KENNESAW, Ga., May 1, 2015 /PRNewswire/ -- Phoenix Aviation Managers, Old Republic's exclusive aviation underwriting unit since 1983 is changing its name to Old Republic Aerospace, Inc.
The purpose of our name change is to better reflect our expanded capabilities to the aviation marketplace, while also aligning our company's brand identity with that of the Old Republic International Corporation (NYSE: ORI) family of companies. While our name is changing, our commitment to excellence is stronger than ever as we continue forward as Old Republic Aerospace. We will continue to provide premier aviation insurance solutions and develop new products and services all of which demonstrates our unwavering commitment to our insureds, agents, and brokers.
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 $17.20 billion and common shareholders' equity of $4.01 billion, or $15.48 per share. Its current stock market valuation is approximately $3.97 billion, or $15.21 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.