Short answer
Old Republic International Corp (ORI) filed its fiscal 2017 10-K annual report with the SEC on Feb 28, 2018. It reported revenue of $6.3B (+6.1% year over year) and net income of $561M.
- Top risk flagged: North Carolina Department of Insurance oversight: RMIC and RMGIC previously deferred 40% of settled claims
FY2017 key financial metrics · XBRL
- Revenue
- $6.3B
- +6.1% YoY
- Net income
- $561M
- +20.0% YoY
- EPS (diluted)
- $1.92
- +18.5% YoY
- ROE
- 11.8%
- +1.4 pp YoY
- Operating cash flow
- $453M
- −29.0% YoY
Source: XBRL data from the Old Republic International Corp (ORI) FY2017 10-K on SEC EDGAR. USD.
Old Republic International Corp FY2017 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Long-term insurance underwriting platform spanning General Insurance, Title Insurance, and RFIG mortgage-guaranty and CCI run-off operations
- RFIG run-off de-risking milestone: North Carolina supervision terminated December 8, 2017, with subsidiaries deemed eminently solvent
- CCI final litigation provisions: additional $107.0 million claim and expense charges materially drove RFIG’s $73.5 million pretax loss
- Consolidated net revenues $6,263.1 million, up from $5,900.5 million, with Title revenue $2,325.0 million
- Approximately 8,700 full-time employees, with roughly 50% in the Title Insurance segment
Management Discussion & Analysis
- Operating revenue $6,051.5M, up 3.8% YoY from $5,827.6M
- Net income $560.5M, up 20.0%; net operating margin 5.3% vs 7.2%
- Best segment Title: pretax income $237.1M, up 12.8%; worst RFIG: $(73.5)M vs $69.8M
- Operating cash flow $452.8M; dividends $1.7600 per share, including $1.00 special dividend
- Outlook: General claim ratios targeted high 60% to low 70%; risks include housing demand, mortgage defaults, competition and reserve volatility
Risk Factors
- North Carolina Department of Insurance oversight: RMIC and RMGIC previously deferred 40% of settled claims
- Housing downturn exposure: mortgage-guaranty runoff losses tied to housing and mortgage-market dislocations
- Reinsurance concentration: declining number of acceptable reinsurers could force higher retained liability
- Title distribution vulnerability: independent agencies can redirect business to competing insurers
- Parent liquidity dependence: dividends from regulated subsidiaries fund debt service, shareholder dividends, and expenses
Generated from the filing text; verify against the original. How to read a 10-K
Other Old Republic International Corp annual reports
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.