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Earnings Fall at Old Republic

TSC and IRIS Staff

Old Republic International(ORI), an insurance holding company, said its third quarter profits fell 4.5%.

The company earned $116.1 million, or 50 cents a share, in the quarter, compared with $121.6 million or 52 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of 51 cents a share.

The Chicago-based company said third-quarter revenue rose 1.2% from year ago to $962.6 million.

By segment, third-quarter revenue for general insurance segment increased 7.7% from a year ago to $492.7 million, for mortgage guaranty segment it increased 2.9% from a year ago to $ 110.7 million and for title insurance segment it decreased 12.2% from a year ago to $247.8 million.

The company's stock was trading up 33 cents, or 1.47%, at $22.77 Thursday.