Short answer
Old Republic International Corp (ORI) filed its Q3 2016 10-Q quarterly report on Nov 4, 2016 for the quarter ended Sep 30, 2016.
Old Republic International Corp Q3 2016 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $1,488.7M, down 1.0% YoY from $1,504.2M
- Operating margin 10.5% vs 9.5% YoY, based on pretax operating income
- Best segment RFIG: operating income $18.4M vs $(12.5)M; worst General Insurance: $75.9M vs $97.0M
- Operating cash flow $401.9M, down from $566.5M; cash and invested assets $12,870.5M
- Headwinds: competitive construction and energy-services markets, mortgage disclosure rules, Bank of America litigation costs
Risk Factors
- Newly disclosed Ocwen litigation: RMIC faces alleged contract, bad-faith, and fair-claims violations involving specific mortgage insurance certificates
- Regulatory risk: RMIC and RMICNC remain under North Carolina supervision with authority to amend the Amended Plan
- Operational risk: General Insurance composite ratio increased to 98.1% from 96.5% amid higher expenses
- Financial risk: Debt rose to $1,528.0 million after issuing $550.0 million of 3.875% notes due 2026
- Legal risk: Countrywide trial scheduled March 13, 2017 over rescission and counterclaims involving credit indemnity policies
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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