Old Republic International Corporation (ORI) has reported 45.58 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $131.90 million, or $0.46 a share in the quarter, compared with $90.60 million, or $0.32 a share for the same period last year. Revenue during the quarter grew 4.63 percent to $1,548.70 million from $1,480.20 million in the previous year period. Net premium earned for the quarter increased 5.14 percent or $68.90 million to $1,408.10 million.
Total expenses move up marginallyNet investment income for the quarter was almost stable at $100 million, when compared with the last year period. Assets outpace liabilities growthTotal assets increased 8.66 percent or $1,481.10 million to $18,591.60 million on Dec. 31, 2016. On the other hand, total liabilities were at $14,119.70 million as on Dec. 31, 2016, up 6.73 percent or $890.10 million from year-ago. Return on assets stood at 0.80 percent in the quarter, up 0.20 from 0.59 percent in the last year period. At the same time, return on equity was at 2.95 percent in the quarter, up 0.62 from 2.33 percent in the last year period.
Investments move upInvestments stood at $12,995.80 million as on Dec. 31, 2016, up 13.25 percent or $1,520.30 million from year-ago. Meanwhile, yield on investments went down 10 basis points to 0.77 percent in the quarter. Meanwhile, reinsurance recoverables moved up 1.50 percent or $47.90 million over the year to $3,231.50 million on Dec. 31, 2016.
Total debt was at $1,528.70 million as on Dec. 31, 2016, up 60.44 percent or $575.90 million from year-ago. Shareholders equity stood at $4,471.60 million as on Dec. 31, 2016, up 15.22 percent or $590.80 million from year-ago. As a result, debt to equity ratio went up 10 basis points to 0.34 percent in the quarter from 0.25 percent in the last year period.
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