Overview

• Old Republic Q3 net income falls, but net operating income rises 7.7% yr/yr

• Net premiums and fees earned increase 8.1% yr/yr

• Company returns $115 mln to shareholders via dividends and buybacks

Outlook

• Old Republic did not provide specific future financial guidance

Result Drivers

• PREMIUM GROWTH - Specialty insurance premiums rose due to rate increases, high renewal retention, and new business production

• INVESTMENT INCOME - Net investment income increased by 6.7%, driven by higher yields and a larger asset base

• LOSS RESERVE DEVELOPMENT - Favorable loss reserve development contributed positively, particularly in workers compensation

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the property & casualty insurance peer group is "buy"

• Wall Street's median 12-month price target for Old Republic International Corp is $47.00, about 10.7% above its October 21 closing price of $41.97

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release: ID:nPn501yfHa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)