LONDON (Thomson Financial) - Old Republic International Corp. Thursday swung
to a first-quarter net loss of $19 million, or 8 cents a share, from a profit of
$107.7 million, or 46 cents a share, in the same quarter a year ago.
The insurer said revenue for the three-month period fell 2.1% to $950.7
million.
The mean estimate of analysts polled by Thomson Reuters was for a loss of
two cents a share on revenue of $974 million.
The company attributed the loss to ongoing weakness in its housing-related
mortgage guaranty and title insurance lines.
It said its expects pressure on earnings to continue well into 2009.
mark.cotton@thomsonreuters.com
mc1/vj
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