Old Republic International Corporation
(NYSE:ORI)

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. The company operates through three segments: General Insurance, Title Insurance, and the Republic Financial Indemnity Group...

Website: http://www.oldrepublic.com

Founded: 1923

Full Time Employees: 9,000

Sector: Financial Services

Industry: Insurance-Diversified

Insurance

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Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31

revenues:
net premiums earned	1,913,200,000	2,060,400,000	2,018,600,000	1,926,700,000	1,782,900,000	1,871,600,000	1,854,200,000	1,725,900,000	1,574,600,000	1,681,000,000	1,691,100,000	1,577,400,000	1,496,200,000	1,763,600,000	1,862,300,000	1,887,400,000	1,828,700,000	2,017,300,000	1,941,700,000	1,868,500,000	1,732,200,000	2,120,000,000	1,496,000,000	1,353,100,000	1,376,700,000	1,481,800,000	1,423,400,000	1,329,600,000	1,263,400,000	978,600,000	1,388,600,000	1,294,700,000	1,231,000,000	1,327,600,000	1,312,000,000	1,239,200,000	1,201,300,000	1,286,800,000	1,238,600,000	1,192,600,000	1,150,800,000	1,238,100,000	1,259,400,000	1,158,200,000	1,103,000,000	1,154,600,000	1,159,000,000	1,075,400,000	1,057,200,000	1,133,000,000	1,163,400,000	1,100,000,000	1,060,200,000	1,057,400,000	1,061,400,000	981,400,000	943,600,000	965,000,000	917,100,000	890,500,000	922,800,000	929,100,000	797,700,000	746,200,000	752,300,000	867,800,000	784,200,000	737,700,000	721,800,000	752,600,000	784,700,000			851,600,000	870,100,000	853,000,000	814,200,000
title, escrow, and other fees	58,900,000	70,500,000	67,500,000	67,900,000	58,100,000	70,000,000	74,900,000	71,500,000	68,000,000	62,600,000	69,000,000	71,200,000	58,900,000	67,100,000	80,900,000	94,800,000	90,200,000	104,700,000	113,600,000	118,700,000	106,600,000	-27,000,000	168,900,000	129,900,000	120,100,000	132,100,000	138,200,000	130,900,000	94,600,000	85,250,000	116,200,000	125,500,000	99,300,000	114,900,000	121,400,000	123,500,000	99,700,000	121,300,000	126,700,000	121,300,000	94,800,000	101,100,000	112,700,000	115,200,000	91,400,000	94,600,000	97,500,000	97,200,000	75,400,000	92,500,000	108,800,000	122,200,000	105,400,000	112,000,000	113,900,000	107,100,000	93,900,000	97,100,000	90,000,000	87,200,000	80,100,000	95,100,000	87,600,000	89,100,000	76,100,000	75,800,000	71,800,000	74,000,000	55,600,000	48,000,000	50,400,000			45,400,000	50,900,000	60,100,000	55,500,000
total premiums and fees	1,972,200,000	2,130,900,000	2,086,200,000	1,994,600,000	1,841,000,000	1,941,500,000	1,929,200,000	1,797,400,000	1,642,700,000	1,743,600,000	1,760,100,000	1,648,700,000	1,555,200,000	1,830,700,000	1,943,300,000	1,982,300,000	1,919,000,000	2,122,000,000	2,055,400,000	1,987,300,000	1,838,900,000	2,093,000,000	1,664,900,000	1,483,100,000	1,496,800,000	1,613,800,000	1,561,700,000	1,460,500,000	1,358,100,000	1,063,875,000	1,504,800,000	1,420,200,000	1,330,400,000	1,442,400,000	1,433,400,000	1,362,800,000	1,301,000,000	1,408,100,000	1,365,400,000	1,313,900,000	1,245,700,000	1,339,300,000	1,372,100,000	1,273,500,000	1,194,400,000	1,249,200,000	1,256,600,000	1,172,600,000	1,132,700,000	1,225,500,000	1,272,200,000	1,222,200,000	1,165,600,000	1,169,500,000	1,175,300,000	1,088,500,000	1,037,500,000	1,062,100,000	1,007,200,000	977,700,000	1,003,000,000	1,024,200,000	885,400,000	835,400,000	828,500,000	943,500,000	856,100,000	811,800,000	777,400,000	800,600,000	835,200,000			897,000,000	921,100,000	913,200,000	869,800,000
net investment income	178,000,000	183,800,000	182,600,000	171,500,000	170,700,000	170,400,000	171,000,000	167,400,000	164,100,000	155,200,000	145,900,000	139,400,000	137,800,000	130,300,000	115,100,000	107,800,000	106,200,000	110,700,000	111,600,000	107,600,000	104,300,000	109,600,000	106,400,000	108,700,000	114,100,000	112,900,000	112,700,000	113,000,000	112,100,000	-321,499,994.5	108,700,000	106,900,000	105,800,000	103,700,000	103,300,000	101,000,000	101,200,000	100,000,000	95,700,000	94,900,000	96,300,000	99,700,000	104,200,000	93,100,000	91,400,000	91,200,000	86,100,000	85,400,000	82,800,000	81,500,000	78,900,000	78,800,000	79,300,000	83,600,000	82,000,000	85,000,000	85,800,000	89,100,000	90,800,000	93,100,000	91,500,000	95,000,000	92,600,000	95,000,000	96,200,000	99,600,000	96,700,000	93,700,000	93,400,000	95,000,000	93,800,000			99,500,000	95,100,000	93,700,000	91,500,000
other income	47,300,000	47,400,000	50,700,000	49,600,000	47,200,000	44,600,000	43,700,000	47,300,000	41,900,000	42,100,000	40,900,000	40,600,000	39,400,000	36,200,000	39,700,000	37,600,000	36,200,000	33,600,000	37,800,000	37,800,000	36,300,000	32,700,000	31,700,000	32,000,000	34,600,000	35,200,000	32,900,000	34,100,000	30,400,000	-91,099,981.1	30,400,000	30,100,000	30,600,000	25,900,000	20,400,000	28,200,000	27,600,000	25,900,000	27,500,000	26,600,000	27,300,000	26,900,000	27,800,000	26,500,000	25,400,000	25,200,000	26,700,000	25,800,000	23,800,000	23,100,000	23,300,000	23,200,000	20,400,000	25,800,000	28,700,000	28,300,000	31,600,000	28,600,000	31,000,000	27,000,000	28,500,000	26,800,000	4,500,000	4,800,000	4,800,000	4,800,000	5,700,000	6,600,000	7,600,000	4,100,000	7,200,000			8,300,000	9,600,000	12,000,000	9,400,000
total operating revenues	2,197,600,000	2,362,100,000	2,319,600,000	2,215,800,000	2,059,000,000	2,156,500,000	2,144,000,000	2,012,200,000	1,848,800,000	1,940,900,000	1,947,000,000	1,828,800,000	1,732,400,000	1,997,200,000	2,098,200,000	2,127,800,000	2,061,500,000	2,266,200,000	2,204,900,000	2,132,800,000	1,979,600,000	2,235,300,000	1,803,000,000	1,623,900,000	1,645,700,000	1,761,900,000	1,707,300,000	1,607,700,000	1,500,600,000	-4,668,199,996.6	1,644,000,000	1,557,300,000	1,466,800,000	1,572,100,000	1,557,200,000	1,492,100,000	1,429,900,000	1,534,000,000	1,488,700,000	1,435,500,000	1,369,300,000	1,465,900,000	1,504,200,000	1,393,300,000	1,311,300,000	1,365,600,000	1,369,400,000	1,283,900,000	1,239,300,000	1,330,100,000	1,374,600,000	1,324,300,000	1,265,400,000	1,279,000,000	1,286,100,000	1,201,900,000	1,155,100,000	1,179,800,000	1,129,000,000	1,097,900,000	1,123,000,000	1,145,900,000	982,600,000	935,300,000	929,600,000	1,047,800,000	958,600,000	912,200,000	878,500,000	899,700,000	936,300,000			1,004,900,000	1,025,900,000	1,018,900,000	970,900,000
net investment gains:
realized from actual transactions and impairments	85,300,000	173,100,000	-6,000,000	-2,400,000	37,400,000	-24,300,000	-13,100,000	-54,100,000	180,400,000	-53,900,000	-43,500,000	2,100,000	28,200,000	-30,100,000	-26,200,000	53,200,000										7,300,000	6,300,000
unrealized from changes in fair value of
equity securities	116,400,000	30,850,000	110,700,000	-4,900,000	17,600,000	27,775,000	210,800,000	-86,300,000		-44,500,000	-143,300,000	-32,600,000	-2,000,000	-160,450,000	-350,800,000	-370,700,000	79,800,000	72,025,000	-199,300,000	119,900,000	367,500,000	-132,350,000	79,200,000	354,000,000	-962,700,000	109,825,000	57,300,000	26,300,000	355,600,000	4,425,000	128,400,000	41,300,000	-152,000,000
total net investment gains	201,800,000	27,300,000	104,700,000	-7,300,000	55,000,000	-154,400,000	197,700,000	-140,500,000	167,100,000			-30,400,000
total revenues	2,399,400,000	2,389,400,000	2,424,300,000	2,208,500,000	2,114,000,000	2,002,100,000	2,341,700,000	1,871,700,000	2,015,900,000	1,941,100,000	1,760,100,000	1,798,300,000	1,758,700,000	2,345,600,000	1,721,000,000	1,810,300,000	2,206,600,000	2,720,600,000	2,012,200,000	2,253,700,000	2,355,000,000	2,610,000,000	1,883,800,000	1,970,600,000	701,500,000	1,929,300,000	1,771,000,000	1,644,700,000	1,868,600,000	1,185,225,000	1,779,700,000	1,630,700,000	1,330,400,000	1,726,200,000	1,593,000,000	1,499,000,000	1,444,800,000	1,548,800,000	1,496,000,000	1,442,200,000	1,413,500,000	1,480,200,000	1,545,700,000	1,410,000,000	1,330,200,000	1,375,100,000	1,391,000,000	1,333,900,000	1,430,600,000	1,331,700,000	1,379,500,000	1,461,500,000	1,269,900,000	1,283,300,000	1,304,800,000	1,223,900,000	1,158,000,000	1,307,500,000	1,113,500,000	1,094,900,000	1,129,500,000	1,175,400,000	986,500,000	1,008,100,000	932,600,000	1,054,800,000	957,600,000	912,600,000	878,500,000	836,100,000	943,100,000			1,055,000,000	1,029,800,000	1,032,200,000	973,900,000
yoy	13.50%	19.34%	3.53%	17.99%	4.87%	3.14%	33.04%	4.08%	14.62%	-17.25%	2.27%	-0.66%	-20.30%	-13.78%	-14.47%	-19.67%	-6.30%	4.24%	6.82%	14.37%	235.71%	35.28%	6.37%	19.82%	-62.46%	62.78%	-0.49%	0.86%	40.45%	-31.34%	11.72%	8.79%	-7.92%	11.45%	6.48%	3.94%	2.21%	4.63%	-3.22%	2.28%	6.26%	7.64%	11.12%	5.71%	-7.02%	3.26%	0.83%	-8.73%	12.65%	3.77%	5.73%	19.41%	9.66%	-1.85%	17.18%	11.78%	2.52%	11.24%	12.87%	8.61%	21.11%	11.43%	3.02%	10.46%	6.16%	26.16%	1.54%			-20.75%	-8.42%
qoq	0.42%	-1.44%	9.77%	4.47%	5.59%	-14.50%	25.11%	-7.15%	3.85%	10.28%	-2.12%	2.25%	-25.02%	36.29%	-4.93%	-17.96%	-18.89%	35.21%	-10.72%	-4.30%	-9.77%	38.55%	-4.40%	180.91%	-63.64%	8.94%	7.68%	-11.98%	57.66%	-33.40%	9.14%	22.57%	-22.93%	8.36%	6.27%	3.75%	-6.71%	3.53%	3.73%	2.03%	-4.51%	-4.24%	9.62%	6.00%	-3.27%	-1.14%	4.28%	-6.76%	7.43%	-3.47%	-5.61%	15.09%	-1.04%	-1.65%	6.61%	5.69%	-11.43%	17.42%	1.70%	-3.06%	-3.91%	19.15%	-2.14%	8.10%	-11.59%	10.15%	4.93%	3.88%	5.07%	-11.35%				2.45%	-0.23%	5.99%
expenses:
loss and loss adjustment expenses	835,500,000	910,100,000	852,300,000	826,500,000	772,100,000	788,800,000	809,400,000	731,500,000	694,600,000	709,500,000	657,400,000	612,800,000	600,200,000	563,300,000	624,300,000	635,600,000
dividends to policyholders	4,600,000	2,000,000	4,500,000	4,100,000	5,500,000	4,100,000	6,500,000	10,000,000	2,800,000	1,900,000	5,900,000	4,900,000	3,600,000	1,700,000	4,200,000	3,000,000	3,400,000	5,200,000	2,900,000	9,100,000	5,400,000	4,900,000	4,900,000	6,200,000	2,900,000	10,100,000	4,200,000	5,300,000	7,500,000	3,600,000	4,200,000	6,300,000	3,800,000	2,000,000	7,300,000	5,900,000	4,100,000	3,800,000	4,400,000	5,500,000	4,200,000	5,600,000	3,300,000	3,600,000	5,300,000	3,600,000	3,400,000	3,400,000	3,900,000	3,500,000	3,300,000	3,500,000	4,800,000	6,000,000	5,800,000	3,100,000	3,000,000	4,600,000	3,800,000	3,700,000	3,500,000	5,500,000	2,400,000	1,700,000	2,500,000	1,800,000	1,200,000	1,900,000	2,800,000	3,300,000	4,000,000			2,400,000	1,900,000	2,200,000	2,700,000
underwriting, acquisition, and other expenses	1,128,000,000	1,196,700,000	1,197,000,000	1,099,900,000	1,010,700,000	1,061,200,000	1,077,400,000	994,500,000	903,300,000	975,700,000	1,016,300,000	962,900,000	888,600,000	1,114,700,000	1,195,800,000	1,209,600,000	1,199,000,000	1,340,500,000	1,270,800,000	1,220,600,000	1,110,300,000	1,339,400,000	929,100,000	836,900,000	836,900,000	906,500,000	845,000,000	793,500,000	733,400,000	577,500,000	815,200,000	766,600,000	728,000,000			721,700,000	700,200,000	515,075,000	724,000,000	689,900,000	646,300,000	703,500,000	693,900,000					573,500,000		471,575,000	656,000,000	634,200,000	595,900,000	418,875,000	590,100,000			385,700,000	538,300,000		503,600,000	523,300,000	436,100,000	417,600,000	400,600,000	393,700,000	388,300,000	353,300,000	318,600,000	324,400,000	333,200,000						393,600,000
interest and other charges	17,700,000	17,400,000	17,300,000	17,600,000	17,800,000	17,300,000	21,300,000	22,200,000	16,400,000	16,500,000	16,400,000	20,700,000	16,900,000	16,800,000	16,300,000	16,600,000	16,900,000	16,500,000	16,800,000	12,100,000	10,600,000	11,900,000	9,500,000	10,400,000	11,900,000	9,200,000	9,700,000	10,400,000	10,600,000	8,575,000	9,900,000	10,000,000	14,400,000	14,700,000	15,800,000	16,000,000	16,400,000	16,200,000	12,600,000	10,600,000	10,700,000	10,900,000	10,200,000	10,200,000	10,500,000	9,200,000	5,100,000	5,500,000	5,700,000	4,800,000	5,400,000	5,600,000	5,800,000	5,800,000	5,800,000	9,700,000	14,900,000	13,600,000	24,400,000	14,600,000	10,600,000	13,900,000	6,200,000	5,300,000	6,500,000	8,400,000	9,800,000	5,300,000	600,000	1,300,000				1,300,000	1,100,000	2,600,000	2,200,000
total expenses	1,986,000,000	2,126,300,000	2,071,300,000	1,948,300,000	1,806,300,000	1,871,300,000	1,914,800,000	1,758,300,000	1,617,200,000	1,703,600,000	1,696,200,000	1,601,400,000	1,509,500,000	1,696,600,000	1,840,700,000	1,865,000,000	1,823,900,000	1,931,100,000	1,906,200,000	1,857,700,000	1,724,400,000	1,957,700,000	1,576,800,000	1,471,500,000	1,471,500,000	1,583,300,000	1,518,600,000	1,439,200,000	1,350,100,000	1,041,300,000	1,444,600,000	1,384,000,000	1,336,400,000	1,371,500,000	1,533,300,000	1,352,700,000	1,280,100,000	1,358,000,000	1,331,900,000	1,293,400,000	1,231,100,000	1,338,800,000	1,360,900,000	1,258,100,000	1,176,400,000	1,283,700,000	1,269,600,000	1,234,200,000	1,133,600,000	1,189,400,000	1,229,700,000	1,165,200,000	1,185,400,000	1,319,800,000	1,335,900,000	1,282,200,000	1,160,700,000	1,228,200,000	1,296,200,000	1,203,300,000	1,154,400,000	1,199,200,000	1,047,300,000	927,300,000	901,300,000	1,038,200,000	1,069,400,000	998,300,000	971,300,000	1,024,100,000	1,016,500,000			1,034,500,000	994,800,000	865,000,000	818,200,000
income before income taxes	413,400,000	263,100,000	352,900,000	260,100,000	307,700,000	130,700,000	426,900,000	113,300,000	398,700,000	237,400,000	63,900,000	196,900,000	249,200,000	649,100,000	-119,600,000	-54,600,000	382,600,000	789,500,000	106,000,000	396,000,000	630,600,000	652,300,000	306,900,000	499,100,000	-769,900,000	346,100,000	252,400,000	205,400,000	518,500,000	143,925,000	335,100,000	246,600,000	-6,000,000	354,700,000	59,600,000	146,300,000	164,700,000	190,800,000	164,000,000	148,800,000	182,300,000	141,500,000	184,700,000	151,800,000	153,700,000	91,400,000	121,400,000	99,600,000	296,900,000	142,300,000	149,700,000	296,300,000	84,500,000	-36,400,000	-31,100,000	-58,300,000	-2,600,000	79,300,000	-182,700,000	-108,300,000	-24,900,000	-23,700,000	-60,700,000	80,800,000	31,200,000			-85,600,000	-92,700,000					20,500,000	35,000,000	167,200,000	155,600,000
income taxes:
current	62,700,000	70,400,000	54,100,000	55,100,000	45,500,000	59,200,000	40,600,000	29,300,000	76,000,000	41,000,000	46,600,000	47,300,000	51,200,000	23,200,000	79,500,000	60,200,000	63,100,000	61,300,000	63,000,000	46,600,000	50,700,000	46,000,000	45,000,000	25,900,000	40,000,000	125,200,000	38,900,000	30,600,000	43,700,000	23,925,000	34,200,000	35,400,000	26,000,000	-5,800,000	52,900,000	33,400,000	51,900,000	44,900,000	49,400,000	38,600,000	57,100,000	36,900,000	68,600,000	46,400,000	48,900,000	8,100,000	6,600,000	31,700,000	106,000,000	3,900,000	46,000,000	29,900,000	-800,000	5,300,000	-300,000	-3,100,000	600,000	-15,700,000	-25,800,000	-1,400,000	6,200,000	-36,700,000	2,800,000		11,400,000	9,000,000	10,900,000	11,800,000	24,700,000	-32,400,000	13,500,000			39,500,000	44,800,000	38,900,000	49,100,000
deferred	21,100,000	-14,500,000	18,600,000	-3,400,000	16,100,000	-33,700,000	47,300,000	-7,800,000	5,800,000	5,800,000	-35,300,000	-5,900,000	-1,900,000	113,600,000	-107,300,000	-74,600,000	13,200,000	101,100,000	-45,700,000	32,900,000	77,700,000	86,600,000	15,900,000	75,500,000	-205,200,000	-55,000,000	10,500,000	9,300,000	62,500,000	725,000	25,600,000	13,400,000	-36,100,000	60,800,000	-39,400,000	11,100,000	-300,000	13,900,000	3,600,000	9,000,000	2,200,000	13,800,000	-9,800,000	3,300,000	1,300,000	20,100,000	28,800,000	1,800,000	-3,400,000	43,700,000	800,000	72,300,000	29,100,000	-21,600,000	-15,800,000	-21,100,000	-3,700,000	39,700,000	-40,300,000	-40,600,000	-18,100,000	26,400,000	-24,500,000	23,400,000	-5,200,000	-9,300,000	-76,400,000	-81,600,000	-63,500,000	-29,100,000	-38,900,000			-39,300,000	-39,000,000	13,100,000	-1,300,000
total income taxes	83,800,000									25,500,000	11,300,000	41,300,000
net income:
total net income	329,500,000	207,200,000	280,100,000	208,400,000	246,100,000
net income attributable to noncontrolling interests	-500,000	900,000	500,000	3,900,000	1,100,000
net income to shareholders	330,000,000	206,400,000	279,500,000	204,400,000	245,000,000
net income per share
basic	1.36	0.84	1.14	0.83	1.01	0.44	1.35	0.35	1.17	0.69	0.19	0.55	0.68	1.71	-0.31	-0.13	1.01	2.07	0.29	1.06	1.68	1.74	0.83	1.34	-2.01	0.92	0.68	0.55	1.38	0.408	0.92	0.66	0.01	1.14	0.18	0.39	0.43	0.51	0.43	0.39	0.48	0.35	0.48	0.39	0.4	0.24	0.33	0.26	0.75	0.37	0.4	0.76	0.22	-0.08	-0.06	-0.13		0.22	-0.46															0.273	0.13	0.5	0.47
diluted	1.32	0.81	1.11	0.81	0.98	0.43	1.32	0.35	1.15	0.68	0.19	0.54	0.68	1.69	-0.31	-0.13	1	2.05	0.29	1.05	1.68	1.74	0.83	1.34	-2.01	0.92	0.67	0.55	1.37	0.398	0.92	0.66	0.01	1.01	0.17	0.35	0.39	0.45	0.39	0.35	0.43	0.32	0.44	0.36	0.36	0.23	0.3	0.24	0.67	0.33	0.36	0.67	0.21	-0.08	-0.06	-0.13		0.22	-0.46															0.27	0.12	0.49	0.46
average shares outstanding: basic	242,913,821	245,946	245,291,737	244,801,566	243,772,711	-3,517,709	251,640,055	260,796,757	271,725,775	-2,714,922	277,010,690	285,426,801	291,945,750	-2,120,060	303,652,802	303,793,432	303,582,578	697,922	301,577,493	299,934,621	298,753,132	-118,202	297,729,418	297,523,559	300,280,398	144,717	299,894,995	299,418,182	299,020,956	73,141,252	299,006,345	299,738,944	278,116,902	933,313	261,380,896	261,080,770	260,784,905	201,693	259,414,230	259,093,314	258,657,939	90,720	259,266,696	259,468,711	259,118,634	130,214	258,607,162	258,379,076	257,933,928	537,178	257,098,894	256,749,748	256,279,364	99,046	255,921,356	255,747,273	255,473,634																	-301,962	231,014,468	231,558,161	231,388,190
diluted	249,376,569	351,868	251,319,768	251,075,011	249,640,031	-3,214,082	256,862,595	265,549,655	275,432,461	-2,507,133	279,924,410	287,882,787	293,993,474	-2,084,736	303,652,802	303,793,432	305,424,592	759,181	303,539,358	302,328,012	299,693,514	-116,853	297,990,822	297,776,315	300,280,398	193,559	301,384,364	300,752,992	300,172,853	75,281,272.5	300,374,004	301,075,469	279,528,034	827,616	298,529,626	298,313,246	298,239,349	186,161	296,444,432	296,069,028	295,543,808	158,436	295,868,117	295,987,501	295,547,223	84,174	295,049,613	295,051,774	294,513,903	699,001	293,444,269	292,842,386	292,081,785	99,046	255,921,356	255,747,273	255,779,449	83,245	255,137,235															58,362,027.25	232,298,642	233,556,032	233,614,450
total		46,525,000	72,800,000	51,700,000	61,600,000	25,500,000	88,000,000	21,400,000	81,900,000				49,300,000	136,900,000	-27,800,000	-14,400,000	76,300,000	162,500,000	17,200,000	79,500,000	128,500,000	132,400,000	60,900,000	101,400,000	-165,100,000	70,300,000	49,500,000	39,900,000	106,200,000	24,650,000	59,800,000	48,800,000	-10,100,000	55,100,000	13,400,000	44,600,000	51,600,000	58,800,000	53,100,000	47,700,000	59,300,000	50,800,000	58,800,000	49,700,000	50,300,000	28,100,000	35,500,000	33,500,000	102,500,000	47,500,000	46,800,000	102,300,000	28,300,000	-16,200,000	-16,200,000	-24,200,000	-3,100,000	24,100,000	-66,100,000	-42,000,000	-11,900,000	-10,300,000	-21,700,000	23,300,000	6,200,000	-300,000	-65,400,000	-69,800,000	-38,800,000	-61,500,000	-25,300,000			200,000	5,800,000	52,000,000	47,800,000
income taxes
net income						105,100,000	338,900,000	91,800,000	316,700,000	190,600,000	52,600,000	155,500,000	199,800,000	512,100,000	-91,700,000	-40,100,000	306,300,000	627,000,000	88,700,000	316,400,000	502,100,000	519,700,000	246,000,000	397,700,000	-604,800,000	275,800,000	202,800,000	165,500,000	412,200,000	119,250,000	275,200,000	197,700,000	4,000,000	299,600,000	46,100,000	101,600,000	113,100,000	131,900,000	110,900,000	101,000,000	122,900,000	90,700,000	125,900,000	102,000,000	103,400,000	63,300,000	85,800,000	66,100,000	194,400,000	94,700,000	102,900,000	193,900,000	56,200,000	-20,200,000	-14,800,000	-34,000,000	400,000	55,200,000	-116,500,000	-66,300,000	-12,900,000	-13,400,000	-38,900,000	57,400,000	25,000,000	16,900,000	-46,200,000	-15,800,000	-53,900,000	-126,500,000	-48,000,000			20,300,000	29,200,000	115,100,000	107,700,000
yoy						-44.86%	544.30%	-40.96%	58.51%	-62.78%	-157.36%	-487.78%	-34.77%	-18.33%	-203.38%	-112.67%	-39.00%	20.65%	-63.94%	-20.44%	-183.02%	88.43%	21.30%	140.30%	-246.72%	131.28%	-26.31%	-16.29%	10205.00%	-60.20%	496.96%	94.59%	-96.46%	127.14%	-58.43%	0.59%	-7.97%	45.42%	-11.91%	-0.98%	18.86%	43.29%	46.74%	54.31%	-46.81%	-33.16%	-16.62%	-65.91%	245.91%	-568.81%	-795.27%	-670.29%	13950.00%	-136.59%	-87.30%	-48.72%	-103.10%	-511.94%	199.49%	-215.51%	-151.60%	-179.29%	-15.80%	-463.29%	-146.38%	-113.36%	-3.75%			-723.15%	-264.38%
qoq						-68.99%	269.17%	-71.01%	66.16%	262.36%	-66.17%	-22.17%	-60.98%	-658.45%	128.68%	-113.09%	-51.15%	606.88%	-71.97%	-36.98%	-3.39%	111.26%	-38.14%	-165.76%	-319.29%	36.00%	22.54%	-59.85%	245.66%	-56.67%	39.20%	4842.50%	-98.66%	549.89%	-54.63%	-10.17%	-14.25%	18.94%	9.80%	-17.82%	35.50%	-27.96%	23.43%	-1.35%	63.35%	-26.22%	29.80%	-66.00%	105.28%	-7.97%	-46.93%	245.02%	-378.22%	36.49%	-56.47%	-8600.00%	-99.28%	-147.38%	75.72%	413.95%	-3.73%	-65.55%	-167.77%	129.60%	47.93%	-136.58%	192.41%	-70.69%	-57.39%	163.54%				-30.48%	-74.63%	6.87%
net income margin %	0%	0%	0%	0%	0%	5.25%	14.47%	4.90%	15.71%	9.82%	2.99%	8.65%	11.36%	21.83%	-5.33%	-2.22%	13.88%	23.05%	4.41%	14.04%	21.32%	19.91%	13.06%	20.18%	-86.22%	14.30%	11.45%	10.06%	22.06%	10.06%	15.46%	12.12%	0.30%	17.36%	2.89%	6.78%	7.83%	8.52%	7.41%	7.00%	8.69%	6.13%	8.15%	7.23%	7.77%	4.60%	6.17%	4.96%	13.59%	7.11%	7.46%	13.27%	4.43%	-1.57%	-1.13%	-2.78%	0.03%	4.22%	-10.46%	-6.06%	-1.14%	-1.14%	-3.94%	5.69%	2.68%	1.60%	-4.82%	-1.73%	-6.14%	-15.13%	-5.09%	NaN%	NaN%	1.92%	2.84%	11.15%	11.06%
unrealized from changes in fair value of equity securities									-13,300,000
operating revenues:
premiums and fees:
total net investment losses										-47,775,000	-186,900,000
total realized and unrealized investment gains													26,200,000
total realized and unrealized investment
gains														-137,375,000	-377,100,000	-317,400,000	145,100,000	75,925,000	-192,600,000	120,900,000	375,400,000	-129,175,000	80,700,000	346,700,000	-944,100,000	117,175,000	63,600,000	36,900,000	368,000,000	18,150,000	135,700,000	73,300,000	-136,400,000
realized from actual transactions																	65,200,000	-8,700,000	6,600,000	1,000,000	7,800,000	1,500,000	1,400,000	-7,300,000	18,500,000			12,500,000	12,300,000	13,700,000	7,300,000		15,500,000
benefits, claims and expenses:
benefits, claims and settlement expenses																	604,400,000	568,900,000	615,400,000	615,800,000	598,000,000	601,700,000	633,200,000	617,800,000	619,700,000	657,400,000	659,500,000	629,900,000	598,500,000	451,575,000	615,100,000	601,000,000	590,100,000	532,100,000	759,000,000	608,800,000	559,200,000	582,000,000	590,700,000	587,200,000	569,800,000	618,700,000	653,400,000	604,400,000	564,800,000	649,100,000	643,000,000	651,700,000	556,100,000	557,600,000	564,800,000	521,700,000	578,800,000	686,500,000	734,200,000	713,200,000	613,400,000	680,400,000	729,500,000	684,000,000	636,600,000	656,500,000	602,400,000	502,500,000	491,600,000
investment gains:
realized from impairments																												-2,000,000
unrealized from impairments
dividends per common share:
cash																														0.146	0.195	0.195	0.195	1.19	0.19	0.19	0.19	0.188	0.188	0.188	0.188	0.185	0.185	0.185	0.185	0.183	0.183	0.183	0.183	0.18	0.18	0.18	0.18	0.178	0.178	0.178	0.178	0.175	0.175							0.128	0.17	0.17	0.17	0.125	0.17			0.118	0.16	0.16	0.15
realized from actual sale transactions																																32,000,000
unrealized from change in fair value of
impairments
realized investment gains																																																																										50,000,000	3,900,000	13,300,000	2,900,000
from sales																																		154,100,000	35,800,000	6,800,000	14,800,000	14,700,000	12,200,000	6,600,000	44,100,000	14,300,000	41,400,000		18,800,000				191,200,000	1,500,000	4,800,000	137,100,000	4,500,000	4,500,000	18,600,000	22,000,000	2,900,000	127,700,000	26,500,000	5,000,000	6,400,000	29,400,000	5,100,000	72,800,000	2,900,000	14,900,000	600,000	300,000		-30,100,000	18,300,000
from impairments																																							-4,900,000																				-42,100,000	-8,000,000			-1,200,000			-8,000,000	-1,500,000			-33,400,000	-11,500,000
total realized investment gains																																		154,100,000	35,800,000	6,800,000	14,800,000	14,700,000	7,200,000	6,600,000	44,100,000	14,300,000	41,400,000	16,600,000	18,800,000	9,500,000	21,500,000	49,900,000	191,200,000	1,500,000	4,800,000	137,100,000	4,500,000	4,200,000	18,600,000	22,000,000	2,900,000	127,500,000	-15,500,000	-2,900,000	6,400,000	29,400,000	3,800,000	72,800,000	2,900,000	6,800,000	-900,000	300,000		-63,600,000	6,700,000
underwriting, acquisition, and other incomes																																		543,275,000	751,100,000									639,700,000	595,700,000	621,700,000	617,900,000		567,800,000							556,200,000	529,200,000			500,900,000														370,100,000	381,800,000	393,300,000
realized investment gains:
from sales and fair value adjustments																																												16,600,000		65,700,000	21,500,000	49,900,000
average shares outstanding:																																																										63,740,491.25	255,137,235	254,972,652	254,769,513	4,522,940	236,697,304	236,552,439	236,387,779	93,977	235,761,056	235,562,774	235,259,226	767,864	230,735,600
diluted	249,376,569	351,868	251,319,768	251,075,011	249,640,031	-3,214,082	256,862,595	265,549,655	275,432,461	-2,507,133	279,924,410	287,882,787	293,993,474	-2,084,736	303,652,802	303,793,432	305,424,592	759,181	303,539,358	302,328,012	299,693,514	-116,853	297,990,822	297,776,315	300,280,398	193,559	301,384,364	300,752,992	300,172,853	75,281,272.5	300,374,004	301,075,469	279,528,034	827,616	298,529,626	298,313,246	298,239,349	186,161	296,444,432	296,069,028	295,543,808	158,436	295,868,117	295,987,501	295,547,223	84,174	295,049,613	295,051,774	294,513,903	699,001	293,444,269	292,842,386	292,081,785	99,046	255,921,356	255,747,273	255,779,449	83,245	255,137,235															58,362,027.25	232,298,642	233,556,032	233,614,450
consolidated statements of comprehensive income
net income as reported																																																										-48.925	-116.5	-66.3	-12.9	-13.4	-38.9	57.4	25	16.9	-46.2	-15.8
other comprehensive income:
post-tax net unrealized gains on securities																																																										9.8	30	32.2	-22.9	-108.3	128.4	-29.9	111.5	8.3	222.9	154.7
other adjustments																																																										-2.85	-15.2	-1.8	5.5	-0.6	2.7	-1.8	3.1	2.1	8.3	8.2
net adjustments																																																										6.95	14.8	30.4	-17.3	-108.8	131.2	-31.8	114.6	10.3	231.3	163
comprehensive income																																																										-41.975	-101.7	-35.8	-30.3	-122.2	92.2	25.6	139.7	27.3	185	147.1
see accompanying notes to consolidated financial statements.
net income per share
basic:																																																												-0.26	-0.05	-0.05	-0.16	0.24	0.11	0.07	-0.2	-0.07	-0.23	-0.54	-0.21
diluted:																																																												-0.26	-0.05	-0.05	-0.16	0.23	0.11	0.07	-0.2	-0.07	-0.23	-0.54	-0.21
average shares outstanding:																																																										63,740,491.25	255,137,235	254,972,652	254,769,513	4,522,940	236,697,304	236,552,439	236,387,779	93,977	235,761,056	235,562,774	235,259,226	767,864	230,735,600
diluted																																																												254,972,652	254,769,513	4,618,933	236,697,304	264,227,861	236,462,231	93,977	235,761,056	235,562,774	235,259,226	767,864	230,735,600
cash:																																																												0.175	0.175	0.173	0.173	0.173	0.173
benefits, claims, and settlement expenses																																																																		489,175,000	669,900,000	637,600,000	649,200,000	501,300,000	679,100,000			660,600,000	609,900,000	466,800,000	419,500,000
income																																																																		16,600,000	-111,700,000			-157,775,000	-73,400,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31

assets
investments:
fixed income securities	12,802,600,000	12,709,800,000	12,562,700,000	12,357,200,000	12,248,100,000	12,091,500,000	12,476,500,000	11,921,100,000	12,402,000,000		11,547,400,000	11,668,800,000	11,944,100,000		10,841,800,000	10,914,100,000	10,736,200,000
equity securities	2,527,700,000	2,487,700,000	2,710,000,000	2,567,800,000	2,592,500,000	2,540,700,000	2,668,400,000	2,462,600,000	2,549,600,000	2,660.8	2,685,600,000	3,080,200,000	3,160,700,000	3,220.9	3,045,400,000	4,182,400,000	4,972,400,000	5,302.8	4,828,000,000	5,204,100,000	4,271,300,000	4,054.8	3,682,900,000	3,560,100,000	3,214,900,000	4,030.5	3,770,600,000	3,894,600,000	3,738,900,000		3,474,300,000	3,271,400,000	3,149,700,000	3,265,500,000	3,140,200,000	3,181,100,000	3,012,200,000		2,787,400,000	2,333,400,000	2,131,600,000		1,976,200,000	1,956,100,000	2,057,500,000			1,190,000,000		911,200,000	864,900,000	873,200,000		674,900,000	627,700,000	642,900,000	495,200,000	622,200,000	666,800,000	672,400,000	619,500,000	551,600,000	631,400,000	502,900,000	473,500,000	365,900,000	271,900,000	350,300,000	484,100,000		760,900,000	714,500,000	670,700,000
short-term investments	1,044,900,000	1,613,600,000	1,452,500,000	1,215,400,000	1,036,400,000	1,403,700,000	1,317,600,000	1,605,100,000	1,338,400,000		1,146,300,000	853,300,000	863,100,000		1,371,500,000	736,900,000	739,800,000		1,102,100,000	634,100,000	637,900,000		748,100,000	795,500,000	493,900,000		487,400,000	353,700,000	351,000,000		580,700,000	516,900,000	474,900,000	670,100,000	845,400,000	586,900,000	654,100,000		707,000,000	550,600,000	650,300,000		600,700,000	654,200,000	582,800,000	1,011,000,000	1,290,100,000	1,291,500,000									1,312,200,000	1,105,000,000	1,390,200,000	1,004,000,000	917,300,000	852,000,000	783,500,000	826,700,000	994,100,000	979,500,000	1,083,200,000	888,000,000	729,100,000		464,500,000	464,900,000	560,200,000
other investments	18,200,000	27,700,000	27,800,000	28,900,000	11,500,000	42,800,000	41,400,000	34,100,000	34,400,000		33,800,000	34,300,000	34,300,000		30,300,000	31,200,000	31,800,000		30,600,000	29,300,000	29,000,000		25,200,000	25,700,000	24,700,000		23,000,000	23,200,000	32,900,000		34,600,000	3,600,000	3,600,000	3,300,000	3,300,000	3,000,000	2,900,000		3,000,000	3,000,000	3,300,000		3,600,000	3,800,000	5,100,000	5,900,000	6,100,000	5,900,000		5,400,000	5,400,000	5,300,000		9,300,000	9,500,000	10,200,000	10,400,000	10,000,000	9,700,000	9,800,000	7,100,000	7,100,000	7,300,000	7,800,000	7,500,000	7,800,000	7,800,000	7,800,000	8,200,000		8,100,000	8,100,000	8,100,000
total investments	16,393,500,000	16,839,000,000	16,753,100,000	16,169,500,000	15,888,700,000	16,079,000,000	16,504,100,000	16,023,000,000	16,324,500,000		15,413,200,000	15,636,700,000	16,002,400,000		15,289,100,000	15,864,900,000	16,480,300,000		16,447,100,000	16,348,800,000	15,354,100,000		14,662,900,000	14,240,800,000	13,244,800,000		13,975,400,000	13,888,600,000	13,605,200,000		13,211,000,000	12,872,100,000	12,828,200,000	13,318,000,000	13,330,800,000	12,940,200,000	12,894,400,000		12,631,700,000	11,879,400,000	11,657,000,000		11,135,900,000	11,133,400,000	11,248,200,000	10,793,700,000	11,166,900,000	11,063,900,000		10,715,500,000	10,616,600,000	10,769,100,000		10,442,300,000	10,260,300,000	10,520,600,000	10,429,500,000	10,436,200,000	10,665,300,000	10,259,300,000	9,751,000,000	9,586,600,000	9,798,500,000	9,688,400,000	9,676,500,000	9,211,700,000	8,885,200,000	8,682,900,000	8,539,600,000		8,566,200,000	8,188,300,000	8,223,500,000
cash	202,100,000	263,200,000	242,500,000	178,100,000	263,700,000	201,900,000	525,200,000	169,200,000	136,900,000		152,100,000	96,300,000	93,700,000		102,400,000	100,800,000	95,100,000		133,400,000	109,200,000	123,400,000		95,000,000	114,000,000	144,500,000		109,600,000	99,800,000	92,800,000		115,200,000	107,900,000	103,400,000	125,900,000	139,200,000	195,100,000	177,200,000		144,600,000	168,700,000	137,100,000		160,100,000	128,100,000	150,400,000	219,900,000	146,300,000	130,200,000		156,300,000	112,700,000	122,600,000		125,500,000	109,200,000	117,400,000	108,700,000	129,600,000	118,100,000	127,300,000	88,000,000	65,300,000	74,900,000	77,300,000	54,500,000	65,500,000	59,700,000	63,900,000	86,500,000		90,500,000	114,500,000	82,300,000
accrued investment income	129,900,000	141,100,000	126,400,000	132,000,000	122,500,000	127,900,000	123,500,000	128,500,000	127,900,000		116,500,000	108,000,000	113,100,000		100,200,000	94,100,000	88,800,000		86,100,000	85,800,000	87,100,000		88,000,000	86,900,000	90,000,000		94,600,000	93,000,000	95,800,000		93,900,000	92,000,000	94,300,000	92,400,000	96,200,000	92,700,000	95,900,000		94,100,000	90,400,000	94,400,000		92,600,000	87,200,000	91,300,000	90,800,000	86,200,000	92,000,000		92,500,000	89,300,000	94,700,000		98,000,000	94,600,000	100,900,000	104,600,000	104,500,000	108,000,000	104,100,000	105,500,000	105,400,000	112,500,000	113,300,000	113,200,000	112,600,000	107,400,000	108,200,000	107,600,000		105,600,000	104,500,000	101,400,000
accounts and notes receivable	2,783,300,000	2,782,200,000	2,962,500,000	2,974,000,000	2,654,700,000	2,471,600,000	2,640,200,000	2,626,000,000	2,304,300,000	2,201.4	2,356,300,000	2,334,400,000	2,020,300,000		2,096,900,000	2,096,000,000	1,861,800,000		1,861,400,000	1,828,700,000	1,626,600,000		1,734,000,000	1,771,900,000	1,590,300,000		1,687,500,000	1,736,100,000	1,585,000,000		1,643,000,000	1,680,200,000	1,516,100,000	1,469,700,000	1,589,800,000	1,605,600,000	1,461,200,000		1,508,600,000	1,519,100,000	1,372,200,000		1,433,400,000	1,405,200,000	1,335,700,000	1,389,900,000	1,380,000,000	1,288,000,000		1,229,600,000	1,210,400,000	1,183,900,000		1,180,200,000	1,113,700,000	1,105,300,000	1,081,700,000	1,055,500,000	1,051,600,000	1,022,900,000	778,300,000	801,200,000	794,400,000	788,600,000	962,900,000	830,600,000	817,900,000	806,700,000	838,800,000		936,100,000	847,500,000	891,500,000
reinsurance balances and funds held	403,000,000	404,500,000	388,200,000	388,800,000	373,800,000	423,100,000	479,300,000	517,200,000	537,700,000	1,380.9	547,500,000	339,900,000	344,800,000		330,000,000	351,100,000	346,400,000		234,800,000	258,200,000	233,000,000		202,200,000	207,100,000	186,200,000		176,100,000	179,300,000	170,200,000		169,000,000	158,200,000	148,800,000	141,600,000	130,600,000	124,000,000	123,600,000		129,300,000	128,100,000	126,800,000		131,100,000	151,100,000	148,600,000	162,000,000	160,600,000	179,400,000		197,100,000	199,800,000	201,800,000		226,300,000	219,000,000	218,500,000	217,400,000	220,000,000	209,500,000	205,400,000	99,100,000	102,500,000	130,700,000	141,900,000	99,500,000	96,000,000	62,000,000	67,600,000	70,900,000		71,700,000	76,300,000	74,100,000
reinsurance recoverable: paid loss and loss adjustment expenses	224,600,000	209,900,000	208,400,000	191,600,000	195,600,000	185,300,000	214,700,000	201,500,000	186,900,000
loss and loss adjustment expense reserves	6,499,500,000	6,399,100,000	6,592,200,000	6,236,000,000	5,921,800,000	5,807,100,000	5,702,200,000	5,256,700,000	4,951,700,000	12,538.2	12,811,200,000	12,404,500,000	12,136,100,000	12,221.5	12,174,700,000	11,905,400,000
unearned premium and policy reserves	1,218,600,000	1,131,100,000	1,279,400,000	1,305,600,000	1,017,200,000	921,600,000	1,085,100,000	1,126,500,000	860,700,000
deferred policy acquisition costs	659,100,000	636,200,000	611,600,000	588,500,000	555,700,000	531,300,000	505,300,000	456,500,000	435,800,000	417.8	418,700,000	407,400,000	393,300,000	382.5	386,700,000	372,600,000	358,900,000	350.4	355,300,000	346,400,000	334,900,000	328	328,800,000	319,500,000	323,300,000	325.4	333,000,000	324,700,000	319,500,000		316,600,000	312,600,000	304,200,000	297,800,000	302,100,000	295,300,000	281,800,000		277,000,000	262,400,000	260,300,000		269,500,000	250,800,000	236,700,000	227,500,000	215,800,000	204,600,000		189,200,000	175,200,000	167,800,000		176,400,000	179,600,000	190,100,000	201,700,000	231,300,000	235,100,000	230,600,000	196,000,000	200,500,000	202,000,000	206,900,000	214,000,000	216,000,000	216,600,000	222,800,000	234,300,000		253,500,000	253,700,000	253,100,000
other assets	1,081,900,000	1,055,900,000	1,064,600,000	1,086,800,000	1,033,900,000	1,080,200,000	1,025,100,000	984,200,000	1,005,500,000	1,721.2	1,046,700,000	916,700,000																		6,139,600,000								5,595,700,000				5,635,000,000							5,425,200,000				5,426,200,000																	4,366,500,000				4,381,400,000
total assets	29,596,000,000	29,862,700,000	30,252,000,000	29,255,700,000	28,028,100,000	27,843,100,000	28,843,800,000	27,525,200,000	27,064,300,000	26,501.4	26,400,500,000	25,850,300,000	25,397,900,000	25,159.4	24,947,000,000	25,295,400,000	25,118,800,000	24,981.8	24,989,900,000	24,678,400,000	23,049,300,000	22,815.2	22,248,700,000	21,650,300,000	20,352,200,000	21,076.3	21,181,800,000	20,987,700,000	20,296,900,000		19,802,300,000	19,454,200,000	18,998,800,000	19,403,500,000	19,747,400,000	19,357,100,000	18,905,400,000		18,810,600,000	17,991,200,000	17,433,300,000		17,327,800,000	17,277,000,000	17,201,300,000	16,986,800,000	17,183,900,000	16,811,000,000		16,526,400,000	16,299,300,000	16,410,700,000		16,187,500,000	15,875,200,000	16,164,800,000	15,999,100,000	16,086,900,000	16,303,600,000	15,882,700,000	13,994,800,000	13,969,600,000	14,240,900,000	14,190,000,000	14,309,100,000	13,718,600,000	13,293,500,000	13,266,000,000	13,203,800,000	13,290,600,000	13,173,100,000	12,705,500,000	12,771,900,000	12,612,200,000
liabilities and equity
liabilities:
policy liabilities:
unearned premiums	4,099,500,000	3,982,500,000	4,153,400,000	4,018,500,000	3,658,600,000	3,505,400,000	3,679,100,000	3,553,600,000	3,169,700,000		3,234,300,000	3,149,000,000	2,884,400,000		2,993,100,000	2,937,300,000	2,675,700,000		2,682,300,000	2,638,400,000	2,442,700,000		2,495,600,000	2,413,100,000	2,284,600,000		2,408,600,000	2,352,500,000	2,178,300,000		2,245,800,000	2,229,200,000	2,060,900,000	1,971,500,000	2,109,900,000	2,106,900,000	1,937,100,000		1,969,800,000	1,918,200,000	1,779,600,000		1,887,200,000	1,800,600,000	1,673,400,000	1,741,400,000	1,686,800,000	1,575,700,000		1,543,500,000	1,452,700,000	1,427,800,000		1,431,700,000	1,343,700,000	1,332,100,000	1,323,400,000	1,265,900,000	1,270,600,000	1,232,400,000	1,059,600,000	1,048,200,000	1,041,700,000	1,038,100,000	1,191,300,000	1,110,900,000	1,106,700,000	1,112,300,000	1,176,300,000		1,268,600,000	1,200,500,000	1,198,500,000
other policyholders' benefits and funds held	176,600,000	177,800,000	181,600,000	178,800,000	175,300,000	174,000,000	168,000,000	156,900,000	156,800,000
total policy liabilities	19,230,900,000	18,936,100,000	19,150,200,000	18,553,800,000	17,784,900,000	17,407,200,000	17,384,800,000	16,668,300,000	15,897,000,000		16,194,200,000	15,697,300,000
commissions, expenses, fees, and taxes	553,200,000	601,800,000	552,300,000	499,600,000	486,900,000	547,500,000	509,800,000	457,200,000	496,000,000		486,500,000	425,600,000	503,200,000		557,700,000	512,500,000	568,200,000		657,000,000	611,900,000	651,500,000		540,300,000	501,000,000	547,100,000		518,600,000	485,000,000	516,800,000		510,800,000	493,300,000	504,200,000	547,700,000	464,100,000	449,700,000	470,200,000		454,500,000	435,600,000	446,700,000		447,900,000	425,600,000	452,000,000	365,600,000	347,800,000	376,900,000		433,400,000	504,200,000	505,800,000		468,200,000	434,000,000	458,900,000	385,800,000	395,000,000	399,900,000	424,000,000	278,000,000	266,100,000	267,800,000	266,300,000	261,200,000	249,600,000	250,900,000	264,500,000	213,700,000
federal income tax: deferred	210,600,000	219,300,000	226,400,000	191,000,000	174,500,000	129,100,000	214,000,000	88,300,000	93,800,000			47,300,000	77,400,000
debt	1,590,200,000	1,589,900,000	1,589,600,000	1,589,300,000	1,589,000,000	1,588,700,000	1,988,400,000	1,987,900,000	1,987,600,000	1,591.2	1,590,900,000	1,590,500,000	1,590,200,000	1,597	1,596,600,000	1,594,500,000	1,594,200,000	1,588.5	1,588,200,000	1,590,100,000	947,200,000	966.4	966,200,000	968,100,000	967,800,000	974	973,700,000	975,400,000	975,100,000	981,400,000	981,100,000	974,400,000	974,100,000	1,448,700,000	1,526,900,000	1,526,100,000	1,525,500,000	1,528,700,000	1,528,000,000	982,900,000	982,300,000	961,700,000	961,700,000	961,700,000	961,700,000	965,000,000	566,200,000	566,200,000	569,200,000	569,200,000	570,000,000	570,000,000	572,900,000	573,000,000	573,800,000	910,100,000	912,800,000	923,100,000	1,021,500,000	475,000,000	346,400,000	346,800,000	347,200,000	346,700,000	372,200,000	372,200,000	221,100,000	233,000,000	124,100,000	64,100,000	93,800,000	23,800,000	138,800,000	144,300,000
other liabilities	644,600,000	1,158,700,000	589,300,000	580,200,000	557,700,000	1,141,600,000	697,800,000	626,600,000	636,800,000	1,281.4	745,100,000	627,000,000
total liabilities	23,670,500,000	23,934,200,000	23,812,700,000	23,052,100,000	22,084,500,000	22,224,100,000	22,398,400,000	21,498,600,000	20,663,300,000	20,090.7	20,484,800,000	19,730,500,000	19,065,900,000	18,993.2	19,268,900,000	18,902,200,000	18,368,600,000	18,088.6	18,660,500,000	17,899,800,000	16,597,400,000	16,628.5	16,174,000,000	15,791,300,000	15,209,300,000	15,076.1	15,387,900,000	15,093,700,000	14,631,300,000		14,491,100,000	14,350,800,000	13,950,200,000	14,670,200,000	15,017,300,000	14,695,300,000	14,308,800,000		14,364,400,000	13,613,100,000	13,290,600,000		13,473,900,000	13,339,500,000	13,187,000,000	13,063,800,000	13,230,800,000	12,945,200,000		12,810,300,000	12,714,700,000	12,737,300,000		12,497,300,000	12,162,800,000	12,391,500,000	12,171,100,000	12,114,500,000	12,253,500,000	11,761,300,000	9,957,100,000	9,985,800,000	10,245,000,000	10,298,600,000	10,407,700,000	9,965,400,000	9,650,200,000	9,525,700,000	9,289,500,000	8,749,000,000	8,609,100,000	8,187,800,000	8,300,000,000	8,243,000,000
equity:
shareholders' equity:
preferred stock
common stock	242,800,000	246,300,000	247,400,000	248,400,000	248,400,000	248,800,000	253,500,000	258,400,000	271,800,000		280,300,000	284,600,000	292,700,000		304,300,000	308,900,000	308,300,000		307,000,000	305,700,000	304,700,000		304,000,000	304,000,000	303,900,000		303,500,000	303,200,000	302,900,000		302,600,000	302,400,000	302,100,000	269,200,000	263,800,000	263,600,000	263,500,000		262,600,000	262,400,000	262,100,000		261,400,000	261,300,000	261,100,000	260,800,000	260,800,000	260,500,000		259,900,000	259,800,000	259,500,000		259,400,000	259,400,000	259,400,000	259,300,000	259,200,000	259,200,000	259,200,000	241,000,000	241,000,000	241,000,000	240,600,000	240,600,000	240,500,000	240,500,000	240,500,000	230,700,000		231,900,000	231,500,000	231,300,000
additional paid-in capital		23,300,000	23,300,000	32,100,000				105,100,000	500,700,000		726,500,000	831,800,000	1,033,500,000		1,299,700,000	1,395,900,000	1,391,300,000		1,363,800,000	1,337,600,000	1,318,900,000		1,305,600,000	1,305,100,000	1,304,200,000		1,295,200,000	1,288,600,000	1,284,100,000		1,275,600,000	1,272,200,000	1,267,900,000	815,200,000	735,700,000	732,000,000	728,400,000		710,400,000	706,200,000	702,300,000		689,500,000	686,600,000	686,000,000	679,700,000	677,500,000	674,500,000									654,200,000	653,500,000	651,900,000	649,600,000	419,400,000	418,100,000	416,200,000	412,400,000	410,700,000	408,800,000	407,200,000	405,000,000	329,700,000		341,600,000	334,300,000	330,300,000
retained earnings	5,652,400,000	5,515,200,000	6,037,900,000	5,853,800,000	5,721,200,000	5,519,700,000	6,135,400,000	5,912,300,000	5,889,300,000		5,520,900,000	5,536,100,000	5,450,300,000		4,874,900,000	5,341,000,000	5,450,800,000		4,653,300,000	5,082,100,000	4,831,400,000		4,234,900,000	4,051,200,000	3,715,800,000		4,170,100,000	4,326,700,000	4,220,800,000		4,014,600,000	3,797,700,000	3,658,100,000	3,206,900,000	3,323,100,000	3,326,500,000	3,274,300,000		3,127,200,000	3,064,800,000	3,012,100,000		2,894,400,000	2,816,400,000	2,762,300,000	2,690,500,000	2,651,800,000	2,632,800,000		2,436,900,000	2,380,200,000	2,232,400,000		2,287,900,000	2,348,200,000	2,427,600,000	2,461,800,000	2,623,000,000	2,733,900,000	2,791,400,000	2,848,700,000	2,928,500,000	2,911,800,000	2,927,300,000	2,950,500,000	3,036,800,000	3,092,700,000	3,186,500,000	3,353,000,000		3,917,500,000	3,925,100,000	3,847,000,000
accumulated other comprehensive income	47,500,000	163,100,000	151,500,000	91,700,000	10,800,000		106,200,000					-468,900,000	-377,900,000		-728,000,000	-576,000,000	-320,700,000		93,200,000	150,400,000	96,900,000		336,100,000	307,500,000	-69,200,000		92,000,000	44,800,000	-70,600,000		-217,700,000	-202,600,000	-148,900,000	474,200,000	441,400,000	375,300,000	367,800,000		386,800,000	387,000,000	210,200,000		55,800,000	187,900,000	320,800,000	310,700,000	383,300,000	319,500,000		376,500,000	306,500,000	548,300,000		511,700,000	475,500,000	458,700,000	487,000,000	472,200,000	441,700,000	459,100,000	567,700,000	436,500,000	468,300,000	353,700,000	343,300,000	112,000,000	-51,000,000	-41,700,000	700,000		101,100,000	26,500,000	63,000,000
unallocated 401	-30,800,000	-34,100,000	-37,300,000	-40,600,000	-43,800,000	-47,100,000	-49,900,000	-52,600,000	-55,500,000		-61,100,000	-63,900,000	-66,700,000
treasury stock					-19,000,000																																																																		-28,300,000
total shareholders' equity	5,911,900,000	5,914,000,000	6,422,800,000	6,185,600,000	5,917,500,000
noncontrolling interests	13,400,000	14,400,000	16,300,000	17,900,000	26,000,000
total equity	5,925,400,000	5,928,400,000	6,439,200,000	6,203,500,000	5,943,500,000
total liabilities and equity	29,596,000,000	29,862,700,000	30,252,000,000	29,255,700,000	28,028,100,000
federal income tax recoverable: current			22,600,000	4,300,000		13,800,000	38,400,000	35,400,000			17,000,000	22,800,000				19,600,000		11.8		18,200,000				15,800,000		5.7	500,000									27,300,000			27,200,000	34,300,000				16,600,000		32,100,000	77,700,000	9,200,000		69,300,000	57,300,000	54,600,000		77,300,000	80,400,000	77,500,000					7,800,000	11,900,000	400,000	7,300,000	9,700,000	16,800,000	18,100,000	41,000,000	9,500,000			15,200,000
federal income tax payable: current					28,500,000				45,000,000				32,300,000		2,000,000		46,100,000		1,200,000		36,900,000	4.2	9,400,000		27,900,000			300,000	22,400,000		3,700,000	8,000,000	27,200,000	6,500,000	25,200,000		42,100,000				28,600,000		7,200,000		18,700,000																										9,700,000		31,900,000
assets held-for-sale									191,800,000
liabilities, preferred stock, and common shareholders' equity
liabilities held-for-sale									53,800,000
common shareholders' equity:
accumulated other comprehensive loss						-102,400,000		-196,600,000	-205,400,000		-551,100,000
total common shareholders' equity						5,618,900,000	6,445,300,000	6,026,600,000	6,400,900,000		5,915,600,000	6,119,800,000	6,331,900,000		5,678,100,000	6,393,100,000	6,750,100,000		6,329,400,000	6,778,600,000	6,451,800,000		6,074,600,000	5,858,900,000	5,142,900,000		5,793,900,000	5,893,900,000	5,665,600,000		5,311,200,000	5,103,400,000	5,048,600,000	4,733,300,000	4,730,000,000	4,661,800,000	4,596,600,000		4,446,100,000	4,378,000,000	4,142,600,000		3,853,800,000	3,937,400,000	4,014,200,000	3,922,900,000	3,953,100,000	3,865,800,000		3,716,000,000	3,584,500,000	3,673,300,000		3,690,100,000	3,712,300,000	3,773,300,000	3,827,900,000	3,972,400,000	4,050,100,000	4,121,400,000	4,037,700,000	3,983,800,000	3,995,800,000	3,891,400,000	3,901,300,000	3,753,100,000	3,643,200,000	3,740,300,000	3,914,300,000
total liabilities, preferred stock and common shareholders' equity						27,843,100,000			27,064,300,000		26,400,500,000	25,850,300,000	25,397,900,000		24,947,000,000	25,295,400,000	25,118,800,000		24,989,900,000	24,678,400,000	23,049,300,000		22,248,700,000	21,650,300,000	20,352,200,000		21,181,800,000	20,987,700,000	20,296,900,000		19,802,300,000	19,454,200,000	18,998,800,000	19,403,500,000	19,747,400,000	19,357,100,000	18,905,400,000		18,810,600,000	17,991,200,000	17,433,300,000		17,327,800,000	17,277,000,000	17,201,300,000	16,986,800,000	17,183,900,000	16,811,000,000		16,526,400,000	16,299,300,000	16,410,700,000		16,187,500,000	15,875,200,000	16,164,800,000	15,999,100,000	16,086,900,000
total liabilities, preferred stock, and common shareholders' equity							28,843,800,000	27,525,200,000
assets:
cash and fixed income securities										13,375.4				12,688.7
other										151.3
total investments, cash and accrued investment income										16,187.6
federal income tax assets										21.8
reinsurance recoverable										5,951.4
liabilities and shareholders' equity:
policy liabilities										3,193.1				2,978.8				2,752				2,593.1				2,419.2
federal income tax liabilities										105.6
shareholders' equity										6,410.7				6,166.2				6,893.2				6,186.6				6,000.1
total liabilities and shareholders' equity										26,501.4				25,159.4				24,981.8				22,815.2				21,076.3
deferred											8,700,000				127,400,000		157,200,000	249.5	151,500,000	211,100,000	165,000,000	137.3			130,100,000			147,000,000	108,800,000		54,700,000	33,700,000	33,400,000	100,500,000	71,400,000						56,200,000		159,000,000	83,500,000	16,800,000	50,700,000	43,500,000	78,300,000		95,700,000	133,100,000	78,500,000		109,500,000	109,800,000	99,800,000	119,600,000	97,500,000	74,800,000	45,300,000											462,700,000		477,800,000
reinsurance recoverable: paid losses											140,400,000	134,700,000	126,000,000		136,800,000	140,000,000	114,300,000		75,100,000	86,800,000	69,800,000		81,000,000	70,600,000	76,000,000		74,600,000	78,400,000	78,700,000		58,900,000	71,700,000	70,900,000	60,500,000	58,400,000	63,000,000	66,100,000		93,800,000	65,900,000	72,000,000		67,300,000	68,000,000	55,000,000	64,900,000	77,600,000	69,300,000		107,700,000	113,500,000	110,900,000		120,700,000	118,400,000	133,000,000															68,300,000	59,500,000	71,800,000
policy and loss reserves											6,182,900,000	5,852,900,000	5,407,300,000		5,542,800,000	5,411,000,000
other policyholders' benefits and funds											148,700,000	143,800,000	181,900,000		189,500,000	192,400,000	193,900,000		202,400,000	199,500,000	198,500,000		194,300,000	194,200,000	195,300,000		193,300,000	195,200,000	198,800,000		204,600,000	203,700,000	206,500,000	204,700,000	198,700,000	194,700,000	193,900,000		192,100,000	194,400,000	198,100,000		198,000,000	200,900,000	203,900,000	201,300,000	202,600,000	207,100,000		201,000,000	197,200,000	200,800,000		193,300,000	189,900,000	285,000,000	189,100,000	187,200,000	191,800,000	192,400,000	181,900,000	181,600,000	185,800,000	185,200,000	180,300,000	180,500,000	182,100,000	180,700,000	183,700,000
reinsurance balances and funds											1,467,900,000	1,342,500,000	1,107,400,000	1,079.4	1,154,300,000	1,177,300,000	1,002,100,000	866	942,400,000	966,500,000	793,500,000	725.4	852,100,000	898,100,000	727,900,000	616	759,900,000	814,300,000	670,600,000		703,200,000	745,300,000	605,000,000	566,900,000	603,500,000	656,800,000	571,300,000		641,400,000	642,400,000	535,100,000		569,600,000	578,100,000	514,300,000	542,100,000	561,800,000	508,000,000		500,800,000	486,000,000	473,400,000		452,400,000	427,900,000	415,900,000	411,200,000	405,700,000	380,500,000	383,800,000	276,500,000	275,400,000	335,800,000	321,300,000	363,700,000	302,900,000	281,800,000	264,800,000	293,500,000		313,300,000	255,400,000	308,100,000
available for sale:
total													12,807,300,000		12,213,300,000	11,651,100,000	11,476,100,000		11,588,400,000	11,115,400,000	11,053,800,000		10,954,800,000	10,655,000,000	8,989,400,000		9,154,200,000	8,937,300,000	8,794,300,000		8,651,400,000	8,540,800,000	8,612,900,000	12,247,200,000	12,254,300,000	11,865,500,000	11,834,400,000		11,880,100,000	11,247,200,000	11,142,300,000		10,936,500,000	11,067,100,000	11,243,100,000			11,058,000,000		10,710,100,000	10,611,100,000	10,763,800,000		10,433,000,000	10,250,800,000	10,510,400,000	10,419,100,000	10,426,200,000	10,655,500,000	10,249,400,000	9,743,800,000	9,579,500,000	9,791,200,000	9,680,500,000	9,669,000,000	9,203,800,000	8,877,300,000	8,675,000,000	8,531,300,000		8,558,100,000	8,180,200,000	8,215,400,000
other assets:
sundry assets													896,600,000	1,197.9	834,200,000	844,800,000	820,200,000	1,088.4	816,700,000	803,500,000	812,600,000	995	777,600,000	763,200,000	758,600,000	927	742,400,000	737,600,000	716,600,000		482,600,000	460,900,000	464,700,000	458,800,000	456,200,000	454,300,000	453,400,000		471,000,000	472,100,000	473,900,000		476,000,000	473,800,000	469,500,000	472,600,000	458,300,000	454,100,000		449,700,000	446,800,000	451,600,000		461,400,000	459,400,000	464,400,000	468,500,000	475,300,000	475,500,000	465,300,000	386,900,000	382,100,000	384,000,000	369,300,000	351,900,000	350,900,000	341,700,000	343,800,000	351,400,000		345,600,000	347,300,000	342,800,000
total other assets													9,395,400,000		9,657,900,000	9,430,500,000	8,638,400,000		8,542,800,000	8,329,500,000	7,695,100,000		7,585,700,000	7,409,400,000	7,107,300,000		7,206,300,000	7,099,000,000	6,691,600,000		6,591,300,000	6,582,100,000	6,170,600,000	6,085,500,000	6,416,500,000	6,416,800,000	6,011,000,000		6,178,800,000	6,111,700,000	5,776,200,000		6,191,900,000	6,143,600,000	5,953,000,000	6,193,100,000	6,017,000,000	5,747,000,000		5,810,800,000	5,682,600,000	5,641,500,000		5,745,100,000	5,614,900,000	5,644,200,000
total policy liabilities and accruals													15,202,500,000		15,357,300,000	15,035,200,000	14,438,800,000		14,318,500,000	14,013,200,000	13,494,600,000		13,247,100,000	12,838,300,000	12,475,800,000		12,419,400,000	12,184,100,000	11,865,600,000		11,933,400,000	11,825,500,000	11,540,000,000	11,413,900,000	12,003,100,000	11,688,300,000	11,362,400,000		11,409,000,000	11,239,300,000	11,045,300,000		11,244,500,000	11,133,100,000	11,010,100,000	10,977,700,000	11,538,400,000	11,280,800,000		11,103,000,000	10,955,700,000	10,982,200,000		10,783,600,000	10,499,700,000	10,342,400,000	10,180,700,000	10,133,800,000	10,184,500,000	10,239,500,000	8,707,500,000	8,817,700,000	9,002,300,000	9,138,400,000	9,178,200,000	8,869,000,000	8,719,400,000	8,534,300,000	8,385,600,000		7,366,700,000	7,086,900,000	6,980,000,000
sundry liabilities													552,600,000	1,075.3	600,700,000	565,300,000	561,800,000	1,206.9	1,001,400,000	506,800,000	508,600,000	1,530.8	492,500,000	542,000,000	462,500,000	1,025.1	544,600,000	487,300,000	471,600,000		303,900,000	270,300,000	265,900,000	585,800,000	322,800,000	294,800,000	272,100,000		279,000,000	264,100,000	252,200,000		242,800,000	240,900,000	230,000,000	213,200,000	216,400,000	213,100,000		203,700,000	198,500,000	205,700,000		219,900,000	227,300,000	264,000,000	280,400,000	256,800,000	267,000,000	238,800,000	193,200,000	169,000,000	188,800,000	178,000,000	177,300,000	160,700,000	152,700,000	151,500,000	153,600,000		129,700,000	135,900,000	141,100,000
other invested assets														138				116.5				115.3				115.4
cash and invested assets														16,047.7				16,818.9				15,535.3				14,527.4				13,187,400,000								12,995,800,000				11,475,500,000							11,109,100,000				10,800,600,000																	8,924,000,000				8,230,800,000
accounts and premiums receivable														1,927.5				1,768.7				1,593.9				1,466.7
federal income tax recoverable														15.7
reinsurance balances recoverable														5,588				4,943.4				4,362.8				3,823.9
federal income tax - deferred														40.9
unallocated essop shares															-72,700,000	-76,600,000	-79,600,000		-87,900,000	-97,300,000	-100,300,000		-106,100,000	-109,000,000	-111,900,000		-67,100,000	-69,400,000	-71,700,000		-64,000,000	-66,400,000	-30,600,000	-32,400,000	-34,100,000	-35,800,000	-37,500,000		-40,900,000	-42,500,000	-44,200,000		-47,400,000	-14,800,000	-16,200,000	-18,900,000	-20,300,000	-21,600,000		-24,300,000	-25,600,000	-26,900,000		-29,400,000	-30,700,000	-31,900,000	-34,400,000	-35,600,000	-36,800,000	-38,000,000	-39,200,000	-40,300,000	-41,500,000	-42,700,000	-43,800,000	-45,000,000	-46,100,000	-50,000,000
federal income tax payable: deferred																17,200,000							66,400,000	43,700,000		112.2	171,300,000									79,400,000			52,300,000	48,600,000																					155,200,000	110,600,000	102,800,000	47,500,000	54,900,000	10,800,000	24,000,000	77,300,000	118,700,000			465,500,000
policy and claim reserves																	4,952,600,000		4,979,600,000	4,792,200,000	4,407,400,000		4,278,800,000	4,060,100,000	3,808,000,000		3,849,100,000	3,719,800,000	3,477,300,000		3,578,300,000	3,558,500,000	3,330,900,000	3,311,300,000	3,510,400,000	3,423,500,000	3,214,500,000		3,329,700,000	3,262,300,000	3,081,300,000		3,319,700,000	3,391,200,000	3,375,000,000	3,421,200,000	3,317,600,000	3,201,000,000		3,201,700,000	3,127,800,000	3,162,200,000		3,148,900,000	3,116,000,000	3,121,000,000	3,107,600,000	3,124,600,000	3,145,700,000	3,166,400,000	2,388,800,000	2,506,400,000	2,519,900,000	2,491,200,000	2,518,900,000	2,516,600,000	2,485,700,000	2,395,700,000	2,372,500,000		2,181,600,000	2,143,400,000	2,169,600,000
losses, claims, and settlement expenses																	11,569,100,000		11,433,700,000	11,175,200,000	10,853,300,000		10,557,100,000	10,230,900,000	9,995,900,000		9,817,400,000	9,636,300,000	9,488,400,000		9,482,900,000	9,392,500,000	9,272,400,000	9,237,600,000	9,694,400,000	9,386,600,000	9,231,300,000		9,247,000,000	9,126,600,000	9,067,500,000		9,159,200,000	9,131,600,000	9,132,800,000	9,034,900,000	9,648,800,000	9,498,000,000		9,358,400,000	9,305,700,000	9,353,400,000		9,158,600,000	8,966,100,000	8,725,100,000	8,668,000,000	8,680,700,000	8,722,000,000	8,814,600,000	7,465,800,000	7,587,700,000	7,774,800,000	7,915,000,000	7,806,500,000	7,577,500,000	7,430,600,000	7,241,300,000	7,025,600,000
commitments and contingent liabilities
cash and fixed maturity securities																		11,399.6				11,365.1				10,381.5
claim reserves																		11,425.5				10,671				9,929.5
fixed maturity securities																			10,486,300,000	10,481,200,000	10,415,900,000		10,206,600,000	9,859,400,000	8,495,400,000		8,666,700,000	8,583,600,000	8,443,200,000		8,070,700,000	7,994,600,000	8,107,800,000	8,282,300,000	8,239,400,000	8,070,300,000	8,135,800,000		8,354,700,000	8,335,500,000	8,333,200,000		8,333,100,000	8,431,500,000	8,577,600,000			8,554,600,000		8,630,700,000	8,635,200,000	8,672,300,000		8,408,500,000	8,387,100,000	8,405,000,000	8,575,200,000	8,664,400,000	8,563,700,000	8,532,200,000	8,185,500,000	8,152,200,000	8,352,200,000	8,326,800,000	8,177,500,000	7,834,500,000	7,496,400,000	7,406,900,000	7,285,600,000		7,274,000,000	6,944,500,000	6,927,800,000
held to maturity:
prepaid federal income taxes																											138,500,000	129,800,000	129,800,000		114,300,000	114,300,000	114,300,000	114,300,000	114,300,000	114,300,000	114,300,000		82,400,000	82,400,000	82,400,000		63,300,000	63,300,000	53,500,000	38,700,000	30,900,000	20,100,000							1,000,000	1,000,000	1,000,000	63,500,000	63,500,000	102,900,000	102,900,000	105,300,000	136,000,000	221,400,000	221,400,000	221,400,000	221,400,000	463,400,000	501,300,000		536,500,000	536,500,000	536,500,000
securities and indebtedness of related parties																													25,300,000		19,100,000	25,500,000	22,400,000	12,800,000	18,800,000	21,500,000	22,700,000		20,600,000	25,400,000	19,100,000		19,500,000	24,300,000	20,100,000	22,200,000	21,900,000	20,200,000		21,600,000	16,300,000	12,600,000		20,400,000	13,100,000	14,800,000	12,100,000	10,400,000	14,700,000	12,000,000	11,100,000	14,800,000	11,200,000	17,100,000	23,800,000	18,300,000	16,300,000	17,400,000	29,100,000		17,000,000	18,200,000	24,700,000
financial position:
liabilities, other than debt																														13,199,400,000								12,591,100,000				12,267,800,000							12,190,100,000				12,057,600,000																	8,684,900,000				8,098,600,000
common shareholders' equity																														5,146,200,000								4,471,600,000				3,880,800,000							3,775,000,000				3,596,200,000																	4,541,600,000				4,369,200,000
total capitalization																														6,127,600,000								6,000,400,000				4,842,600,000							4,344,300,000				4,169,100,000																	4,605,700,000				4,513,500,000
years ended december 31:																														2,018,000,000								2,016,000,000				2,015,000,000							2,013,000,000				2,012,000,000
results of operations:
net premiums and fees earned																														5,703,900,000								5,333,200,000				5,179,400,000							4,885,600,000				4,471,000,000
net investment and other income																														553,500,000								494,300,000				495,400,000							408,900,000				451,100,000
investment gains																														-235,600,000
benefits, claims, and
settlement expenses																														2,460,700,000								2,347,900,000				2,459,300,000							2,238,300,000				2,765,300,000
underwriting and other incomes																														3,122,900,000								2,866,500,000				2,675,000,000							2,531,300,000				2,333,300,000
income taxes																														67,500,000								219,000,000				209,600,000							225,000,000				-59,800,000
common share data:
net income:
dividends: cash																														780,000								750,000				740,000							720,000				710,000
book value																														17,230,000								17,200,000				15,020,000							14,640,000				14,030,000
common shares
miscellaneous investments																																29,200,000	30,000,000	29,100,000	29,100,000	27,000,000	32,200,000		30,800,000	27,500,000	27,000,000		26,400,000	25,100,000	25,100,000	24,300,000	22,000,000	21,900,000		18,600,000	18,400,000	18,300,000		29,200,000	27,300,000	27,000,000	36,400,000	34,500,000	34,600,000	40,700,000	21,400,000	23,500,000	23,900,000	24,000,000	23,800,000	23,700,000	25,700,000	29,700,000	32,400,000		58,500,000	56,100,000	56,500,000
: deferred																																					64,800,000
realized investment gains																																						72,800,000				91,300,000							148,100,000				47,800,000
fixed maturity securities, at fair value																																														8,286,800,000	8,424,500,000
equity securities, at fair value																																														1,437,300,000	1,390,200,000
total available for sale																																														10,759,500,000	11,127,000,000
trading equity portfolio at fair value																																														28,200,000	33,800,000
short‑term investments																																																		1,149,500,000	1,092,400,000	1,199,800,000		1,320,300,000	1,208,500,000	1,435,300,000
additional paid‑in capital																																																		666,800,000	663,500,000	659,800,000		660,500,000	659,900,000	659,400,000
federal income tax recoverable:																																																									56,900,000	31,700,000	40,500,000	44,600,000
reinsurance recoverable:																																																									89,400,000	106,200,000	100,900,000	96,000,000	79,000,000	87,100,000	75,900,000	66,700,000	62,100,000	61,700,000	60,900,000	52,200,000	61,800,000
at september 30, 2011 and december 31, 2010, there were 75,000,000 shares of 0.01 par value preferred stock authorized, of which no shares were outstanding. as of the same dates, there were 500,000,000 shares of common stock, 1.00 par value, authorized, of which 259,304,985 at september 30, 2011 and 259,222,360 at december 31, 2010 were issued. at september 30, 2011 and december 31, 2010, there were 100,000,000 shares of class b common stock, 1.00 par value, authorized, of which no shares were issued. there were no common shares classified as treasury stock as of september 30, 2011 and december 31, 2010.
see accompanying notes to consolidated financial statements.
liabilities, preferred stock, and common shareholders’ equity
common shareholders’ equity:
total liabilities, preferred stock and common shareholders’ equity																																																											16,303,600,000	15,882,700,000	13,994,800,000	13,969,600,000	14,240,900,000	14,190,000,000	14,309,100,000	13,718,600,000	13,293,500,000	13,266,000,000	13,203,800,000
preferred stock:
convertible preferred stock
total liabilities and shareholders’ equity																																																																						13,290,600,000				12,612,200,000
losses, claims and settlement expenses																																																																							5,908,400,000	5,698,000,000	5,593,200,000
other policyholders’ benefits and funds																																																																							189,600,000	188,300,000	188,300,000
commissions, expenses, fees and taxes																																																																							232,700,000	220,100,000	221,900,000
common shareholders’ equity
total common shareholders’ equity																																																																							4,563,900,000	4,517,600,000	4,471,800,000
total liabilities, preferred stock, and common shareholders’ equity																																																																							13,173,100,000	12,705,500,000	12,771,900,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-09-30	2019-06-30	2019-03-31	2018-09-30	2018-06-30	2018-03-31	2017-09-30	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2007-09-30	2007-06-30	2007-03-31

cash flows from operating activities:
total net income	280,200,000
adjustments to reconcile net income to
net cash from operating activities:
deferred policy acquisition costs	-23,000,000																-11,500,000	-6,800,000	800,000	-9,200,000	3,900,000	2,000,000	-8,200,000	-5,100,000	-3,200,000	-3,900,000	-8,400,000	-6,400,000	-6,700,000	-13,400,000	-7,600,000	-14,500,000	-2,100,000	-4,600,000	-18,900,000	-14,000,000	-5,200,000	-12,000,000	-10,800,000	-12,200,000	-13,900,000	-7,600,000	-2,500,000	3,600,000	10,200,000	7,800,000	-4,000,000	4,800,000	1,300,000	5,300,000	7,500,000	2,800,000	1,600,000	6,100,000		1,200,000	700,000	11,800,000
accounts and notes receivable	11,500,000
loss and loss adjustment expense reserves	102,400,000
unearned premiums and other policyholders' liabilities	163,400,000																30,600,000	15,500,000	-11,400,000	69,700,000	-24,400,000	700,000	47,700,000	21,200,000	12,100,000	32,900,000	29,800,000	41,100,000	46,200,000	67,500,000	50,500,000	60,000,000	18,800,000	8,300,000	60,800,000	46,300,000	10,400,000	25,400,000	38,400,000	56,700,000	44,700,000	17,700,000	39,400,000	33,600,000	-97,600,000	129,100,000
federal income taxes	300,000
reinsurance balances and funds held	50,600,000
realized investment gains from actual transactions and impairments	6,000,000
unrealized investment gains from changes in fair value
of equity securities	-110,700,000																-119,900,000	-367,500,000	-373,200,000	-79,300,000	-354,000,000	962,700,000	-57,300,000	-26,400,000	-355,600,000	-128,300,000	-41,400,000	152,000,000
other - net	83,500,000											-100,000	-4,900,000				2,600,000	2,200,000	1,700,000	2,200,000	1,700,000	3,200,000	2,400,000	22,800,000	3,000,000	5,100,000	3,500,000	4,700,000	6,000,000	14,300,000	6,800,000	7,100,000	3,000,000	4,500,000	7,100,000	5,700,000	4,400,000	4,200,000	3,000,000	4,300,000	3,000,000	3,900,000	19,400,000	5,400,000	6,100,000	12,400,000	13,200,000	500,000								1,600,000
total	563,900,000																219,400,000	296,000,000	376,100,000	370,600,000	222,000,000	216,300,000	352,800,000	177,200,000	136,200,000	309,800,000	156,500,000	130,800,000	263,100,000	112,900,000	146,100,000	238,100,000	37,900,000	125,900,000	262,800,000	112,900,000	190,800,000	-542,300,000	36,900,000	135,400,000	180,700,000	135,100,000	143,200,000	192,000,000	81,300,000	49,000,000	-52,100,000	38,400,000	-192,000,000	-19,300,000	94,900,000	157,600,000	17,100,000	263,300,000		237,900,000	207,700,000	197,100,000
cash flows from investing activities:
maturities and calls of fixed income securities	325,700,000
sales of:
fixed income securities	184,100,000
equity securities	14,600,000																2,000,000	195,700,000	3,200,000	7,500,000	11,100,000	140,500,000	311,900,000	24,500,000	184,200,000	15,900,000	197,400,000	81,200,000	193,000,000	200,000	40,300,000	91,500,000	30,400,000	252,700,000	173,800,000	55,600,000	34,900,000	136,800,000	240,500,000	179,700,000	11,200,000			70,600,000	0	500,000		800,000	107,600,000	-1,000,000						3,100,000	66,800,000	3,400,000
other investments	300,000																																																	1,000,000								600,000
purchases of:
proceeds from sale of subsidiaries
net increase in short-term investments	-239,500,000
cash flows from financing activities:
issuance of debentures and notes																																544,400,000	0	32,400,000													537,100,000	25,000,000	120,000,000	70,000,000	0	26,700,000	489,500,000	60,000,000		81,000,000
issuance of common shares	400,000																17,900,000	9,600,000	700,000	400,000	600,000	5,000,000	5,800,000	3,700,000	3,200,000	2,500,000	3,500,000	6,200,000	1,600,000	1,300,000	11,100,000	1,900,000	3,200,000	1,800,000	1,500,000	2,200,000	1,900,000	800,000	3,200,000	1,000,000	2,300,000	3,300,000	500,000	200,000	200,000	300,000	500,000	200,000	400,000	2,300,000	300,000	500,000	300,000	300,000		5,900,000	2,700,000	5,400,000
dividends on common shares	-70,900,000	-572,600,000	-68,300,000	-699,400,000	2,000,000	2,800,000	-71,700,000	-208,400,000	1,900,000	1,600,000	-71,300,000	-206,400,000	-304,700,000	-200,000	-69,400,000						-62,400,000	-62,900,000				-58,200,000	-58,200,000	-324,100,000	-49,500,000	-49,500,000	-49,300,000	-48,600,000	-48,400,000	-48,300,000	-48,000,000	-47,900,000	-47,800,000	-47,100,000	-47,200,000	-46,900,000	-46,200,000	-46,200,000	-46,000,000	-45,400,000	-45,400,000	-45,200,000	-44,500,000	-40,700,000	-40,800,000	-40,600,000	-40,100,000	-40,000,000	-40,000,000	-39,900,000		-36,800,000	-37,000,000	-34,700,000
repurchase of common stock	-43,300,000
increase in cash including balances classified as
held-for-sale:	64,300,000
increase in cash balances classified as held-for-sale
cash, beginning of period	0																0	118,700,000		0	0	78,800,000	0	0	100,300,000	0	0	125,900,000	0	0	145,700,000	0	0	159,800,000	0	0	136,700,000	0	0	153,300,000	0	0	101,200,000	0	0	93,000,000	127,300,000	0	0	77,300,000		0	0	63,900,000		0	0	71,600,000
cash, end of period	64,400,000																-14,200,000	123,400,000		-19,000,000	-30,500,000	144,500,000	9,800,000	7,000,000	92,800,000	7,300,000	4,500,000	103,400,000	-55,900,000	17,900,000	177,200,000	-24,100,000	31,600,000	137,100,000	32,000,000	-22,300,000	150,400,000	73,600,000	16,100,000	130,200,000	43,600,000	-9,900,000	122,600,000	16,300,000	-8,200,000	117,400,000	118,100,000	22,700,000	-9,600,000	74,900,000		-11,000,000	5,800,000	59,700,000		-24,000,000	32,200,000	82,300,000
supplemental cash flow information:
cash paid during the period for: interest	22,200,000																0	20,400,000				20,600,000				20,700,000				300,000	30,900,000	20,300,000											10,400,000													900,000	4,400,000	300,000
income taxes	73,000,000																-22,100,000	111,100,000	81,400,000	41,100,000	30,700,000	-171,500,000	10,000,000	-13,900,000	101,000,000	21,500,000	-5,700,000	-15,000,000	13,500,000	-58,100,000	56,500,000	10,700,000	-54,200,000	57,200,000	14,500,000	-32,000,000	48,900,000	74,600,000	-66,800,000	101,900,000	-10,800,000	70,200,000	46,400,000	-12,900,000	-24,100,000	-7,700,000	-13,700,000	-20,700,000	11,900,000	1,700,000	-9,700,000	-69,100,000	-80,300,000	-40,800,000		-14,000,000	-34,000,000	46,100,000
old republic international corporation
notes to consolidated financial statements
unrealized investment (gains) losses from changes in fair value
preferred stock:
balance, beginning and end of period
common stock:
balance, beginning of period			248,800,000		-13,400,000	-6,500,000	278,300,000		-8,100,000	-4,200,000	296,900,000		600,000	800,000	307,500,000
dividend reinvestment plan
stock-based compensation			300,000	100,000			100,000
treasury stock restored to unissued status			-700,000	-24,900,000	8,400,000	-6,800,000	-6,600,000	-16,200,000	4,000,000	-3,400,000	-5,300,000	-7,800,000
balance, end of period			248,400,000		-4,900,000	-13,400,000	271,800,000		-4,300,000	-8,100,000	292,700,000		-4,600,000	600,000	308,300,000
additional paid-in capital:
401(k) plan shares released			3,300,000	6,000,000	400,000	300,000	1,500,000	3,300,000	300,000	0	900,000
retained earnings:
net income to shareholders			245,000,000
other changes			37,200,000
accumulated other comprehensive income:
net unrealized gains on securities, net of tax			111,700,000		291,200,000	77,100,000	-67,600,000
foreign currency translation adjustment and other			1,500,000	-3,000,000	2,800,000	4,700,000	-5,400,000	9,300,000	-8,600,000	5,000,000	300,000
unallocated 401(k) plan shares:
treasury stock:
common stock repurchases			-25,200,000	-785,100,000	247,900,000	-220,000,000	-194,400,000
restored to unissued status			25,200,000	785,100,000	-247,900,000	220,000,000	194,400,000	409,800,000	-94,700,000	86,500,000	133,700,000	176,400,000
noncontrolling interests:
net income attributable to noncontrolling interests			1,100,000
net effect of changes in ownership and other			24,800,000
old republic international corporation and subsidiaries
consolidated statements of cash flows
unrealized investment losses from changes in fair value
net decrease in short-term investments																	4,000,000	111,700,000				-9,800,000				-64,100,000				68,300,000	27,200,000	-156,000,000											64,900,000				-389,500,000
balance, beginning and end of year
balance, beginning of year
balance, end of year
net income				513,800,000	247,100,000	-224,900,000	316,700,000	546,000,000	-102,900,000	-44,300,000	199,800,000	778,100,000	-51,600,000	-346,400,000	306,300,000	-729,800,000	316,400,000	502,100,000	519,700,000	245,900,000	397,800,000	-604,800,000	202,900,000	165,500,000	412,200,000	275,200,000	197,800,000	4,000,000	46,200,000	101,600,000	113,100,000	111,000,000	101,100,000	122,900,000	125,900,000	102,100,000	103,400,000	85,900,000	66,100,000	194,400,000	102,900,000	194,000,000	56,200,000	-14,900,000	-33,900,000	400,000	-12,900,000	-39,000,000	57,500,000	25,000,000	16,900,000	-46,200,000	-15,900,000	-53,900,000	-126,500,000	29,200,000	115,200,000	107,700,000
net unrealized gains on investments, net of tax
realized investment losses from actual transactions
and impairments
maturities and calls on fixed income securities
proceeds from sale of subsidiary
redemption of debentures and notes																	0	-19,500,000	0	-2,100,000	0	-6,500,000	-1,900,000	0	-6,500,000	0	0	-4,700,000	0	0	-3,900,000	0	0	-3,500,000	0	0	-3,300,000	-1,200,000	0	-3,000,000	-900,000	0	-2,800,000	-800,000	-336,300,000	-2,600,000	-3,500,000	-25,300,000	-120,400,000	-72,500,000	-25,600,000	-36,100,000	-338,800,000	-72,300,000		-10,400,000	-115,400,000	-5,500,000
dividends on common shares (including special dividends of
308.4 paid in 2022)
cash, beginning of year
cash, end of year
realized investment losses from actual transactions and impairments																		-7,800,000				-18,500,000
adoption of new accounting principle
balance, beginning of year, as adjusted
net adjustment related to defined benefit pension plans, net of tax
308.4 paid in 2022 and 764.5 in 2021)
stock based compensation									-200,000	-500,000	1,100,000	1,800,000	-500,000	200,000	400,000
balance, beginning of period, as adjusted									85,800,000	128,500,000	5,321,800,000
net unrealized losses on securities not included in the
statements of income, net of tax									17,500,000	-235,800,000	139,500,000	-515,000,000	108,100,000	153,100,000	-403,500,000
net adjustment related to defined benefit pension plans,
net of tax													0	0	600,000
acquired during the period									94,700,000	-86,500,000	-133,700,000
premiums and other receivables																	-202,000,000	-32,700,000	140,100,000	37,900,000	-181,500,000	-119,900,000	48,500,000	-151,100,000	-85,700,000	37,200,000	-164,000,000	-46,400,000	15,700,000	-144,300,000	-70,800,000	10,500,000	-146,900,000	-61,700,000	-28,400,000	-69,300,000	-48,200,000	-10,200,000	-91,800,000	-97,700,000	-19,200,000	-26,600,000	-49,100,000	-66,300,000	-8,500,000	-66,200,000	-28,500,000	22,800,000	-7,500,000	-1,700,000	173,500,000	-138,300,000	-5,300,000	-11,400,000		-88,500,000	44,300,000	70,600,000
reinsurance balances and funds																						89,900,000	-47,500,000	134,900,000	43,100,000	-41,000,000	130,900,000	20,500,000	-55,600,000	88,300,000	42,300,000	-30,000,000	112,000,000	30,000,000	-5,900,000	47,700,000	55,300,000	-8,300,000	64,200,000	71,500,000	23,300,000	12,100,000	28,200,000	14,800,000	26,000,000	-5,800,000	-12,300,000	12,500,000	-43,200,000	16,400,000	-89,600,000			13,900,000		53,500,000	-43,000,000	-19,400,000
accounts payable, accrued expenses and other																	-4,600,000	-58,100,000	124,300,000	-2,800,000	52,800,000	1,900,000	113,500,000	7,900,000	-5,300,000	68,400,000	21,300,000	-68,700,000	58,100,000	29,300,000	-15,600,000	78,600,000	21,900,000	24,400,000	44,100,000	-1,400,000	29,200,000	20,500,000	-3,100,000	-13,700,000	30,100,000	21,700,000	-15,700,000	34,900,000	-29,100,000	8,100,000	22,000,000	52,300,000	1,300,000	17,200,000	15,900,000	45,200,000	14,700,000	11,200,000		20,500,000	7,200,000	600,000
treasury stock acquired
increase in cash																	-14,100,000	4,700,000		-19,100,000	-30,400,000	65,600,000	9,700,000	7,000,000	-7,500,000	7,300,000	4,500,000	-22,500,000	-55,700,000	17,800,000	31,500,000	-23,900,000	31,500,000	-22,700,000	31,900,000	-22,200,000	13,600,000	73,400,000	16,200,000	-23,100,000																-23,900,000	32,200,000	10,600,000
net unrealized gains on securities not included in the
realized investment gains from actual transactions
accumulated other comprehensive loss:
foreign currency translation adjustment												-1,600,000	-4,700,000	-9,600,000	4,100,000
purchase of unallocated 401(k) plan shares
acquired during the year
fixed income securities:
available for sale:
maturities and early calls																	405,000,000	335,600,000	344,800,000	392,000,000	246,000,000	297,300,000	165,700,000	142,900,000	155,800,000	285,100,000	277,000,000	196,800,000	244,800,000	247,500,000	139,800,000	230,700,000	233,900,000	250,600,000	176,400,000	155,000,000	168,300,000	216,100,000	206,500,000	201,800,000	395,600,000	283,500,000	279,100,000	229,300,000	268,100,000	190,900,000	302,000,000	230,200,000	169,600,000	169,100,000	222,500,000	336,200,000	280,100,000	208,800,000		184,100,000	184,700,000	168,800,000
sales																	11,800,000	156,500,000	55,900,000	149,400,000	105,400,000	88,800,000	126,800,000	176,800,000	126,700,000	41,100,000	37,500,000	144,000,000	81,500,000	192,500,000	107,900,000	124,500,000	87,100,000	70,500,000	99,200,000	65,900,000	49,500,000	107,100,000	200,800,000	498,200,000	110,800,000	33,100,000	15,800,000	45,900,000	281,100,000	30,000,000	123,100,000	96,900,000	552,900,000	68,900,000	72,400,000	47,600,000	27,000,000	6,900,000		2,500,000	10,200,000	14,300,000
increase in cash:																																										-9,900,000	21,300,000	16,300,000	-8,200,000	24,300,000	-9,100,000	22,600,000	-9,600,000	-2,300,000		-10,900,000	5,700,000	-4,200,000
essop shares released													500,000	-300,000	1,600,000
unallocated essop shares:
dividends on common shares (including a special dividend of 308.4 paid in
september 2022 and 304.0 paid in january 2021)
dividends on common shares (including a special dividend paid in january
2021 of 304.0)																	-65,800,000	-369,500,000
net issuance of shares under stock based compensation plans															700,000
unpaid claims and related items																	102,900,000	102,400,000	11,900,000	120,200,000	134,900,000	73,700,000	58,200,000	54,800,000	29,800,000	55,000,000	28,400,000	65,100,000	181,400,000	48,900,000	24,400,000	19,200,000	-6,100,000	12,600,000	112,100,000	60,000,000	23,500,000	-688,900,000	101,500,000	45,900,000	28,500,000	-9,300,000	44,800,000	216,700,000	260,300,000	-13,600,000	-54,500,000	13,800,000	-169,100,000	-144,500,000	104,300,000	237,800,000	122,600,000	118,300,000		221,600,000	107,100,000	72,000,000
dividends on common shares (1.72, .21, 2.16 and .63 per
common share)
purchase of unallocated essop shares
reinsurance balances																	130,800,000	37,900,000		-51,600,000
realized investment (gains) losses from actual transactions																									-12,300,000
fixed maturity securities:
fixed maturity securities																																					-314,500,000	-264,000,000	-197,300,000	-482,000,000	-520,700,000	-531,700,000	-441,700,000	-225,800,000	-482,200,000	-242,300,000	-486,700,000	-230,600,000	-404,900,000	-221,300,000	-488,200,000	-492,500,000	-514,100,000	-232,600,000		-422,600,000	-297,900,000	-266,200,000
net decrease (increase) in short-term investments																								-2,400,000	3,900,000			195,100,000						19,200,000	52,500,000	-71,700,000	28,000,000			-166,800,000					226,600,000	41,000,000		-65,200,000	-68,400,000	43,500,000	167,400,000	-14,500,000	104,300,000	-194,900,000		500,000	96,000,000	-66,200,000
purchase of unallocated common shares by essop																				0	0	-50,000,000				0
cash paid (received) during the period for: interest																								200,000	20,700,000			29,500,000						20,100,000	20,100,000	100,000	20,500,000			10,400,000					13,300,000	10,900,000
numerator:
basic and diluted earnings per share -
income available to common stockholders
denominator:
basic earnings per share -
weighted-average shares
effect of dilutive securities - stock based
compensation awards
diluted earnings per share -
adjusted weighted-average shares
earnings per share: basic																										260,000						40,000
diluted																										260,000						40,000
anti-dilutive common stock equivalents
excluded from earnings per share computations:
stock based compensation awards
available for sale																		-659,300,000	-679,100,000	-862,100,000	-243,700,000	-274,400,000	-326,800,000	-320,000,000	-369,600,000	-427,000,000	-275,700,000	-324,900,000	-483,300,000	-365,800,000	-197,600,000	-373,200,000	-180,100,000	-323,100,000	-208,800,000
convertible preferred stock:
conversion of senior debentures
other
foreign currency translation and other adjustments
prepaid federal income taxes																													0	0	-31,800,000	0	0	-19,100,000	0	-9,800,000	-7,700,000	-7,800,000	-10,800,000	-20,100,000							39,400,000	2,400,000	30,700,000	85,400,000	0	0	0	241,900,000		0	0	-68,100,000
purchase of a business																																																			1,500,000
dividends on common shares (including a special dividend paid in
september 2019 of 303.4 and a special dividend declared
in december 2017 and paid in january 2018 of 269.2)
dividends on common shares (including a special dividend paid in september
2019 of 303.4)
realized investment (gains) losses from actual transactions and impairments
2019 of 303.4 and a special dividend declared in december 2017 and paid
in january 2018 of 269.2)
adjustment for interest expense incurred on
assumed conversion of convertible notes
after assumed conversion of convertible notes																										77,500,000						9,900,000
effect of dilutive securities - convertible notes
and assumed conversion of convertible notes
convertible senior notes
dividends on common shares (including a special dividend declared in
december 2017 and paid in january 2018 of 269.2)																								-59,800,000	-59,600,000
held to maturity																													-6,900,000	-20,300,000	-87,300,000	-122,900,000	-121,000,000	-157,400,000	-133,800,000
numerator for basic earnings per share -
numerator for diluted earnings per share -
denominator for basic earnings per share -
denominator for diluted earnings per share -
realized investment losses from actual sale transactions
effect of dilutive securities - convertible senior notes
realized investment (gains) losses from actual sale transactions																												-15,500,000
realized investment (gains) losses																																		-44,100,000	-41,500,000	-16,700,000	-18,800,000			-191,200,000					-22,000,000	-2,900,000		-3,900,000	-72,900,000	-2,900,000	-6,800,000	800,000
realized investment losses																														-6,900,000	-14,800,000	-7,300,000											-4,500,000				-6,400,000
excluded from earning per share computations:
other‑net																																									0	0	-400,000	0	-100,000	-400,000
assumed conversions of convertible senior notes
after assumed conversions
and assumed conversions
other-net																																															-8,800,000	-6,400,000	-17,600,000	2,900,000	-3,000,000	1,600,000	-7,200,000	200,000				-2,100,000
cash paid (received) during the period for:
see accompanying notes to consolidated financial statements.
other policyholders’ benefits and funds																																															19,100,000	-6,600,000	-1,900,000	-21,300,000	-116,700,000	67,600,000	-5,900,000	-22,000,000		18,700,000	23,500,000	-21,500,000
cash paid during the period for:																																															2,500,000	1,100,000	13,800,000	1,200,000	15,100,000	1,200,000	1,600,000	1,200,000
effect of dilutive securities - stock based compensation awards
earnings per share:
anti-dilutive common share equivalents
other – net																																																		-5,700,000	2,100,000	600,000	2,600,000	300,000
exercise of stock options
issuance of shares
stock option compensation
dividends on common stock: cash
effects of changing pension plan measurement date,
foreign currency translation adjustments
unallocated essop shares issued
old republic international corporation and subsidiaries consolidated statements of cash flows
issuance of unallocated essop shares
purchase of treasury shares
increase (decrease) in cash:
effects of changing pension plan measurement date
pursuant to fas 158, net of tax
net cash provided by operating activities:
sale of a business
realized investment gains																																																								-4,000,000	-13,400,000	-2,900,000
other items - net																																																								3,100,000
fixed assets for company use																																																										200,000
previous classification
after reclassification
change
technical management analysis

Old Republic International Corporation(NYSE:ORI)

Old Republic International Corporation
(NYSE:ORI)