Old Republic International Q4 Earnings Call Highlights: Lower Income, Higher Combined Ratio, and Strong Title Business Performance

Old Republic International reported Q4 consolidated pre-tax operating income of $236 million (down from $285M) and a consolidated combined ratio of 96%. The company's title business posted higher quarterly operating income on improved revenue and continued expense management. Old Republic generated $1 billion of consolidated pre-tax operating income and a 94.7% consolidated combined ratio for the full year 2025.