CHICAGO, April 15, 2021 /PRNewswire/ -- Old Republic
International Corporation (NYSE: ORI) – today announced that
Lisa Jeffries Caldwell (60)
has joined its Board of Directors as of April 15, 2021. She has concurrently been
appointed to the Board's Compensation, and Governance and
Nominating Committees, as well as to the Directorship of ORI's
major regulated insurance underwriting subsidiaries.
In 2018, Ms. Caldwell retired after serving as the Executive
Vice President and Chief Human Resources Officer during a 27-year
career with Reynolds American, Inc., a former Fortune 500 member.
In making the announcement, Al
Zucaro, Chairman of ORI's Board, noted that "Our Company
will benefit greatly from Lisa's distinguished career and lifetime
achievements. From humble beginnings, she achieved much personal
and professional success. She did it all through the welcoming ways
that America offers to all that can and dare to accomplish the best
that they can be. In retirement she has continued to serve her
community and pursue her entrepreneurial spirit. Most recently Lisa
formed a private boutique clothing business and participated in the
establishment of the Triad Business Bank of whose Board she is a
member. It is for all this and more that she will be a most welcome
addition to Old Republic's Board."
Including Lisa Caldwell, Old
Republic will have added seven new Directors in the five years
through May 2021. In the same time
frame, four Directors will have left the Board due to retirements.
As a result, significant progress has been made to provide greater
diversity of talents, and professional and other backgrounds to the
Board. This ongoing evolution has required a temporary enlargement
of the Board's constituency from the long-standing objective of an
eleven member group. The latter objective is expected to be met
during the next few years through the combination of retirements
and the normal Director nomination and slating processes.
About Old Republic
Chicago-based Old Republic
International Corporation is one of the nation's 50 largest
shareholder-owned insurance businesses. It is a member of the
Fortune 500 listing of America's largest companies. The Company is
organized as an insurance holding company whose subsidiaries
actively market, underwrite, and provide risk management services
for a wide variety of coverages mostly in the general and title
insurance fields. A long-term interest in mortgage guaranty and
consumer credit indemnity coverages has devolved to a run-off
operating mode in recent years. Old Republic's general insurance
business ranks among the nation's 50 largest, while its title
insurance operations are the third largest in its industry.
The nature of Old Republic's business requires that it be
managed for the long run. Its consistent and reliable cash dividend
policy reflects this long-term orientation. The current annualized
dividend rate of $0.88 per share
marks the 40th consecutive year that Old Republic has
boosted this rate, and 2021 becomes the 80th year of
uninterrupted regular cash dividend payments. Here's a summary of
recent years' total book and market returns, which include the
addition and reinvestment of cash dividend payments, in comparison
with the financial performance of three selected indices similarly
developed.
|
ORI
|
Selected Indices'
Compounded
|
|
Annual
|
Annual
|
Total Annual
Returns
|
|
Book Value
|
Market
Value
|
Nominal
|
|
S & P
|
|
Compounded
|
Compounded
|
Gross
|
S & P
|
P&C
|
|
Total
|
Total
|
Domestic
|
500
|
Insurance
|
|
Return
|
Return
|
Product
|
Index
|
Index
|
Ten Years 2001 –
2010
|
8.0%
|
1.9%
|
3.9%
|
1.4%
|
1.0%
|
Ten Years 2011 –
2020
|
8.8%
|
9.9%
|
3.3%
|
13.9%
|
14.3%
|
Twenty Years 2001 –
2020
|
8.4%
|
5.8%
|
3.6%
|
7.5%
|
7.4%
|
|
First Quarter 2020 –
only
|
-9.3%
|
-31.1%
|
2.1%
|
-19.6%
|
-20.6%
|
First Quarter 2021 –
only
|
N/A
|
18.1%
|
6.0%*
|
6.2%
|
4.4%
|
|
N/A – not available /
*Estimated.
|
According to the most recent edition of Mergent's Dividend
Achievers, Old Republic is listed in 58th place
among just 113 qualifying publicly-held companies, out of thousands
considered, that have posted at least 25 consecutive years of
annual dividend growth.
For Old Republic's latest news releases and
other corporate documents:
Please visit us at www.oldrepublic.com
Alternatively, please write or call: Investor
Relations
Old Republic International Corporation
307 North Michigan Avenue, Chicago,
IL 60601
(312) 346-8100
At Old
Republic:
|
At Financial
Relations Board:
|
Craig R. Smiddy,
President and CEO
|
Analysts/Investors: Joe Calabrese
212/827-3772
|
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SOURCE Old Republic International Corporation