Old Republic posts strong Q3, acquires ECM
Old Republic International Corporation earned $279.5 million in the third quarter, down from $338.9 million one year earlier. The insurance company acquired Everett Cash Mutual Insurance Co. and its affiliates after ECM converted to a stock company structure. Operating income rose to $196.7 million from $182.7 million.
The firm reported consolidated net premiums of $2.1 billion, an 8.1 percent increase from 2024. Book value per share reached $26.19, marking an 18.5 percent gain since year-end 2024. The combined ratio was 95.3 percent, compared with 95 percent in the prior-year period.
ECM operates as a farmowners insurer in 48 states and wrote $237 million in premiums last year. The Pennsylvania company held $126 million in policyholders’ surplus. President Craig Smiddy said the deal supports profitable expansion plans.
The transaction requires regulatory approval and policyholder consent before it can close in 2026. Title Insurance premiums climbed 8.3 percent to $767 million. Commercial lines represented 26 percent of total title premiums.
