Old Republic International Corporation reported financial results for the third quarter and first nine months of 2026 on October 22, 2026. The company reported net income attributable to shareholders of $243.2 million for the third quarter of 2026, a decrease from $279.5 million in the same period the previous year. On a per-share basis, diluted net income was $0.99, down from $1.11 in the prior year.
Consolidated net premiums and fees earned totaled nearly $2.3 billion for the quarter, an increase of 8.8% compared to the prior year. Net investment income rose to $185.4 million, up 1.5% year-over-year. The company reported a consolidated combined ratio of 96.1% for the quarter, compared to 95.3% in 2025. Net operating income, a non-GAAP measure, was $181.4 million, or $0.73 per diluted share, representing a decrease of 6.0% from the prior year.
Shareholders' equity stood at $5,875.3 million as of September 30, 2026, with book value per common share reported at $24.65. Total capital returned to shareholders during the quarter was $190.2 million, which included $113.8 million in share repurchases. The company declared dividends on common stock of $0.315 per share for the quarter, an increase of 8.6% compared to the prior year.
Segment performance varied during the period. Specialty Insurance net premiums earned increased 9.7% to $1,444.6 million, driven by growth in commercial auto, accident & health, property, and auto warranty coverages. However, underwriting income for the segment decreased 15.4% to $58.5 million. The Title Insurance segment saw net premiums and fees earned increase 7.3% to $823.3 million, with underwriting income rising 15.9% to $32.3 million.
The Specialty Insurance segment noted that a gain on the acquisition of ECM Insurance Group of $124.9 million was recognized following the company's conversion to a stock company, which closed effective July 1, 2026. The company also noted that favorable loss reserve development was 1.1 points for the quarter, compared to 2.5 points in the prior year.
