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ORI > SEC Filings for ORI > Form 8-K on 25-Oct-2013All Recent SEC Filings




Results of Operations and Financial Condition, Other Events, Fina

Item 2.02. Results of Operations and Financial Condition

On October 24, 2013, Old Republic International Corporation announced the results of its operations and its financial condition for the quarter ended September 30, 2013. The full text of the earnings release is included as Exhibit 99.1 hereto.

Item 8.01 Other Events

On October 24, 2013, Old Republic International Corporation (ORI) announced a plan of recapitalization by its mortgage guaranty subsidiary, RMIC Companies, Inc. (RMICC). Pursuant to this Plan, RMICC intends to raise new funds in the capital markets to primarily recapitalize its three mortgage insurance carriers. The additional capital is intended to enable these carriers to pay off all deferred claim obligations, to exit supervision by the North Carolina insurance regulators, and to resume the underwriting of new mortgage insurance business by early 2014. In connection with this transaction, it is expected ORI will contribute up to $50 million of this new capital. Completion of the transaction will be subject to market conditions and other factors, including certain regulatory approvals. The full text of this press release is included in Exhibit 99.2 hereto.

Item 9.01. Financial Statements and Exhibits

(c) Exhibits

99.1 Earnings Release dated October 24, 2013.
99.2 Press Release dated October 24, 2013.

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