Old Republic International (NYSE: ORI) Acquires Everett Cash Mutual Insurance Co. to Expand Agricultural Focus
- Old Republic International is acquiring Everett Cash Mutual Insurance Co. to expand its agricultural insurance offerings.
- The acquisition is expected to enhance Old Republic's book value and operating income per share by 2026.
- Old Republic reported a net income of $279.5 million in Q3 2025, reflecting resilience and operational efficiency.
Old Republic International Expands Its Portfolio with Strategic Acquisition of Everett Cash Mutual Insurance Co.
Old Republic International Corporation (NYSE: ORI) solidifies its position in the insurance market by announcing a definitive agreement to acquire Everett Cash Mutual Insurance Co. (ECM) and its affiliates. This strategic move, pending regulatory and policyholder approvals, is set to enhance Old Republic’s offerings in the niche sector of insuring small farmowners and select commercial agricultural operations. With ECM operating across 48 states and the District of Columbia, the acquisition reflects Old Republic's commitment to broadening its reach within the agricultural insurance market, which is characterized by unique risks and opportunities. ECM reported $237 million in direct written premiums in 2024, alongside a consolidated statutory policyholders' surplus of $126 million, marking a strong foundation for this partnership.
The acquisition, expected to close in 2026, is anticipated to positively impact Old Republic’s book value per share and operating income per share. Craig R. Smiddy, President & CEO of Old Republic, emphasizes the strategic alignment between the two companies, noting ECM's dedication to underwriting excellence and its established reputation in the agricultural sector. This partnership aims to leverage Old Republic's extensive resources and operational expertise to further ECM's mission of becoming the leading farmowners carrier in the U.S. Randy Shaw, ECM's President & CEO, shares a vision of collaboration that promises to enhance service delivery and risk management solutions tailored to the agricultural community.
In conjunction with this acquisition announcement, Old Republic International also shares its third-quarter results for 2025, which reveal a net income of $279.5 million, a decrease from $338.9 million in the same quarter last year. Despite this decline, the company reports a net operating income of $196.7 million, reflecting a 7.7% increase year-over-year. Consolidated net premiums and fees earned reached $2.1 billion, showcasing an 8.1% growth compared to the previous year. These results highlight Old Republic's resilience and robust performance, indicating that the company continues to thrive through strategic initiatives and operational efficiency.
Old Republic International, a Fortune 500 member, is recognized for its expertise in property & casualty as well as title insurance, offering tailored risk management solutions across North America. As the company moves forward with the ECM acquisition, it remains focused on enhancing its service offerings while delivering value to its shareholders. With a strong financial foundation, Old Republic is well-positioned to navigate the evolving insurance landscape and capitalize on emerging opportunities within the agricultural sector.
