OLD REPUBLIC INTERNATIONAL CORPORATION (NYSE:ORI) Files An 8-K Other EventsItem 8.01.Other Events.
Old Republic International Corporation (the “Company”) today announced that it will report net realized investment gains of approximately $150 million in this year’s final quarter. Expense-wise, it reported it will record pre-tax charges of approximately $45 million in the final quarter of the year. Additional information related to these net investment gains and this expense charge are included in the attached press release.
In another recent development, the Company reported that the North Carolina Department of Insurance issued a final order terminating its supervision of the Company’s mortgage guaranty insurance subsidiaries chartered in that state.
Finally, the Company announced that its Board of Directors declared a special one-time cash dividend of $1.00 per Common share. This special dividend will be paid on January 31, 2018 to Common stock shareholders of record on January 10, 2018.
Additional information related to these events are contained in the attached Press Release.
Item 9.01.Financial Statements and Exhibits.
99.1 News Release, December 21, 2017.
OLD REPUBLIC INTERNATIONAL CORP ExhibitEX-99.1 2 pressreleasedateddecember2.htm EXHIBIT 99.1 Exhibit NEWS RELEASEFurther Information Contacts:AT OLD REPUBLIC:AT FINANCIAL RELATIONS BOARD:A. C. Zucaro: Chairman & CEOAnalysts/Investors: Marilynn Meek(312) 346-8100(212) 827-3773 OLD REPUBLIC REPORTS ON NOTABLE FINANCIAL MATTERS AND EVENTS FOR THE FINAL QUARTER OF 2017.COMPANY DECLARES SPECIAL,…To view the full exhibit click
About OLD REPUBLIC INTERNATIONAL CORPORATION (NYSE:ORI)
Old Republic International Corporation is a holding company. The Company is engaged in business of insurance underwriting and related services. The Company conducts its operations through various regulated insurance company subsidiaries, which are organized into three segments: General Insurance Group, Title Insurance Group and the Republic Financial Indemnity Group (RFIG) Run-off Business. The Company’s General Insurance segment consists of property and liability insurance, and offers coverages to businesses, government and other institutions. The Company’s Title Insurance Group’s business consists of the issuance of policies to real estate purchasers and investors based upon searches of the public records, which contain information concerning interests in real property. The Company’s RFIG run-off business consists of its mortgage guaranty and consumer credit indemnity (CCI) operations.