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Old Republic lifts second-quarter profit as title insurance rebounds
Old Republic said its title underwriting income jumped to $37.6 million, while net premiums and fees earned rose to nearly $2.1 billion.
Old Republic International reported second-quarter 2026 net income of $322.3 million, up from $204.4 million a year earlier, as its title insurance business gained momentum amid a recovery in US home transactions. The company said net operating income fell to $186 million, or $0.76 per share, from $209.2 million, or $0.83 per share, a year earlier.
Consolidated net premiums and fees earned rose to nearly $2.1 billion from nearly $2 billion, but the consolidated combined ratio widened to 95.3% from 93.6%. Old Republic cited favorable prior-year loss reserve development of 0.1 points, down from 2.1 points a year earlier.
The title insurance segment was the standout performer, with underwriting income increasing to $37.6 million from $6.9 million in the second quarter of 2025. Net premiums and fees earned in that segment rose 10.7% to $772.6 million, with commercial premiums making up 25.4% of net premiums earned, up from 23.0% a year earlier.
Insurance Business reports that Old Republic linked the improvement to broader real estate activity, pointing to easing mortgage rates and higher transaction levels in 2026. At the same time, the article notes a longer-term risk from attorney opinion letters, citing Freddie Mac acceptance for more than 15 years, Fannie Mae acceptance since 2022, and an argument from the American Land Title Association that AOLs can leave borrowers and lenders exposed to title risks not found in public records searches.