Despite a general decrease in interest rates, Old Republic, a leading title insurance firm, experienced a significant decline in net premiums and fees for their title insurance segment in the fourth quarter of 2023, resulting in a substantial decrease for the entire year. The company’s title segment faced challenges during the last three months of the year, leading to a 22.8% decline in annualized net premiums and fees. This contributed heavily to the overall 12.8% decrease in net premiums and fees for the entire year.
– Big Four title firm Old Republic witnessed a 22.8% annualized decline in net premiums and fees in their title insurance segment during Q4 2023.
– This decline played a major role in the company’s 12.8% decrease in net premiums and fees for the full year.
– Despite lower interest rates, the title segment faced difficulties, resulting in significant challenges for the company.
You can read this full article at: https://www.housingwire.com/articles/old-republic-records-12-8-decline-in-net-income-in-2023/(subscription required)
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