Old Republic Insurance Company is a leading provider of insurance products and services in the United States. With a rich history dating back to 1923, the company has established itself as a trusted and reliable partner for individuals, families, and businesses seeking protection against various risks. As a subsidiary of Old Republic International Corporation, a Fortune 500 company, Old Republic Insurance Company leverages its parent company's resources and expertise to offer a wide range of insurance solutions, including auto, home, life, and commercial insurance.
History and Evolution of Old Republic Insurance Company
Old Republic Insurance Company was founded in 1923 as a small insurance agency in Chicago, Illinois. Over the years, the company has undergone significant transformations, expanding its product offerings and geographic reach through strategic acquisitions and partnerships. In 1990, Old Republic International Corporation was formed as a holding company, and Old Republic Insurance Company became one of its primary subsidiaries. Today, the company operates in all 50 states, with a network of agents, brokers, and customer service representatives providing personalized support to policyholders.
Insurance Products and Services Offered by Old Republic Insurance Company
Old Republic Insurance Company offers a diverse portfolio of insurance products, including:
- Auto Insurance: Liability, collision, comprehensive, and personal injury protection coverage for private passenger vehicles
- Home Insurance: Property and liability coverage for homeowners, renters, and condominium owners
- Life Insurance: Term life, whole life, and universal life insurance policies for individuals and families
- Commercial Insurance: Liability, property, and workers’ compensation coverage for businesses and organizations
In addition to these core products, Old Republic Insurance Company also offers specialized insurance solutions, such as flood insurance, umbrella insurance, and identity theft protection.
| Insurance Product | Premium Volume (2022) |
|---|---|
| Auto Insurance | $1.23 billion |
| Home Insurance | $943 million |
| Life Insurance | $567 million |
| Commercial Insurance | $421 million |
Key Points
- Old Republic Insurance Company offers a comprehensive range of insurance products, including auto, home, life, and commercial insurance
- The company has a strong financial foundation, with a combined ratio of 95.6% in 2022
- Old Republic Insurance Company operates in all 50 states, with a network of agents, brokers, and customer service representatives
- The company has a long history of delivering exceptional customer service and claims handling, with a claims satisfaction rating of 92% in 2022
- Old Republic Insurance Company is a subsidiary of Old Republic International Corporation, a Fortune 500 company
Financial Performance and Ratings of Old Republic Insurance Company
Old Republic Insurance Company has consistently demonstrated strong financial performance, with a combined ratio of 95.6% in 2022. The company’s financial strength is reflected in its ratings from major credit rating agencies, including:
- A.M. Best: A+ (Superior)
- Moody’s: A2 (Good)
- Standard & Poor’s: A (Strong)
These ratings indicate that Old Republic Insurance Company has a strong ability to pay claims and meet its financial obligations, providing policyholders with added peace of mind and security.
Regulatory Compliance and Industry Involvement
Old Republic Insurance Company is committed to regulatory compliance and industry involvement, with active participation in various insurance industry organizations and trade associations. The company is a member of the National Association of Mutual Insurance Companies (NAMIC) and the Property Casualty Insurers Association of America (PCI), among others.
What types of insurance products does Old Republic Insurance Company offer?
+Old Republic Insurance Company offers a comprehensive range of insurance products, including auto, home, life, and commercial insurance, as well as specialized insurance solutions such as flood insurance and identity theft protection.
How does Old Republic Insurance Company handle claims?
+Old Republic Insurance Company has a dedicated claims handling team that provides personalized support to policyholders. The company has a claims satisfaction rating of 92% in 2022, reflecting its commitment to delivering exceptional customer service and claims handling.
What is the financial strength of Old Republic Insurance Company?
+Old Republic Insurance Company has a strong financial foundation, with a combined ratio of 95.6% in 2022. The company's financial strength is reflected in its ratings from major credit rating agencies, including A.M. Best, Moody's, and Standard & Poor's.
As a leading insurance provider, Old Republic Insurance Company is committed to delivering exceptional customer service, claims handling, and financial stability. With a rich history, a comprehensive range of insurance products, and a strong financial foundation, the company is well-positioned to meet the evolving needs of policyholders in a rapidly changing insurance landscape.
