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CHICAGO - On Thursday, Old Republic International Corporation (NYSE:ORI) reported second quarter 2025 earnings that met analyst expectations while revenue exceeded forecasts, as the specialty insurer benefited from strong premium growth and improved underwriting results.
The company reported earnings per diluted share of $0.81, matching the analyst consensus estimate. Revenue came in at $2.21 billion, surpassing the consensus forecast of $2.18 billion. Consolidated net premiums and fees earned increased 11.0% to nearly $2 billion compared to the same period last year.
Old Republic’s net income for the quarter reached $204.4 million, significantly higher than the $91.8 million reported in the second quarter of 2024. Net operating income, which excludes investment gains and losses, increased 3.3% to $209.2 million, with operating income per diluted share rising 9.2% to $0.83 compared to $0.76 last year.
The company maintained a solid consolidated combined ratio of 93.6%, virtually unchanged from 93.5% in the prior-year period. The Specialty Insurance segment, which drove much of the company’s growth, posted a 14.6% increase in net premiums earned and improved its combined ratio to 90.7% from 92.4% a year earlier.
The Title Insurance segment saw more modest growth with net premiums and fees earned increasing 5.2%, though its pretax operating income declined 47.2% to $24.2 million due to higher loss ratios and expenses.
Old Republic returned $71.8 million to shareholders through dividends during the quarter. Book value per share increased to $25.14, up 12.6% since year-end 2024 when including cash dividends declared.
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