Gold prices steady as traders assess Fed rate outlook after soft US data
CHICAGO - Old Republic International Corporation (NYSE: ORI), a Fortune 500 specialty insurer with a market capitalization of $9.1 billion and an impressive 55-year streak of consecutive dividend payments, announced a key leadership change within its subsidiary BITCO Insurance Companies. Meyer Lehman, 50, will assume the role of President starting May 1, succeeding in a planned leadership succession. Vince Lamb, 62, will maintain his position as Chief Executive Officer. According to InvestingPro analysis, the company maintains a "GREAT" financial health score, suggesting strong operational fundamentals.
The announcement made today by Craig R. Smiddy, President and CEO of Old Republic International, emphasized that Lehman’s promotion is a result of deliberate succession planning. Since joining BITCO in 2023, Lehman has been instrumental in driving the company’s growth, profitability, and operational improvements, contributing to the company’s robust 10.8% revenue growth over the last twelve months. Smiddy expressed confidence in Lehman’s ability to continue leading BITCO with a clear vision for the future. For detailed insights into ORI’s performance metrics and growth potential, investors can access comprehensive analysis through InvestingPro’s exclusive research reports.
Lehman’s appointment is designed to ensure a smooth transition and maintain continuity in leadership. This strategic move aims to bolster BITCO’s delivery of specialized insurance solutions to its agents, brokers, and customers.
Old Republic International, established in 1923, is recognized for its diversified portfolio of property & casualty and title insurance products. The company is known for its expertise in underwriting and risk management services, catering to business partners throughout the United States and Canada. Its specialized operating companies are acknowledged as experts in their respective fields, which allows Old Republic to offer customized solutions that distinguish the company in the insurance market.
This leadership transition at BITCO underscores Old Republic International’s commitment to strategic planning and the sustained growth of its subsidiaries. The information is based on a press release statement from Old Republic International Corporation.
In other recent news, Old Republic International Corporation reported its first-quarter 2025 financial results, surpassing analysts’ expectations. The company recorded an earnings per share of $0.81, exceeding the forecasted $0.76, and achieved a revenue of $2.06 billion, which was above the anticipated $2.03 billion. This performance marks a 21% increase in earnings per share compared to the previous year, driven by the growth in its specialty insurance division. Additionally, Old Republic revealed a consolidated pretax operating income of $252.7 million, up from $231.5 million in the same quarter last year. The company also filed with the U.S. Securities and Exchange Commission to register the resale of approximately 2.83 million shares of its common stock by an identified stockholder. The shares are already issued and outstanding, so this action will not increase the number of shares on the market. Old Republic’s strategic initiatives, including technology integration and fraud prevention, are contributing to its ongoing growth. Looking ahead, the company expects continued growth in its specialty insurance segment and improvements in the title insurance market by summer.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.