty Insurance segment underwriting income decreased 50.5% to $59.3 million.
- Title Insurance segment underwriting income increased significantly to $37.6 million.
- Total capital returned to shareholders in Q2 was $137.4 million, including $60.7 million in share repurchases.
Price Impact
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