OLD REPUBLIC INTERNATIONAL CORP (ORI) financial statements: income statement, balance sheet and cash flow
OLD REPUBLIC INTERNATIONAL CORP's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), OLD REPUBLIC INTERNATIONAL CORP reported revenue of $9.1B (+11.0% year on year) and net income of $935.4M (+9.7% year on year).
Income statement
OLD REPUBLIC INTERNATIONAL CORP income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net premiums earned
$7.8B
$7.0B
$6.4B
$7.3B
Title, escrow, and other fees
$264.1M
$284.4M
$261.8M
$333.2M
Total premiums and fees
$8.1B
$7.3B
$6.7B
$7.7B
Net investment income
$708.7M
$673.1M
$578.3M
$459.5M
Other income
$194.9M
$177.6M
$163.1M
$149.9M
Total operating revenues
$9.0B
$8.2B
$7.4B
$8.3B
Consolidated net realized investment gains (losses)
$202.0M
$88.8M
($67.0M)
$62.2M
Unrealized from changes in fair value of equity securities
($22.3M)
($18.9M)
($123.9M)
($263.4M)
Total net investment gains (losses)
$179.7M
$69.9M
($190.9M)
($201.1M)
Total revenues
$9.1B
$8.2B
$7.3B
$8.1B
Loss and loss adjustment expenses
$3.4B
$3.0B
$2.6B
$2.4B
Dividends to policyholders
$16.2M
$23.5M
$16.5M
$12.5M
Underwriting, acquisition, and other expenses
$4.5B
$4.0B
$3.8B
$4.7B
Interest and other charges
$70.3M
$77.3M
$70.5M
$66.7M
Total expenses
$8.0B
$7.2B
$6.5B
$7.2B
Income before income taxes
$1.2B
$1.1B
$747.4M
$857.4M
Current
$225.2M
$205.2M
$186.2M
$226.0M
Deferred
$16.8M
$11.7M
($37.4M)
($55.1M)
Total income taxes
$242.1M
$216.9M
$148.7M
$170.9M
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
$941.9M
—
—
—
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
$6.5M
—
—
—
Net income to shareholders
$935.4M
$852.7M
$598.6M
$686.4M
Net income per share: basic (in dollars per share)
$3.82
$3.30
$2.12
$2.28
Net income per share: diluted (in dollars per share)
$3.72
$3.24
$2.10
$2.26
Weighted average number of shares outstanding, basic
245.1M
258.0M
282.7M
301.7M
Weighted Average Number of Shares Outstanding, Diluted
251.3M
262.9M
285.5M
303.3M
OLD REPUBLIC INTERNATIONAL CORP income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Net premiums earned
$2.0B
$1.9B
$2.0B
$1.9B
Title, escrow, and other fees
$73.3M
$58.9M
$67.5M
$67.9M
Total premiums and fees
$2.1B
$2.0B
$2.1B
$2.0B
Net investment income
$182.0M
$178.0M
$182.6M
$171.5M
Other income
$51.4M
$47.3M
$50.7M
$49.6M
Total operating revenues
$2.3B
$2.2B
$2.3B
$2.2B
Realized from actual transactions and impairments
$38.1M
$85.3M
($6.0M)
($2.4M)
Equity Securities, FV-NI, Unrealized Gain (Loss)
$134.2M
$116.4M
$110.7M
($4.9M)
Total realized and unrealized investment gains (losses)
$172.4M
$201.8M
$104.7M
($7.3M)
Total revenues
$2.5B
$2.4B
$2.4B
$2.2B
Loss and loss adjustment expenses
$892.4M
$835.5M
$852.3M
$826.5M
Dividends to policyholders
$4.3M
$4.6M
$4.5M
$4.1M
Underwriting, acquisition, and other expenses
$1.2B
$1.1B
$1.2B
$1.1B
Interest and other charges
$26.5M
$17.7M
$17.3M
$17.6M
Total expenses
$2.1B
$2.0B
$2.1B
$1.9B
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest
$410.2M
$413.4M
$352.9M
$260.1M
Current
$24.4M
$62.7M
$54.1M
$55.1M
Deferred
$61.3M
$21.1M
$18.6M
($3.4M)
Total income taxes
$85.7M
$83.8M
$72.8M
$51.7M
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
$324.4M
$329.5M
$280.1M
$208.4M
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Noncontrolling Interest
$2.0M
($500.0K)
$500.0K
$3.9M
Total net income
$322.3M
$330.0M
$279.5M
$204.4M
Net income (loss) per share: Basic (in dollars per share)
$1.34
$1.36
$1.14
$0.83
Net income (loss) per share: Diluted (in dollars per share)
$1.31
$1.32
$1.11
$0.81
Average shares outstanding: Basic (in shares)
239.8M
242.9M
245.3M
244.8M
Weighted Average Number of Shares Outstanding, Diluted, Total
246.3M
249.4M
251.3M
251.1M
Balance sheet
OLD REPUBLIC INTERNATIONAL CORP balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Fixed income securities (at fair value) (amortized cost: $12,478.8 and $12,175.9)
$12.7B
$12.1B
$12.1B
$11.7B
Equity securities (at fair value) (cost: $1,377.7 and $1,410.7)
$2.5B
$2.5B
$2.7B
$3.2B
Short-term investments (at fair value which approximates cost)
$1.6B
$1.4B
$1.0B
$860.8M
Other investments
$27.7M
$42.8M
$34.3M
$31.2M
Total investments
$16.8B
$16.1B
$15.9B
$15.9B
Cash
$263.2M
$201.9M
$202.8M
$81.0M
Accrued investment income
$141.1M
$127.9M
$117.0M
$106.7M
Accounts and notes receivable
$2.8B
$2.5B
$2.2B
$1.9B
Reinsurance balances and funds held
$404.5M
$423.1M
$544.7M
$323.0M
Reinsurance recoverable: Paid losses
$209.9M
$185.3M
$175.4M
$119.4M
Reinsurance recoverable for loss and loss adjustment expense reserves
$6.4B
$5.8B
$5.0B
—
Unearned premium and policy reserves
$1.1B
$921.6M
$798.2M
—
Deferred policy acquisition costs
$636.2M
$531.3M
$417.8M
$382.5M
Other assets
$1.1B
$1.1B
$981.5M
$874.8M
Total assets
$29.9B
$27.8B
$26.5B
$25.2B
Loss and loss adjustment expense reserves
$14.8B
$13.7B
$12.5B
$12.2B
Unearned premiums
$4.0B
$3.5B
$3.0B
$2.8B
Other policyholders' benefits and funds held
$177.8M
$174.0M
$150.3M
$191.0M
Total policy liabilities
$18.9B
$17.4B
$15.7B
$15.2B
Commissions, expenses, fees, and taxes
$601.8M
$547.5M
$533.8M
$514.8M
Reinsurance balances and funds held
$1.4B
$1.4B
$1.4B
$1.1B
Deferred Tax Liabilities, Net
$219.3M
$129.1M
$105.6M
$40.9M
Debt
$1.6B
$1.6B
$1.6B
$1.6B
Other liabilities
$1.2B
$1.1B
$690.6M
$560.5M
Total liabilities
$23.9B
$22.2B
$20.1B
$19.0B
Preferred Stock
$0
$0
$0
$0
Common stock
$246.3M
$248.8M
$278.3M
$296.9M
Additional paid-in capital
$23.3M
$0
$678.7M
$1.1B
Retained earnings
$5.5B
$5.5B
$5.6B
$5.3B
Accumulated other comprehensive income (loss)
$163.1M
($102.4M)
($132.4M)
($522.7M)
Unallocated 401(k) plan shares (at cost)
-34.1M
-47.1M
-58.2M
-69.5M
Treasury Stock, Value
$0
—
—
—
Total shareholders' equity
$5.9B
$5.6B
$6.4B
$6.2B
Equity, Attributable to Noncontrolling Interest
$14.4M
—
—
—
Equity, Including Portion Attributable to Noncontrolling Interest
$5.9B
—
—
—
Total liabilities and equity
$29.9B
$27.8B
$26.5B
$25.2B
OLD REPUBLIC INTERNATIONAL CORP balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Fixed income securities (at fair value) (amortized cost: $12,116.5 and $12,478.8)
$12.2B
$12.8B
$12.6B
$12.4B
Equity securities (at fair value) (cost: $1,318.2 and $1,377.7)
$2.7B
$2.5B
$2.7B
$2.6B
Short-term investments (at fair value which approximates cost)
$2.2B
$1.0B
$1.5B
$1.2B
Other investments
$17.8M
$18.2M
$27.8M
$28.9M
Total investments
$17.1B
$16.4B
$16.8B
$16.2B
Cash
$417.7M
$202.1M
$242.5M
$178.1M
Accrued investment income
$142.5M
$129.9M
$126.4M
$132.0M
Accounts and notes receivable
$3.1B
$2.8B
$3.0B
$3.0B
Reinsurance balances and funds held
$385.7M
$403.0M
$388.2M
$388.8M
Reinsurance recoverable: Paid loss and loss adjustment expenses
$175.1M
$224.6M
$208.4M
$191.6M
Reinsurance recoverable for loss and loss adjustment expense reserves
$6.8B
$6.5B
$6.6B
$6.2B
Unearned premium and policy reserves
$1.5B
$1.2B
$1.3B
$1.3B
Deferred policy acquisition costs
$814.8M
$659.1M
$611.6M
$588.5M
Other assets
$1.2B
$1.1B
$1.1B
$1.1B
Assets
$31.6B
$29.6B
$30.3B
$29.3B
Loss and loss adjustment expense reserves
$15.3B
$15.0B
$14.8B
$14.4B
Unearned premiums
$4.6B
$4.1B
$4.2B
$4.0B
Other policyholders' benefits and funds held
$183.5M
$176.6M
$181.6M
$178.8M
Total policy liabilities
$20.1B
$19.2B
$19.2B
$18.6B
Commissions, expenses, fees, and taxes
$544.4M
$553.2M
$552.3M
$499.6M
Reinsurance balances and funds held
$1.7B
$1.4B
$1.7B
$1.6B
Deferred Income Tax Liabilities, Net
$262.9M
$210.6M
$226.4M
$191.0M
Debt
$2.3B
$1.6B
$1.6B
$1.6B
Other liabilities
$653.9M
$644.6M
$589.3M
$580.2M
Total liabilities
$25.5B
$23.7B
$23.8B
$23.1B
Preferred Stock
$0
$0
$0
$0
Common stock
$241.4M
$242.8M
$247.4M
$248.4M
Additional paid-in capital
$0
$0
$23.3M
$32.1M
Retained earnings
$5.9B
$5.7B
$6.0B
$5.9B
Accumulated other comprehensive income
$8.5M
$47.5M
$151.5M
$91.7M
Unallocated 401(k) plan shares (at cost)
-27.6M
-30.8M
-37.3M
-40.6M
Treasury Stock (at cost)
$0
$0
$0
$0
Total equity
$6.1B
$5.9B
$6.4B
$6.2B
Equity, Attributable to Noncontrolling Interest
$15.0M
$13.4M
$16.3M
$17.9M
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest
$6.1B
$5.9B
$6.4B
$6.2B
Total liabilities and equity
$31.6B
$29.6B
$30.3B
$29.3B
Cash flow statement
OLD REPUBLIC INTERNATIONAL CORP cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
$941.9M
—
—
—
Deferred policy acquisition costs
($104.9M)
($113.4M)
($35.2M)
($32.0M)
Accounts and notes receivable
($278.6M)
($270.1M)
($274.4M)
($158.6M)
Loss and loss adjustment expense reserves
$438.1M
$354.9M
$93.4M
$221.5M
Unearned premiums and other policyholders' liabilities
$260.6M
$363.4M
$194.0M
$157.6M
Federal income taxes
$45.1M
$20.8M
($47.1M)
($54.7M)
Reinsurance balances and funds held
$12.6M
$140.6M
$23.8M
$147.2M
Realized Investment Gains (Losses)
($202.0M)
($88.8M)
$67.0M
($62.2M)
Unrealized from changes in fair value of equity securities
$22.3M
$18.9M
$123.9M
$263.4M
Other - net
$29.1M
($45.4M)
$136.3M
$1.9M
Total
$1.2B
$1.2B
$880.4M
$1.2B
Maturities and calls on fixed income securities
$1.6B
$1.6B
$1.4B
$1.4B
Fixed income securities
$863.1M
$2.4B
$1.4B
$1.4B
Equity securities
$510.2M
$327.1M
$691.5M
$2.2B
Other investments
$3.9M
$10.6M
$14.5M
$11.4M
Fixed income securities
($2.6B)
($4.0B)
($2.9B)
($5.0B)
Equity securities
($182.7M)
($24.3M)
($91.9M)
($58.0M)
Other investments
($119.8M)
($103.5M)
($106.4M)
($59.7M)
Proceeds from Divestiture of Interest in Consolidated Subsidiaries
$0
$136.6M
—
—
Net increase in short-term investments
($203.7M)
($390.5M)
($362.6M)
($295.7M)
Payments for (Proceeds from) Other Investing Activities
$2.3M
($1.2M)
$300.0K
($12.3M)
Total
($177.2M)
($3.9M)
$25.3M
($415.0M)
Proceeds from Issuance of Long-term Debt
$0
$395.9M
$0
$0
Issuance of common shares
3.8M
2.0M
31.1M
26.6M
Redemption of debentures and notes
$0
($400.0M)
($5.3M)
$0
Dividends on common shares
-782.6M
-271.9M
-275.5M
-579.7M
Treasury stock acquired
($123.8M)
($942.2M)
($535.3M)
($281.2M)
Other - net
($23.1M)
($10.7M)
$1.8M
$1.5M
Total
($925.7M)
($1.2B)
($783.2M)
($832.7M)
Increase in cash
$61.3M
$2.4M
$122.5M
($77.1M)
Net Cash Provided by (Used in) Discontinued Operations
$0
($3.3M)
($800.0K)
—
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period
$201.9M
$202.8M
$81.0M
$158.1M
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period
$263.2M
$201.9M
$202.8M
$81.0M
Cash paid during the period for: Interest
$69.3M
$77.3M
$66.0M
$65.8M
Income Taxes Paid, Federal & Foreign, Net
$198.7M
—
—
—
OLD REPUBLIC INTERNATIONAL CORP cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
$653.9M
$329.5M
$734.7M
$454.5M
Deferred policy acquisition costs
($178.5M)
($22.8M)
($80.2M)
($57.2M)
Accounts and notes receivable
($366.9M)
($10.0M)
($458.9M)
($470.4M)
Loss and loss adjustment expense reserves
$192.4M
$78.7M
$284.4M
$182.0M
Unearned premiums and other policyholders' liabilities
$220.4M
$28.5M
$287.3M
$123.9M
Federal income taxes
$7.9M
$82.6M
$16.6M
$16.3M
Reinsurance balances and funds held
$315.1M
($500.0K)
$307.0M
$256.4M
Realized from actual transactions and impairments
($123.5M)
($85.3M)
($28.9M)
($34.9M)
Increase (Decrease) in Debt Securities, Trading, and Equity Securities, FV-NI
($250.7M)
($116.4M)
($123.4M)
($12.7M)
Other – net
$10.9M
($2.7M)
($9.0M)
($92.5M)
Total
$481.1M
$281.4M
$929.4M
$365.5M
Maturities and calls of fixed income securities
$765.3M
$406.0M
$1.2B
$835.4M
Fixed income securities
$834.4M
$168.2M
$706.4M
$522.3M
Proceeds from Sale of Equity Securities, FV-NI
$266.9M
$191.6M
$182.1M
$167.5M
Other investments
$1.8M
$300.0K
$3.6M
$3.3M
Fixed income securities
($1.2B)
($772.8M)
($1.9B)
($1.3B)
Payments to Acquire Equity Securities, FV-NI
($68.5M)
($22.2M)
($109.0M)
($58.6M)
Other investments
($41.3M)
($23.9M)
($92.4M)
($68.8M)
Net increase in short-term investments
($619.1M)
$570.8M
($40.8M)
$198.7M
Other – net
$0
$0
$2.3M
$2.0M
Total
($18.9M)
$518.2M
($93.5M)
$287.6M
Proceeds from Issuance of Senior Long-term Debt
$693.4M
—
$0
$0
Issuance of common shares
3.0M
2.6M
3.2M
2.8M
Dividends on common shares
-770.4M
-693.8M
-711.8M
-640.9M
Payments for Repurchase of Common Stock
($220.0M)
($159.8M)
($68.6M)
($25.3M)
Repurchase of common stock
($13.7M)
($9.7M)
($17.9M)
($13.5M)
Total
($307.6M)
($860.8M)
($795.2M)
($676.9M)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect