Old Republic forms new insurance company

P&C specialty insruer Old Republic announced that it is forming a new operating company, Old Republic Property, to underwrite specialized property insurance products through a national retail broker distribution network.

The company will be led by Patrick Hagerty as President. A graduate of Villanova University, Hagerty brings over 20 years of extensive property underwriting and leadership experience.

Old Republic Property is the seventh new specialty operating company that Old Republic has launched since 2021.

“Property insurance is a core line that aligns well with Old Republic’s long-standing strategy and focus on diversified growth in Specialty Insurance. Patrick’s leadership experience, underwriting discipline, and cultural fit, together with Old Republic’s brand, resources, and financial strength, position Old Republic Property to build a high-quality specialty franchise over time.” – Craig R. Smiddy, Old Republic International’s President and Chief Executive Officer.