CHICAGO, Nov. 13, 2018 /PRNewswire/ -- Old Republic
International Corporation (NYSE: ORI) today announced the following
senior management appointments at its Old Republic National Title
Holding Company ("ORNTHC") subsidiary:
Rande K. Yeager (69),
currently Chairman & Chief Executive Officer, will continue as
Executive Chairman.
Mark A. Bilbrey (65),
currently President and Chief Operating Officer, will assume the
Chief Executive Officer position.
Carolyn J. Monroe (60),
currently President and Chief Operating Officer at the Old Republic
Western Title Group ("ORWTG") division, will assume the Presidency
of ORNTHC.
Ivy L. Anderson (59),
currently Executive Vice President of Old Republic's Western Title
Group division, will become President of ORWTG.
The appointments are effective January 1,
2019.
In making this announcement, Al
Zucaro (79), ORI's Chairman & Chief Executive
Officer, noted that "All these appointments reflect the Company
Board's confidence that each appointee will continue to serve with
distinction in managing Old Republic's Title business for the best
long-term interests of insurance policyholders, customers,
shareholders, and other important stakeholders."
About Old Republic
Chicago-based Old Republic
International Corporation is one of the nation's 50 largest
publicly held insurance organizations. It is a member of the
Fortune 500 listing of America's largest companies. Its most recent
financial statements reflect consolidated assets of approximately
$19.80 billion and common
shareholders' equity of $5.31
billion, or $17.76 per share.
Its current stock market valuation is approximately $6.74 billion, or $22.27 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. 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. For the 25 years ended in 2017, the
Company's total market return, with dividends reinvested, has grown
at a compounded annual rate of 9.1% per share. For the same period,
the total market return, with dividends reinvested, for the S&P
500 Index has grown at a 9.7% annual compound rate. During those
years, Old Republic's shareholders' equity account, inclusive of
cash dividends, has risen at an average annual rate of 9.2% per
share, and the regular cash dividend has grown at an 8.7% annual
compound rate.
According to the most recent edition of Mergent's Dividend
Achievers, Old Republic is one of just 100 qualifying companies,
out of thousands considered, that have posted at least 25
consecutive years of annual dividend growth. Moreover, Old Republic
has paid a cash dividend without interruption since the World War
II year of 1942 (77 years), and it has raised the annual cash
dividend pay-out for each of the past 37 years.
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