CHICAGO, Dec. 28, 2017 /PRNewswire/ -- Old
Republic International Corporation (NYSE: ORI) today
announced that the Board of Directors has appointed Jeffrey Lange as Senior Vice
President/Underwriting & Distribution of the Old Republic
General Insurance Group, Inc. (ORGIG). Concurrently, he will become
a member of ORGIG's Office of the Chief Executive Officer, this
segment's senior strategy and policy-setting executive group. The
appointment takes effect on January 2,
2018.
Jeff Lange joins Old Republic's
most senior executive ranks on the strength of a general insurance
career spanning more than 24 years. Until his recent departure,
most of those years were dedicated to the Hartford Insurance
Group's business where he had assumed positions of increasingly
greater management responsibilities.
In making this announcement, Al
Zucaro, Old Republic's chairman and chief executive officer,
noted that "Jeff Lange's
wide-ranging experience in general insurance, as well as his
leadership skills will add greater depth to our multi-faceted
business. We look forward to his contributions as we enhance
our management talents in the general and title insurance segments
as the major pillars of Old Republic's long-term growth
strategy."
About Old Republic
Chicago-based Old Republic
International Corporation is one of the nation's 50 largest
publicly held insurance organizations. Its most recent financial
statements reflect consolidated assets of approximately
$19.74 billion and common
shareholders' equity of $4.73
billion, or $18.09 per share.
Its current stock market valuation is approximately $5.55 billion based on a recent price of
$21.50 per share.
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.
The nature of Old Republic's business requires that it be
managed for the long run. For the 25 years ended in 2016, the
Company's total market return, with dividends reinvested, has grown
at a compounded annual rate of 10.0 percent per share. For the same
period, the total market return, with dividends reinvested, for the
S&P 500 Index has grown at a 9.2 percent annual compound rate.
During those years, Old Republic's shareholders' equity account,
inclusive of cash dividends, has risen at an average annual rate of
9.5 percent per share, and the regular cash dividend has grown at a
9.0 percent annual compound rate. According to the most recent
edition of Mergent's Dividend Achievers, Old Republic is one of
just 96 qualifying 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
Further
Information Contacts:
|
AT OLD
REPUBLIC:
|
AT FINANCIAL
RELATIONS BOARD:
|
A. C. Zucaro:
Chairman & CEO
|
Analysts/Investors:
Marilynn Meek
|
(312)
346-8100
|
(212)
827-3773
|
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SOURCE Old Republic International Corporation