Old Republic business insurance

Overview

Old Republic is a Chicago-based specialty insurance holding company whose business insurance comes from a set of semi-independent operating companies, each built around one industry or one line. Its NAIC group ranked No. 17 among U.S. business insurers by 2025 commercial lines direct premiums written, with $7.57 billion, based on NAIC market share data. Nearly all of the group's property-casualty premium is commercial. It ranks fourth nationally in commercial auto, sixth in aircraft, ninth in workers' compensation and tenth in excess workers' compensation. Commercial auto alone was $3.35 billion in 2025, most of it trucking.

Most buyers never see a policy that just says "Old Republic." They deal with the operating company: Great West (trucking), Old Republic Bitco (construction, energy and forest products), Old Republic Commercial Risk (the former PMA Companies, middle-market comp and casualty), Old Republic Risk Management (loss-sensitive programs for large accounts), Old Republic Aerospace, Old Republic Surety, Old Republic Professional, and newer units for E&S, inland marine, cyber, environmental and large-account property. The NAIC group's legal entities include Old Republic Insurance Company, Old Republic General Insurance Corporation, Great West Casualty, BITCO General and BITCO National, Old Republic Surety, Old Republic Union, and the Pennsylvania Manufacturers companies.

The parent, Old Republic International Corporation, trades on the New York Stock Exchange as ORI. Its other big business, Old Republic Title, is one of the largest U.S. title insurers but is not part of the commercial premium counted here. Craig R. Smiddy is president and CEO.

History

Old Republic dates to 1923. The company's own milestones list the 1978 acquisition of what became Old Republic Title, and 1985 as the year it formed Old Republic Risk Management and bought both Great West Casualty and BITCO (formerly Bituminous). It acquired PMA Capital of Blue Bell, Pennsylvania, in a deal that closed on October 1, 2010, adding a workers' compensation and casualty business.

Old Republic put its mortgage guaranty business into run-off in 2011 and sold the remaining RMIC companies to Arch Capital's mortgage unit in a deal that closed on June 3, 2024.

Since 2021 the company has grown mostly by starting new specialty units rather than buying them. Old Republic Accident & Health was formed in 2023, Old Republic Cyber in January 2025 and Old Republic Environmental in September 2025. In April 2026 it announced Old Republic Property, which the company called its seventh new specialty operating company since 2021; the company's site says it will begin writing in 2027.

Two 2026 changes affect what buyers see. On April 30, 2026, Old Republic refreshed its brands: PMA Companies became Old Republic Commercial Risk, BITCO Insurance Companies became Old Republic Bitco, Great West Casualty became "Great West, An Old Republic Company," and Old Republic Specialty Insurance Underwriters became Old Republic Alternative Markets. The insurance company names on policies did not change. In April 2026 the PMA third-party administrator also became a standalone company, Lodestar Claims & Risk Services. Separately, Old Republic completed its acquisition of Everett Cash Mutual, a Pennsylvania farmowners and agricultural insurer that demutualized to join the group, effective July 1, 2026.

Business insurance products

What you can buy depends on which operating company your broker approaches:

• Trucking (Great West): trucking liability, cargo, physical damage, general liability, occupational accident, umbrella and workers' comp, with 24-hour claims and safety services.
• Construction and energy (Old Republic Bitco): workers' comp, general liability, commercial auto, property, inland marine and umbrella for general and trade contractors, road builders, utility contractors, materials producers, forest products, onshore oil and gas and renewable energy.
• Middle-market casualty (Old Republic Commercial Risk): comp, auto and liability written on guaranteed-cost, dividend, retrospective, pre-funded deductible and large-deductible plans, with more than 25 years of captive experience.
• Large accounts (Old Republic Risk Management): large and matching deductibles, unbundled claims with an approved TPA, captive reinsurance and excess-of-SIR programs across all industries.
• Surety: contract bonds for single projects up to $100 million and aggregate programs up to $150 million, plus commercial, court, federal and fidelity bonds. See surety bonds explained: how they differ from insurance.
• Aviation (Old Republic Aerospace): hull and liability for business, commercial, agricultural and light aircraft, airports and aviation products. See aviation insurance for business aircraft owners and operators.
• Professional and management liability: D&O, EPL, fiduciary, crime and financial institution coverage (Old Republic Professional), lawyers professional liability for firms of up to 35 attorneys, and cyber and technology E&O with limits up to $10 million.
• Specialty: environmental liability, inland marine and builders risk, employer medical stop-loss, excess casualty, and public-entity and nonprofit pool reinsurance.
• E&S: Old Republic Excess & Surplus writes hard-to-place small and mid-sized property and casualty risks on an excess and surplus lines basis, only through wholesalers.

Who it insures

The center of gravity is mid-sized and larger accounts in trucking, construction, energy, manufacturing, healthcare, food and education, plus public entities and nonprofits through pools and programs. Old Republic Property targets Fortune 1000 and multinational property towers with up to $100 million of fire capacity per account. Small businesses mostly reach Old Republic through the E&S unit, Old Republic Lawyers Professional, surety, or the farm business acquired with Everett Cash Mutual. Old Republic Residual Markets also services assigned-risk workers' comp policies for state plans, which you might be placed with without choosing it.

Operating companies write across the United States from the group's Chicago, Illinois headquarters, and Old Republic Canada writes trucking and other lines in Canada.

How to buy

Old Republic does not sell direct and does not offer online quotes. Its operating companies work through independent agents and brokers; Old Republic Excess & Surplus accepts business only from wholesale brokers, program business comes through MGAs and program administrators, and Old Republic Property will deal only with global and select national retail brokers. In practice, a trucking fleet goes to an agent appointed with Great West, a contractor to a Bitco agent, and a large employer's broker approaches Commercial Risk or Risk Management. Certificates and policy service run through the producer and the operating company.

Claims

For any claim other than title, warranty or GAP, Old Republic's central claims number is 800-747-5256; the team routes the call to the operating company that issued the policy. Have the policy number, the state, and your relationship to the loss ready. Large-account clients can use their own approved TPA under Risk Management's unbundled programs, or Lodestar, the group's national TPA. Great West advertises 24-hour claims and safety services for trucking fleets.

Financial strength and ratings

Old Republic's ratings page lists A+ (Superior) from AM Best (as of April 2026), A+ (Strong) from S&P Global (as of November 12, 2025) and A2 from Moody's (as of September 26, 2025) for its main insurance companies, including Great West Casualty, BITCO General, Old Republic Insurance Company and PMA Insurance Group.

For 2025, the company reported Specialty Insurance net premiums earned of $5.18 billion, up 10.9%, and a segment combined ratio of 93.2%, against a target of 90% to 95% over a cycle. Consolidated net income was $935.4 million. The fourth quarter showed pressure points: Old Republic raised its 2025 accident-year commercial auto loss ratio by about 3 points after spotting higher loss trends in long-haul trucking liability, took a $17.6 million reserve charge for a credit loss on one large-deductible program whose collateral fell short, and saw Canadian trucking and travel premiums decline. Old Republic is not ranked in J.D. Power's small commercial study.

Strengths and weaknesses

Old Republic suits brokers placing specialist risks with a carrier that has been in trucking, construction and loss-sensitive comp for decades. It is less suited to a small business looking for a simple package policy.

• Strengths: A+ ratings from AM Best and S&P; deep, long-running specialty units (Great West since 1985, Bitco since 1985, PMA since 2010); full menu of loss-sensitive structures and captive support; a 93.2% specialty combined ratio in 2025.
• Weaknesses: No direct or online buying and limited small-business appetite outside E&S and niche units; heavy concentration in commercial auto, where it raised trucking loss estimates in late 2025; 2026 renamings (PMA, BITCO, Great West) can confuse buyers checking certificates; the decentralized structure means service, appetite and contacts differ by operating company.

Brokers often compare it with Great American Insurance Group and W. R. Berkley, which run similarly decentralized specialty units.

How to contact Old Republic