Run-Off Overview and Dividend Record
OLD REPUBLIC INTERNATIONAL CORPORATION
Consolidated Financial Trends
2021 results continued to demonstrate profitable growth and balance sheet strength
Dollars in millions, except per share
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
Total Operating Revenues
$
8,583
7,308
6,824 $
6,494 $
6,281 $
6,032 $
5,850 $
5,407 $
5,492 $ 5,084
Combined Ratio
89.9
93.3
95.3
94.9
96.9
94.8
96.1
99.4
95.2
110.0
Operating Income Per Share
$
3.08 $
2.24 $
1.84 $
1.86 $
1.11 $
1.46 $
1.28 $
0.84 $
1.25 $
(0.39)
Cash & Invested Assets
$
16,819 $
15,535 $
14,527 $ 13,187 $ 13,536 $
12,996 $
11,476 $
11,291 $ 11,109 $ 10,800
Shareholders' Equity
$
6,893 $
6,187 $
6,000 $
5,146 $
4,733 $
4,461 $
3,870 $
3,924 $
3,775 $
3,596
Book Value Per Share
$
22.76 $
20.75 $
19.98 $
17.23 $
17.72 $
17.16 $
14.98 $
15.15 $
14.64 $
14.03
Dividends Per Share (1)
$
2.38 $
1.84 $
1.80 $
0.78 $
1.76 $
0.75 $
0.74 $
0.73 $
0.72 $
0.71
(1) Includes special dividends of $1.50 in 2021 and $1.00 in 2020, 2019 and 2017
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