Old Republic International (ORI) 10-Q 2 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2018shares
Entity Information [Line Items]
Entity Registrant Name	Old Republic International Corporation
Entity Central Index Key	74,260
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding	302,643,075

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Sep. 30, 2018	Dec. 31, 2017
Available for sale:
Fixed maturity securities (at fair value) (amortized cost: $8,187.5 and $8,162.2)		$ 8,070.7	$ 8,282.3
Short-term investments (at fair value which approximates cost)		580.7	670.1
Total		8,651.4	8,952.4
Held to maturity
Fixed maturity securities (at amortized cost) (fair value: $1,022.4 and $1,069.2)		1,050.5	1,067.4
Equity securities (at fair value) (cost: $2,820.9 and $2,629.9)		3,474.3	3,265.5
Other investments		34.6	32.5
Total investments		13,211	13,318
Other Assets:
Cash		115.2	125.9
Securities and indebtedness of related parties		19.1	12.8
Accrued investment income		93.9	92.4
Accounts and notes receivable		1,643	1,469.7
Prepaid federal income taxes		114.3	114.3
Reinsurance balances and funds held		169	141.6
Reinsurance recoverable: Paid losses		58.9	60.5
Reinsurance recoverable: Policy and claim reserves		3,578.3	3,311.3
Deferred policy acquisition costs		316.6	297.8
Sundry assets		482.6	458.8
Total Other Assets		6,591.3	6,085.5
Total Assets		19,802.3	19,403.5
Liabilities, Preferred Stock, and Common Shareholders' Equity Liabilities:
Losses, claims, and settlement expenses		9,482.9	9,237.6
Unearned premiums		2,245.8	1,971.5
Other policyholders' benefits and funds		204.6	204.7
Total policy liabilities and accruals		11,933.4	11,413.9
Commissions, expenses, fees, and taxes		510.8	547.7
Reinsurance balances and funds		703.2	566.9
Taxes Payable, Current		3.7	6.5
Deferred Income Tax Liabilities, Net		54.7	100.5
Debt		981.1	1,448.7
Sundry liabilities		303.9	585.8
Commitments and contingent liabilities
Total Liabilities		14,491.1	14,670.2
Preferred Stock	[1]	0	0
Common Shareholders' Equity:
Common stock	[1]	302.6	269.2
Additional paid-in capital		1,275.6	815.2
Retained earnings		4,014.6	3,206.9
Accumulated other comprehensive income (loss)		(217.7)	474.2
Unallocated ESSOP shares (at cost)		(64)	(32.4)
Total Common Shareholders' Equity		5,311.2	4,733.3
Total Liabilities, Preferred Stock and Common Shareholders' Equity		$ 19,802.3	$ 19,403.5
[1]	At September 30, 2018 and December 31, 2017, there were 75,000,000 shares of $0.01 par value preferred stock authorized, of which no shares were outstanding. As of the same dates, there were 500,000,000 shares of common stock, $1.00 par value, authorized, of which 302,643,075 and 269,238,727 were issued as of September 30, 2018 and December 31, 2017, respectively. At September 30, 2018 and December 31, 2017, there were 100,000,000 shares of Class B Common Stock, $1.00 par value, authorized, of which no shares were issued.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Available for sale:
Fixed maturity securities (amortized costs)	$ 8,187.5	$ 8,162.2
Held to maturity securities
Fixed maturity securities (fair value)	1,022.4	1,069.2
Equity securities - cost	$ 2,820.9	$ 2,629.9
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, authorized shares (in shares)	75,000,000	75,000,000
Preferred Stock, outstanding shares (in shares)	0	0
Common Stock, par value (in dollars per share)	$ 1	$ 1
Common Stock, authorized shares (in shares)	500,000,000	500,000,000
Common Stock, issued shares (in shares)	302,643,075	269,238,727
Common Class B [Member]
Held to maturity securities
Common Stock, par value (in dollars per share)	$ 1	$ 1
Common Stock, authorized shares (in shares)	100,000,000	100,000,000
Common Stock, issued shares (in shares)	0	0

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Net premiums earned	$ 1,388.6	$ 1,312	$ 3,914.4	$ 3,752.6
Title, escrow, and other fees	116.2	121.4	341	344.6
Total premiums and fees	1,504.8	1,433.4	4,255.5	4,097.3
Net investment income	108.7	103.3	321.5	305.7
Other income	30.4	20.4	91.1	76.3
Total operating revenues	1,644	1,557.2	4,668.2	4,479.4
Investment gains (losses):
Realized from actual transactions	7.3	35.8	54.8	57.5
Unrealized from changes in fair value of equity securities	128.4	0	17.7	0
Unrealized from impairments	0	0	0	0
Total realized and unrealized investment gains (losses)	135.7	35.8	72.6	57.5
Total revenues	1,779.7	1,593	4,740.9	4,536.9
Benefits, Claims and Expenses:
Benefits, claims and settlement expenses	615.1	759	1,806.3	1,927.1
Dividends to policyholders	4.2	7.3	14.4	17.5
Underwriting, acquisition, and other expenses	815.2	751.1	2,310	2,173.1
Interest and other charges	9.9	15.8	34.3	48.3
Total expenses	1,444.6	1,533.3	4,165.2	4,166.2
Income (loss) before income taxes (credits)	335.1	59.6	575.7	370.7
Income Taxes (Credits):
Current	34.2	52.9	95.7	138.4
Deferred	25.6	(39.4)	2.9	(28.6)
Total	59.8	13.4	98.6	109.7
Net Income	$ 275.2	$ 46.1	$ 477	$ 260.9
Net Income Per Share:
Net income (loss) per share: Basic (in dollars per share)	$ 0.92	$ 0.18	$ 1.63	$ 1
Net income (loss) per share: Diluted (in dollars per share)	$ 0.92	$ 0.17	$ 1.59	$ 0.91
Average shares outstanding: Basic (in shares)	299,006,345	261,380,896	292,565,008	261,181,220
Average shares outstanding: Diluted (in shares)	300,374,004	298,529,626	301,125,090	298,559,757
Dividends Per Common Share:
Cash	$ 0.1950	$ 0.1900	$ 0.5850	$ 0.5700

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 275.2	$ 46.1	$ 477	$ 260.9
Unrealized gains (losses) on securities:
Unrealized gains (losses) on securities before reclassifications	(24.6)	124.1	(236.3)	220
Amounts reclassified as realized investment gains from sales in the statements of income	1.2	(35.8)	(0.4)	(57.5)
Pretax unrealized gains (losses) on securities	(23.4)	88.3	(236.8)	162.5
Deferred income taxes (credits)	(4.9)	31	(49.8)	56.9
Net unrealized gains (losses) on securities, net of tax	(18.4)	57.3	(186.9)	105.5
Defined benefit pension plans:
Net pension adjustment before reclassifications	0	0	0	0
Amounts reclassified as underwriting, acquisition, and other expenses in the statements of income	0.8	0.1	2.4	0.3
Net adjustment related to defined benefit pension plans	0.8	0.1	2.4	0.3
Deferred income taxes (credits)	0.1	0	0.5	0.1
Net adjustment related to defined benefit pension plans, net of tax	0.6	0	1.9	0.2
Foreign currency translation and other adjustments	2.6	8.6	(4.7)	11.9
Net adjustments	(15.1)	66.1	(189.7)	117.7
Comprehensive Income (Loss)	$ 260	$ 112.2	$ 287.3	$ 378.7

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net income	$ 477	$ 260.9
Adjustments to reconcile net income to
Deferred policy acquisition costs	(18.7)	(27.7)
Premiums and other receivables	(173.2)	(199.4)
Unpaid claims and related items	148.5	254.7
Unearned premiums and other policyholders' liabilities	103.8	164.2
Income taxes	0.8	11.9
Prepaid federal income taxes	0	(31.8)
Reinsurance balances and funds	110.4	75
Realized investment (gains) losses from actual transactions	(54.8)	(57.5)
Unrealized investment (gains) losses from changes in fair value of equity securities	(17.7)	0
Accounts payable, accrued expenses and other	21	71.8
Total	597.1	522.1
Available for sale
Maturities and early calls	758.9	632.1
Sales	222.6	381.9
Sales of:
Equity securities	294.5	233.5
Other - net	13.3	27.1
Purchases of:
Available for sale	(1,027.6)	(1,046.7)
Held to maturity	0	(114.5)
Equity securities	(432)	(295.6)
Other - net	(40.4)	(44.3)
Net decrease (increase) in short-term investments	88.7	(163.4)
Other - net	(6.8)	0
Total	(128.7)	(389.9)
Cash flows from financing activities:
Issuance of common shares	12.2	14
Redemption of debentures and notes	(4.7)	(3.9)
Origination of Loans to Employee Stock Ownership Plans	(37.4)	0
Dividends on common shares (Including a special dividend paid in January 2018)	(440.5)	(148.3)
Other - net	(8.6)	(0.3)
Total	(479.1)	(138.6)
Increase (decrease) in cash	(10.7)	(6.4)
Cash, beginning of period	125.9	145.7
Cash, end of period	115.2	139.2
Supplemental cash flow information:
Cash paid (received) during the period for: Interest	50.4	62.2
Cash paid (received) during the period for: Income taxes	$ 97.9	$ 97.9

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Accounting Policies and Basis of Presentation	Accounting Policies and Basis of Presentation: The accompanying consolidated financial statements have been prepared in conformity with the Financial Accounting Standards Board's ("FASB") Accounting Standards Codification ("ASC") of accounting principles generally accepted in the United States of America ("GAAP"). These interim financial statements should be read in conjunction with these notes and those included in the Company's 2017 Annual Report on Form 10-K incorporated herein by reference. Pertinent accounting and disclosure pronouncements issued from time to time by the FASB are adopted by the Company as they become effective and are further discussed below. a) Effective January 1, 2018, the Company adopted FASB guidance on the recognition and measurement of financial instruments. The impact of the Company’s adoption of this pronouncement and the related interim disclosure requirements have been included in the pertinent note herein. b) In addition, effective January 1, 2018, the Company adopted the FASB's comprehensive revenue recognition standard which applies to contracts with customers, except for those that fall within the scope of other standards, such as insurance contracts. The Company’s adoption of this standard did not have an effect on its insurance contract revenues, and based on its evaluation of certain less significant revenue streams generated from contracts with customers, does not have a material impact on the consolidated financial statements taken as a whole. c) Effective January 1, 2017, the Company adopted new FASB guidance on accounting for share-based payment awards without material impact on the consolidated financial statements. d) In February 2016, the FASB issued guidance on lease accounting which will be effective in 2019 and requires balance sheet recognition of all leases with a term greater than 12 months. The Company's prospective adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements. e) In June 2016, the FASB issued guidance on accounting for credit losses on financial instruments which will be effective in 2020. The guidance will require immediate recognition of expected credit losses for (1) certain financial instruments including reinsurance recoverables, (2) held to maturity securities, (3) accounts and notes receivable and (4) modification of the impairment model for available for sale fixed maturity securities. The Company is currently evaluating the guidance to determine the potential impact of its adoption on its consolidated financial statements. The financial accounting and reporting process relies on estimates and on the exercise of judgment. In the opinion of management all adjustments consisting only of normal recurring accruals necessary for a fair presentation of interim periods' results and financial position have been recorded. Amounts shown in the consolidated financial statements and applicable notes are stated (except as otherwise indicated and as to share data) in millions, which amounts may not add to totals shown due to truncation. Necessary reclassifications are made in prior periods' financial statements whenever appropriate to conform to the most current presentation.

Common Share Data

Common Share Data	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Common Share Data	Common Share Data: Earnings Per Share - Consolidated basic earnings per share excludes the dilutive effect of common stock equivalents and is computed by dividing income available to common stockholders by the weighted-average number of common shares actually outstanding for the quarterly and year-to-date periods. Diluted earnings per share are similarly calculated with the inclusion of dilutive common stock equivalents. The following table provides a reconciliation of net income and the number of shares used in basic and diluted earnings per share calculations. Quarters Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Numerator: Net income $ 275.2 $ 46.1 $ 477.0 $ 260.9 Numerator for basic earnings per share - income available to common stockholders 275.2 46.1 477.0 260.9 Adjustment for interest expense incurred on assumed conversion of convertible notes — 3.6 3.1 10.9 Numerator for diluted earnings per share - income available to common stockholders after assumed conversion of convertible notes $ 275.2 $ 49.8 $ 480.1 $ 271.8 Denominator: Denominator for basic earnings per share - weighted-average shares (a) 299,006,345 261,380,896 292,565,008 261,181,220 Effect of dilutive securities - stock based compensation awards 1,367,659 1,349,148 1,381,914 1,603,514 Effect of dilutive securities - convertible notes — 35,799,582 7,178,168 35,775,023 Denominator for diluted earnings per share - adjusted weighted-average shares and assumed conversion of convertible notes (a) 300,374,004 298,529,626 301,125,090 298,559,757 Earnings per share: Basic $ .92 $ .18 $ 1.63 $ 1.00 Diluted $ .92 $ .17 $ 1.59 $ .91 Anti-dilutive common stock equivalents excluded from earnings per share computations: Stock based compensation awards — 1,403,500 — 1,403,500 Total — 1,403,500 — 1,403,500 __________ (a) In calculating earnings per share, pertinent accounting rules require that common shares owned by the Company's Employee Savings and Stock Ownership Plan that are not yet allocated to participants in the plan be excluded from the calculation. However, such shares are issued and outstanding and have the same voting and other rights applicable to all common shares.

Investments

Investments	9 Months Ended
	Sep. 30, 2018
Investments [Abstract]
Investments	Investments: The Company may classify its fixed maturity invested assets in terms of those assets relative to which it either (1) has the positive intent and ability to hold until maturity, (2) has available for sale or (3) has the intention of trading. As of September 30, 2018 and December 31, 2017 , the majority of the Company's fixed maturity invested assets were classified as "available for sale." Fixed maturity securities classified as "available for sale" are included at fair value with changes in such values, net of deferred income taxes, reflected directly in shareholders' equity. Fixed maturity securities classified as "held to maturity" are carried at amortized cost. Effective January 1, 2018, preferred and common stocks (equity securities) are included at fair value with changes in such values reflected as unrealized investment gains (losses) in the consolidated statements of income. Fair values for fixed maturity securities and equity securities are based on quoted market prices or estimates using values obtained from recognized independent pricing services. The Company reviews the status and fair value changes of each of its fixed maturity investments on at least a quarterly basis during the year, and estimates of other-than-temporary impairments ("OTTI") in the portfolio's value are evaluated and established at each quarterly balance sheet date. In reviewing investments for OTTI, the Company, in addition to a security's market price history, considers the totality of such factors as the issuer's operating results, financial condition and liquidity, its ability to access capital markets, credit rating trends, most current audited financial statements, industry and securities markets conditions, and analyst expectations to reach its conclusions. Sudden fair value declines caused by such adverse developments as newly emerged or imminent bankruptcy filings, issuer default on significant obligations, or reports of financial accounting developments that bring into question the validity of the issuer's previously reported earnings or financial condition, are recognized as realized losses as soon as credible publicly available information emerges to confirm such developments. In the event the Company's estimate of OTTI is insufficient at any point in time, future periods' net income (loss) would be adversely affected by the recognition of additional impairment losses, but its financial position would not necessarily be affected adversely inasmuch as such losses, or a portion of them, could have been recognized previously as unrealized losses directly in shareholders' equity. The Company recognized no OTTI adjustments for the quarters and nine months ended September 30, 2018 and 2017 . The amortized cost and estimated fair values by type and contractual maturity of fixed maturity securities are shown in the following tables. Expected maturities will differ from contractual maturities since borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Fixed Maturity Securities by Type: September 30, 2018: Available for sale: U.S. & Canadian Governments $ 1,472.9 $ .6 $ 34.8 $ 1,438.6 Corporate 6,714.6 34.8 117.4 6,632.0 $ 8,187.5 $ 35.5 $ 152.3 $ 8,070.7 Held to maturity: Tax-exempt $ 1,050.5 $ .3 $ 28.4 $ 1,022.4 December 31, 2017: Available for sale: U.S. & Canadian Governments $ 1,554.3 $ 6.5 $ 8.7 $ 1,552.2 Corporate 6,607.8 140.8 18.6 6,730.0 $ 8,162.2 $ 147.4 $ 27.3 $ 8,282.3 Held to maturity: Tax-exempt $ 1,067.4 $ 10.0 $ 8.3 $ 1,069.2 Amortized Cost Estimated Fair Value Fixed Maturity Securities Stratified by Contractual Maturity at September 30, 2018: Available for sale: Due in one year or less $ 606.4 $ 607.2 Due after one year through five years 4,563.1 4,517.1 Due after five years through ten years 2,931.5 2,856.4 Due after ten years 86.5 89.9 $ 8,187.5 $ 8,070.7 Held to maturity: Due in one year or less $ — $ — Due after one year through five years 155.9 152.9 Due after five years through ten years 891.4 866.4 Due after ten years 3.1 3.0 $ 1,050.5 $ 1,022.4 The following tables reflect the Company's gross unrealized losses and fair value, aggregated by category and length of time that individual available for sale and held to maturity fixed maturity securities have been in an unrealized loss position. Fair value and issuer's cost comparisons follow: 12 Months or Less Greater than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2018: Fixed Maturity Securities: Available for sale: U.S. & Canadian Governments $ 943.4 $ 22.6 $ 386.5 $ 12.2 $ 1,329.9 $ 34.8 Corporate 3,821.9 84.7 778.1 32.6 4,600.1 117.4 $ 4,765.3 $ 107.4 $ 1,164.7 $ 44.9 $ 5,930.1 $ 152.3 Number of available for sale securities in unrealized loss position 898 265 1,163 Held to maturity: Tax-exempt $ 576.4 $ 9.9 $ 401.3 $ 18.4 $ 977.8 $ 28.4 Number of held to maturity securities in unrealized loss position 204 144 348 December 31, 2017: Fixed Maturity Securities: Available for sale: U.S. & Canadian Governments $ 1,080.9 $ 8.6 $ 29.5 $ — $ 1,110.5 $ 8.7 Corporate 1,660.9 15.0 145.9 3.6 1,806.9 18.6 $ 2,741.9 $ 23.6 $ 175.5 $ 3.7 $ 2,917.4 $ 27.3 Number of available for sale securities in unrealized loss position 526 56 582 Held to maturity: Tax-exempt $ 321.9 $ 4.8 $ 134.7 $ 3.4 $ 456.6 $ 8.3 Number of held to maturity securities in unrealized loss position 112 48 160 In the above tables the unrealized losses on fixed income securities are primarily deemed to reflect changes in the interest rate environment. As part of its assessment of other-than-temporary impairments, the Company considers its intent to continue to hold, and the likelihood that it will not be required to sell investment securities in an unrealized loss position until cost recovery, principally on the basis of its asset and liability maturity matching procedures. A summary of the Company's equity securities holdings follows: Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Equity Securities: September 30, 2018 $ 2,820.9 $ 695.7 $ 42.3 $ 3,474.3 December 31, 2017 $ 2,629.9 $ 658.8 $ 23.2 $ 3,265.5 At December 31, 2017 , the Company held 9 available for sale equity securities that had been in an unrealized loss position for 12 months or less. Effective January 1, 2018, the Company adopted a new accounting standard which requires the recognition of changes in fair value of equity securities in net income. The effect is shown in the accompanying consolidated financial statements. The cumulative-effect adjustment resulting from the adoption of the new standard was to reclassify $502.1 from accumulated other comprehensive income to retained earnings; total shareholders' equity remained unchanged. During the quarter and first nine months of 2018 , the Company recognized unrealized investment gains (losses) of $128.4 and $17.7 emanating from changes in the fair value of equity securities in the consolidated statements of income. Changes in the fair value of equity securities still held at September 30, 2018 were $137.1 and $67.4 for the quarter and first nine months of 2018 , respectively. Fair Value Measurements - Fair value is defined as the estimated price that is likely to be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants (an exit price) at the measurement date. A fair value hierarchy is established that prioritizes the sources ("inputs") used to measure fair value into three broad levels: inputs based on quoted market prices in active markets (Level 1); observable inputs based on corroboration with available market data (Level 2); and unobservable inputs based on uncorroborated market data or a reporting entity's own assumptions (Level 3). Following is a description of the valuation methodologies and general classification used for financial instruments measured at fair value. The Company uses quoted values and other data provided by a nationally recognized independent pricing source as inputs into its quarterly process for determining fair values of its fixed maturity and equity securities. To validate the techniques or models used by pricing sources, the Company's review process includes, but is not limited to: (i) initial and ongoing evaluation of methodologies used by outside parties to calculate fair value; and (ii) comparing other sources including the fair value estimates to its knowledge of the current market and to independent fair value estimates provided by the investment custodian. The independent pricing source obtains market quotations and actual transaction prices for securities that have quoted prices in active markets and uses its own proprietary method for determining the fair value of securities that are not actively traded. In general, these methods involve the use of "matrix pricing" in which the independent pricing source uses observable market inputs including, but not limited to, investment yields, credit risks and spreads, benchmarking of like securities, broker-dealer quotes, reported trades and sector groupings to determine a reasonable fair value. Level 1 securities include U.S. and Canadian Treasury notes, publicly traded common stocks, the quoted net asset value ("NAV") mutual funds, and short-term investments in highly liquid money market instruments. Level 2 securities generally include corporate bonds, municipal bonds, and certain U.S. and Canadian government agency securities. Securities classified within Level 3 include non-publicly traded bonds and equity securities. There were no significant changes in the fair value of assets measured with the use of significant unobservable inputs as of September 30, 2018 and December 31, 2017 . The following tables show a summary of the fair value of financial assets segregated among the various input levels described above: Fair Value Measurements As of September 30, 2018: Level 1 Level 2 Level 3 Total Available for sale: Fixed maturity securities: U.S. & Canadian Governments $ 642.6 $ 796.0 $ — $ 1,438.6 Corporate — 6,621.5 10.5 6,632.0 Short-term investments 580.7 — — 580.7 Held to maturity: Fixed maturity securities: Tax-exempt — 1,022.4 — 1,022.4 Equity securities $ 3,472.6 $ — $ 1.6 $ 3,474.3 As of December 31, 2017: Available for sale: Fixed maturity securities: U.S. & Canadian Governments $ 761.4 $ 790.8 $ — $ 1,552.2 Corporate — 6,719.5 10.5 6,730.0 Short-term investments 670.1 — — 670.1 Held to maturity: Fixed maturity securities: Tax-exempt — 1,069.2 — 1,069.2 Equity securities $ 3,264.4 $ — $ 1.1 $ 3,265.5 There were no transfers between Levels 1, 2 or 3 during the nine months ended September 30, 2018 . Investment income is reported net of allocated expenses and includes appropriate adjustments for amortization of premium and accretion of discount on fixed maturity securities acquired at other than par value. Dividends on equity securities are credited to income on the ex-dividend date. Realized investment gains and losses, which result from sales or write-downs of securities, are reflected as revenues in the income statement and are determined on the basis of amortized cost at date of sale for fixed maturity securities, and cost in regard to equity securities; such bases apply to the specific securities sold. Effective January 1, 2018 , as above noted, unrealized gains and (losses) from changes in fair value of equity securities are recorded as investment gains (losses) in the income statement. Unrealized investment gains (losses) on fixed maturity securities, net of any deferred income taxes, are recorded directly as a component of accumulated other comprehensive income in shareholders' equity. At September 30, 2018 , the Company and its subsidiaries had no non-income producing fixed maturity or equity securities. The following table reflects the composition of net investment income, net realized gains or losses, and the net change in unrealized investment gains or losses for each of the periods shown. Quarters Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Investment income from: Fixed maturity securities $ 74.4 $ 72.9 $ 224.2 $ 220.4 Equity securities 31.5 28.7 91.3 81.6 Short-term investments 2.7 1.6 6.9 3.6 Other sources 1.4 1.0 3.6 3.2 Gross investment income 110.2 104.4 326.2 309.0 Investment expenses (a) 1.4 1.1 4.6 3.3 Net investment income $ 108.7 $ 103.3 $ 321.5 $ 305.7 Investment gains (losses): From actual transactions: Fixed maturity securities: Gains $ .5 $ 2.6 $ 1.6 $ 17.0 Losses (1.7 ) — (2.6 ) (4.9 ) Net (1.2 ) 2.5 (1.0 ) 12.1 Equity securities: Gains 8.6 39.4 61.5 51.6 Losses — (6.3 ) (7.1 ) (6.3 ) Net 8.6 33.0 54.4 45.3 Other long-term investments, net — .1 1.5 — Total from actual transactions 7.3 35.8 54.8 57.5 From unrealized changes in fair value of equity securities 128.4 — 17.7 — From impairments — — — — Total realized and unrealized investment gains (losses) 135.7 35.8 72.6 57.5 Current and deferred income taxes (credits) 28.5 12.5 15.2 20.1 Post tax realized and unrealized investment gains (losses) $ 107.2 $ 23.2 $ 57.4 $ 37.3 Changes in unrealized investment gains (losses) reflected directly in shareholders' equity on: Fixed maturity securities $ (23.4 ) $ 4.4 $ (236.4 ) $ 27.4 Less: Deferred income taxes (credits) (5.0 ) 1.7 (49.8 ) 9.8 (18.4 ) 2.7 (186.6 ) 17.6 Equity securities & other long-term investments — 83.8 (.3 ) 135.0 Less: Deferred income taxes (credits) — 29.2 — 47.1 — 54.6 (.2 ) 87.8 Net changes in unrealized investment gains (losses) $ (18.4 ) $ 57.3 $ (186.9 ) $ 105.5 __________ (a) Investment expenses largely consist of personnel costs and investment management and custody service fees.

Losses, Claims and Settlement E

Losses, Claims and Settlement Expenses	9 Months Ended
	Sep. 30, 2018
Insurance [Abstract]
Losses, Claims and Settlement Expenses	Losses, Claims and Settlement Expenses: The establishment of claim reserves by the Company's insurance subsidiaries is a reasonably complex and dynamic process influenced by a large variety of factors. These factors principally include past experience applicable to the anticipated costs of various types of claims, continually evolving and changing legal theories emanating from the judicial system, recurring accounting, statistical, and actuarial studies, the professional experience and expertise of the Company's claim departments' personnel or attorneys and independent claim adjusters, ongoing changes in claim frequency or severity patterns such as those caused by natural disasters, illnesses, accidents, work‑related injuries, and changes in general and industry-specific economic conditions. Consequently, the reserves established are a reflection of the opinions of a large number of persons, of the application and interpretation of historical precedent and trends, of expectations as to future developments, and of management's judgment in interpreting all such factors. At any point in time, the Company is exposed to the incurrence of possibly higher or lower than anticipated claim costs due to all of these factors, and to the evolution, interpretation, and expansion of tort law, as well as the effects of unexpected jury verdicts. All reserves are therefore based on estimates which are periodically reviewed and evaluated in the light of emerging claim experience and changing circumstances. The resulting changes in estimates are recorded in operations of the periods during which they are made. Return and additional premiums and policyholders' dividends, all of which tend to be affected by development of claims in future years, may offset, in whole or in part, favorable or unfavorable claim developments for certain coverages such as workers' compensation, portions of which are written under loss sensitive programs that provide for such adjustments. The Company believes that its overall reserving practices have been consistently applied over many years, and that its aggregate net reserves have generally resulted in reasonable approximations of the ultimate net costs of claims incurred. However, no representation is made nor is any guaranty given that ultimate net claim and related costs will not develop in future years to be greater or lower than currently established reserve estimates. The Company’s accounting policy regarding the establishment of claim reserve estimates is described in Note 1(h) to the consolidated financial statements included in Old Republic’s 2017 Annual Report on Form 10-K. The following table shows an analysis of changes in aggregate reserves for the Company's losses, claims and settlement expenses for each of the periods shown. This space left intentionally blank Summary of changes in aggregate reserves for claims and related costs: Nine Months Ended September 30, 2018 2017 Gross reserves at beginning of period $ 9,237.6 $ 9,206.0 Less: reinsurance losses recoverable 2,921.1 2,766.1 Net reserves at beginning of period: General Insurance 5,471.5 5,249.9 Title Insurance 559.7 602.0 RFIG Run-off 271.7 574.0 Other 13.5 13.8 Sub-total 6,316.4 6,439.8 Incurred claims and claim adjustment expenses: Provisions for insured events of the current year: General Insurance 1,717.4 1,650.0 Title Insurance 72.0 69.5 RFIG Run-off (a) 43.7 277.6 Other 15.7 15.7 Sub-total 1,849.0 2,012.9 Change in provision for insured events of prior years: General Insurance 7.3 41.9 Title Insurance (27.0 ) (34.9 ) RFIG Run-off (a) (19.8 ) (90.4 ) Other (3.2 ) (1.6 ) Sub-total (42.7 ) (85.0 ) Total incurred claims and claim adjustment expenses (a) 1,806.2 1,927.9 Payments: Claims and claim adjustment expenses attributable to insured events of the current year: General Insurance 543.1 501.0 Title Insurance 5.7 2.9 RFIG Run-off (b) 1.6 4.8 Other 10.6 9.8 Sub-total 561.1 518.7 Claims and claim adjustment expenses attributable to insured events of prior years: General Insurance 959.4 960.2 Title Insurance 44.9 45.5 RFIG Run-off (b) 87.3 144.6 Other 4.7 3.5 Sub-total 1,096.4 1,153.9 Total payments (b) 1,657.6 1,672.6 Amount of reserves for unpaid claims and claim adjustment expenses at the end of each period, net of reinsurance losses recoverable: (c) General Insurance 5,693.8 5,480.6 Title Insurance 554.0 588.1 RFIG Run-off 206.5 611.7 Other 10.6 14.4 Sub-total 6,465.0 6,695.1 Reinsurance losses recoverable 3,017.8 2,999.3 Gross reserves at end of period $ 9,482.9 $ 9,694.4 __________ (a) In common with all other insurance coverages, RFIG Run-off mortgage guaranty settled and incurred claim and claim adjustment expenses include only those costs actually or expected to be paid by the Company. Changes in mortgage guaranty aggregate case, IBNR, and loss adjustment expense reserves shown below and entering into the determination of incurred claim costs, take into account, among a large number of variables, claim cost reductions for anticipated coverage rescissions and claims denials. The RFIG Run-off mortgage guaranty provision for insured events of the current year was reduced by estimated coverage rescissions and claims denials of $.7 and $5.0 for the year-to-date periods ended September 30, 2018 and 2017 , respectively. The provision for insured events of prior years for the periods shown in the table was (increased) reduced by estimated coverage rescissions and claims denials of $(12.6) and $(3.5) , respectively. Prior year development was also affected in varying degrees by differences between actual claim settlements relative to expected experience, by reinstatement of previously rescinded or denied claims, and by subsequent revisions of assumptions in regards to claim frequency, severity or levels of associated claim settlement costs which result from consideration of underlying trends and expectations. (b) Rescissions reduced the Company's paid losses by an estimated $3.5 and $10.0 for the year-to-date periods ended September 30, 2018 and 2017 , respectively. (c) Net reserves for claims that have been incurred but are not yet reported ("IBNR") carried in each segment were as follows: September 30, September 30, December 31, 2018 2017 2017 General Insurance $ 2,696.3 $ 2,607.7 $ 2,585.9 Title Insurance 466.1 509.3 479.3 RFIG Run-off 29.6 327.3 30.5 Other 4.5 6.8 4.7 Total $ 3,196.6 $ 3,451.3 $ 3,100.6

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
Pension Plans	Employee Benefit Plans: The Company had an active pension plan (the "Plan") covering a portion of its work force until December 31, 2013 . The Plan is a defined benefit plan pursuant to which pension payments are based primarily on years of service and employee compensation near retirement. The Plan was closed to new participants and benefits were frozen as of December 31, 2013 . As a result, eligible employees retained all of the vested rights as of the effective date of the freeze. While additional benefits no longer accrue, the Company's cumulative obligation continues to be subject to further adjustment due to changes in actuarial assumptions such as expected mortality and changes in interest rates. Net periodic pension costs for the quarterly and year-to-date periods ended September 30, 2018 and 2017 were not material to Old Republic's consolidated statements of income. During the second quarter of 2018 , the Employee Savings and Stock Ownership Plan (ESSOP) purchased 1.7 million shares of Old Republic common stock for $37.4 . The purchases were financed by loans to the ESSOP from participating subsidiaries.

Information About Segments of B

Information About Segments of Business	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Information About Segments of Business	Information About Segments of Business: Old Republic is engaged in the single business of insurance underwriting and related services. The Company conducts its operations through a number of regulated insurance company subsidiaries organized into three major segments, namely its General Insurance Group (property and liability insurance), Title Insurance Group, and the Republic Financial Indemnity Group ("RFIG") Run-off Business. The results of a small life & accident insurance business are included with those of its holding company parent and minor corporate services operations. Each of the Company's segments underwrites and services only those insurance coverages which may be written by it pursuant to state insurance regulations and corporate charter provisions. Segment results exclude investment gains or losses and other-than-temporary impairments as these are aggregated in the consolidated totals. The contributions of Old Republic's insurance industry segments to consolidated totals are shown in the following table. This space left intentionally blank Segmented and Consolidated Results: Quarters Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 General Insurance: Net premiums earned $ 841.5 $ 801.3 $ 2,441.3 $ 2,313.7 Net investment income and other income 116.3 100.4 344.4 313.9 Total revenues excluding investment gains (losses) $ 957.8 $ 901.8 $ 2,785.7 $ 2,627.6 Segment pretax operating income (loss) (a)(c) $ 105.1 $ 59.7 $ 279.1 $ 216.2 Income tax expense (credits) on above $ 18.0 $ 15.8 $ 46.7 $ 61.5 Title Insurance: Net premiums earned $ 524.5 $ 475.4 $ 1,402.5 $ 1,325.8 Title, escrow and other fees 116.2 121.4 341.0 344.6 Sub-total 640.7 596.8 1,743.6 1,670.5 Net investment income and other income 10.0 9.3 29.5 28.4 Total revenues excluding investment gains (losses) $ 650.8 $ 606.1 $ 1,773.1 $ 1,699.0 Segment pretax operating income (loss) (a) $ 67.7 $ 67.3 $ 158.2 $ 172.8 Income tax expense (credits) on above $ 14.0 $ 23.4 $ 33.3 $ 59.8 RFIG Run-off Business: Net premiums earned $ 18.2 $ 30.2 $ 59.2 $ 98.7 Net investment income and other income 4.6 5.4 15.4 16.4 Total revenues excluding investment gains (losses) $ 22.8 $ 35.6 $ 74.7 $ 115.1 Segment pretax operating income (loss) (d) $ 13.3 $ (109.7 ) $ 38.0 $ (88.3 ) Income tax expense (credits) on above $ 2.6 $ (38.5 ) $ 7.7 $ (30.9 ) Consolidated Revenues: Total revenues of above Company segments $ 1,631.5 $ 1,543.6 $ 4,633.6 $ 4,441.7 Other sources (b) 45.7 44.0 127.4 128.1 Consolidated investment gains (losses): Realized from actual transactions 7.3 35.8 54.8 57.5 Unrealized from changes in fair value of equity securities 128.4 — 17.7 — Total realized and unrealized investment gains (losses) 135.7 35.8 72.6 57.5 Consolidation elimination adjustments (33.2 ) (30.4 ) (92.8 ) (90.5 ) Consolidated revenues $ 1,779.7 $ 1,593.0 $ 4,740.9 $ 4,536.9 Consolidated Income (Loss) Before Income Taxes (Credits): Total segment pretax operating income (loss) of above Company segments $ 186.1 $ 17.3 $ 475.4 $ 300.6 Other sources - net (b) 13.1 6.5 27.6 12.4 Consolidated investment gains (losses): Realized from actual transactions 7.3 35.8 54.8 57.5 Unrealized from changes in fair value of equity securities 128.4 — 17.7 — Total realized and unrealized investment gains (losses) 135.7 35.8 72.6 57.5 Consolidated income (loss) before income taxes (credits) $ 335.1 $ 59.6 $ 575.7 $ 370.7 Quarters Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Consolidated Income Tax Expense (Credits): Total income tax expense (credits) of above Company segments $ 34.7 $ .7 $ 87.8 $ 90.4 Other sources - net (b) (3.3 ) .1 (4.4 ) (.7 ) Income tax expense (credits) on consolidated realized and unrealized investment gains (losses) 28.5 12.5 15.2 20.1 Consolidated income tax expense (credits) $ 59.8 $ 13.4 $ 98.6 $ 109.7 September 30, December 31, 2018 2017 Consolidated Assets: General Insurance $ 16,752.1 $ 16,055.5 Title Insurance 1,470.1 1,466.0 RFIG Run-off Business 765.9 805.0 Total assets for the above company segments 18,988.1 18,326.6 Other assets (b) 1,080.0 1,440.9 Consolidation elimination adjustments (265.9 ) (364.0 ) Consolidated assets $ 19,802.3 $ 19,403.5 (a) Segment pretax operating income (loss) is reported net of interest charges on intercompany financing arrangements with Old Republic's holding company parent for the following segments: General - $17.9 and $49.9 compared to $14.3 and $42.7 for the quarters and nine months ended September 30, 2018 and 2017 , respectively, and Title - $1.5 and $4.6 compared to $1.9 and $6.3 for the quarters and nine months ended September 30, 2018 and 2017 , respectively. (b) Represents amounts for Old Republic's holding company parent, minor corporate services subsidiaries, and a small life and accident insurance operation. (c) General Insurance segment pretax operating income (loss) for the quarter and nine months ended September 30, 2017 include hurricane-related claim costs of $20.0 . (d) RFIG Run-off segment pretax operating income (loss) for the quarter and nine months ended September 30, 2017 include additional claim and related expense provisions of $130.0 applicable to the final settlements and probable dispositions of all known litigated and other claim costs incurred by the Company's run-off Financial Indemnity business during the Great Recession years and their aftermath.

Commitments and Contingent Liab

Commitments and Contingent Liabilities Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities: Legal proceedings against the Company and its subsidiaries routinely arise in the normal course of business and usually pertain to claim matters related to insurance policies and contracts issued by its insurance subsidiaries. Under GAAP, an estimated loss is accrued only if the loss is probable and reasonably estimable. At September 30, 2018 , the Company did not have material non-claim litigation exposures in its consolidated business for which adequate loss and related expense provisions had not been made.

Debt

Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt: Consolidated debt of Old Republic and its subsidiaries is summarized below: September 30, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value 3.75% Convertible Senior Notes due 2018 $ — $ — $ 470.6 $ 652.2 4.875% Senior Notes issued in 2014 and due 2024 396.6 411.6 396.2 430.3 3.875% Senior Notes issued in 2016 and due 2026 545.5 527.8 545.1 553.9 ESSOP debt — — 4.2 4.2 Other miscellaneous debt 38.8 38.8 32.4 32.5 Total debt $ 981.1 $ 978.4 $ 1,448.7 $ 1,673.2 During the first quarter 2018 , the Company's outstanding aggregate principal amount of the 3.75% Convertible Senior Notes were converted into 32,229,787 shares of Old Republic common stock. Fair Value Measurements - The Company utilizes indicative market prices, which incorporate recent actual market transactions and current bid/ask quotations to estimate the fair value of outstanding debt securities that are classified within Level 2 of the fair value hierarchy as presented below. The Company uses an internally generated interest yield market matrix table, which incorporates maturity, coupon rate, credit quality, structure and current market conditions to estimate the fair value of its outstanding debt securities that are classified within Level 3. The following table shows a summary of the carrying value and fair value of financial liabilities segregated among the various input levels described in Note 3 above: Carrying Fair Value Value Level 1 Level 2 Level 3 Financial Liabilities: Debt: September 30, 2018 $ 981.1 $ 978.4 $ — $ 939.5 $ 38.8 December 31, 2017 $ 1,448.7 $ 1,673.2 $ — $ 1,636.5 $ 36.7

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes: Tax positions taken or expected to be taken in a tax return by the Company are recognized in the financial statements when it is more likely than not that the position would be sustained upon examination by tax authorities. To the best of management's knowledge, there are no tax uncertainties that are expected to result in significant increases or decreases to unrecognized tax benefits within the next twelve month period. The Company views its income tax exposures as primarily consisting of timing differences whereby the ultimate deductibility of a taxable amount is highly certain but the timing of its deductibility is uncertain. Such differences relate principally to the timing of deductions for loss and premium reserves. As in prior examinations, the Internal Revenue Service ("IRS") could assert that claim reserve deductions were overstated thereby reducing the Company's statutory taxable income in any particular year. The Company believes that it establishes its reserves fairly and consistently at each balance sheet date, and that it would succeed in defending its tax position in these regards. Because of the impact of deferred income tax accounting, the possible accelerated payment of tax to the IRS would not necessarily affect the annual effective tax rate. The Company classifies interest and penalties as income tax expense in the consolidated statement of income. The IRS has audited the Company's consolidated Federal income tax returns through year-end 2013. The Tax Cuts and Jobs Act ("TCJA") was enacted into law on December 22, 2017. The TCJA, among its many elements, lowered the nominal federal corporate tax rate to 21.0% from 35.0% . The IRS requires the Company's insurance subsidiaries to discount loss reserves using either company specific payment patterns, or industry average tables published by the IRS. The Company has previously elected to follow the IRS industry average tables. The TCJA requires the IRS to publish tables linking the interest rates used to discount loss reserves to the corporate bond yield curve as opposed to the Federal mid-term rates used under the old law. As of the date of this report, the IRS has not published the updated tables. Accordingly, the Company has made a provisional estimate of the adjustment resulting from the application of the new IRS published discount rates. The initial provisional estimate resulted in an increase to deferred tax assets of approximately $42.0 , and a corresponding increase to deferred tax liabilities. The deferred tax liability is being amortized into taxable income over 8 years, with no impact to the Company's effective tax rate. Any adjustment to the loss reserve discount estimate will be recorded in the period in which additional information becomes available. This space left intentionally blank

Common Share Data (Tables)

Common Share Data (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	The following table provides a reconciliation of net income and the number of shares used in basic and diluted earnings per share calculations. Quarters Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Numerator: Net income $ 275.2 $ 46.1 $ 477.0 $ 260.9 Numerator for basic earnings per share - income available to common stockholders 275.2 46.1 477.0 260.9 Adjustment for interest expense incurred on assumed conversion of convertible notes — 3.6 3.1 10.9 Numerator for diluted earnings per share - income available to common stockholders after assumed conversion of convertible notes $ 275.2 $ 49.8 $ 480.1 $ 271.8 Denominator: Denominator for basic earnings per share - weighted-average shares (a) 299,006,345 261,380,896 292,565,008 261,181,220 Effect of dilutive securities - stock based compensation awards 1,367,659 1,349,148 1,381,914 1,603,514 Effect of dilutive securities - convertible notes — 35,799,582 7,178,168 35,775,023 Denominator for diluted earnings per share - adjusted weighted-average shares and assumed conversion of convertible notes (a) 300,374,004 298,529,626 301,125,090 298,559,757 Earnings per share: Basic $ .92 $ .18 $ 1.63 $ 1.00 Diluted $ .92 $ .17 $ 1.59 $ .91 Anti-dilutive common stock equivalents excluded from earnings per share computations: Stock based compensation awards — 1,403,500 — 1,403,500 Total — 1,403,500 — 1,403,500 __________ (a) In calculating earnings per share, pertinent accounting rules require that common shares owned by the Company's Employee Savings and Stock Ownership Plan that are not yet allocated to participants in the plan be excluded from the calculation. However, such shares are issued and outstanding and have the same voting and other rights applicable to all common shares.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2018
Investments [Abstract]
Amortized Cost and Estimated Fair Values Of Fixed Maturities	The amortized cost and estimated fair values by type and contractual maturity of fixed maturity securities are shown in the following tables. Expected maturities will differ from contractual maturities since borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Fixed Maturity Securities by Type: September 30, 2018: Available for sale: U.S. & Canadian Governments $ 1,472.9 $ .6 $ 34.8 $ 1,438.6 Corporate 6,714.6 34.8 117.4 6,632.0 $ 8,187.5 $ 35.5 $ 152.3 $ 8,070.7 Held to maturity: Tax-exempt $ 1,050.5 $ .3 $ 28.4 $ 1,022.4 December 31, 2017: Available for sale: U.S. & Canadian Governments $ 1,554.3 $ 6.5 $ 8.7 $ 1,552.2 Corporate 6,607.8 140.8 18.6 6,730.0 $ 8,162.2 $ 147.4 $ 27.3 $ 8,282.3 Held to maturity: Tax-exempt $ 1,067.4 $ 10.0 $ 8.3 $ 1,069.2
Amortized Cost and Estimated Fair Values Of Fixed Maturities By Contractual Maturities	Amortized Cost Estimated Fair Value Fixed Maturity Securities Stratified by Contractual Maturity at September 30, 2018: Available for sale: Due in one year or less $ 606.4 $ 607.2 Due after one year through five years 4,563.1 4,517.1 Due after five years through ten years 2,931.5 2,856.4 Due after ten years 86.5 89.9 $ 8,187.5 $ 8,070.7 Held to maturity: Due in one year or less $ — $ — Due after one year through five years 155.9 152.9 Due after five years through ten years 891.4 866.4 Due after ten years 3.1 3.0 $ 1,050.5 $ 1,022.4
Gross Unrealized Losses and Fair Value, Aggregated	The following tables reflect the Company's gross unrealized losses and fair value, aggregated by category and length of time that individual available for sale and held to maturity fixed maturity securities have been in an unrealized loss position. Fair value and issuer's cost comparisons follow: 12 Months or Less Greater than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2018: Fixed Maturity Securities: Available for sale: U.S. & Canadian Governments $ 943.4 $ 22.6 $ 386.5 $ 12.2 $ 1,329.9 $ 34.8 Corporate 3,821.9 84.7 778.1 32.6 4,600.1 117.4 $ 4,765.3 $ 107.4 $ 1,164.7 $ 44.9 $ 5,930.1 $ 152.3 Number of available for sale securities in unrealized loss position 898 265 1,163 Held to maturity: Tax-exempt $ 576.4 $ 9.9 $ 401.3 $ 18.4 $ 977.8 $ 28.4 Number of held to maturity securities in unrealized loss position 204 144 348 December 31, 2017: Fixed Maturity Securities: Available for sale: U.S. & Canadian Governments $ 1,080.9 $ 8.6 $ 29.5 $ — $ 1,110.5 $ 8.7 Corporate 1,660.9 15.0 145.9 3.6 1,806.9 18.6 $ 2,741.9 $ 23.6 $ 175.5 $ 3.7 $ 2,917.4 $ 27.3 Number of available for sale securities in unrealized loss position 526 56 582 Held to maturity: Tax-exempt $ 321.9 $ 4.8 $ 134.7 $ 3.4 $ 456.6 $ 8.3 Number of held to maturity securities in unrealized loss position 112 48 160
Equity Securities Reflecting Reported Cost	Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Equity Securities: September 30, 2018 $ 2,820.9 $ 695.7 $ 42.3 $ 3,474.3 December 31, 2017 $ 2,629.9 $ 658.8 $ 23.2 $ 3,265.5
Fair Value, Assets Measured on Recurring Basis	The following tables show a summary of the fair value of financial assets segregated among the various input levels described above: Fair Value Measurements As of September 30, 2018: Level 1 Level 2 Level 3 Total Available for sale: Fixed maturity securities: U.S. & Canadian Governments $ 642.6 $ 796.0 $ — $ 1,438.6 Corporate — 6,621.5 10.5 6,632.0 Short-term investments 580.7 — — 580.7 Held to maturity: Fixed maturity securities: Tax-exempt — 1,022.4 — 1,022.4 Equity securities $ 3,472.6 $ — $ 1.6 $ 3,474.3 As of December 31, 2017: Available for sale: Fixed maturity securities: U.S. & Canadian Governments $ 761.4 $ 790.8 $ — $ 1,552.2 Corporate — 6,719.5 10.5 6,730.0 Short-term investments 670.1 — — 670.1 Held to maturity: Fixed maturity securities: Tax-exempt — 1,069.2 — 1,069.2 Equity securities $ 3,264.4 $ — $ 1.1 $ 3,265.5
Investment Income	The following table reflects the composition of net investment income, net realized gains or losses, and the net change in unrealized investment gains or losses for each of the periods shown. Quarters Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Investment income from: Fixed maturity securities $ 74.4 $ 72.9 $ 224.2 $ 220.4 Equity securities 31.5 28.7 91.3 81.6 Short-term investments 2.7 1.6 6.9 3.6 Other sources 1.4 1.0 3.6 3.2 Gross investment income 110.2 104.4 326.2 309.0 Investment expenses (a) 1.4 1.1 4.6 3.3 Net investment income $ 108.7 $ 103.3 $ 321.5 $ 305.7 Investment gains (losses): From actual transactions: Fixed maturity securities: Gains $ .5 $ 2.6 $ 1.6 $ 17.0 Losses (1.7 ) — (2.6 ) (4.9 ) Net (1.2 ) 2.5 (1.0 ) 12.1 Equity securities: Gains 8.6 39.4 61.5 51.6 Losses — (6.3 ) (7.1 ) (6.3 ) Net 8.6 33.0 54.4 45.3 Other long-term investments, net — .1 1.5 — Total from actual transactions 7.3 35.8 54.8 57.5 From unrealized changes in fair value of equity securities 128.4 — 17.7 — From impairments — — — — Total realized and unrealized investment gains (losses) 135.7 35.8 72.6 57.5 Current and deferred income taxes (credits) 28.5 12.5 15.2 20.1 Post tax realized and unrealized investment gains (losses) $ 107.2 $ 23.2 $ 57.4 $ 37.3 Changes in unrealized investment gains (losses) reflected directly in shareholders' equity on: Fixed maturity securities $ (23.4 ) $ 4.4 $ (236.4 ) $ 27.4 Less: Deferred income taxes (credits) (5.0 ) 1.7 (49.8 ) 9.8 (18.4 ) 2.7 (186.6 ) 17.6 Equity securities & other long-term investments — 83.8 (.3 ) 135.0 Less: Deferred income taxes (credits) — 29.2 — 47.1 — 54.6 (.2 ) 87.8 Net changes in unrealized investment gains (losses) $ (18.4 ) $ 57.3 $ (186.9 ) $ 105.5 __________ (a) Investment expenses largely consist of personnel costs and investment management and custody service fees.

Losses, Claims and Settlement_2

Losses, Claims and Settlement Expenses (Tables)	9 Months Ended
	Sep. 30, 2018
Insurance [Abstract]
Schedule of Changes in Aggregate Reserves for Losses, Claims and Settlement Expenses	The following table shows an analysis of changes in aggregate reserves for the Company's losses, claims and settlement expenses for each of the periods shown. This space left intentionally blank Summary of changes in aggregate reserves for claims and related costs: Nine Months Ended September 30, 2018 2017 Gross reserves at beginning of period $ 9,237.6 $ 9,206.0 Less: reinsurance losses recoverable 2,921.1 2,766.1 Net reserves at beginning of period: General Insurance 5,471.5 5,249.9 Title Insurance 559.7 602.0 RFIG Run-off 271.7 574.0 Other 13.5 13.8 Sub-total 6,316.4 6,439.8 Incurred claims and claim adjustment expenses: Provisions for insured events of the current year: General Insurance 1,717.4 1,650.0 Title Insurance 72.0 69.5 RFIG Run-off (a) 43.7 277.6 Other 15.7 15.7 Sub-total 1,849.0 2,012.9 Change in provision for insured events of prior years: General Insurance 7.3 41.9 Title Insurance (27.0 ) (34.9 ) RFIG Run-off (a) (19.8 ) (90.4 ) Other (3.2 ) (1.6 ) Sub-total (42.7 ) (85.0 ) Total incurred claims and claim adjustment expenses (a) 1,806.2 1,927.9 Payments: Claims and claim adjustment expenses attributable to insured events of the current year: General Insurance 543.1 501.0 Title Insurance 5.7 2.9 RFIG Run-off (b) 1.6 4.8 Other 10.6 9.8 Sub-total 561.1 518.7 Claims and claim adjustment expenses attributable to insured events of prior years: General Insurance 959.4 960.2 Title Insurance 44.9 45.5 RFIG Run-off (b) 87.3 144.6 Other 4.7 3.5 Sub-total 1,096.4 1,153.9 Total payments (b) 1,657.6 1,672.6 Amount of reserves for unpaid claims and claim adjustment expenses at the end of each period, net of reinsurance losses recoverable: (c) General Insurance 5,693.8 5,480.6 Title Insurance 554.0 588.1 RFIG Run-off 206.5 611.7 Other 10.6 14.4 Sub-total 6,465.0 6,695.1 Reinsurance losses recoverable 3,017.8 2,999.3 Gross reserves at end of period $ 9,482.9 $ 9,694.4 __________ (a) In common with all other insurance coverages, RFIG Run-off mortgage guaranty settled and incurred claim and claim adjustment expenses include only those costs actually or expected to be paid by the Company. Changes in mortgage guaranty aggregate case, IBNR, and loss adjustment expense reserves shown below and entering into the determination of incurred claim costs, take into account, among a large number of variables, claim cost reductions for anticipated coverage rescissions and claims denials. The RFIG Run-off mortgage guaranty provision for insured events of the current year was reduced by estimated coverage rescissions and claims denials of $.7 and $5.0 for the year-to-date periods ended September 30, 2018 and 2017 , respectively. The provision for insured events of prior years for the periods shown in the table was (increased) reduced by estimated coverage rescissions and claims denials of $(12.6) and $(3.5) , respectively. Prior year development was also affected in varying degrees by differences between actual claim settlements relative to expected experience, by reinstatement of previously rescinded or denied claims, and by subsequent revisions of assumptions in regards to claim frequency, severity or levels of associated claim settlement costs which result from consideration of underlying trends and expectations. (b) Rescissions reduced the Company's paid losses by an estimated $3.5 and $10.0 for the year-to-date periods ended September 30, 2018 and 2017 , respectively. (c) Net reserves for claims that have been incurred but are not yet reported ("IBNR") carried in each segment were as follows: September 30, September 30, December 31, 2018 2017 2017 General Insurance $ 2,696.3 $ 2,607.7 $ 2,585.9 Title Insurance 466.1 509.3 479.3 RFIG Run-off 29.6 327.3 30.5 Other 4.5 6.8 4.7 Total $ 3,196.6 $ 3,451.3 $ 3,100.6

Information About Segments of_2

Information About Segments of Business (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting	The contributions of Old Republic's insurance industry segments to consolidated totals are shown in the following table. This space left intentionally blank Segmented and Consolidated Results: Quarters Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 General Insurance: Net premiums earned $ 841.5 $ 801.3 $ 2,441.3 $ 2,313.7 Net investment income and other income 116.3 100.4 344.4 313.9 Total revenues excluding investment gains (losses) $ 957.8 $ 901.8 $ 2,785.7 $ 2,627.6 Segment pretax operating income (loss) (a)(c) $ 105.1 $ 59.7 $ 279.1 $ 216.2 Income tax expense (credits) on above $ 18.0 $ 15.8 $ 46.7 $ 61.5 Title Insurance: Net premiums earned $ 524.5 $ 475.4 $ 1,402.5 $ 1,325.8 Title, escrow and other fees 116.2 121.4 341.0 344.6 Sub-total 640.7 596.8 1,743.6 1,670.5 Net investment income and other income 10.0 9.3 29.5 28.4 Total revenues excluding investment gains (losses) $ 650.8 $ 606.1 $ 1,773.1 $ 1,699.0 Segment pretax operating income (loss) (a) $ 67.7 $ 67.3 $ 158.2 $ 172.8 Income tax expense (credits) on above $ 14.0 $ 23.4 $ 33.3 $ 59.8 RFIG Run-off Business: Net premiums earned $ 18.2 $ 30.2 $ 59.2 $ 98.7 Net investment income and other income 4.6 5.4 15.4 16.4 Total revenues excluding investment gains (losses) $ 22.8 $ 35.6 $ 74.7 $ 115.1 Segment pretax operating income (loss) (d) $ 13.3 $ (109.7 ) $ 38.0 $ (88.3 ) Income tax expense (credits) on above $ 2.6 $ (38.5 ) $ 7.7 $ (30.9 ) Consolidated Revenues: Total revenues of above Company segments $ 1,631.5 $ 1,543.6 $ 4,633.6 $ 4,441.7 Other sources (b) 45.7 44.0 127.4 128.1 Consolidated investment gains (losses): Realized from actual transactions 7.3 35.8 54.8 57.5 Unrealized from changes in fair value of equity securities 128.4 — 17.7 — Total realized and unrealized investment gains (losses) 135.7 35.8 72.6 57.5 Consolidation elimination adjustments (33.2 ) (30.4 ) (92.8 ) (90.5 ) Consolidated revenues $ 1,779.7 $ 1,593.0 $ 4,740.9 $ 4,536.9 Consolidated Income (Loss) Before Income Taxes (Credits): Total segment pretax operating income (loss) of above Company segments $ 186.1 $ 17.3 $ 475.4 $ 300.6 Other sources - net (b) 13.1 6.5 27.6 12.4 Consolidated investment gains (losses): Realized from actual transactions 7.3 35.8 54.8 57.5 Unrealized from changes in fair value of equity securities 128.4 — 17.7 — Total realized and unrealized investment gains (losses) 135.7 35.8 72.6 57.5 Consolidated income (loss) before income taxes (credits) $ 335.1 $ 59.6 $ 575.7 $ 370.7 Quarters Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Consolidated Income Tax Expense (Credits): Total income tax expense (credits) of above Company segments $ 34.7 $ .7 $ 87.8 $ 90.4 Other sources - net (b) (3.3 ) .1 (4.4 ) (.7 ) Income tax expense (credits) on consolidated realized and unrealized investment gains (losses) 28.5 12.5 15.2 20.1 Consolidated income tax expense (credits) $ 59.8 $ 13.4 $ 98.6 $ 109.7 September 30, December 31, 2018 2017 Consolidated Assets: General Insurance $ 16,752.1 $ 16,055.5 Title Insurance 1,470.1 1,466.0 RFIG Run-off Business 765.9 805.0 Total assets for the above company segments 18,988.1 18,326.6 Other assets (b) 1,080.0 1,440.9 Consolidation elimination adjustments (265.9 ) (364.0 ) Consolidated assets $ 19,802.3 $ 19,403.5 (a) Segment pretax operating income (loss) is reported net of interest charges on intercompany financing arrangements with Old Republic's holding company parent for the following segments: General - $17.9 and $49.9 compared to $14.3 and $42.7 for the quarters and nine months ended September 30, 2018 and 2017 , respectively, and Title - $1.5 and $4.6 compared to $1.9 and $6.3 for the quarters and nine months ended September 30, 2018 and 2017 , respectively. (b) Represents amounts for Old Republic's holding company parent, minor corporate services subsidiaries, and a small life and accident insurance operation. (c) General Insurance segment pretax operating income (loss) for the quarter and nine months ended September 30, 2017 include hurricane-related claim costs of $20.0 . (d) RFIG Run-off segment pretax operating income (loss) for the quarter and nine months ended September 30, 2017 include additional claim and related expense provisions of $130.0 applicable to the final settlements and probable dispositions of all known litigated and other claim costs incurred by the Company's run-off Financial Indemnity business during the Great Recession years and their aftermath.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of Debt	Consolidated debt of Old Republic and its subsidiaries is summarized below: September 30, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value 3.75% Convertible Senior Notes due 2018 $ — $ — $ 470.6 $ 652.2 4.875% Senior Notes issued in 2014 and due 2024 396.6 411.6 396.2 430.3 3.875% Senior Notes issued in 2016 and due 2026 545.5 527.8 545.1 553.9 ESSOP debt — — 4.2 4.2 Other miscellaneous debt 38.8 38.8 32.4 32.5 Total debt $ 981.1 $ 978.4 $ 1,448.7 $ 1,673.2
Fair Value, Debt Measured on Recurring Basis	The following table shows a summary of the carrying value and fair value of financial liabilities segregated among the various input levels described in Note 3 above: Carrying Fair Value Value Level 1 Level 2 Level 3 Financial Liabilities: Debt: September 30, 2018 $ 981.1 $ 978.4 $ — $ 939.5 $ 38.8 December 31, 2017 $ 1,448.7 $ 1,673.2 $ — $ 1,636.5 $ 36.7

Common Share Data (Details)

Common Share Data (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Net income		$ 275.2	$ 46.1	$ 477	$ 260.9
Numerator for basic earnings per share - income (loss) available to common stockholders		275.2	46.1	477	260.9
Adjustment for interest expense incurred on assumed conversions of convertible senior notes		0	3.6	3.1	10.9
Numerator for diluted earnings per share - income (loss) available to common stockholders after assumed conversions		$ 275.2	$ 49.8	$ 480.1	$ 271.8
Denominator for basic earnings per share - weighted-average shares (a)	[1]	299,006,345	261,380,896	292,565,008	261,181,220
Effect of dilutive securities - stock based compensation awards		1,367,659	1,349,148	1,381,914	1,603,514
Effect of dilutive securities - convertible senior notes		0	35,799,582	7,178,168	35,775,023
Denominator for diluted earnings per shares adjusted weighted average shares and assumed conversions (a) (in shares)	[1]	300,374,004	298,529,626	301,125,090	298,559,757
Net income (loss) per share: Basic (in dollars per share)		$ 0.92	$ 0.18	$ 1.63	$ 1
Net income (loss) per share: Diluted (in dollars per share)		$ 0.92	$ 0.17	$ 1.59	$ 0.91
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock equivalents excluded from earnings per share computations		0	1,403,500	0	1,403,500
Stock based compensation awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock equivalents excluded from earnings per share computations		0	1,403,500	0	1,403,500
[1]	(a) In calculating earnings per share, pertinent accounting rules require that common shares owned by the Company's Employee Savings and Stock Ownership Plan that are not yet allocated to participants in the plan be excluded from the calculation. However, such shares are issued and outstanding and have the same voting and other rights applicable to all common shares.

Investments Fixed Maturity Secu

Investments Fixed Maturity Securities by Type (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Fixed maturity securities (amortized cost)	$ 8,187.5	$ 8,162.2
Available for sale, Fixed maturity securities (estimated fair value)	8,070.7	8,282.3
Held to maturity (estimated fair value)	1,022.4	1,069.2
U.S. & Canadian Governments [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Fixed maturity securities (amortized cost)	1,472.9	1,554.3
Available for sale, Fixed maturity securities (gross unrealized gains)	0.6	6.5
Available for sale, Fixed maturity securities (gross unrealized losses)	34.8	8.7
Available for sale, Fixed maturity securities (estimated fair value)	1,438.6	1,552.2
Tax-exempt [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	1,050.5	1,067.4
Held to maturity (gross unrealized gains)	0.3	10
Held to maturity (gross unrealized losses)	28.4	8.3
Held to maturity (estimated fair value)	1,022.4	1,069.2
Corporate [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Fixed maturity securities (amortized cost)	6,714.6	6,607.8
Available for sale, Fixed maturity securities (gross unrealized gains)	34.8	140.8
Available for sale, Fixed maturity securities (gross unrealized losses)	117.4	18.6
Available for sale, Fixed maturity securities (estimated fair value)	6,632	6,730
Fixed Maturity Securities [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Fixed maturity securities (amortized cost)	8,187.5	8,162.2
Available for sale, Fixed maturity securities (gross unrealized gains)	35.5	147.4
Available for sale, Fixed maturity securities (gross unrealized losses)	152.3	27.3
Available for sale, Fixed maturity securities (estimated fair value)	$ 8,070.7	$ 8,282.3

Investments Fair Value (Details

Investments Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity (amortized cost)	$ 1,050.5	$ 1,067.4
Equity securities	3,474.3	3,265.5
Available for sale, Fixed maturity securities	8,070.7	8,282.3
Short-term investments	580.7	670.1
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	580.7	670.1
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
U.S. & Canadian Governments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, Fixed maturity securities	1,438.6	1,552.2
U.S. & Canadian Governments [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, Fixed maturity securities	642.6	761.4
U.S. & Canadian Governments [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, Fixed maturity securities	796	790.8
U.S. & Canadian Governments [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, Fixed maturity securities	0	0
Tax-exempt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity (amortized cost)	1,022.4	1,069.2
Tax-exempt [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity (amortized cost)	0	0
Tax-exempt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity (amortized cost)	1,022.4	1,069.2
Tax-exempt [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity (amortized cost)	0	0
Corporate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, Fixed maturity securities	6,632	6,730
Corporate [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, Fixed maturity securities	0	0
Corporate [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, Fixed maturity securities	6,621.5	6,719.5
Corporate [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, Fixed maturity securities	10.5	10.5
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	3,474.3	3,265.5
Available-for-sale, equity securities	3,474.3	3,265.5
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	3,472.6	3,264.4
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 1.6	$ 1.1

Investments Net Investment Inco

Investments Net Investment Income (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Gain (Loss) on Investments [Line Items]
Gross investment income		$ 110.2	$ 104.4	$ 326.2	$ 309
Investment expenses	[1]	1.4	1.1	4.6	3.3
Net investment income		108.7	103.3	321.5	305.7
Net realized gains (losses)		107.2	23.2	57.4	37.3
Realized from actual transactions		7.3	35.8	54.8	57.5
Unrealized from changes in fair value of equity securities		128.4	0	17.7	0
Realized Investment Gains Losses From Impairment		0	0	0	0
Total realized and unrealized investment gains (losses)		135.7	35.8	72.6	57.5
Current and deferred income taxes (credits)		28.5	12.5	15.2	20.1
Unrealized Gain (Loss) on Investments		(18.4)	57.3	(186.9)	105.5
Equity Securities [Member]
Gain (Loss) on Investments [Line Items]
Equity securities, gross realized gains		8.6	39.4	61.5	51.6
Equity securities, gross realized losses		0	(6.3)	(7.1)	(6.3)
Equity securities, net realized gains (losses)		8.6	33	54.4	45.3
Fixed Maturity Securities [Member]
Gain (Loss) on Investments [Line Items]
Fixed maturity securities, gross realized gains		0.5	2.6	1.6	17
Fixed maturity securities, gross realized losses		(1.7)	0	(2.6)	(4.9)
Net realized gains (losses)		(1.2)	2.5	(1)	12.1
Changes in unrealized investment gains (losses) on, fixed maturity securities		(23.4)	4.4	(236.4)	27.4
Less: Deferred income taxes (credits)		(5)	1.7	(49.8)	9.8
Net changes in unrealized investment gains (losses)		(18.4)	2.7	(186.6)	17.6
Equity securities & other long-term investments [Member]
Gain (Loss) on Investments [Line Items]
Changes in unrealized investment gains (losses) on, fixed maturity securities		0	83.8	(0.3)	135
Less: Deferred income taxes (credits)		0	29.2	0	47.1
Net changes in unrealized investment gains (losses)		0	54.6	(0.2)	87.8
Other Investments
Gain (Loss) on Investments [Line Items]
Other long-term investments, net		0	0.1	1.5	0
Fixed Maturity Securities [Member]
Gain (Loss) on Investments [Line Items]
Gross investment income		74.4	72.9	224.2	220.4
Equity Securities [Member]
Gain (Loss) on Investments [Line Items]
Gross investment income		31.5	28.7	91.3	81.6
Short-term Investments [Member]
Gain (Loss) on Investments [Line Items]
Gross investment income		2.7	1.6	6.9	3.6
Investments [Member]
Gain (Loss) on Investments [Line Items]
Gross investment income		$ 1.4	$ 1	$ 3.6	$ 3.2
[1]	Investment expenses largely consist of personnel costs and investment management and custody service fees.

Investments Textuals (Details)

Investments Textuals (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Schedule of Available-for-sale Securities [Line Items]
Net Unrealized Gains Losses Recognized from Changes in Fair Value of Equity Securities Held	$ 137.1		$ 67.4
Cumulative Effect of New Accounting Principle in Period of Adoption	502.1		502.1
Unrealized from changes in fair value of equity securities	128.4	$ 0	17.7	$ 0
Realized Investment Gains Losses From Impairment	$ 0	$ 0	$ 0	$ 0

Investments Fixed Maturity Se_2

Investments Fixed Maturity Securities Stratified by Contractual Maturity (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Investments [Abstract]
Available for sale, Due in one year or less (amortized cost)	$ 606.4
Available for sale, Due after one year through five years (amortized cost)	4,563.1
Available for sale, Due after five years through ten years (amortized cost)	2,931.5
Available for sale, Due after ten years (amortized cost)	86.5
Available for sale, Fixed maturity securities (amortized cost)	8,187.5	$ 8,162.2
Available for sale, Due in one year or less (estimated fair value)	607.2
Available for sale, Due after one year through five years (estimated fair value)	4,517.1
Available for sale, Due after five years through ten years (estimated fair value)	2,856.4
Available for sale, Due after ten years (estimated fair value)	89.9
Available for sale, Fixed maturity securities (estimated fair value)	8,070.7	8,282.3
Held to maturity, Due within one year or less (amortized cost)	0
Held to maturity, Due after one year through five years (amortized cost)	155.9
Held to maturity, Due after five years through then years (amortized cost)	891.4
Held to maturity, Due after ten years (amortized cost)	3.1
Held to maturity (amortized cost)	1,050.5	1,067.4
Held to maturity, Due in one year or less (estimated fair value)	0
Held to maturity, Due after one year through five years (estimated fair value)	152.9
Held to maturity, Due after five years through ten years (estimated fair value)	866.4
Held to maturity, Due after ten years (estimated fair value)	3
Held to maturity (estimated fair value)	$ 1,022.4	$ 1,069.2

Investments Gross Unrealized Lo

Investments Gross Unrealized Losses and Fair Value (Details) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Fair Value, 12 Months or Less	$ 4,765.3	$ 2,741.9
Available for sale, Unrealized Losses, 12 Months or Less	107.4	23.6
Available for sale, Fair Value, Greater than 12 Months	1,164.7	175.5
Available for sale, Unrealized Losses, Greater than 12 Months	44.9	3.7
Available for sale, Fair Value, Total	5,930.1	2,917.4
Available for sale, Unrealized Losses, Total	152.3	27.3
U.S. & Canadian Governments [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Fair Value, 12 Months or Less	943.4	1,080.9
Available for sale, Unrealized Losses, 12 Months or Less	22.6	8.6
Available for sale, Fair Value, Greater than 12 Months	386.5	29.5
Available for sale, Unrealized Losses, Greater than 12 Months	12.2	0
Available for sale, Fair Value, Total	1,329.9	1,110.5
Available for sale, Unrealized Losses, Total	34.8	8.7
Tax-exempt [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Fair Value, 12 Months or Less	576.4	321.9
Available for sale, Unrealized Losses, 12 Months or Less	9.9	4.8
Available for sale, Fair Value, Greater than 12 Months	401.3	134.7
Available for sale, Unrealized Losses, Greater than 12 Months	18.4	3.4
Available for sale, Fair Value, Total	977.8	456.6
Available for sale, Unrealized Losses, Total	$ 28.4	$ 8.3
Held-to-maturity Securities [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Number of securities in continuous unrealized loss position for 12 months or less	204	112
Number of securities in continuous unrealized loss position for more than 12 months	144	48
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	348	160
Corporate [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Fair Value, 12 Months or Less	$ 3,821.9	$ 1,660.9
Available for sale, Unrealized Losses, 12 Months or Less	84.7	15
Available for sale, Fair Value, Greater than 12 Months	778.1	145.9
Available for sale, Unrealized Losses, Greater than 12 Months	32.6	3.6
Available for sale, Fair Value, Total	4,600.1	1,806.9
Available for sale, Unrealized Losses, Total	$ 117.4	$ 18.6
Available-for-sale Securities [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Number of securities in continuous unrealized loss position for 12 months or less	898	526
Number of securities in continuous unrealized loss position for more than 12 months	265	56
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	1,163	582
Equity Securities [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Number of securities in continuous unrealized loss position for 12 months or less		9

Investments Equity Securities (

Investments Equity Securities (Details) - Equity Securities [Member] - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Equity securities - cost	$ 2,820.9	$ 2,629.9
Equity securities, gross unrealized gains	695.7	658.8
Equity securities, gross unrealized losses	42.3	23.2
Available-for-sale, equity securities	$ 3,474.3	$ 3,265.5

Losses, Claims and Settlement_3

Losses, Claims and Settlement Expenses (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Liability for Unpaid Claims and Claims Adjustment Expense
Gross reserves at beginning of period		$ 9,237.6	$ 9,206
Net reserves at beginning of period				$ 6,316.4	$ 6,439.8
Provisions for insured events of the current year		1,849	2,012.9
Change in provision for insured events of prior years		(42.7)	(85)
Total incurred claims and claim adjustment expenses		1,806.2	1,927.9
Claims and claim adjustment expenses attributable to insured events of the current year		561.1	518.7
Claims and claim adjustment expenses attributable to insured events of prior years		1,096.4	1,153.9
Total payments		1,657.6	1,672.6
Amount of reserves for unpaid claims and claim adjustment expenses at the end of each period, net of reinsurance losses recoverable	$ 6,695.1	6,465	6,695.1
Gross reserves at end of period	9,694.4	9,482.9	9,694.4
Net reserves for claims that have been incurred but are not yet reported	3,451.3	3,196.6	3,451.3	3,100.6
Reinsurance losses recoverable
Supplementary Insurance Information, by Segment [Line Items]
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments				2,921.1	2,766.1
Liability for Unpaid Claims and Claims Adjustment Expense
Less: reinsurance losses recoverable	2,999.3	3,017.8	2,999.3
General Insurance
Liability for Unpaid Claims and Claims Adjustment Expense
Net reserves at beginning of period				5,471.5	5,249.9
Provisions for insured events of the current year		1,717.4	1,650
Change in provision for insured events of prior years		7.3	41.9
Claims and claim adjustment expenses attributable to insured events of the current year		543.1	501
Claims and claim adjustment expenses attributable to insured events of prior years		959.4	960.2
Amount of reserves for unpaid claims and claim adjustment expenses at the end of each period, net of reinsurance losses recoverable	5,480.6	5,693.8	5,480.6
Net reserves for claims that have been incurred but are not yet reported	2,607.7	2,696.3	2,607.7	2,585.9
Title Insurance
Liability for Unpaid Claims and Claims Adjustment Expense
Net reserves at beginning of period				559.7	602
Provisions for insured events of the current year		72	69.5
Change in provision for insured events of prior years		(27)	(34.9)
Claims and claim adjustment expenses attributable to insured events of the current year		5.7	2.9
Claims and claim adjustment expenses attributable to insured events of prior years		44.9	45.5
Amount of reserves for unpaid claims and claim adjustment expenses at the end of each period, net of reinsurance losses recoverable	588.1	554	588.1
Net reserves for claims that have been incurred but are not yet reported	509.3	466.1	509.3	479.3
RFIG Run-off
Liability for Unpaid Claims and Claims Adjustment Expense
Net reserves at beginning of period				271.7	574
Provisions for insured events of the current year		43.7	277.6
Change in provision for insured events of prior years		(19.8)	(90.4)
Claims and claim adjustment expenses attributable to insured events of the current year		1.6	4.8
Claims and claim adjustment expenses attributable to insured events of prior years		87.3	144.6
Amount of reserves for unpaid claims and claim adjustment expenses at the end of each period, net of reinsurance losses recoverable	611.7	206.5	611.7
Current year estimated coverage rescissions and claims denials		0.7	5
Prior period estimated coverage rescissions and claims denials		(12.6)	(3.5)
Estimated reduction in paid losses from rescissions		3.5	10
Net reserves for claims that have been incurred but are not yet reported	327.3	29.6	327.3	30.5
Additional claim and related expenses	130		130
Other
Liability for Unpaid Claims and Claims Adjustment Expense
Net reserves at beginning of period				13.5	$ 13.8
Provisions for insured events of the current year		15.7	15.7
Change in provision for insured events of prior years		(3.2)	(1.6)
Claims and claim adjustment expenses attributable to insured events of the current year		10.6	9.8
Claims and claim adjustment expenses attributable to insured events of prior years		4.7	3.5
Amount of reserves for unpaid claims and claim adjustment expenses at the end of each period, net of reinsurance losses recoverable	14.4	10.6	14.4
Net reserves for claims that have been incurred but are not yet reported	$ 6.8	$ 4.5	$ 6.8	$ 4.7

Employee Benefit Plans Employee

Employee Benefit Plans Employee Savings and Stock Ownership Plan (Details) shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)shares
Retirement Benefits [Abstract]
stock acquired during period shares employee stock ownership plan | shares	1.7
stock acquired during period value employee stock ownership plan | $	$ 37.4

Information About Segments of_3

Information About Segments of Business (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information
Realized from actual transactions		$ 7.3	$ 35.8	$ 54.8	$ 57.5
Unrealized from changes in fair value of equity securities		128.4	0	17.7	0
Consolidated Revenues [Abstract]
Consolidated revenues		1,779.7	1,593	4,740.9	4,536.9
Net premiums earned		1,388.6	1,312	3,914.4	3,752.6
Title, escrow and other fees		116.2	121.4	341	344.6
Total premiums and fees		1,504.8	1,433.4	4,255.5	4,097.3
Total realized and unrealized investment gains (losses)		135.7	35.8	72.6	57.5
Total operating revenues		1,644	1,557.2	4,668.2	4,479.4
Consolidated Income (Loss) Before Taxes (Credits) [Abstract]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest		335.1	59.6	575.7	370.7
Total realized and unrealized investment gains (losses)		135.7	35.8	72.6	57.5
Consolidated Income Tax Expense (Credits) [Abstract]
Income tax expense (credits)		59.8	13.4	98.6	109.7
Income tax expense (credits) on consolidated net realized investment gains (losses)		28.5	12.5	15.2	20.1
Total Company Segments [Member]
Consolidated Revenues [Abstract]
Consolidated revenues		1,631.5	1,543.6	4,633.6	4,441.7
Consolidated Income (Loss) Before Taxes (Credits) [Abstract]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest		186.1	17.3	475.4	300.6
Consolidated Income Tax Expense (Credits) [Abstract]
Income tax expense (credits)		34.7	0.7	87.8	90.4
General Insurance Group [Member]
Segment Reporting Information
Hurricane-related claim costs			20		20
Consolidated Revenues [Abstract]
Net premiums earned		841.5	801.3	2,441.3	2,313.7
Net investment income and other income		116.3	100.4	344.4	313.9
Income (loss) before income taxes (credits) and realized investment gains or losses	[1],[2]	105.1	59.7	279.1	216.2
Total operating revenues		957.8	901.8	2,785.7	2,627.6
Consolidated Income Tax Expense (Credits) [Abstract]
Income tax expense (credits)		18	15.8	46.7	61.5
Interest charges on intercompany financing arrangements		17.9	14.3	49.9	42.7
Title Insurance Segment [Member]
Consolidated Revenues [Abstract]
Net premiums earned		524.5	475.4	1,402.5	1,325.8
Title, escrow and other fees		116.2	121.4	341	344.6
Total premiums and fees		640.7	596.8	1,743.6	1,670.5
Net investment income and other income		10	9.3	29.5	28.4
Income (loss) before income taxes (credits) and realized investment gains or losses	[2]	67.7	67.3	158.2	172.8
Total operating revenues		650.8	606.1	1,773.1	1,699
Consolidated Income Tax Expense (Credits) [Abstract]
Income tax expense (credits)		14	23.4	33.3	59.8
Interest charges on intercompany financing arrangements		1.5	1.9	4.6	6.3
RFIG Run-off Business [Member]
Consolidated Revenues [Abstract]
Net premiums earned		18.2	30.2	59.2	98.7
Net investment income and other income		4.6	5.4	15.4	16.4
Income (loss) before income taxes (credits) and realized investment gains or losses	[3]	13.3	(109.7)	38	(88.3)
Total operating revenues		22.8	35.6	74.7	115.1
Consolidated Income Tax Expense (Credits) [Abstract]
Income tax expense (credits)		2.6	(38.5)	7.7	(30.9)
Additional claim and related expenses			130		130
Other sources - net [Member]
Consolidated Revenues [Abstract]
Consolidated revenues	[4]	45.7	44	127.4	128.1
Consolidated Income (Loss) Before Taxes (Credits) [Abstract]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	[4]	13.1	6.5	27.6	12.4
Consolidated Income Tax Expense (Credits) [Abstract]
Income tax expense (credits)	[4]	(3.3)	0.1	(4.4)	(0.7)
Consolidation elimination adjustments [Member]
Consolidated Revenues [Abstract]
Consolidated revenues		$ (33.2)	$ (30.4)	$ (92.8)	$ (90.5)
[1]	General Insurance segment pretax operating income (loss) for the quarter and nine months ended September 30, 2017 include hurricane-related claim costs of $20.0.
[2]	Segment pretax operating income (loss) is reported net of interest charges on intercompany financing arrangements with Old Republic's holding company parent for the following segments: General - $17.9 and $49.9 compared to $14.3 and $42.7 for the quarters and nine months ended September 30, 2018 and 2017, respectively, and Title - $1.5 and $4.6 compared to $1.9 and $6.3 for the quarters and nine months ended September 30, 2018 and 2017, respectively.
[3]	RFIG Run-off segment pretax operating income (loss) for the quarter and nine months ended September 30, 2017 include additional claim and related expense provisions of $130.0 applicable to the final settlements and probable dispositions of all known litigated and other claim costs incurred by the Company's run-off Financial Indemnity business during the Great Recession years and their aftermath.
[4]	Represents amounts for Old Republic's holding company parent, minor corporate services subsidiaries, and a small life and accident insurance operation.

Information About Segments of_4

Information About Segments of Business Textuals (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)segment	Sep. 30, 2017USD ($)
Segment Reporting Information
Number of major segments | segment			3
General Insurance Group [Member]
Segment Reporting Information
Hurricane-related claim costs		$ 20		$ 20
Interest charges on intercompany financing arrangements	$ 17.9	14.3	$ 49.9	42.7
Title Insurance Segment [Member]
Segment Reporting Information
Interest charges on intercompany financing arrangements	$ 1.5	1.9	$ 4.6	6.3
RFIG Run-off Business [Member]
Segment Reporting Information
Additional claim and related expenses		$ 130		$ 130

Information About Segments of_5

Information About Segments of Business Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Millions		Sep. 30, 2018	Dec. 31, 2017
Segment Reporting, Asset Reconciling Item
Assets		$ 19,802.3	$ 19,403.5
General Insurance Group [Member]
Segment Reporting, Asset Reconciling Item
Assets		16,752.1	16,055.5
Title Insurance Segment [Member]
Segment Reporting, Asset Reconciling Item
Assets		1,470.1	1,466
RFIG Run-off Business [Member]
Segment Reporting, Asset Reconciling Item
Assets		765.9	805
Total Company Segments [Member]
Segment Reporting, Asset Reconciling Item
Assets		18,988.1	18,326.6
All Other Segments [Member]
Segment Reporting, Asset Reconciling Item
Assets	[1]	1,080	1,440.9
Intersegment Elimination [Member]
Segment Reporting, Asset Reconciling Item
Assets		$ (265.9)	$ (364)
[1]	Represents amounts for Old Republic's holding company parent, minor corporate services subsidiaries, and a small life and accident insurance operation.

Debt (Details)

Debt (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Fair value	$ 978.4	$ 1,673.2
Debt and Capital Lease Obligations	$ 981.1	1,448.7
Debt Conversion, Converted Instrument, Shares Issued	32,229,787
Convertible Senior Notes Due 2018
Debt Instrument [Line Items]
Fair value	$ 0	652.2
Debt and Capital Lease Obligations	0	$ 470.6
Debt Instrument, Interest Rate, Stated Percentage		3.75%
Senior Notes Due 2024
Debt Instrument [Line Items]
Fair value	411.6	$ 430.3
Debt and Capital Lease Obligations	$ 396.6	$ 396.2
Debt Instrument, Interest Rate, Stated Percentage	4.875%	4.875%
Senior Notes Due 2026 [Member]
Debt Instrument [Line Items]
Fair value	$ 527.8	$ 553.9
Debt and Capital Lease Obligations	$ 545.5	$ 545.1
Debt Instrument, Interest Rate, Stated Percentage	3.875%	3.875%
ESSOP Debt
Debt Instrument [Line Items]
Fair value	$ 0	$ 4.2
Debt and Capital Lease Obligations	0	4.2
Debt [Member]
Debt Instrument [Line Items]
Fair value	38.8	32.5
Debt and Capital Lease Obligations	$ 38.8	$ 32.4

Debt Financial Liabilities Disc

Debt Financial Liabilities Disclosed, but not Carried, at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 981.1	$ 1,448.7
Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	978.4	1,673.2
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	939.5	1,636.5
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	38.8	36.7
Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 981.1	$ 1,448.7

Income taxes (Details)

Income taxes (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Income Tax Disclosure [Abstract]
Tax Cut and Jobs Act Remeasurement	$ 42