Old Republic International (ORI) risk factors, FY2025 10-K

RISKS RELATING TO OLD REPUBLIC AND ITS BUSINESSES

1. 01Old Republic’s loss reserves are based on estimates, and if these prove to be inadequate to cover its actual insured losses, Old Republic’s business, financial condition, and results of operations could be adversely affected
2. 02If the Company is unable to accurately underwrite risks and charge competitive yet profitable rates to its policyholders and customers, the Company’s business, financial condition, and results of operations could be materially and adversely affected
3. 03If the Company is unable to realize its investment objectives, its financial condition and results of operations may be adversely affected
4. 04Losses due to nonperformance or defaults by counterparties can have a material adverse effect on the Company’s profitability or sources of liquidity
5. 05The Company’s status as a holding company with no direct operations could adversely affect its liquidity and its ability to service debt and pay dividends76% rewritten
6. 06The payment of dividends by the Company’s insurance subsidiaries is restricted by state insurance laws or subject to approval of the insurance regulatory authorities in the jurisdictions in which the subsidiaries are domiciledNew
7. 07Old Republic may not be able to maintain paying dividends at current rates, or at all35% rewritten
8. 08The Company may suffer losses from litigation, which could materially and adversely affect its financial condition and business operations
9. 09The Company competes with a large number of companies in the insurance industry for premium revenues
10. 10If the Company’s investments in new operating companies are unsuccessful, the Company’s expectations for top- and bottom-line growth may not be met
11. 11If the Company is unable to keep pace with the technological advancements in the insurance industry, its ability to compete effectively could be impaired
12. 12Climate change could have a material adverse effect on Old Republic’s business and investments
13. 13If climate change has a significant impact on a specific investment or bond issuer, or the economy in general, investment losses or reduction in premium and fee revenue could potentially occur. In that event, Old Republic would address such issues pursuant to sound business and investment practices
14. 14Catastrophic losses, including those caused by natural disasters such as earthquakes or man-made events such as terrorist attacks, are inherently unpredictable and could cause the Company to suffer material financial losses
15. 15If the Company is not able to obtain reinsurance on favorable terms, its business, financial condition, and results of operations could be adversely affected
16. 16Losses due to defaults by insureds with which the Company has entered into risk-sharing arrangements could adversely affect its profitability
17. 17The Title Insurance segment’s products and services and claims experience may suffer as a result of deteriorations in the real estate market
18. 18Because independent title agents issue a significant portion of the Title Insurance segment's policies and operate with substantial independence from the business, the independent operations of these title agents could adversely affect the financial condition and profitability of this segment
19. 19Regulation of title insurance rates could adversely affect the Title Insurance segment
20. 20The Title Insurance segment’s business may be adversely affected by business or regulatory conditions that disproportionately affect Florida
21. 21A title failure or other claim on a large commercial title policy could adversely affect the Title Insurance segment and the Company