Old Republic International's stock experienced a sharp pre-market decline of 6.09% on Thursday. The drop followed the company's release of its fourth-quarter financial results.
The specialty insurer reported adjusted earnings per share of $0.74 for the quarter, which fell short of the analyst consensus estimate of $0.88. This miss was attributed to higher loss ratios in its commercial auto insurance segment, which negatively impacted underwriting income. While the company's total operating revenues of $2.36 billion showed growth, the earnings disappointment was the primary driver behind the negative investor sentiment.
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