Old Republic International (ORI) Q4 Earnings & Revenues Top
Zacks Investment Research | Jan 24, 2019 09:04PM ET
Old Republic International Corporation (NYSE:ORI) reported fourth-quarter 2018 earnings of 45 cents per share, beating the Zacks Consensus Estimate of 42 cents by 7.1%. Also, the bottom line increased 36.4% year over year.
The quarter witnessed higher net premiums earned in commercial auto driven by continued rate increase. However, workers' compensation writings reduced. Nonetheless, net investment income increased.
Behind the Headlines
Adjusted revenues amounted to $1.6 billion, beating the Zacks Consensus Estimate by nearly 1%. Moreover, the top line rose 1.1% year over year, riding on 0.4% higher net premiums and fees earned, 6.3% increase in net investment income and 17.2% higher other income.
Total expenses increased 3.4% to $1.4 billion, driven by a 19.8% rise in claims cost. Claim ratio increased 720 basis points year over year.
Old Republic International Corporation Price, Consensus and EPS Surprise
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here .
Performance of Other Insurers
Of the insurance industry players that have reported fourth-quarter earnings so far, The Travelers Companies, Inc. (NYSE:TRV) and RLI Corp. (NYSE:RLI) beat the respective Zacks Consensus Estimate for earnings while The Progressive Corporation (NYSE:PGR) missed the same.
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