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UPDATE 1-Old Republic posts wider-than-expected Q3 loss

Thu Oct 22, 2009 10:05am EDT

Stocks

   

* Q3 oper loss $0.28/shr vs est loss $0.17/shr

* Posts operating revenue of $958.6 mln

* Net premiums earned decrease

Oct 22 (Reuters) - Insurance holding company Old Republic International Corp (ORI.N) posted a wider-than-expected third-quarter loss, hurt by a decrease in net premiums earned.

The Chicago-based insurer posted a quarterly loss of $46.2 million, or 20 cents a share, compared with a loss of $48.0 million, or 21 cents a share, a year earlier. Operating loss was 28 cents a share.

Analysts on average expected a loss of 17 cents a share, according to Thomson Reuters I/B/E/S.

Net premiums earned decreased 11 percent in the general insurance group and 6 percent in the mortgage guaranty group.

Shares of the company were up a percent at $11.61 Thursday morning on the New York Stock Exchange. (Reporting by Jochelle Mendonca in Bangalore; Editing by Ratul Ray Chaudhuri)



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