Old Republic (ORI) Expands Specialty Insurance Strategy with New Property Unit

Old Republic International Corporation (NYSE:ORI) is included among the 15 Best Consistent Dividend Stocks to Buy Right Now.

Old Republic (ORI) Expands Specialty Insurance Strategy with New Property Unit

On April 6, Old Republic International Corporation (NYSE:ORI) said it is setting up a new operating company, Old Republic Property, Inc. The unit will focus on underwriting specialized property insurance products and will distribute them through a national retail broker network.

Patrick Hagerty will lead the business as President. He is a graduate of Villanova University and brings more than 20 years of experience in property underwriting and leadership. His background includes building underwriting teams with a strong focus on technical expertise, portfolio management, and long-term profitability. Craig R. Smiddy, Old Republic International’s President and Chief Executive Officer, made the following statement:

“Property insurance is a core line that aligns well with Old Republic’s long-standing strategy and focus on diversified growth in Specialty Insurance. Patrick’s leadership experience, underwriting discipline, and cultural fit, together with Old Republic’s brand, resources, and financial strength, position Old Republic Property to build a high-quality specialty franchise over time.”

Old Republic Property becomes the seventh specialty operating company the firm has launched since 2021. The move adds more depth, diversification, and underwriting capability to the Old Republic Specialty Insurance Group.

Old Republic International Corporation (NYSE:ORI) operates as a specialty insurer with a range of property and casualty and title insurance businesses. It functions as a holding company focused on insurance underwriting and related services.

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