Old Republic International Corporation reported net income of $279.5 million for the third quarter of 2025, compared to $338.9 million in the same period last year. Net income excluding investment gains and losses was $196.7 million, up from $182.7 million last year. Net operating income per diluted share was $0.78, compared to $0.71 in the prior year period. Consolidated net premiums and fees earned reached $2.1 billion, an increase of 8.1% over last year. Net investment income was $182.6 million, up 6.7% from the previous year. The consolidated combined ratio was 95.3%, compared to 95.0% last year. Favorable loss reserve development contributed 2.5 points, up from 1.3 points last year. Shareholders' equity totaled $6.42 billion as of September 30, 2025, compared to $5.62 billion at December 31, 2024, representing a change of 14.3%. Book value per common share was $26.19, up from $22.84, a change of 14.7%. Total capital returned to shareholders during the quarter was $115 million, including $71 million in dividends and $44 million in share repurchases. For the first nine months, total capital returned was $281 million.