CHICAGO, Sept. 3, 2015 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) today reported that its Employees Savings & Stock Ownership Plan ("ESSOP") planned to acquire up to 2,200,000 Old Republic common shares in open market purchases, as market conditions may warrant. As of June 30, 2015 the ESSOP held approximately 12.9 million ORI common shares or approximately 4.9% of all shares then outstanding. Assuming all 2.2 million shares are ultimately acquired, the ESSOP would own approximately 15.1 million ORI common shares or approximately 5.8% of all currently outstanding common shares.
About Old Republic
Chicago-based Old Republic International Corporation is one of the nation's 50 largest publicly held insurance organizations. Its most recent financial statements reflect consolidated assets of approximately $17.27 billion and common shareholders' equity of $3.93 billion, or $15.16 per share. Its current stock market valuation is approximately $4.04 billion, or $15.25 per share.
The Company is organized as an insurance holding company whose subsidiaries actively market, underwrite, and provide risk management services for a wide variety of coverages mostly in the general and title insurance fields. A long-term interest in mortgage guaranty and consumer credit indemnity lines has devolved to a run-off operating mode in recent years.
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Old Republic International Corporation
307 North Michigan Avenue
Chicago, IL 60601
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SOURCE Old Republic International Corporation
AT OLD REPUBLIC: A. C. Zucaro: Chairman & CEO, (312) 346-8100; or AT FINANCIAL RELATIONS BOARD: Analysts/Investors: Marilynn Meek, (212) 827-3773