NYSE$ORI
Old Republic International Corp · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Old Republic reported record pretax income, excluding investment gains, for the fourth quarter and full year 2021.
Old Republic International Corporation reported a strong fourth quarter with record pretax income, excluding investment gains, driven by solid underwriting results in both General Insurance and Title Insurance. Consolidated combined ratios improved, and net premiums and fees earned saw significant growth.
- Pretax income, excluding investment gains, increased by 20.7% for the quarter.
- Consolidated combined ratio improved to 88.5% for the quarter.
- Net premiums and fees earned grew by 11.3% for the quarter.
- Book value per share advanced to $22.76 as of December 31, 2021.
Headline financials
Revenue & EPS history
Old Republic · Revenue · Quarterly
$2.27B
Revenue by segment
Old Republic · $2.11B total across 2 segments · Q4 2021
- Title Insurance$1.19B+14.9%56.1%
- Specialty Insurance$926M+7.5%43.9%
Forward guidance
Old Republic's management focuses on achieving favorable underwriting results over cycles and maintaining financial soundness to support long-term obligations to policyholders.
Tailwinds
- Achieving highly profitable operating results over the long term.
- Ensuring balance sheet strength for the primary needs of the insurance subsidiaries' underwriting and related services business.
- Favorable underwriting results over cycles.
- Maintenance of financial soundness.
- Focus on long-term performance trends.
Headwinds
- Uncertainty of ultimate benefit and claim costs.
- Short reporting time frames do not comport well with the long-term nature of much of its business.
- Market competition affecting General Insurance segment.
- Changes in national and regional housing demand and values affecting Title Insurance and RFIG Run-off results.
- Exposure to cyber risk.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2021
-0.4%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+2.5%
Avg return
30 days after
51%
35 / 68 earnings
Positive
+9.2%
Q3 2018
Best reaction
-10.1%
Q3 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.2% | -4.5% | -6.4% | |
| Q4 2025 | -9.3% | -10.3% | -4.4% | |
| Q3 2025 | -3.0% | -6.3% | +9.1% | |
| Q2 2025 | -2.5% | -0.8% | +9.0% | |
| Q1 2025 | +1.2% | -0.6% | -1.4% | |
| Q4 2024 | +1.3% | +2.6% | +2.1% | |
| Q3 2024 | -3.9% | -1.8% | +7.9% | |
| Q1 2024 | -0.6% | -1.5% | +4.0% | |
| Q4 2023 | -7.9% | -7.0% | -5.4% | |
| Q3 2023 | +0.4% | +2.0% | +7.9% | |
| Q2 2023 | +1.5% | +1.8% | +0.3% | |
| Q1 2023 | +2.6% | +3.5% | +0.6% | |
| Q4 2022 | +5.1% | +6.8% | +6.8% | |
| Q3 2022 | +2.2% | +1.5% | +6.5% | |
| Q2 2022 | +2.0% | +0.1% | +5.3% | |
| Q1 2022 | -7.8% | -5.6% | -0.8% | |
| Q4 2021 | +2.7% | +4.6% | +6.2% | |
| Q3 2021 | +7.8% | +8.3% | +4.9% | |
| Q2 2021 | -0.2% | +0.4% | +7.7% | |
| Q1 2021 | +1.1% | +2.7% | +10.0% | |
| Q4 2020 | +0.7% | +5.1% | +7.5% | |
| Q3 2020 | +6.4% | +0.3% | +14.4% | |
| Q2 2020 | -4.9% | -6.3% | -7.8% | |
| Q1 2020 | -0.9% | +5.6% | -2.1% | |
| Q4 2019 | +1.9% | +0.6% | +1.2% | |
| Q3 2019 | -5.3% | -6.1% | -6.7% | |
| Q2 2019 | -2.1% | -1.8% | -2.7% | |
| Q1 2019 | +4.2% | +5.5% | +6.4% | |
| Q4 2018 | -7.8% | -7.9% | -2.8% | |
| Q3 2018 | +9.2% | +10.8% | +8.2% | |
| Q2 2018 | +2.4% | +4.3% | +9.2% | |
| Q1 2018 | -3.3% | -3.6% | +0.0% | |
| Q4 2017 | +7.4% | +7.8% | -0.7% | |
| Q3 2017 | +0.4% | +4.4% | +7.5% | |
| Q2 2017 | -4.2% | -2.2% | -2.9% | |
| Q1 2017 | +2.3% | -0.3% | -2.4% | |
| Q4 2016 | +5.9% | +6.3% | +6.7% | |
| Q3 2016 | -10.1% | -8.6% | -1.2% | |
| Q2 2016 | -1.6% | -2.1% | -3.5% | |
| Q1 2016 | +1.0% | — | — | |
| Q4 2015 | +1.3% | — | — | |
| Q3 2015 | +8.1% | — | — | |
| Q2 2015 | +0.4% | — | — | |
| Q1 2015 | +2.5% | — | — | |
| Q4 2014 | -1.6% | — | — | |
| Q3 2014 | -1.2% | — | — | |
| Q2 2014 | -7.6% | — | — | |
| Q1 2014 | -1.6% | — | — | |
| Q4 2013 | -8.2% | — | — | |
| Q3 2013 | +7.7% | — | — | |
| Q2 2013 | +2.1% | — | — | |
| Q1 2013 | +0.6% | — | — | |
| Q4 2012 | -0.7% | — | — | |
| Q3 2012 | -5.9% | — | — | |
| Q2 2012 | +0.6% | — | — | |
| Q1 2012 | -0.9% | — | — | |
| Q4 2011 | +2.1% | — | — | |
| Q3 2011 | -4.6% | — | — | |
| Q2 2011 | -5.1% | — | — | |
| Q1 2010 | -0.2% | — | — | |
| Q1 2011 | +4.0% | — | — | |
| Q4 2008 | -2.3% | — | — | |
| Q4 2010 | -2.3% | — | — | |
| Q3 2010 | +0.7% | — | — | |
| Q2 2009 | +0.7% | — | — | |
| Q3 2009 | +0.7% | — | — | |
| Q2 2010 | -1.5% | — | — | |
| Q4 2009 | -1.5% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro