Old Republic Announces Purchase of Large Risk Management Account Renewal Rights From Kemper

January 15, 2003

CHICAGO, Jan. 15 /PRNewswire-FirstCall/ -- Old Republic International Corporation (NYSE: ORI - News) announced that its wholly owned subsidiary, Old Republic Insurance Company, has reached a definitive agreement to purchase the renewal rights to certain large risk national accounts of the Kemper Insurance Companies.

Old Republic is purchasing the renewal rights to Kemper's unbundled risk management accounts and will not be assuming any liabilities incurred prior to any of its renewals. With unbundled accounts, the underwriting and policy issuance portion of a program is purchased from one insurer while ancillary services in support of that program can be obtained from another provider, usually a non-affiliated third party administrator (TPA). Based on a preliminary review, Old Republic understands that the subject book of business incorporates slightly more than 100 assureds and that gross premium volume before reinsurance cessions for the aggregate of most such accounts totals approximately $140 million on an annualized basis.

Source: Old Republic International Corporation


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.