M&A - OLD REPUBLIC INTERNATIONAL CORP

Form Type: 11-K

Filing Date: 2025-01-28

Corporate Action: Merger

Type: New

Accession Number: 000007426025000006

Filing Summary: Old Republic International Corporation's profit-sharing plan was merged into the ORI 401(k) Savings and Profit Sharing Plan effective August 1, 2024. The Plan was frozen to new contributions in November 2023, in anticipation of the sale of Republic Mortgage Insurance Company and its subsidiaries to Arch U.S. MI Holdings Inc. This transaction closed on May 31, 2024, following necessary regulatory approvals. The merger involved the transfer of net assets amounting to $26,052,767. The financial statements reflect the net assets available for benefits as of August 1, 2024, with significant net deductions recorded due to withdrawals and administrative expenses. The financial audit concluded that the statements present fairly the net assets and changes in net assets available for benefits, aligning with accounting principles. The Plan's management indicates full compliance with IRS regulations and the absence of material excess contributions. Recent changes included a significant adjustment to the guaranteed interest account on the discontinuance of contributions, affecting the fair value of investments.