ORI Old Republic International (ORI) Q2 FY26 earnings call
Old Republic International reported mixed results for Q2 FY26, with robust growth and improved profitability in its Title Insurance segment, driven by operational efficiencies and higher transaction volumes. This performance partially offset headwinds in Specialty Insurance, which saw increased combined ratios due to reserve strengthening in a runoff business and higher expenses from strategic technology investments. The company remains focused on bottom-line combined ratios and expects the recent ECM acquisition to be accretive in the second half of the year.
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ORI operating KPIs by quarter
| KPI | This call Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|
| Combined ratio | 95.3%So in the quarter, we produced $238 million of consolidated pretax operating income, and that compares to $268 million, our consolidated combined ratio was 95.3%, and that compares to $93.6 million.Source: earnings call transcript | 96.1%During the quarter, we produced $227 million of consolidated pretax operating income, and that compares to $248 million and our consolidated combined ratio was 96.1%, and that compares to $95.3 million.Source: earnings call transcript | +0.8 pt |
| Combined ratio Specialty Insurance | 95.5%Specialty's combined ratio was 95.5% compared to $90.7 million.Source: earnings call transcript | 96%Specialty produced $204 million of pretax operating income and that compares to $208 million with a combined ratio of 96%, which compares to 94.8%.Source: earnings call transcript | +0.5 pt |
| Combined ratio Title Insurance | 95.1%Title's combined ratio was 95.1% compared to 99.Source: earnings call transcript | 96.1%In title, title net premiums and fees earned were 7.3% higher compared to the third quarter of '25 and title produced $50 million of pretax operating income compared to $46 million with a combined ratio of 96.1% compared to 96.4%.Source: earnings call transcript | +1 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.