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Old Republic Announces Several Senior Management Appointments In Its Title Insurance Business

CHICAGO, Nov. 13, 2018 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) today announced the following senior management appointments at its Old Republic National Title Holding Company ("ORNTHC") subsidiary:

Rande K. Yeager (69), currently Chairman & Chief Executive Officer, will continue as Executive Chairman.

Mark A. Bilbrey (65), currently President and Chief Operating Officer, will assume the Chief Executive Officer position.

Carolyn J. Monroe (60), currently President and Chief Operating Officer at the Old Republic Western Title Group ("ORWTG") division, will assume the Presidency of ORNTHC.

Ivy L. Anderson (59), currently Executive Vice President of Old Republic's Western Title Group division, will become President of ORWTG.

The appointments are effective January 1, 2019.

In making this announcement, Al Zucaro (79), ORI's Chairman & Chief Executive Officer, noted that "All these appointments reflect the Company Board's confidence that each appointee will continue to serve with distinction in managing Old Republic's Title business for the best long-term interests of insurance policyholders, customers, shareholders, and other important stakeholders."

About Old Republic

Chicago-based Old Republic International Corporation is one of the nation's 50 largest publicly held insurance organizations. It is a member of the Fortune 500 listing of America's largest companies. Its most recent financial statements reflect consolidated assets of approximately $19.80 billion and common shareholders' equity of $5.31 billion, or $17.76 per share. Its current stock market valuation is approximately $6.74 billion, or $22.27 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 coverages has devolved to a run-off operating mode in recent years. Old Republic's general insurance business ranks among the nation's 50 largest, while its title insurance operations are the third largest in its industry.

The nature of Old Republic's business requires that it be managed for the long run. For the 25 years ended in 2017, the Company's total market return, with dividends reinvested, has grown at a compounded annual rate of 9.1% per share. For the same period, the total market return, with dividends reinvested, for the S&P 500 Index has grown at a 9.7% annual compound rate. During those years, Old Republic's shareholders' equity account, inclusive of cash dividends, has risen at an average annual rate of 9.2% per share, and the regular cash dividend has grown at an 8.7% annual compound rate.

According to the most recent edition of Mergent's Dividend Achievers, Old Republic is one of just 100 qualifying companies, out of thousands considered, that have posted at least 25 consecutive years of annual dividend growth. Moreover, Old Republic has paid a cash dividend without interruption since the World War II year of 1942 (77 years), and it has raised the annual cash dividend pay-out for each of the past 37 years.

Further Information Contacts:

 

AT OLD REPUBLIC:

AT FINANCIAL RELATIONS BOARD:

A. C. Zucaro: Chairman & CEO

Analysts/Investors: Marilynn Meek

(312) 346-8100

(212) 827-3773

 

Cision View original content:http://www.prnewswire.com/news-releases/old-republic-announces-several-senior-management-appointments-in-its-title-insurance-business-300749670.html

SOURCE Old Republic International Corporation