Investor Presentaiton
Millions
OLD REPUBLIC INTE
INTERNATIONAL CORPORATION
Run-Off Overview
Run-off reserves have diminished substantially, de-risking the business and driving excess capital creation
Mortgage insurance placed into run-off in 2011
Runoff reserves have declined to $91 million from a peak of $2 billion
□ Shareholders Equity stands at $327 million, reflecting $37 million, $100 million and $70
million extracted in 2020, 2021 and 2022, respectively
Run-off operations have developed favorably each of the last 6 years
Runoff Reserves
$2,500
$2,000
$1,500
$1,000
$500
$-
12
13
14
15
16
17 18 19 20
20
Runoff Shareholders Equity
$600
$500
$400
$327
Millions
$300
$200
$100
$-
$91
$(100)
21 6M22
12
13
14
15
16
17
18
19
20
21 6M22
21View entire presentation