On October 23, 2025, Old Republic International Corporation (NYSE: ORI) announced today that it has entered into a definitive agreement to acquire Everett Cash Mutual Insurance Co. and its affiliated companies (ECM) following ECM’s conversion to a stock company in a sponsored demutualization transaction. The deal is pending regulatory and policyholder approval and is expected to close in 2026.
The acquisition expands ORI’s specialty insurance footprint into the farmowners and commercial agricultural market, a niche that complements the company’s existing portfolio of specialty lines. Management expects the transaction to be accretive to book value per share and operating income per share, reinforcing ORI’s long‑term value creation strategy.
ECM reported $237 million of direct written premium in 2024 and ended the year with a consolidated statutory policyholders’ surplus of $126 million, providing a solid financial foundation for the combined entity. The deal aligns with ORI’s disciplined underwriting and conservative reserving practices, positioning the company for continued profitability in a growing market segment.
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