OLD REPUBLIC INTERNATIONAL CORPORATION (NYSE:ORI) Files An 8-K Other EventsItem 8.01.Other Events.
Old Republic International Corporation today announced that it will include pretax operating charges aggregating $150.0 million (or $97.5 million after tax and $0.33 per diluted share) in its consolidated financial statements for the three and nine months ended September 30, 2017. These charges stem from: (a) estimated General Insurance claim provisions ($20.0 million) associated with a current evaluation of exposures from hurricanes Harvey and Irma, and (b) additional claim and related expense provisions ($130.0 million) applicable to the final settlements and probable dispositions of all known litigated and other claim costs incurred by the Company's run-off Financial Indemnity business during the Great Recession years and their aftermath.
Any additional information related to these charges will be addressed as may be necessary in Old Republic's nine months' earnings announcement scheduled for October 26, 2017.
Item 9.01.Financial Statements and Exhibits.
99.1 News Release dated October 17, 2017.
OLD REPUBLIC INTERNATIONAL CORP ExhibitEX-99.1 2 exhibit99.htm EXHIBIT 99.1 Exhibit NEWS RELEASEFurther Information Contacts:AT OLD REPUBLIC: A. C. Zucaro: Chairman & CEO (312) 346-8100 OLD REPUBLIC ANNOUNCES THIRD QUARTER SPECIAL CHARGES CHICAGO – October 17,…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.