Old Republic International Q4 Profit Rises

(RTTNews) - Chicago-based insurance business Old Republic International Corp. (ORI) on Thursday reported higher fourth-quarter earnings, buoyed by good results in general insurance and title insurance. The company's adjusted income per share came in above the Street expectations.

The company posted net income of $627 million or $2.06 per share, higher than $519.7 million or $1.74 per share in the same period last year.

Excluding investment gains, net income was $268.2 million or $0.88 per share in the fourth quarter, up 19.8 percent from $223.8 million or $0.75 per share a year ago. On average, 3 analysts polled by Thomson Reuters expected the company to post income of $0.73 per share in the quarter. Total revenues during the quarter rose to $2.72 billion from $2.42 billion a year ago. Net premiums and fees earned came in at $2.12 billion during the three-month period, 11.3 percent higher than $1.91 billion in the prior-year quarter.