CHICAGO, Nov. 14, 2019 /PRNewswire/ -- Old
Republic International Corporation (NYSE: ORI) today announced
that Frank Caballero (49)
will join its Old Republic Home Protection Company (ORHP)
home service contract subsidiary as its Senior Vice President and
Chief Operating Officer. This appointment takes effect on
November 25, 2019.
Frank Caballero, a graduate of
Florida International University, has a
proven record as a multi-dimensional leader with skills honed from
a 30-year career in the warranty and service contract businesses.
He brings a wealth of experience in operational management, call
center operations, and complex business integrations.
In making the announcement, Craig R.
Smiddy, ORI's President and Chief Executive Officer,
noted that "we are very excited at the prospect of adding a
professional with Frank Caballero's
operational experience to work with Gwen
Gallagher, ORHP's President, and our talented team for
the years ahead. Our home protection business has been a consistent
and solid contributor to Old Republic's long-term track record, and
with this appointment we're adding important bench strength in this
specialty business. Our intellectual capital investments are part
and parcel to our steadfast commitment to managing Old Republic for
the best long-term interests of customers, shareholders and other
stakeholders."
About Old Republic
Chicago-based Old Republic International
Corporation is one of the nation's 50 largest publicly held
insurance enterprises. 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 since
2012. 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, and its cash dividend policy reflects
that long-term orientation. The current annualized dividend rate of
$0.80 per share marks the 38th
consecutive year that Old Republic has boosted this rate, and 2019
becomes the 78th year of uninterrupted regular cash dividend
payments. Here's a summary of recent years' total book and market
returns, which includes 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
|
|
|
|
|
|
|
Compounded
|
|
Compounded
|
|
Gross
|
|
S & P
|
|
S & P
|
|
|
Total
|
|
Total
|
|
Domestic
|
|
500
|
|
Insurance
|
|
|
Return
|
|
Return
|
|
Product
|
|
Index
|
|
Index
|
Ten Years 1998 –
2008
|
|
9.3%
|
|
3.5%
|
|
5.0%
|
|
-1.4%
|
|
-4.2%
|
Ten Years 2008 –
2018
|
|
6.0%
|
|
11.8%
|
|
3.4%
|
|
13.1%
|
|
11.0%
|
Twenty Years 1998 –
2018
|
|
7.6%
|
|
7.6%
|
|
4.2%
|
|
5.6%
|
|
3.1%
|
According to the most recent edition of Mergent's Dividend
Achievers, Old Republic is listed in 56th place among just 105
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
Further
Information Contacts:
|
AT OLD
REPUBLIC:
|
AT FINANCIAL
RELATIONS BOARD:
|
Craig R. Smiddy:
President &
CEO
|
Analysts/Investors:
Marilynn Meek
|
(312)
346-8100
|
(212)
827-3773
|
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content:http://www.prnewswire.com/news-releases/old-republic-appoints-new-chief-operating-officer-to-home-protection-business-300958528.html
SOURCE Old Republic International Corporation