Old Republic International (ORI) 10-Q 5 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2022 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-10607
Entity Registrant Name	OLD REPUBLIC INTERNATIONAL CORPORATION
Entity Central Index Key	0000074260
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-2678171
Entity Address, Address Line One	307 North Michigan Avenue
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601
City Area Code	312
Local Phone Number	346-8100
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock / $1 par value
Entity Common Stock, Shares Outstanding	308,937,054
Trading Symbol	ORI
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Jun. 30, 2022	Dec. 31, 2021
Available for sale:
Fixed income securities (at fair value) (amortized cost: $11,500.8 and $10,438.6)		$ 10,914.1	$ 10,675.7
Short-term investments (at fair value which approximates cost)		736.9	565.7
Total		11,651.1	11,241.4
Equity securities (at fair value) (cost: $2,937.1 and $3,766.5)		4,182.4	5,302.8
Other investments		31.2	32
Total investments		15,864.9	16,576.3
Other Assets:
Cash		100.8	158.1
Accrued investment income		94.1	84.4
Accounts and notes receivable		2,096	1,768.7
Federal income tax recoverable: Current		19.6	11.8
Reinsurance balances and funds held		351.1	258.1
Reinsurance recoverable: Paid losses		140	118.2
Reinsurance recoverable: Policy and claim reserves		5,411	4,825.1
Deferred policy acquisition costs		372.6	350.4
Sundry assets		844.8	830.3
Total Other Assets		9,430.5	8,405.5
Total Assets		25,295.4	24,981.8
Liabilities and Common Shareholders' Equity Liabilities:
Loss and loss adjustment expense reserves		11,905.4	11,425.5
Unearned premiums		2,937.3	2,559.4
Other policyholders' benefits and funds		192.4	192.6
Total policy liabilities and accruals		15,035.2	14,177.5
Commissions, expenses, fees, and taxes		512.5	573.5
Reinsurance balances and funds		1,177.3	866
Deferred Income Tax Liabilities, Net		17.2	249.5
Debt		1,594.5	1,588.5
Sundry liabilities		565.3	633.3
Total Liabilities		18,902.2	18,088.6
Preferred Stock	[1]	0	0
Common Shareholders' Equity:
Common stock	[1]	308.9	307.5
Additional paid-in capital		1,395.9	1,376.1
Retained earnings		5,341	5,214
Accumulated other comprehensive income (loss)		(576)	78
Unallocated ESSOP shares (at cost)		(76.6)	(82.5)
Total Common Shareholders' Equity		6,393.1	6,893.2
Total Liabilities, Preferred Stock and Common Shareholders' Equity		$ 25,295.4	$ 24,981.8
[1] At June 30, 2022 and December 31, 2021, 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 308,937,054 and 307,565,632 were issued as of June 30, 2022

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Available for sale:
Fixed maturity securities (amortized costs)	$ 11,500.8	$ 10,438.6
Equity securities - cost	2,937.1	3,766.5
Stockholders' Equity Attributable to Parent	$ 6,393.1	$ 6,893.2
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)	308,937,054	307,565,632
Common Class B [Member]
Available for sale:
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		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Net premiums earned		$ 1,887.4	$ 1,868.5	$ 3,716.1	$ 3,600.7
Title, escrow, and other fees		94.8	118.7	185.1	225.4
Total premiums and fees		1,982.3	1,987.3	3,901.3	3,826.2
Net investment income		107.8	107.6	214.1	211.9
Other income		37.6	37.8	73.9	74.1
Total operating revenues		2,127.8	2,132.8	4,189.4	4,112.4
Net investment gains (losses):
Realized from actual transactions and impairments		53.2	1	118.5	8.9
Equity Securities, FV-NI, Unrealized Gain (Loss)		(370.7)	119.9	(290.9)	487.4
Total realized and unrealized investment gains (losses)		(317.4)	120.9	(172.3)	496.4
Total revenues		1,810.3	2,253.7	4,017	4,608.8
Expenses:
Loss and loss adjustment expenses		635.6	615.8	1,240.1	1,213.8
Dividends to policyholders		3	9.1	6.5	14.5
Underwriting, acquisition, and other expenses		1,209.6	1,220.6	2,408.7	2,330.9
Interest and other charges		16.6	12.1	33.6	22.8
Total expenses		1,865	1,857.7	3,688.9	3,582.2
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest		(54.6)	396	328	1,026.6
Income Taxes (Credits):
Current		60.2	46.6	123.3	97.4
Deferred		(74.6)	32.9	(61.4)	110.6
Total		(14.4)	79.5	61.9	208
Net income (loss)		$ (40.1)	$ 316.4	$ 266.1	$ 818.5
Net Income (Loss) Per Share:
Net income (loss) per share: Basic (in dollars per share)		$ (0.13)	$ 1.06	$ 0.88	$ 2.73
Net income (loss) per share: Diluted (in dollars per share)		$ (0.13)	$ 1.05	$ 0.87	$ 2.72
Average shares outstanding: Basic (in shares)	[1]	303,793,432	299,934,621	303,695,113	299,831,932
Weighted Average Number of Shares Outstanding, Diluted, Total	[1]	303,793,432	302,328,012	305,312,529	301,381,955
[1](a) In calculating earnings per share, pertinent accounting standards 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. Such shares are issued and outstanding, and have the same voting and other rights applicable to all common shares.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (40.1)	$ 316.4	$ 266.1	$ 818.5
Unrealized gains (losses) on securities:
Unrealized gains (losses) on securities before reclassifications, not included in the statements of income	(356.1)	61.4	(889.4)	(180.9)
Amounts reclassified as realized investment gains from sales in the statements of income	38.6	(0.6)	60.4	(1)
Pretax unrealized gains (losses) on securities not included in the statements of income	(317.4)	60.7	(829)	(182)
Less: Deferred income taxes (credits)	(66.9)	12.7	(175)	(38.4)
Net unrealized gains (losses) on securities not included in the statements of income, net of tax	(250.4)	47.9	(654)	(143.6)
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	0.7	1.8	1.5	3.6
Pretax net adjustment related to defined benefit pension plans	0.7	1.8	1.5	3.6
Deferred income taxes (credits)	0.1	0.3	0.3	0.7
Net adjustment related to defined benefit pension plans, net of tax	0.6	1.4	1.2	2.9
Foreign currency translation adjustment	(5.5)	4	(1.3)	7
Total other comprehensive income (loss)	(255.3)	53.4	(654.1)	(133.6)
Comprehensive Income (Loss)	$ (295.5)	$ 369.8	$ (388)	$ 684.9

Consolidated Statements of Pref

Consolidated Statements of Preferred Stock and Common Shareholders' Equity - USD ($) $ in Millions		Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	AOCI Attributable to Parent	Unallocated ESSOP Shares
Balance at Dec. 31, 2020			$ 0	$ 304.1	$ 1,306.9	$ 4,394.8	$ 284	$ (103.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend reinvestment plan				0	1.4
Net issuance of shares under stock based compensation plans				1.5
APIC, Share-based Payment Arrangement, Recognition and Exercise					27.1
ESSOP shares released					2.1			5.9
Adjustments to Additional Paid in Capital, Other					0
Net income (loss)		$ 818.5				818.5
Dividends on common stock	[1]					(131.2)
Net unrealized gains (losses) on securities, net of tax		(143.6)					(143.6)
Net adjustment related to defined benefit pension plans, net of tax		2.9					2.9
Foreign currency translation adjustment		7					7
Balance at Jun. 30, 2021			0	305.7	1,337.6	5,082.1	150.4	(97.3)
Balance at Mar. 31, 2021			0	304.7	1,318.9	4,831.4	96.9	(100.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend reinvestment plan				0	0.2
Net issuance of shares under stock based compensation plans				0.9
APIC, Share-based Payment Arrangement, Recognition and Exercise					16.8
ESSOP shares released					1.5			2.9
Adjustments to Additional Paid in Capital, Other					0
Net income (loss)		316.4				316.4
Dividends on common stock	[1]					(65.7)
Net unrealized gains (losses) on securities, net of tax		47.9					47.9
Net adjustment related to defined benefit pension plans, net of tax		1.4					1.4
Foreign currency translation adjustment		4					4
Balance at Jun. 30, 2021			0	305.7	1,337.6	5,082.1	150.4	(97.3)
Balance at Dec. 31, 2021			0	307.5	1,376.1	5,214	78	(82.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend reinvestment plan				0	0.5
Net issuance of shares under stock based compensation plans				1.3
APIC, Share-based Payment Arrangement, Recognition and Exercise					16.4
ESSOP shares released					2.9			5.9
Adjustments to Additional Paid in Capital, Other					(0.1)
Net income (loss)		266.1				266.1
Dividends on common stock	[1]					(139.1)
Net unrealized gains (losses) on securities, net of tax		(654)					(654)
Net adjustment related to defined benefit pension plans, net of tax		1.2					1.2
Foreign currency translation adjustment		(1.3)					(1.3)
Balance at Jun. 30, 2022			0	308.9	1,395.9	5,341	(576)	(76.6)
Balance at Mar. 31, 2022			0	308.3	1,391.3	5,450.8	(320.7)	(79.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend reinvestment plan				0	0.2
Net issuance of shares under stock based compensation plans				0.6
APIC, Share-based Payment Arrangement, Recognition and Exercise					3.1
ESSOP shares released					1.3			2.9
Adjustments to Additional Paid in Capital, Other					(0.1)
Net income (loss)		(40.1)				(40.1)
Dividends on common stock	[1]					(69.6)
Net unrealized gains (losses) on securities, net of tax		(250.4)					(250.4)
Net adjustment related to defined benefit pension plans, net of tax		0.6					0.6
Foreign currency translation adjustment		$ (5.5)					(5.5)
Balance at Jun. 30, 2022			$ 0	$ 308.9	$ 1,395.9	$ 5,341	$ (576)	$ (76.6)
[1]Cash dividends per common share of $.23 and $.22 were declared for the quarters ended June 30, 2022 and 2021, respectively, and $.46 and $.44 were declared for the comparative six month periods.

Consolidated Statements of Pr_2

Consolidated Statements of Preferred Stock and Common Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Dividends on common share (in usd per share)	$ 0.23	$ 0.22	$ 0.46	$ 0.44

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income (loss)	$ 266.1	$ 818.5
Adjustments to reconcile net income (loss) to
Deferred policy acquisition costs	(22.1)	(18.3)
Premiums and other receivables	(327.2)	(234.7)
Loss and loss adjustment expense reserves	166.9	205.3
Unearned premiums and other policyholders' liabilities	104.6	46.1
Income taxes	(65.4)	89
Reinsurance balances and funds	196.4	168.7
Realized from actual transactions and impairments	(118.5)	(8.9)
Increase (Decrease) in Debt Securities, Trading, and Equity Securities, FV-NI	290.9	(487.4)
Accounts payable, accrued expenses and other	(88.4)	(62.7)
Total	403.2	515.4
Available for sale
Maturities and early calls	732.5	740.6
Sales	372.4	168.3
Proceeds from Sale of Equity Securities, FV-NI	1,045.8	197.7
Sales of:
Other investments	5.1	4.8
Purchases of:
Fixed income securities	(2,250.1)	(1,086.2)
Payments to Acquire Equity Securities, FV-NI	(37.7)	(850.5)
Other investments	(24.8)	(30.2)
Net decrease (increase) in short-term investments	(171.2)	115.7
Other - net	(7)	0
Total	(335)	(739.6)
Cash flows from financing activities:
Proceeds from Issuance of Senior Long-term Debt	0	642.5
Issuance of common shares	14.4	27.5
Redemption of debentures and notes	0	(19.5)
Dividends on common shares (including a special dividend paid in January 2021 of $304.0	(139)	(435.3)
Other - net	(0.9)	(0.6)
Total	(125.5)	214.7
Increase (decrease) in cash
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(57.3)	(9.4)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance	158.1	118.7
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance	100.8	109.2
Supplemental cash flow information:
Cash paid (received) during the period for: Interest	32.9	20.4
Cash paid (received) during the period for: Income taxes	$ 128	$ 119.2

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($)
Statement of Cash Flows [Abstract]
Special dividend paid in January 2021	$ 303.4

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Accounting Policies and Basis of Presentation	Summary of Significant Accounting Policies Accounting Principles - 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 2021 Annual Report on Form 10-K incorporated herein by reference. 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. Pertinent accounting and disclosure pronouncements issued from time to time by the FASB are adopted by the Company as they become effective. Statement Presentation - 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. Reclassifications are made in prior periods' financial statements whenever appropriate to conform to the most current presentation. Investments - The Company classifies its fixed income securities, also referred to as fixed maturity securities, as those it either (1) has the intent and ability to hold until maturity, (2) has available for sale or (3) has the intention of trading. The Company's entire fixed income portfolio is classified as available for sale. Fixed income securities classified as available for sale are reported at fair value with changes in such values, net of deferred income taxes, reflected directly in shareholders' equity. Equity securities are reported at fair value with changes in such values reflected as unrealized investment gains (losses) in the consolidated statements of income. Fair values are based on quoted market prices or estimates using values obtained from recognized independent pricing services. The status and fair value changes of each of the fixed income investments are reviewed at least once per quarter to assess whether a decline in fair value of an investment below its cost basis is the result of a credit loss. Credit losses are recorded through an allowance with the corresponding charge to realized investment gains (losses). If the Company intends to sell or is more likely than not required to sell a security, the asset is written down to fair value directly through realized investment gains (losses). Investment income is reported net of allocated expenses and includes appropriate adjustments for amortization of premium and accretion of discount on fixed income securities acquired at other than par value. Dividends on equity securities are credited to income on the ex-dividend date. At June 30, 2022, the Company and its subsidiaries did not have significant amounts of non-income producing fixed income or equity securities. 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 income securities, and cost in regard to equity securities; such bases apply to the specific securities sold. Revenue Recognition - Pursuant to GAAP applicable to the insurance industry, revenues are recognized as follows: Substantially all general insurance premiums pertain to annual policies and are reflected in income on a pro-rata basis in association with the related loss and loss adjustment expenses. Title premium and fee revenues stemming from the Company's direct operations (which include branch offices of its title insurers and wholly owned agency subsidiaries) represent approximately 21% of 2022 consolidated title business revenues. Such premiums are generally recognized as income at the escrow closing date which approximates the policy effective date. Fee income related to escrow and other closing services is recognized when the related services have been performed and completed. The remaining title premium and fee revenues are produced by independent title agents. Rather than making estimates that could be subject to significant variance from actual premium and fee production, the Company recognizes revenues from those sources upon receipt. Such receipts can reflect a three to four month lag relative to the effective date of the underlying title policy, and are offset concurrently by production expenses and loss reserve provisions. Loss and Loss Adjustment Expenses - The establishment of loss 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 possibility of higher or lower than anticipated loss 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 loss 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 losses in future years, may offset, in whole or in part, favorable or unfavorable loss developments for certain coverages such as workers' compensation, portions of which are written under loss sensitive programs that provide for such adjustments. Management 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 losses incurred. However, no representation is made nor is any guaranty given that ultimate net losses and related costs will not develop in future years to be significantly greater or lower than currently established reserve estimates. The Company’s accounting policy regarding the establishment of loss reserve estimates is described in Note 1 to the consolidated financial statements included in Old Republic’s 2021 Annual Report on Form 10-K. Certain loss related financial statement captions and disclosures reflect minor wording changes when compared to the Company's 2021 Annual Report on Form 10-K. Employee Benefit Plans - The Company has a closed pension plan (the "Plan") for certain employees under which benefits were frozen as of December 31, 2013. The underfunded status of the Plan is recognized as a net pension liability with offsetting entries reflected as a component of shareholders' equity in accumulated other comprehensive income, net of deferred taxes. The Company also provides long-term incentive awards to certain employees. In March 2022, the Compensation Committee of the Company's Board of Directors approved the grant of stock-based awards to certain employees under the 2022 Incentive Compensation Plan which received shareholder approval in May 2022.

Investments

Investments	6 Months Ended
	Jun. 30, 2022
Investments [Abstract]
Investment	Investments The amortized cost and estimated fair values by type and contractual maturity of fixed income 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 Gross Gross Estimated Fixed Income Securities by Type: June 30, 2022: U.S. & Canadian Governments $ 2,233.8 $ .9 $ 74.0 $ 2,160.6 Tax-exempt 908.1 1.6 5.7 904.0 Corporate 8,358.9 9.2 518.7 7,849.4 $ 11,500.8 $ 11.8 $ 598.5 $ 10,914.1 December 31, 2021: U.S. & Canadian Governments $ 2,121.6 $ 44.8 $ 7.9 $ 2,158.5 Tax-exempt 944.9 44.3 — 989.2 Corporate 7,372.1 220.0 64.2 7,527.9 $ 10,438.6 $ 309.2 $ 72.2 $ 10,675.7 Amortized Estimated Fixed Income Securities Stratified by Contractual Maturity at June 30, 2022: Due in one year or less $ 1,243.8 $ 1,241.5 Due after one year through five years 5,739.1 5,614.3 Due after five years through ten years 4,451.5 3,994.5 Due after ten years 66.2 63.6 $ 11,500.8 $ 10,914.1 The following table reflects the Company's gross unrealized losses and fair value, aggregated by category and length of time that individual securities have been in an unrealized loss position. Fair value and issuer's cost comparisons follow: Less than 12 Months 12 Months or Greater Total Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses June 30, 2022: Fixed Income Securities: U.S. & Canadian Governments $ 1,601.4 $ 39.7 $ 435.2 $ 34.3 $ 2,036.6 $ 74.0 Tax-exempt 578.2 5.7 — — 578.2 5.7 Corporate 5,738.1 335.3 992.3 183.3 6,730.4 518.7 $ 7,917.8 $ 380.7 $ 1,427.5 $ 217.7 $ 9,345.4 $ 598.5 Number of securities in unrealized loss position 1,413 222 1,635 December 31, 2021: Fixed Income Securities: U.S. & Canadian Governments $ 761.8 $ 6.2 $ 43.2 $ 1.6 $ 805.0 $ 7.9 Corporate 2,032.8 55.5 174.1 8.7 2,207.0 64.2 $ 2,794.7 $ 61.8 $ 217.3 $ 10.3 $ 3,012.0 $ 72.2 Number of securities in unrealized loss position 419 32 451 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 credit losses, the Company considers its intent and ability to continue to hold the securities until cost recovery, principally in consideration of its asset and liability maturity matching objectives. Net realized investment gains (losses) in the second quarter and first six months of 2022 included $2.5 of losses on fixed income securities for which the Company no longer intends to hold until recovery. No such losses were recognized during the same periods of 2021. The Company recorded no allowance for credit losses as of June 30, 2022, and December 31, 2021. The following table shows cost and fair value information for equity securities: Equity Securities Cost Gross Gross Estimated June 30, 2022 $ 2,937.1 $ 1,289.2 $ 43.9 $ 4,182.4 December 31, 2021 $ 3,766.5 $ 1,620.8 $ 84.5 $ 5,302.8 During the second quarter and first six months of 2022 and 2021, the Company recognized pretax unrealized investment gains (losses) of $(370.7) and $(290.9), respectively for 2022, and $119.9 and $487.4, respectively for 2021, 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 June 30, 2022 and 2021 were $(292.4) and $(154.6) for the second quarter and first six months of 2022, respectively, and $119.9 and $479.7 for the second quarter and first six months of 2021, 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: Level 1 inputs are based on quoted market prices in active markets; Level 2 observable inputs are based on corroboration with available market data; and Level 3 unobservable inputs are based on uncorroborated market data or a reporting entity's own assumptions. 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 fixed income 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) comparisons with other sources including the fair value estimates based on current market quotations, and with independent fair value estimates provided by the independent investment custodian. The independent pricing source obtains market quotations and actual transaction prices for securities that have quoted prices in active markets and uses their 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, 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 Level 3 assets as of June 30, 2022 and December 31, 2021. 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 June 30, 2022: Level 1 Level 2 Level 3 Total Available for sale: Fixed income securities: U.S. & Canadian Governments $ 1,521.0 $ 639.6 $ — $ 2,160.6 Tax-exempt — 904.0 — 904.0 Corporate — 7,838.9 10.5 7,849.4 Short-term investments 736.9 — — 736.9 Equity securities $ 4,180.6 $ — $ 1.7 $ 4,182.4 As of December 31, 2021: Available for sale: Fixed income securities: U.S. & Canadian Governments $ 1,453.8 $ 704.6 $ — $ 2,158.5 Tax-exempt — 989.2 — 989.2 Corporate — 7,517.4 10.5 7,527.9 Short-term investments 565.7 — — 565.7 Equity securities $ 5,300.8 $ — $ 1.9 $ 5,302.8 There were no transfers between Levels 1, 2 or 3 during the quarter ended June 30, 2022. 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 Six Months Ended June 30, June 30, 2022 2021 2022 2021 Investment income: Fixed income securities $ 73.3 $ 72.6 $ 139.6 $ 142.4 Equity securities 35.3 35.4 76.9 71.6 Short-term investments 1.1 — 1.2 — Other sources .5 .7 .8 .7 Gross investment income 110.4 108.9 218.5 214.9 Investment expenses 2.5 1.3 4.4 2.9 Net investment income $ 107.8 $ 107.6 $ 214.1 $ 211.9 Net investment gains (losses): Realized from actual transactions: Fixed income securities: Gains $ .1 $ 1.0 $ .1 $ 1.6 Losses (37.5) (.3) (59.3) (.5) Net (37.4) .6 (59.1) 1.0 Equity securities: Gains 106.6 .3 220.1 36.7 Losses (14.6) — (41.1) (28.8) Net 91.9 .3 179.0 7.8 Other investments, net 1.2 — 1.2 — Total realized from actual transactions 55.8 1.0 121.1 8.9 From impairments (2.5) — (2.5) — From unrealized changes in fair value of equity securities (370.7) 119.9 (290.9) 487.4 Total realized and unrealized investment gains (losses) (317.4) 120.9 (172.3) 496.4 Current and deferred income taxes (credits) (67.0) 25.4 (36.4) 105.0 Net of tax realized and unrealized investment gains (losses) $ (250.4) $ 95.5 $ (135.9) $ 391.3 Changes in unrealized investment gains (losses) reflected directly in shareholders' equity: Fixed income securities $ (314.6) $ 60.2 $ (822.0) $ (180.8) Less: Deferred income taxes (credits) (66.3) 12.6 (173.5) (38.1) (248.2) 47.6 (648.4) (142.6) Other investments (2.8) .4 (7.0) (1.2) Less: Deferred income taxes (credits) (.5) — (1.4) (.2) (2.2) .3 (5.5) (.9) Net changes in unrealized investment gains (losses), net of tax $ (250.4) $ 47.9 $ (654.0) $ (143.6)

Losses, Claims and Settlement E

Losses, Claims and Settlement Expenses	6 Months Ended
	Jun. 30, 2022
Insurance [Abstract]
Losses, Claims and Settlement Expenses	Note 3 - Loss and Loss Adjustment Expenses The following table shows changes in aggregate reserves for the Company's loss and loss adjustment expenses: Six Months Ended June 30, 2022 2021 Gross reserves at beginning of period $ 11,425.5 $ 10,671.0 Less: reinsurance losses recoverable 4,125.3 3,650.5 Net reserves at beginning of period: General Insurance 6,587.0 6,328.0 Title Insurance 594.2 556.1 RFIG Run-off 111.2 127.6 Other 7.6 8.6 Sub-total 7,300.2 7,020.4 Incurred loss and loss adjustment expenses: Provisions for insured events of the current year: General Insurance 1,238.7 1,191.6 Title Insurance 72.8 75.9 RFIG Run-off 7.3 7.9 Other 4.8 5.9 Sub-total 1,323.8 1,281.5 Change in provision for insured events of prior years: General Insurance (46.8) (48.2) Title Insurance (14.4) (13.5) RFIG Run-off (19.7) (3.3) Other (2.1) (2.3) Sub-total (83.1) (67.4) Total incurred loss and loss adjustment expenses 1,240.6 1,214.0 Payments: Loss and loss adjustment expenses attributable to insured events of the current year: General Insurance 291.5 276.5 Title Insurance 2.2 2.6 RFIG Run-off — — Other 2.2 3.0 Sub-total 296.1 282.2 Loss and loss adjustment expenses attributable to insured events of prior years: General Insurance 734.5 688.5 Title Insurance 34.1 27.8 RFIG Run-off 7.9 8.7 Other .9 1.1 Sub-total 777.5 726.2 Total payments 1,073.6 1,008.5 Net reserves at end of period: General Insurance 6,752.7 6,506.3 Title Insurance 616.2 588.1 RFIG Run-off 91.0 123.4 Other 7.1 8.0 Sub-total 7,467.2 7,226.0 Reinsurance losses recoverable 4,438.2 3,949.2 Gross reserves at end of period $ 11,905.4 $ 11,175.2 For the six months ended June 30, 2022, all operating segments experienced favorable loss reserve development. General Insurance favorable development continued in the commercial auto and workers' compensation lines of coverage. This was partially offset by unfavorable development in the financial indemnity (which includes public company D&O) line of coverage, stemming from large security class action claims activity occurring

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesTax 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. The Company classifies interest and penalties as income tax expense in the consolidated statement of income. The Company is not currently under audit by the IRS and 2018 and subsequent tax years remain open.

Common Share Data

Common Share Data	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Common Share Data	Net Income Per Share Consolidated basic earnings per share excludes the dilutive effect of common stock equivalents and is computed by dividing income (loss) available to common stockholders by the weighted-average number of common shares actually outstanding for the periods presented. Diluted earnings per share are similarly calculated with the inclusion of dilutive common stock equivalents. The following table provides a reconciliation of net income (loss) and the number of shares used in basic and diluted earnings per share calculations. Quarters Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Numerator: Basic and diluted earnings per share - income (loss) available to common stockholders $ (40.1) $ 316.4 $ 266.1 $ 818.5 Denominator: Basic earnings per share - weighted-average shares (a) 303,793,432 299,934,621 303,695,113 299,831,932 Effect of dilutive securities - stock based compensation awards — 2,393,391 1,617,416 1,550,023 Diluted earnings per share - adjusted weighted-average shares (a) 303,793,432 302,328,012 305,312,529 301,381,955 Earnings per share: Basic $ (.13) $ 1.06 $ .88 $ 2.73 Diluted $ (.13) $ 1.05 $ .87 $ 2.72 Anti-dilutive common stock equivalents excluded from earnings per share computations: Stock based compensation awards 10,876,599 — 2,670,000 350,000 __________ (a) In calculating earnings per share, pertinent accounting standards 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. Such shares are issued and outstanding, and have the same voting and other rights applicable to all common shares.

Credit Losses

Credit Losses	6 Months Ended
	Jun. 30, 2021
Credit Loss [Abstract]
Credit Loss, Financial Instrument	Credit Losses Credit losses on financial assets measured at amortized cost, primarily the Company’s reinsurance recoverables and accounts and notes receivable, are recognized based on estimated losses expected to occur over the life of the asset. The expected credit losses, and subsequent adjustment to such losses, are recorded through an allowance account that is deducted from the amortized cost basis of the financial asset, with the net carrying value of the asset presented on the consolidated balance sheets. The Company’s credit allowance was comprised of $16.0 related to reinsurance recoverables as of both June 30, 2022 and December 31, 2021, and $25.7 and $24.1 related to accounts and notes receivable, as of June 30, 2022 and December 31, 2021, respectively. The Company’s evaluation of credit allowances on available for sale fixed income securities is discussed further in Note 2. The Company is not exposed to material concentrations of credit risks as to any one issuer of investment securities.

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt Consolidated debt of Old Republic and its subsidiaries is summarized below: June 30, 2022 December 31, 2021 Carrying Fair Carrying Fair Senior Notes: 4.875% issued in 2014 and due 2024 $ 398.7 $ 407.0 $ 398.4 $ 435.8 3.875% issued in 2016 and due 2026 547.6 536.4 547.3 597.0 3.850% issued in 2021 and due 2051 642.7 493.0 642.6 702.9 Other miscellaneous debt 5.3 5.3 — — Total debt $ 1,594.5 $ 1,441.8 $ 1,588.5 $ 1,735.7 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 used 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 were classified within Level 3. The following table shows a summary of financial liabilities disclosed, but not carried at fair value, segregated among the various input levels described in Note 3 above: Carrying Fair Value Value Level 1 Level 2 Level 3 Financial Liabilities: Debt: June 30, 2022 $ 1,594.5 $ 1,441.8 $ — $ 1,436.5 $ 5.3 December 31, 2021 $ 1,588.5 $ 1,735.7 $ — $ 1,735.7 $ —

Commitments and Contingent Liab

Commitments and Contingent Liabilities Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities Legal Proceedings - 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. At June 30, 2022, the Company had no material non-claim litigation exposures in its consolidated business.

Information About Segments of B

Information About Segments of Business	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Information About Segments of Business	Information About Segments of BusinessThe Company is engaged in the single business of insurance underwriting and related services. It conducts its operations through a number of regulated insurance company subsidiaries organized into three major segments: General Insurance (property and liability insurance), Title Insurance and the Republic Financial Indemnity Group ("RFIG") Run-off. The results of a small life and accident insurance business are included within the Corporate & Other caption of this report. Old Republic's business is managed for the long run. In this context management's key objectives are to achieve highly profitable operating results over the long term, and to ensure balance sheet strength for the primary needs of the insurance subsidiaries' underwriting and related services business. In this view, the evaluation of periodic and long-term results excludes consideration of all investment gains (losses). Under GAAP, however, net income, inclusive of investment gains (losses), is the measure of total profitability. In management's opinion, the focus on income excluding investment gains (losses), also described herein as segment pretax operating income (loss), provides a better way to analyze, evaluate, and establish accountability for the results of the insurance operations. The inclusion of realized investment gains (losses) in net income can mask trends in operating results, because such realizations are often highly discretionary. Similarly, the inclusion of unrealized investment gains (losses) in equity securities can further distort such operating results with significant period-to-period fluctuations. The contributions of Old Republic's insurance industry segments to consolidated totals are shown in the following table. Quarters Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 General Insurance: Net premiums earned $ 943.5 $ 867.2 $ 1,854.5 $ 1,726.3 Net investment income and other income 121.0 124.7 239.4 245.6 Total revenues excluding investment gains (losses) $ 1,064.5 $ 991.9 $ 2,094.0 $ 1,972.0 Segment pretax operating income (loss) (a) $ 137.9 $ 123.4 $ 280.4 $ 264.2 Income tax expense (credits) $ 27.3 $ 23.5 $ 55.0 $ 50.9 Title Insurance: Net premiums earned $ 935.3 $ 990.0 $ 1,844.0 $ 1,851.0 Title, escrow and other fees 94.8 118.7 185.1 225.4 Sub-total 1,030.2 1,108.8 2,029.2 2,076.5 Net investment income and other income 11.4 11.3 22.9 22.1 Total revenues excluding investment gains (losses) $ 1,041.6 $ 1,120.2 $ 2,052.1 $ 2,098.7 Segment pretax operating income (loss) (a) $ 109.5 $ 138.9 $ 190.5 $ 242.6 Income tax expense (credits) $ 23.2 $ 29.1 $ 40.1 $ 51.0 RFIG Run-off: Net premiums earned $ 6.0 $ 8.5 $ 12.6 $ 17.7 Net investment income and other income 1.5 2.9 3.6 6.1 Total revenues excluding investment gains (losses) $ 7.6 $ 11.4 $ 16.2 $ 23.8 Segment pretax operating income (loss) $ 12.2 $ 7.5 $ 22.0 $ 12.4 Income tax expense (credits) $ 2.5 $ 1.4 $ 4.5 $ 2.3 Consolidated Revenues: Total revenues of Company segments $ 2,113.8 $ 2,123.6 $ 4,162.4 $ 4,094.6 Other sources (b) 48.2 36.7 93.6 71.8 Consolidated investment gains (losses): Realized from actual transactions and impairments 53.2 1.0 118.5 8.9 Unrealized from changes in fair value of equity securities (370.7) 119.9 (290.9) 487.4 Total realized and unrealized investment gains (losses) (317.4) 120.9 (172.3) 496.4 Consolidation elimination adjustments (34.2) (27.5) (66.7) (54.0) Consolidated revenues $ 1,810.3 $ 2,253.7 $ 4,017.0 $ 4,608.8 Consolidated Pretax Income (Loss): Total segment pretax operating income (loss) of Company segments $ 259.8 $ 269.8 $ 493.1 $ 519.3 Other sources - net (b) 3.0 5.1 7.3 10.8 Consolidated investment gains (losses): Realized from actual transactions and impairments 53.2 1.0 118.5 8.9 Unrealized from changes in fair value of equity securities (370.7) 119.9 (290.9) 487.4 Total realized and unrealized investment gains (losses) (317.4) 120.9 (172.3) 496.4 Consolidated income (loss) before income taxes (credits) $ (54.6) $ 396.0 $ 328.0 $ 1,026.6 Consolidated Income Tax Expense (Credits): Total income tax expense (credits) of Company segments $ 53.1 $ 54.1 $ 99.7 $ 104.2 Other sources - net (b) (.5) — (1.3) (1.3) Income tax expense (credits) on consolidated realized and unrealized investment gains (losses) (67.0) 25.4 (36.4) 105.0 Consolidated income tax expense (credits) $ (14.4) $ 79.5 $ 61.9 $ 208.0 June 30, December 31, 2022 2021 Consolidated Assets: General Insurance $ 21,017.3 $ 20,660.9 Title Insurance 2,076.3 2,234.2 RFIG Run-off 421.4 516.4 Total assets of company segments 23,515.1 23,411.6 Other assets (b) 1,970.8 1,716.3 Consolidation elimination adjustments (190.5) (146.1) Consolidated assets $ 25,295.4 $ 24,981.8 (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 - $16.5 and $32.6 compared to $15.9 and $31.8 for the quarters and six months ended June 30, 2022 and 2021, respectively, and Title - $.3 and $.8 compared to $.4 and $.9 for the quarters and six months ended June 30, 2022 and 2021, respectively. (b) Includes amounts for a small life and accident insurance business as well as those of the parent holding company and several internal corporate services subsidiaries.

Accounting Policies (Policies)

Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Accounting, Policy	Accounting Principles - 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 2021 Annual Report on Form 10-K incorporated herein by reference. 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. Pertinent accounting and disclosure pronouncements issued from time to time by the FASB are adopted by the Company as they become effective.
Consolidation, Policy	Statement Presentation - 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. Reclassifications are made in prior periods' financial statements whenever appropriate to conform to the most current presentation.
Investment, Policy	Investments - The Company classifies its fixed income securities, also referred to as fixed maturity securities, as those it either (1) has the intent and ability to hold until maturity, (2) has available for sale or (3) has the intention of trading. The Company's entire fixed income portfolio is classified as available for sale. Fixed income securities classified as available for sale are reported at fair value with changes in such values, net of deferred income taxes, reflected directly in shareholders' equity. Equity securities are reported at fair value with changes in such values reflected as unrealized investment gains (losses) in the consolidated statements of income. Fair values are based on quoted market prices or estimates using values obtained from recognized independent pricing services. The status and fair value changes of each of the fixed income investments are reviewed at least once per quarter to assess whether a decline in fair value of an investment below its cost basis is the result of a credit loss. Credit losses are recorded through an allowance with the corresponding charge to realized investment gains (losses). If the Company intends to sell or is more likely than not required to sell a security, the asset is written down to fair value directly through realized investment gains (losses). Investment income is reported net of allocated expenses and includes appropriate adjustments for amortization of premium and accretion of discount on fixed income securities acquired at other than par value. Dividends on equity securities are credited to income on the ex-dividend date. At June 30, 2022, the Company and its subsidiaries did not have significant amounts of non-income producing fixed income or equity securities. 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 income securities, and cost in regard to equity securities; such bases apply to the specific securities sold.
Insurance Premiums Revenue Recognition, Policy	Revenue Recognition - Pursuant to GAAP applicable to the insurance industry, revenues are recognized as follows: Substantially all general insurance premiums pertain to annual policies and are reflected in income on a pro-rata basis in association with the related loss and loss adjustment expenses. Title premium and fee revenues stemming from the Company's direct operations (which include branch offices of its title insurers and wholly owned agency subsidiaries) represent approximately 21% of 2022 consolidated title business revenues. Such premiums are generally recognized as income at the escrow closing date which approximates the policy effective date. Fee income related to escrow and other closing services is recognized when the related services have been performed and completed. The remaining title premium and fee revenues are produced by independent title agents. Rather than making estimates that could be subject to significant variance from actual premium and fee production, the Company recognizes revenues from those sources upon receipt. Such receipts can reflect a three to four month lag relative to the effective date of the underlying title policy, and are offset concurrently by production expenses and loss reserve provisions.
Unpaid Policy Claims and Claims Adjustment Expense, Policy	Loss and Loss Adjustment Expenses - The establishment of loss 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 possibility of higher or lower than anticipated loss 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 loss 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 losses in future years, may offset, in whole or in part, favorable or unfavorable loss developments for certain coverages such as workers' compensation, portions of which are written under loss sensitive programs that provide for such adjustments. Management 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 losses incurred. However, no representation is made nor is any guaranty given that ultimate net losses and related costs will not develop in future years to be significantly greater or lower than currently established reserve estimates. The Company’s accounting policy regarding the establishment of loss reserve estimates is described in Note 1 to the consolidated financial statements included in Old Republic’s 2021 Annual Report on Form 10-K. Certain loss related financial statement captions and disclosures reflect minor wording changes when compared to the Company's 2021 Annual Report on Form 10-K.
Postemployment Benefit Plans, Policy	Employee Benefit Plans - The Company has a closed pension plan (the "Plan") for certain employees under which benefits were frozen as of December 31, 2013. The underfunded status of the Plan is recognized as a net pension liability with offsetting entries reflected as a component of shareholders' equity in accumulated other comprehensive income, net of deferred taxes. The Company also provides long-term incentive awards to certain employees. In March 2022, the Compensation Committee of the Company's Board of Directors approved the grant of stock-based awards to certain employees under the 2022 Incentive Compensation Plan which received shareholder approval in May 2022.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2022
Investments [Abstract]
Amortized Cost and Estimated Fair Values Of Fixed Income Securities	The amortized cost and estimated fair values by type and contractual maturity of fixed income 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 Gross Gross Estimated Fixed Income Securities by Type: June 30, 2022: U.S. & Canadian Governments $ 2,233.8 $ .9 $ 74.0 $ 2,160.6 Tax-exempt 908.1 1.6 5.7 904.0 Corporate 8,358.9 9.2 518.7 7,849.4 $ 11,500.8 $ 11.8 $ 598.5 $ 10,914.1 December 31, 2021: U.S. & Canadian Governments $ 2,121.6 $ 44.8 $ 7.9 $ 2,158.5 Tax-exempt 944.9 44.3 — 989.2 Corporate 7,372.1 220.0 64.2 7,527.9 $ 10,438.6 $ 309.2 $ 72.2 $ 10,675.7
Amortized Cost and Estimated Fair Values Of Fixed Income Securities By Contractual Maturities	Amortized Estimated Fixed Income Securities Stratified by Contractual Maturity at June 30, 2022: Due in one year or less $ 1,243.8 $ 1,241.5 Due after one year through five years 5,739.1 5,614.3 Due after five years through ten years 4,451.5 3,994.5 Due after ten years 66.2 63.6 $ 11,500.8 $ 10,914.1
Gross Unrealized Losses and Fair Value, Aggregated	The following table reflects the Company's gross unrealized losses and fair value, aggregated by category and length of time that individual securities have been in an unrealized loss position. Fair value and issuer's cost comparisons follow: Less than 12 Months 12 Months or Greater Total Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses June 30, 2022: Fixed Income Securities: U.S. & Canadian Governments $ 1,601.4 $ 39.7 $ 435.2 $ 34.3 $ 2,036.6 $ 74.0 Tax-exempt 578.2 5.7 — — 578.2 5.7 Corporate 5,738.1 335.3 992.3 183.3 6,730.4 518.7 $ 7,917.8 $ 380.7 $ 1,427.5 $ 217.7 $ 9,345.4 $ 598.5 Number of securities in unrealized loss position 1,413 222 1,635 December 31, 2021: Fixed Income Securities: U.S. & Canadian Governments $ 761.8 $ 6.2 $ 43.2 $ 1.6 $ 805.0 $ 7.9 Corporate 2,032.8 55.5 174.1 8.7 2,207.0 64.2 $ 2,794.7 $ 61.8 $ 217.3 $ 10.3 $ 3,012.0 $ 72.2 Number of securities in unrealized loss position 419 32 451
Equity Securities Reflecting Reported Cost	The following table shows cost and fair value information for equity securities: Equity Securities Cost Gross Gross Estimated June 30, 2022 $ 2,937.1 $ 1,289.2 $ 43.9 $ 4,182.4 December 31, 2021 $ 3,766.5 $ 1,620.8 $ 84.5 $ 5,302.8
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 June 30, 2022: Level 1 Level 2 Level 3 Total Available for sale: Fixed income securities: U.S. & Canadian Governments $ 1,521.0 $ 639.6 $ — $ 2,160.6 Tax-exempt — 904.0 — 904.0 Corporate — 7,838.9 10.5 7,849.4 Short-term investments 736.9 — — 736.9 Equity securities $ 4,180.6 $ — $ 1.7 $ 4,182.4 As of December 31, 2021: Available for sale: Fixed income securities: U.S. & Canadian Governments $ 1,453.8 $ 704.6 $ — $ 2,158.5 Tax-exempt — 989.2 — 989.2 Corporate — 7,517.4 10.5 7,527.9 Short-term investments 565.7 — — 565.7 Equity securities $ 5,300.8 $ — $ 1.9 $ 5,302.8
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 Six Months Ended June 30, June 30, 2022 2021 2022 2021 Investment income: Fixed income securities $ 73.3 $ 72.6 $ 139.6 $ 142.4 Equity securities 35.3 35.4 76.9 71.6 Short-term investments 1.1 — 1.2 — Other sources .5 .7 .8 .7 Gross investment income 110.4 108.9 218.5 214.9 Investment expenses 2.5 1.3 4.4 2.9 Net investment income $ 107.8 $ 107.6 $ 214.1 $ 211.9 Net investment gains (losses): Realized from actual transactions: Fixed income securities: Gains $ .1 $ 1.0 $ .1 $ 1.6 Losses (37.5) (.3) (59.3) (.5) Net (37.4) .6 (59.1) 1.0 Equity securities: Gains 106.6 .3 220.1 36.7 Losses (14.6) — (41.1) (28.8) Net 91.9 .3 179.0 7.8 Other investments, net 1.2 — 1.2 — Total realized from actual transactions 55.8 1.0 121.1 8.9 From impairments (2.5) — (2.5) — From unrealized changes in fair value of equity securities (370.7) 119.9 (290.9) 487.4 Total realized and unrealized investment gains (losses) (317.4) 120.9 (172.3) 496.4 Current and deferred income taxes (credits) (67.0) 25.4 (36.4) 105.0 Net of tax realized and unrealized investment gains (losses) $ (250.4) $ 95.5 $ (135.9) $ 391.3 Changes in unrealized investment gains (losses) reflected directly in shareholders' equity: Fixed income securities $ (314.6) $ 60.2 $ (822.0) $ (180.8) Less: Deferred income taxes (credits) (66.3) 12.6 (173.5) (38.1) (248.2) 47.6 (648.4) (142.6) Other investments (2.8) .4 (7.0) (1.2) Less: Deferred income taxes (credits) (.5) — (1.4) (.2) (2.2) .3 (5.5) (.9) Net changes in unrealized investment gains (losses), net of tax $ (250.4) $ 47.9 $ (654.0) $ (143.6)

Losses, Claims and Settlement_2

Losses, Claims and Settlement Expenses (Tables)	6 Months Ended
	Jun. 30, 2022
Insurance [Abstract]
Schedule of Changes in Aggregate Reserves for Losses, Claims and Settlement Expenses	The following table shows changes in aggregate reserves for the Company's loss and loss adjustment expenses: Six Months Ended June 30, 2022 2021 Gross reserves at beginning of period $ 11,425.5 $ 10,671.0 Less: reinsurance losses recoverable 4,125.3 3,650.5 Net reserves at beginning of period: General Insurance 6,587.0 6,328.0 Title Insurance 594.2 556.1 RFIG Run-off 111.2 127.6 Other 7.6 8.6 Sub-total 7,300.2 7,020.4 Incurred loss and loss adjustment expenses: Provisions for insured events of the current year: General Insurance 1,238.7 1,191.6 Title Insurance 72.8 75.9 RFIG Run-off 7.3 7.9 Other 4.8 5.9 Sub-total 1,323.8 1,281.5 Change in provision for insured events of prior years: General Insurance (46.8) (48.2) Title Insurance (14.4) (13.5) RFIG Run-off (19.7) (3.3) Other (2.1) (2.3) Sub-total (83.1) (67.4) Total incurred loss and loss adjustment expenses 1,240.6 1,214.0 Payments: Loss and loss adjustment expenses attributable to insured events of the current year: General Insurance 291.5 276.5 Title Insurance 2.2 2.6 RFIG Run-off — — Other 2.2 3.0 Sub-total 296.1 282.2 Loss and loss adjustment expenses attributable to insured events of prior years: General Insurance 734.5 688.5 Title Insurance 34.1 27.8 RFIG Run-off 7.9 8.7 Other .9 1.1 Sub-total 777.5 726.2 Total payments 1,073.6 1,008.5 Net reserves at end of period: General Insurance 6,752.7 6,506.3 Title Insurance 616.2 588.1 RFIG Run-off 91.0 123.4 Other 7.1 8.0 Sub-total 7,467.2 7,226.0 Reinsurance losses recoverable 4,438.2 3,949.2 Gross reserves at end of period $ 11,905.4 $ 11,175.2

Common Share Data (Tables)

Common Share Data (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	The following table provides a reconciliation of net income (loss) and the number of shares used in basic and diluted earnings per share calculations. Quarters Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Numerator: Basic and diluted earnings per share - income (loss) available to common stockholders $ (40.1) $ 316.4 $ 266.1 $ 818.5 Denominator: Basic earnings per share - weighted-average shares (a) 303,793,432 299,934,621 303,695,113 299,831,932 Effect of dilutive securities - stock based compensation awards — 2,393,391 1,617,416 1,550,023 Diluted earnings per share - adjusted weighted-average shares (a) 303,793,432 302,328,012 305,312,529 301,381,955 Earnings per share: Basic $ (.13) $ 1.06 $ .88 $ 2.73 Diluted $ (.13) $ 1.05 $ .87 $ 2.72 Anti-dilutive common stock equivalents excluded from earnings per share computations: Stock based compensation awards 10,876,599 — 2,670,000 350,000 __________ (a) In calculating earnings per share, pertinent accounting standards 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. Such shares are issued and outstanding, and have the same voting and other rights applicable to all common shares.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Consolidated debt of Old Republic and its subsidiaries is summarized below: June 30, 2022 December 31, 2021 Carrying Fair Carrying Fair Senior Notes: 4.875% issued in 2014 and due 2024 $ 398.7 $ 407.0 $ 398.4 $ 435.8 3.875% issued in 2016 and due 2026 547.6 536.4 547.3 597.0 3.850% issued in 2021 and due 2051 642.7 493.0 642.6 702.9 Other miscellaneous debt 5.3 5.3 — — Total debt $ 1,594.5 $ 1,441.8 $ 1,588.5 $ 1,735.7
Fair Value, Debt Measured on Recurring Basis	The following table shows a summary of financial liabilities disclosed, but not carried at fair value, segregated among the various input levels described in Note 3 above: Carrying Fair Value Value Level 1 Level 2 Level 3 Financial Liabilities: Debt: June 30, 2022 $ 1,594.5 $ 1,441.8 $ — $ 1,436.5 $ 5.3 December 31, 2021 $ 1,588.5 $ 1,735.7 $ — $ 1,735.7 $ —

Information About Segments of_2

Information About Segments of Business (Tables)	6 Months Ended
	Jun. 30, 2022
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. Quarters Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 General Insurance: Net premiums earned $ 943.5 $ 867.2 $ 1,854.5 $ 1,726.3 Net investment income and other income 121.0 124.7 239.4 245.6 Total revenues excluding investment gains (losses) $ 1,064.5 $ 991.9 $ 2,094.0 $ 1,972.0 Segment pretax operating income (loss) (a) $ 137.9 $ 123.4 $ 280.4 $ 264.2 Income tax expense (credits) $ 27.3 $ 23.5 $ 55.0 $ 50.9 Title Insurance: Net premiums earned $ 935.3 $ 990.0 $ 1,844.0 $ 1,851.0 Title, escrow and other fees 94.8 118.7 185.1 225.4 Sub-total 1,030.2 1,108.8 2,029.2 2,076.5 Net investment income and other income 11.4 11.3 22.9 22.1 Total revenues excluding investment gains (losses) $ 1,041.6 $ 1,120.2 $ 2,052.1 $ 2,098.7 Segment pretax operating income (loss) (a) $ 109.5 $ 138.9 $ 190.5 $ 242.6 Income tax expense (credits) $ 23.2 $ 29.1 $ 40.1 $ 51.0 RFIG Run-off: Net premiums earned $ 6.0 $ 8.5 $ 12.6 $ 17.7 Net investment income and other income 1.5 2.9 3.6 6.1 Total revenues excluding investment gains (losses) $ 7.6 $ 11.4 $ 16.2 $ 23.8 Segment pretax operating income (loss) $ 12.2 $ 7.5 $ 22.0 $ 12.4 Income tax expense (credits) $ 2.5 $ 1.4 $ 4.5 $ 2.3 Consolidated Revenues: Total revenues of Company segments $ 2,113.8 $ 2,123.6 $ 4,162.4 $ 4,094.6 Other sources (b) 48.2 36.7 93.6 71.8 Consolidated investment gains (losses): Realized from actual transactions and impairments 53.2 1.0 118.5 8.9 Unrealized from changes in fair value of equity securities (370.7) 119.9 (290.9) 487.4 Total realized and unrealized investment gains (losses) (317.4) 120.9 (172.3) 496.4 Consolidation elimination adjustments (34.2) (27.5) (66.7) (54.0) Consolidated revenues $ 1,810.3 $ 2,253.7 $ 4,017.0 $ 4,608.8 Consolidated Pretax Income (Loss): Total segment pretax operating income (loss) of Company segments $ 259.8 $ 269.8 $ 493.1 $ 519.3 Other sources - net (b) 3.0 5.1 7.3 10.8 Consolidated investment gains (losses): Realized from actual transactions and impairments 53.2 1.0 118.5 8.9 Unrealized from changes in fair value of equity securities (370.7) 119.9 (290.9) 487.4 Total realized and unrealized investment gains (losses) (317.4) 120.9 (172.3) 496.4 Consolidated income (loss) before income taxes (credits) $ (54.6) $ 396.0 $ 328.0 $ 1,026.6 Consolidated Income Tax Expense (Credits): Total income tax expense (credits) of Company segments $ 53.1 $ 54.1 $ 99.7 $ 104.2 Other sources - net (b) (.5) — (1.3) (1.3) Income tax expense (credits) on consolidated realized and unrealized investment gains (losses) (67.0) 25.4 (36.4) 105.0 Consolidated income tax expense (credits) $ (14.4) $ 79.5 $ 61.9 $ 208.0 June 30, December 31, 2022 2021 Consolidated Assets: General Insurance $ 21,017.3 $ 20,660.9 Title Insurance 2,076.3 2,234.2 RFIG Run-off 421.4 516.4 Total assets of company segments 23,515.1 23,411.6 Other assets (b) 1,970.8 1,716.3 Consolidation elimination adjustments (190.5) (146.1) Consolidated assets $ 25,295.4 $ 24,981.8 (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 - $16.5 and $32.6 compared to $15.9 and $31.8 for the quarters and six months ended June 30, 2022 and 2021, respectively, and Title - $.3 and $.8 compared to $.4 and $.9 for the quarters and six months ended June 30, 2022 and 2021, respectively. (b) Includes amounts for a small life and accident insurance business as well as those of the parent holding company and several internal corporate services subsidiaries.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details)	Jun. 30, 2022
Accounting Policies [Abstract]
Title Premium And Fee Revenues Stemming From Direct Operations	21%

Investments Fixed Income Securi

Investments Fixed Income Securities by Type (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Fixed income securities (amortized cost)	$ 11,500.8	$ 10,438.6
Available for sale, Fixed income securities (estimated fair value)	10,914.1	10,675.7
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	0
U.S. & Canadian Governments [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Fixed income securities (amortized cost)	2,233.8	2,121.6
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	0.9	44.8
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	74	7.9
Available for sale, Fixed income securities (estimated fair value)	2,160.6	2,158.5
Tax-exempt [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Fixed income securities (amortized cost)	908.1	944.9
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	1.6	44.3
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	5.7	0
Available for sale, Fixed income securities (estimated fair value)	904	989.2
Corporate [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Fixed income securities (amortized cost)	8,358.9	7,372.1
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	9.2	220
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	518.7	64.2
Available for sale, Fixed income securities (estimated fair value)	7,849.4	7,527.9
Fixed Income Securities [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Fixed income securities (amortized cost)	11,500.8	10,438.6
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	11.8	309.2
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	598.5	72.2
Available for sale, Fixed income securities (estimated fair value)	$ 10,914.1	$ 10,675.7

Investments Fair Value (Details

Investments Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 4,182.4	$ 5,302.8
Available for sale, Fixed income securities	10,914.1	10,675.7
Short-term investments	736.9	565.7
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	736.9	565.7
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 income securities	2,160.6	2,158.5
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 income securities	1,521	1,453.8
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 income securities	639.6	704.6
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 income securities	0	0
Tax-exempt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, Fixed income securities	904	989.2
Tax-exempt [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, Fixed income securities	0	0
Tax-exempt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, Fixed income securities	904	989.2
Tax-exempt [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, Fixed income securities	0	0
Corporate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, Fixed income securities	7,849.4	7,527.9
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 income 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 income securities	7,838.9	7,517.4
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 income securities	10.5	10.5
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	4,182.4	5,302.8
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	4,180.6	5,300.8
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	$ 1.7	$ 1.9

Investments Net Investment Inco

Investments Net Investment Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Gain (Loss) on Securities [Line Items]
Gross investment income	$ 110.4	$ 108.9	$ 218.5	$ 214.9
Investment expenses	2.5	1.3	4.4	2.9
Net investment income	107.8	107.6	214.1	211.9
Net realized gains (losses)	(250.4)	95.5	(135.9)	391.3
Equity Securities, FV-NI, Unrealized Gain (Loss)	(370.7)	119.9	(290.9)	487.4
Total realized and unrealized investment gains (losses)	(317.4)	120.9	(172.3)	496.4
Current and deferred income taxes (credits)	(67)	25.4	(36.4)	105
Changes in unrealized investment gains (losses) on, fixed income securities	(317.4)	60.7	(829)	(182)
Less: Deferred income taxes (credits)	(66.9)	12.7	(175)	(38.4)
Unrealized Gain (Loss) on Investments	(250.4)	47.9	(654)	(143.6)
Debt Securities, Available-for-sale, Realized Gain	0.1	1	0.1	1.6
Debt Securities, Available-for-sale, Realized Loss	37.5	0.3	59.3	0.5
Debt Securities, Available-for-sale, Realized Gain (Loss)	(37.4)	0.6	(59.1)	1
Debt and Equity Securities, Realized Gain (Loss), Excluding Other-than-temporary Impairment	55.8	1	121.1	8.9
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Recognized in Earnings	(2.5)	0	(2.5)	0
Equity Securities [Member]
Gain (Loss) on Securities [Line Items]
Equity securities, gross realized gains	106.6	0.3	220.1	36.7
Equity securities, gross realized losses	(14.6)	0	(41.1)	(28.8)
Equity securities, net realized gains (losses)	91.9	0.3	179	7.8
Fixed Income Securities [Member]
Gain (Loss) on Securities [Line Items]
Changes in unrealized investment gains (losses) on, fixed income securities	(314.6)	60.2	(822)	(180.8)
Less: Deferred income taxes (credits)	(66.3)	12.6	(173.5)	(38.1)
Net changes in unrealized investment gains (losses)	(248.2)	47.6	(648.4)	(142.6)
Other long-term investments [Member]
Gain (Loss) on Securities [Line Items]
Changes in unrealized investment gains (losses) on, fixed income securities	(2.8)	0.4	(7)	(1.2)
Less: Deferred income taxes (credits)	(0.5)	0	(1.4)	(0.2)
Net changes in unrealized investment gains (losses)	(2.2)	0.3	(5.5)	(0.9)
Other Investments
Gain (Loss) on Securities [Line Items]
Investment gains (losses) - other investments	1.2	0	1.2	0
Fixed Income Securities [Member]
Gain (Loss) on Securities [Line Items]
Gross investment income	73.3	72.6	139.6	142.4
Equity Securities [Member]
Gain (Loss) on Securities [Line Items]
Gross investment income	35.3	35.4	76.9	71.6
Short-term Investments [Member]
Gain (Loss) on Securities [Line Items]
Gross investment income	1.1	0	1.2	0
Investments [Member]
Gain (Loss) on Securities [Line Items]
Gross investment income	$ 0.5	$ 0.7	$ 0.8	$ 0.7

Investments Textuals (Details)

Investments Textuals (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Net unrealized gains (losses) on securities, net of tax	$ (250.4)	$ 47.9	$ (654)	$ (143.6)
Equity Securities, FV-NI, Unrealized Gain (Loss)	(370.7)	119.9	(290.9)	487.4
Net Unrealized Gains Losses Recognized from Changes in Fair Value of Equity Securities Held	(292.4)	119.9	(154.6)	479.7
Changes in unrealized investment gains (losses) on, fixed income securities	(317.4)	$ 60.7	(829)	$ (182)
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0		$ 0		$ 0

Investments Fixed Income Secu_2

Investments Fixed Income Securities Stratified by Contractual Maturity (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Investments [Abstract]
Available for sale, Due in one year or less (amortized cost)	$ 1,243.8
Available for sale, Due after one year through five years (amortized cost)	5,739.1
Available for sale, Due after five years through ten years (amortized cost)	4,451.5
Available for sale, Due after ten years (amortized cost)	66.2
Available for sale, Fixed income securities (amortized cost)	11,500.8	$ 10,438.6
Available for sale, Due in one year or less (estimated fair value)	1,241.5
Available for sale, Due after one year through five years (estimated fair value)	5,614.3
Available for sale, Due after five years through ten years (estimated fair value)	3,994.5
Available for sale, Due after ten years (estimated fair value)	63.6
Available for sale, Fixed income securities (estimated fair value)	$ 10,914.1	$ 10,675.7

Investments Gross Unrealized Lo

Investments Gross Unrealized Losses and Fair Value (Details) $ in Millions	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Unrealized Losses, Less than 12 Months	$ 380.7	$ 61.8
Available for sale, Unrealized Losses, 12 Months or Greater	217.7	10.3
Available for sale, Unrealized Losses, Total	598.5	72.2
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	7,917.8	2,794.7
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	1,427.5	217.3
Debt Securities, Available-for-sale, Unrealized Loss Position	$ 9,345.4	$ 3,012
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions	1,635	451
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions	222	32
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions	1,413	419
U.S. & Canadian Governments [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Unrealized Losses, Less than 12 Months	$ 39.7	$ 6.2
Available for sale, Unrealized Losses, 12 Months or Greater	34.3	1.6
Available for sale, Unrealized Losses, Total	74	7.9
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	1,601.4	761.8
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	435.2	43.2
Debt Securities, Available-for-sale, Unrealized Loss Position	2,036.6	805
Tax-exempt [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Unrealized Losses, Less than 12 Months	5.7
Available for sale, Unrealized Losses, 12 Months or Greater	0
Available for sale, Unrealized Losses, Total	5.7
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	578.2
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	0
Debt Securities, Available-for-sale, Unrealized Loss Position	578.2
Corporate [Member]
Schedule of Available-for-sale and Held-to-maturity Securities [Table] [Line Items]
Available for sale, Unrealized Losses, Less than 12 Months	335.3	55.5
Available for sale, Unrealized Losses, 12 Months or Greater	183.3	8.7
Available for sale, Unrealized Losses, Total	518.7	64.2
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	5,738.1	2,032.8
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	992.3	174.1
Debt Securities, Available-for-sale, Unrealized Loss Position	$ 6,730.4	$ 2,207

Investments Equity Securities (

Investments Equity Securities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Equity securities - cost	$ 2,937.1	$ 3,766.5
Equity Securities, FV-NI	4,182.4	5,302.8
Equity Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Equity securities, gross unrealized gains	1,289.2	1,620.8
Equity securities, gross unrealized losses	43.9	84.5
Equity securities - cost	$ 2,937.1	$ 3,766.5

Losses, Claims and Settlement_3

Losses, Claims and Settlement Expenses (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments			$ 4,125.3	$ 3,650.5
Liability for Unpaid Claims and Claims Adjustment Expense
Gross reserves at beginning of period	$ 11,425.5	$ 10,671
Less: reinsurance losses recoverable	4,438.2	3,949.2
Net reserves at beginning of period			7,300.2	7,020.4
Provisions for insured events of the current year	1,323.8	1,281.5
Change in provision for insured events of prior years	(83.1)	(67.4)
Total incurred claims and claim adjustment expenses	1,240.6	1,214
Claims and claim adjustment expenses attributable to insured events of the current year	296.1	282.2
Claims and claim adjustment expenses attributable to insured events of prior years	777.5	726.2
Total payments	1,073.6	1,008.5
Amount of reserves for unpaid claims and claim adjustment expenses at the end of each period, net of reinsurance losses recoverable	7,467.2	7,226
Gross reserves at end of period	11,905.4	11,175.2
General Insurance
Liability for Unpaid Claims and Claims Adjustment Expense
Net reserves at beginning of period			6,587	6,328
Provisions for insured events of the current year	1,238.7	1,191.6
Change in provision for insured events of prior years	(46.8)	(48.2)
Claims and claim adjustment expenses attributable to insured events of the current year	291.5	276.5
Claims and claim adjustment expenses attributable to insured events of prior years	734.5	688.5
Amount of reserves for unpaid claims and claim adjustment expenses at the end of each period, net of reinsurance losses recoverable	6,752.7	6,506.3
Title Insurance
Liability for Unpaid Claims and Claims Adjustment Expense
Net reserves at beginning of period			594.2	556.1
Provisions for insured events of the current year	72.8	75.9
Change in provision for insured events of prior years	(14.4)	(13.5)
Claims and claim adjustment expenses attributable to insured events of the current year	2.2	2.6
Claims and claim adjustment expenses attributable to insured events of prior years	34.1	27.8
Amount of reserves for unpaid claims and claim adjustment expenses at the end of each period, net of reinsurance losses recoverable	616.2	588.1
RFIG Run-off
Liability for Unpaid Claims and Claims Adjustment Expense
Net reserves at beginning of period			111.2	127.6
Provisions for insured events of the current year	7.3	7.9
Change in provision for insured events of prior years	(19.7)	(3.3)
Claims and claim adjustment expenses attributable to insured events of the current year	0	0
Claims and claim adjustment expenses attributable to insured events of prior years	7.9	8.7
Amount of reserves for unpaid claims and claim adjustment expenses at the end of each period, net of reinsurance losses recoverable	91	123.4
Other
Liability for Unpaid Claims and Claims Adjustment Expense
Net reserves at beginning of period			$ 7.6	$ 8.6
Provisions for insured events of the current year	4.8	5.9
Change in provision for insured events of prior years	(2.1)	(2.3)
Claims and claim adjustment expenses attributable to insured events of the current year	2.2	3
Claims and claim adjustment expenses attributable to insured events of prior years	0.9	1.1
Amount of reserves for unpaid claims and claim adjustment expenses at the end of each period, net of reinsurance losses recoverable	$ 7.1	$ 8

Common Share Data (Details)

Common Share Data (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net income (loss)		$ (40.1)	$ 316.4	$ 266.1	$ 818.5
Average shares outstanding: Basic (in shares)	[1]	303,793,432	299,934,621	303,695,113	299,831,932
Weighted Average Number of Shares Outstanding, Diluted, Total	[1]	303,793,432	302,328,012	305,312,529	301,381,955
Net income (loss) per share: Basic (in dollars per share)		$ (0.13)	$ 1.06	$ 0.88	$ 2.73
Net income (loss) per share: Diluted (in dollars per share)		$ (0.13)	$ 1.05	$ 0.87	$ 2.72
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements		0	2,393,391	1,617,416	1,550,023
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		10,876,599	0	2,670,000	350,000
[1](a) In calculating earnings per share, pertinent accounting standards 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. Such shares are issued and outstanding, and have the same voting and other rights applicable to all common shares.

Credit Losses (Details)

Credit Losses (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Credit Loss [Abstract]
Reinsurance Recoverable, Allowance for Credit Loss	$ 16	$ 16
Accounts Receivable, Allowance for Credit Loss	$ 25.7	$ 24.1

Debt (Details)

Debt (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Fair value	$ 1,441.8	$ 1,735.7
Debt and Lease Obligation	1,594.5	1,588.5
Senior Notes Due 2024
Debt Instrument [Line Items]
Fair value	$ 407	$ 435.8
Debt Instrument, Interest Rate, Stated Percentage	4.875%	4.875%
Debt and Lease Obligation	$ 398.7	$ 398.4
Senior Notes Due 2026 [Member]
Debt Instrument [Line Items]
Fair value	$ 536.4	$ 597
Debt Instrument, Interest Rate, Stated Percentage	3.875%	3.875%
Debt and Lease Obligation	$ 547.6	$ 547.3
Senior Notes Due 2051
Debt Instrument [Line Items]
Fair value	$ 493	$ 702.9
Debt Instrument, Interest Rate, Stated Percentage	3.85%	3.85%
Debt and Lease Obligation	$ 642.7	$ 642.6
Other miscellaneous debt
Debt Instrument [Line Items]
Fair value	5.3	0
Debt and Lease Obligation	$ 5.3	$ 0

Debt Financial Liabilities Disc

Debt Financial Liabilities Disclosed, but not Carried, at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 1,594.5	$ 1,588.5
Fair value	1,441.8	1,735.7
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	1,436.5	1,735.7
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 5.3	$ 0

Information About Segments of_3

Information About Segments of Business (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Consolidated Revenues [Abstract]
Consolidated revenues		$ 1,810.3	$ 2,253.7	$ 4,017	$ 4,608.8
Total realized and unrealized investment gains (losses)		(317.4)	120.9	(172.3)	496.4
Consolidated Income (Loss) Before Taxes (Credits) [Abstract]
Total realized and unrealized investment gains (losses)		(317.4)	120.9	(172.3)	496.4
Consolidated Income Tax Expense (Credits) [Abstract]
Income tax expense (credits)		(14.4)	79.5	61.9	208
Income tax expense (credits) on consolidated net realized investment gains (losses)		(67)	25.4	(36.4)	105
Realized from actual transactions and impairments		53.2	1	118.5	8.9
Equity Securities, FV-NI, Unrealized Gain (Loss)		(370.7)	119.9	(290.9)	487.4
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest		(54.6)	396	328	1,026.6
Premiums Earned, Net		1,887.4	1,868.5	3,716.1	3,600.7
Title, escrow, and other fees		94.8	118.7	185.1	225.4
Total premiums and fees		1,982.3	1,987.3	3,901.3	3,826.2
Total Operating Revenues		2,127.8	2,132.8	4,189.4	4,112.4
General Insurance Group [Member]
Consolidated Income Tax Expense (Credits) [Abstract]
Income tax expense (credits)		27.3	23.5	55	50.9
Premiums Earned, Net		943.5	867.2	1,854.5	1,726.3
Net investment income and other income		121	124.7	239.4	245.6
Total Operating Revenues		1,064.5	991.9	2,094	1,972
Income (loss) before income taxes (credits) and realized investment gains or losses	[1]	137.9	123.4	280.4	264.2
Interest charges on intercompany financing arrangements		16.5	15.9	32.6	31.8
Title Insurance
Consolidated Income Tax Expense (Credits) [Abstract]
Income tax expense (credits)		23.2	29.1	40.1	51
Premiums Earned, Net		935.3	990	1,844	1,851
Title, escrow, and other fees		94.8	118.7	185.1	225.4
Total premiums and fees		1,030.2	1,108.8	2,029.2	2,076.5
Net investment income and other income		11.4	11.3	22.9	22.1
Total Operating Revenues		1,041.6	1,120.2	2,052.1	2,098.7
Income (loss) before income taxes (credits) and realized investment gains or losses	[1]	109.5	138.9	190.5	242.6
Interest charges on intercompany financing arrangements		0.3	0.4	0.8	0.9
RFIG Run-off Business [Member]
Consolidated Income Tax Expense (Credits) [Abstract]
Income tax expense (credits)		2.5	1.4	4.5	2.3
Premiums Earned, Net		6	8.5	12.6	17.7
Net investment income and other income		1.5	2.9	3.6	6.1
Total Operating Revenues		7.6	11.4	16.2	23.8
Income (loss) before income taxes (credits) and realized investment gains or losses		12.2	7.5	22	12.4
Total of major segments
Consolidated Income Tax Expense (Credits) [Abstract]
Income tax expense (credits)		53.1	54.1	99.7	104.2
All Other Segments [Member]
Consolidated Revenues [Abstract]
Consolidated revenues	[2]	48.2	36.7	93.6	71.8
Consolidated Income (Loss) Before Taxes (Credits) [Abstract]
Income (loss) before income taxes (credits)	[2]	3	5.1	7.3	10.8
Consolidated Income Tax Expense (Credits) [Abstract]
Income tax expense (credits)	[2]	(0.5)	0	(1.3)	(1.3)
Total Company Segments [Member]
Consolidated Revenues [Abstract]
Consolidated revenues		2,113.8	2,123.6	4,162.4	4,094.6
Consolidated Income (Loss) Before Taxes (Credits) [Abstract]
Income (loss) before income taxes (credits)		259.8	269.8	493.1	519.3
Consolidation elimination adjustments [Member]
Consolidated Revenues [Abstract]
Consolidated revenues		$ (34.2)	$ (27.5)	$ (66.7)	$ (54)
[1]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 - $16.5 and $32.6 compared to $15.9 and $31.8 for the quarters and six months ended June 30, 2022 and 2021, respectively, and Title - $.3 and $.8 compared to $.4 and $.9 for the quarters and six months ended June 30, 2022 and 2021, respectively.[2]Includes amounts for a small life and accident insurance business as well as those of the parent holding company and several internal corporate services subsidiaries.

Information About Segments of_4

Information About Segments of Business Textuals (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021 USD ($)
Segment Reporting Information
Number of major segments | segment			3
General Insurance Group [Member]
Segment Reporting Information
Interest charges on intercompany financing arrangements	$ 16.5	$ 15.9	$ 32.6	$ 31.8
Title Insurance
Segment Reporting Information
Interest charges on intercompany financing arrangements	$ 0.3	$ 0.4	$ 0.8	$ 0.9

Information About Segments of_5

Information About Segments of Business Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Millions		Jun. 30, 2022	Dec. 31, 2021
Segment Reporting, Asset Reconciling Item
Assets		$ 25,295.4	$ 24,981.8
Total Company Segments [Member]
Segment Reporting, Asset Reconciling Item
Assets		23,515.1	23,411.6
Intersegment Elimination [Member]
Segment Reporting, Asset Reconciling Item
Assets		(190.5)	(146.1)
General Insurance Group [Member]
Segment Reporting, Asset Reconciling Item
Assets		21,017.3	20,660.9
Title Insurance
Segment Reporting, Asset Reconciling Item
Assets		2,076.3	2,234.2
RFIG Run-off Business [Member]
Segment Reporting, Asset Reconciling Item
Assets		421.4	516.4
All Other Segments [Member]
Segment Reporting, Asset Reconciling Item
Assets	[1]	$ 1,970.8	$ 1,716.3
[1]Includes amounts for a small life and accident insurance business as well as those of the parent holding company and several internal corporate services subsidiaries.