Old Republic traces its beginnings to 1923, although several acquired subsidiaries began
operations much earlier. The Company is one of America's 50 largest shareholder-owned insurance
businesses. Its subsidiaries market, underwrite, and provide risk management services for a wide
variety of coverages, predominantly in the general (property and liability), mortgage guaranty,
and title insurance fields. The Company is primarily a commercial lines underwriter serving the
insurance needs of a large number of organizations, including many of America's leading industrial
and financial services institutions.
For the beneficiaries of their insurance products and services, Old Republic's insurance subsidiaries
provide quality assurance of the promises they make. For employees, the Company offers an environment
of success in which they can pursue personal goals of professional and economic achievement in the
context of Old Republic's business objectives.
Old Republic's record as a long-term investment compares very favorably within American industry.
The Company's performance reflects an entrepreneurial spirit, a necessary long-term orientation in the
management of its business, and a corporate structure that promotes accountability and encourages the
taking of prudent business risks. The Company's common stock has a demonstrated history of long-term
capital appreciation and a cash dividend payment record that now extends to 68 consecutive years. According
to the most recent edition of Mergent's Dividend Achievers, Old Republic is one of just 119 companies, out of
10,000-plus publicly held corporations, that have posted at least 25 consecutive years of annual dividend
growth. Click here to visit the website of our parent
This group of companies is one of the nation's 50 largest property and liability insurers as measured by revenues, as well
as the largest of Old Republic's business segments. It offers a wide variety of property and liability insurance coverages
and related services, predominantly to commercial and institutional customers. The majority of coverages are liability and
financial indemnity insurance products. Old Republic does not have meaningful exposures to property types of coverages.
About 83% of the General Insurance business is produced through independent agency and brokerage channels, while the remaining
17% is obtained via direct production facilities.
The following chart reflects the Old Republic General Insurance Group's sources of premium volume distributed among the major
sectors of the American economy it serves.
Old Republic's major operating companies are listed below together with their main areas of focus. The percentage included
parenthetically after each operating company's name indicates its approximate contribution to the General Insurance Group's
current gross premium volume. The letters shown parenthetically after each insurance company's name represent the most recent
financial ratings awarded by independent agencies in the following order: A. M. Best, Fitch, Moody's, and Standard & Poor's. A
dash (-) in the ordered space indicates that the agency in question either does not rate the particular Old Republic company,
or that such company has not sought a rating.
The Bituminous Companies offer specialized risk transfer programs principally for the forest products, oil and gas, and
construction industries. The largest coverages underwritten consist of workers' compensation, commercial automobile, general
liability, and commercial multi-peril. Independent agents produce most of Bitco's business volume.
Chicago Underwriting Group is responsible for Old Republic's Directors and Officers and professional liability lines. Old
Republic Insurance Company underwrites substantially all this business, which is generated largely through brokerage channels.
Great West specializes in the American trucking industry. Its largest coverages are commercial auto (trucking) liability and
physical damage, cargo and inland marine, and workers' compensation insurance. The Company's long-term successful strategy
emphasizes targeted growth through a specialized agency force. Great West operates in close harmony with Old Republic
Insurance Company of Canada's truck insurance operation, as well as affiliates such as Old Republic Financial Acceptance
Corporation (equipment finance) and Old Republic Life Insurance Company (occupational accident coverage for truckers).
Old Republic Construction Program Group focuses on specialized liability insurance coverages and services for trade contractors
and large construction projects. This business, which became part of Old Republic in late 2006, is produced through a diverse
broker network and underwritten by Old Republic General Insurance Corporation (A/A+/-/A+).
Old Republic Home Protection Company offers one-year home warranty contracts covering major operating systems and appliances
in residential resale homes. The company provides policies on a direct basis.
ORINSCO, our flagship carrier domiciled in Greensburg, Pennsylvania, is the main policy-issuer for the various specialty
operations identified herein. The company also serves as a regional middle-market standard coverage insurer for the metals,
wood, stone, plastics and healthcare industries.
ORIAS specializes in automobile service contracts, mechanical breakdown insurance, and guaranteed asset protection (GAP)
programs for new and used automobiles. Old Republic Insurance Company issues these policies and contracts, which are generated
largely by independent agents.
ORICS protects lenders from defaults on a variety of consumer borrowings, including loans in the property improvement
and equity lending portfolios of financial institutions. Its credit indemnity insurance programs have been successfully
underwritten through Old Republic Insurance Company since 1954. Old Republic Equity Credit Services, Inc. (ORECS), an ORICS
subsidiary, provides loan loss recovery and collection services on performing and non-performing real estate and other consumer
ORRM focuses on large national accounts in the manufacturing and service sectors of the American economy. Its business is
underwritten through individually tailored, loss-sensitive alternative market insurance programs that encourage assureds to
retain a vested interest in their own risk exposures. ORRM's business is produced mostly through brokerage channels and uses
Old Republic Insurance Company's risk-bearing capacity.
Old Republic Surety Company ranks among the nation's top underwriters of fidelity and surety bonds. Approximately 9,000
independent insurance agencies market these financial indemnity products.
Phoenix Aviation Managers, Old Republic's aviation insurance division, issues policies covering hull, liability, and workers'
compensation exposures, largely for private and corporate aircraft and air travel facilities. Old Republic Insurance Company
is the underwriter.
Established in 1915 and headquartered in Blue Bell, PA, PMA Companies provides a continuum of property and casualty risk
solutions ranging from insurance products to risk management services for self-insured clients through its operating
companies: PMA Insurance Group, specializing in workers' compensation and other property & casualty insurance products
in select industries; PMA Management Corp. and PMA Management Corp. of New England, providing Third-Party Administration
(TPA) of claims and risk services; and Midlands Management Corporation, offering program administration specializing in
excess workers' compensation and specialty casualty claims services. PMA is committed to specialized underwriting, diligent
claims management, and providing excellent service, in order to deliver tangible value for its clients.
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information about the Old Republic General Insurance Group.