CHICAGO, Aug. 27, 2015 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) today reported that its Board of Directors had completed an analysis of the votes cast at the Company's 2015 Annual Meeting of Shareholders. The analysis was centered on a shareholder proposal recommending that Old Republic adopt a majority voting standard for uncontested director elections in substitution for its existing plurality voting standard. As a result of this analysis and re-examination of the matter, the Board of Directors remains resolute in its conclusion that it is in the best interest of Old Republic and its shareholders to retain the Company's existing plurality voting standard for the election of directors. A letter to the Company's shareholders summarizing the analysis of the votes cast on the shareholder proposal and the Board of Directors' observations and conclusions relating thereto is available on the Company's website at www.oldrepublic.com.
About Old Republic
Chicago-based Old Republic International Corporation is one of the nation's 50 largest publicly held insurance organizations. Its most recent financial statements reflect consolidated assets of approximately $17.27 billion and common shareholders' equity of $3.93 billion, or $15.16 per share. Its current stock market valuation is approximately $4.04 billion, or $15.48 per share.
The Company is organized as an insurance holding company whose subsidiaries actively market, underwrite, and provide risk management services for a wide variety of coverages mostly in the general and title insurance fields. A long-term interest in mortgage guaranty and consumer credit indemnity lines has devolved to a run-off operating mode in recent years.
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Old Republic International Corporation
307 North Michigan Avenue
Chicago, IL 60601
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SOURCE Old Republic International Corporation