ORI · 10-K filed 26 Feb 2026 · year to 31 Dec 2025

Old Republic International

24 named things its latest annual report says its results depend on, each in the company's own words. 15 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

Risk-sharing insureds (large deductibles, captives)

insures or lends tonamed as a risk

Because the Company is primarily liable for losses incurred under its policies, the failure or inability of insureds to honor their retained liability represents a credit risk.Risk factors (Item 1A)

Suppliers

Reinsurers

depends onnamed as a risk

The Company depends on reinsurance to manage its risks in terms of the amount of coverage it is able to write, the amount it is able to retain for its own account, and the price at which the Company is able to write it.Risk factors (Item 1A)

Also named by CB, CI, CINF, LNC, PRI, RLI, WRB

Partners and platforms

Independent title agents

depends on · approximately $2.2 billion or 78.1%named as a risk

For the year ended December 31, 2025, approximately $2.2 billion or 78.1% of the Title Insurance segment’s consolidated premium and related fee income was produced by independent title agents.Risk factors (Item 1A)

Also named by FNF

Independent insurance agents and brokers

depends on · Approximately 95% of Specialty Insurance premiums

Approximately 95% of Specialty Insurance premiums are produced through independent agency or brokerage channels, while the remaining 5% is obtained through direct production facilities.Business (Item 1)

National banks

depends onnamed as a risk

Accordingly, there is a risk of concentrated financial exposure in one or more such commercial banking institutions.Risk factors (Item 1A)

Other companies

S&P 500

exposed to its price · $2,487.7named as a risk

The following table illustrates the hypothetical effect on the fixed income and equity investment portfolios resulting from movements in interest rates and fluctuations in the equity securities markets, using the S&P 500 index as a proxy, at December 31, 2025:Market risk (Item 7A)

Also named by CB, CNA, JXN, PRU

Commercial title insurance

earns from · 26% of net premiums earnednamed as a risk

Commercial premiums represented 26% of net premiums earned in 2025.Business (Item 1)

Commercial auto insurance

earns from · 42.1% of Specialty Insurance’s consolidated net premiums earned

Commercial auto remains the Company’s largest line of coverage and accounted for 42.1% of Specialty Insurance’s consolidated net premiums earned in 2025.Business (Item 1)

AM Best

named as a risk

Old Republic’s ability to pay dividends depends largely on the Company’s subsidiaries’ earnings and operating capital requirements, and is subject to regulatory and other constraints of the subsidiaries, including the effect of any such dividends or distributions on the AM Best rating or other ratings of the insurance subsidiaries.Risk factors (Item 1A)

Also named by ERIE, RLI

Electric utilities

concentrated innamed as a risk

While the Company believes its portfolio is well diversified, it has a significant amount invested in electric utilities and in the natural gas exploration and distribution industry.Risk factors (Item 1A)

Also named by HUBB

U.S. real estate market

earns fromnamed as a risk

Demand for the products and services provided by the Title Insurance segment is generally dependent on the strength of the real estate market and the frequency of real estate transactions.Risk factors (Item 1A)

Natural gas exploration and distribution industry

concentrated innamed as a risk

Large commercial title policies

insures or lends tonamed as a risk

Historically, the segment has not obtained reinsurance on its large commercial policies.Risk factors (Item 1A)

Places

Florida

concentrated in · approximately 23% of total segment consolidated premium and related fee incomenamed as a risk

In the aggregate in 2025, Florida accounted for approximately 23% of total segment consolidated premium and related fee income.Risk factors (Item 1A)

Also named by ABR, ALLY, AN, AXP, AZO, BBY, BJ, BRO and 54 more

Canada

earns from · 1.4

Premium growth was most pronounced within commercial auto, general liability, property, and accident & health coverages while Canadian premiums (travel accident and trucking) declined.Business (Item 1)

Also named by AAP, AJG, ALL, AMRC, AOS, ARE, BBY, BF/B and 97 more

Southeast United States

earns from · 22.1%

Consolidated direct premium volume distributed among the various geographical regions shown was as follows for the past three years:Business (Item 1)

Also named by FDUS, JOE

Hazards

Earthquakes

insures or lends tonamed as a risk

Therefore, it is possible that in the event of a catastrophe such as an earthquake that could cause massive property damage or lead to the death or injury of a large number of persons concentrated in a single place, the Company could experience significant non-reinsured losses if the losses exceeded its reinsurance coverage, which could materially and adversely affect the Company’s financial condition and results of operations.Risk factors (Item 1A)

Also named by AAPL, AMKR, AN, ANET, APP, BRO, CDNS, CEG and 37 more

Terrorism

insures or lends tonamed as a risk

The two principal catastrophe exposures are natural catastrophes and acts of terrorism.Risk factors (Item 1A)

Also named by KNSL, SPG

Asbestos and environmental (A&E) claims

insures or lends tonamed as a risk

Loss ratios for general liability coverages tend to be highly volatile year-to-year due to the impact of changes in claim emergence and severity of legacy asbestosis and environmental (A&E) claims exposures.Business (Item 1)

Also named by CB, HIG

Regulators

State insurance regulators

subject to · 10% of statutory surplusnamed as a risk

Generally, the insurance subsidiaries are prohibited from paying dividends to the holding company in excess of either the greater or lesser of (depending upon the state involved) 10% of statutory surplus or a portion of statutory net income without the prior approval of the applicable insurance regulatory authority.Risk factors (Item 1A)

Also named by UNM, VRSK

New York Department of Financial Services (NY DFS)

subject to

The NY DFS Cybersecurity Regulation imposes heightened cybersecurity requirements on licensees such as the Company including required administrative and technical safeguards, and requires prompt notification for certain cybersecurity events, ransomware, and payment of extortion.Business (Item 1)

Also named by ALLY, FIS, JXN, LNC

Laws and programs

Terrorism Risk Insurance Program Reauthorization Act (TRIPRA)

subject tonamed as a risk

Although these programs established a temporary federal reinsurance program through December 31, 2027, primary insurers like the Company’s Specialty Insurance subsidiaries retain significant exposure for terrorist act-related losses.Risk factors (Item 1A)

Also named by AIG

State title insurance rate regulation

subject tonamed as a risk

In many states the approval of the applicable state insurance regulator is required prior to implementing a rate change.Risk factors (Item 1A)

Gramm-Leach-Bliley Act (GLBA)

subject to

Various state insurance privacy laws and regulations, enacted to implement the privacy requirements of the federal Gramm-Leach-Bliley Act of 1999 (GLBA), impose restrictions on the Company’s ability to collect and share consumer personal information and require notices and disclosures to consumers.Business (Item 1)

Also named by BR, CINF, EFX, FICO, FIS, FITB, OMF, PAYC and 4 more