Old Republic International Corporation (ORI) has reported 7.97 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $113.10 million, or $0.39 a share in the quarter, compared with $122.90 million, or $0.43 a share for the same period last year.
Revenue during the quarter went up marginally by 2.21 percent to $1,444.80 million from $1,413.50 million in the previous year period. Net premium earned for the quarter increased 4.44 percent or $55.30 million to $1,301 million.
Total expenses move up marginallyOperating income for the quarter was $164.70 million, compared with $182.30 million in the previous year period. Net investment income was at $101.20 million for the quarter, up 5.09 percent or $4.90 million from year-ago period.
Total assets stood at $18,905.40million as on Mar. 31, 2017. On the other hand, total liabilities were at $14,308.60 million as on Mar. 31, 2017.
Return on assets was at 0.68 percent in the quarter. At the same time, return on equity was at 2.46 percent in the quarter.
Investments move upInvestments stood at $13,167.50 million as on Mar. 31, 2017, up 10.76 percent or $1,278.80 million from year-ago. Meanwhile, yield on investments went down 4 basis points to 0.77 percent in the quarter. Meanwhile, reinsurance recoverables moved up 4.04 percent or $127.30 million over the year to $3,280.60 million on Mar. 31, 2017.
Total debt was at $1,525.50 million as on Mar. 31, 2017, up 55.30 percent or $543.20 million from year-ago. Shareholders equity was at $4,596.60 million as on Mar. 31, 2017. As a result, debt to equity ratio was at 0.33 percent in the quarter.
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