Old Republic receives member approval for Everett Cash Mutual acquisition

Old Republic  announced that members of Everett Cash Mutual Insurance Co. (ECM) approved the company’s conversion from a mutual insurer to a stock insurer, clearing the way for Old Republic’s acquisition of ECM Insurance Company and its subsidiaries.

The transaction is expected to close on July 1, 2026, following the filing of ECM’s amended and restated articles of incorporation in Pennsylvania.

Old Republic also completed a subscription offering to certain ECM members, employees, and non-employee directors, receiving approximately $25 million through the sale of common stock at $25.80 per share, a 35% discount to the company’s 10-day volume-weighted average trading price.

“We are excited to welcome the ECM Group and its employees and customers to Old Republic. ECM has built a strong reputation over many decades serving the commercial agricultural market with deep expertise and a commitment to disciplined underwriting. Those attributes are at the core of our specialty strategy, and we are excited about the opportunities ahead as we work together to build on that foundation.” – Craig R. Smiddy, President and CEO of Old Republic.