A HISTORY OF GROWTH AND STABILITY

Old Republic traces its beginnings to 1923, although several acquired subsidiaries began operations much earlier. The Company is one of Americaís 50 largest shareholder-owned insurance businesses. It is primarily a commercial lines underwriter serving the insurance needs of a large number of organizations, including many of Americaís leading industrial and financial services institutions. Its 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 the mortgage guaranty and consumer credit insurance lines has devolved into a run-off operating mode in recent years.

For the beneficiaries of their insurance products and services, Old Republicís insurance subsidiaries provide quality assurance of the promises they make. For employees, the Company offers an environment of success in which they can pursue personal goals of professional and economic achievement in the context of Old Republic's business objectives.

Old Republicís record as a long-term investment compares very favorably within American industry. The Companyís performance reflects an entrepreneurial spirit, a necessary long-term orientation in the management of its business, and a corporate structure that promotes accountability and encourages the taking of prudent business risks. The Companyís common stock has a demonstrated history of long-term capital appreciation and a cash dividend payment record that now extends to 73 consecutive years. According to the most recent edition of Mergentís Dividend Achievers, Old Republic is one of just 100 qualifying companies, out of thousands considered, that have posted at least 25 consecutive years of annual dividend growth.

OLD REPUBLIC'S MULTIPLE LINES OF BUSINESS
2013 CONSOLIDATED PERCENTAGES(*)
  EQUITY CAPITAL REVENUES
GENERAL INSURANCE 85.2% 53.6%
TITLE INSURANCE 12.7% 38.1%
RFIG RUN-OFF BUSINESS -0.4%   7.1%
LIFE & ACCIDENT INSURANCE   2.5%   1.2%

* Before holding company parent & minor corporate service subsidiaries' accounts.