OLD REPUBLIC INTERNATIONAL CORPORI

Market cap

$11.4B

P/E ratio

	Dec 31, 2011	Dec 31, 2012	Dec 31, 2013	Dec 31, 2014	Dec 31, 2015	Dec 31, 2016	Dec 31, 2017	Dec 31, 2018	Dec 31, 2019	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024
Net income	-140	-69	448	410	422	467	561	371	1,056	559	1,534	686	599	853
Deferred policy acquisition costs	-33	-32	28	39	24	18	23	18	9	3	22	32	35	113
Accounts and notes receivable	16	106	56	97	23	59	79	29	-32	123	175	159	274	270
Loss and loss adjustment expense reserves	-	-	-	-	-	-31	124	-148	-215	-341	280	222	93	355
Increase (Decrease) in Other Policyholder Funds	23	53	103	104	70	78	153	95	32	35	103	158	194	363
Federal income taxes	89	61	-104	-133	-13	-41	-49	70	-37	18	-151	55	47	-21
Reinsurance balances and funds held	12	-52	-55	-71	-27	-33	-25	-13	10	-77	-37	-147	-24	-141
Realized Investment Gains (Losses)	116	48	148	272	91	73	212	-236	636	14	7	62	-67	89
Unrealized from changes in fair value of equity securities	-	-	-	-	-	-	-	-294	600	-156	751	-263	-124	-19
Other - net	111	99	67	36	97	157	135	30	88	176	161	2	136	-45
Total	-95	532	687	-181	688	637	453	761	936	1,185	1,312	1,171	880	1,233
Maturities and calls on fixed income securities	927	1,080	1,387	854	764	968	1,001	964	779	1,280	1,411	1,356	1,353	1,618
Fixed income securities	1,770	406	195	848	260	306	468	299	663	400	338	1,403	1,447	2,438
Equity securities	-	-	-	-	-	-	-	-	-	-	541	2,249	692	327
Other investments	31	28	29	17	33	57	30	19	33	9	8	11	15	11
Fixed income securities	2,410	1,598	2,121	1,373	1,023	1,166	1,607	1,422	1,702	2,059	2,331	5,010	2,920	4,014
Equity securities	-	-	-	-	-	-	-	-	-	-	1,032	58	92	24
Other investments	51	38	45	48	47	48	54	52	61	50	56	60	106	104
Proceeds from Divestiture of Interest in Consolidated Subsidiaries	-	-	-	-	-	-	-	-	-	-	-	-	-	137
Net increase in short-term investments	476	-211	-139	-513	56	12	-12	-314	130	265	-184	296	363	391
Payments for (Proceeds from) Other Investing Activities	-	1	0	2	-1	-	0	-0	-	0	-	12	-0	1
Total	-187	-4	-458	-43	-450	-1,036	-294	-239	-425	-845	-936	-415	25	-4
Proceeds from Issuance of Long-term Debt	-	-	-	-	-	-	-	-	-	-	643	-	-	396
Issuance of common shares	1	1	12	6	12	8	18	13	14	7	60	27	31	2
Redemption of debentures and notes	112	340	4	4	3	4	4	5	8	9	22	-	5	400
Purchase of unallocated 401(k) plan shares	-	-	-	-	-34	-	-	50	-	50	-	-	-	-
Dividends on common shares (including special dividends of $308.4 paid in 2022)	178	182	185	188	191	194	199	499	539	250	1,019	580	276	272
Treasury stock acquired	-	-	-	-	-	-	-	-	-	-	-	281	535	942
Other - net	0	0	-0	0	1	-3	6	-6	0	2	3	2	2	-11
Total	248	-520	-177	208	-215	385	-178	-546	-533	-300	-336	-833	-783	-1,227
Increase (decrease) in cash	-	-	-	-	-	-	-	-	-	-	39	-77	123	2
Net Cash Provided by (Used in) Discontinued Operations	-	-	-	-	-	-	-	-	-	-	-	-	-1	-3
Cash paid (received) during the period for: Interest	42	35	21	21	41	41	63	51	42	41	53	66	66	77
Income Taxes Paid, Net	-7	2	122	67	199	179	106	137	229	149	237	227	198	196