Old Republic International Corporation said it is forming a new operating company, Old Republic Property, Inc., to underwrite specialized property insurance products through a national retail broker distribution network.
The company will be led by Patrick Hagerty as president. Hagerty brings over 20 years of extensive property underwriting and leadership experience, with a track record of building and leading underwriting teams.
Craig R. Smiddy, CEO of Chicago-based Old Republic, said property insurance “aligns well with Old Republic’s long-standing strategy and focus on diversified growth in Specialty Insurance.”
Old Republic Property is the seventh new specialty operating company that Old Republic has launched since 2021, adding further diversification, depth, and underwriting talent to the Old Republic Specialty Insurance Group.
Related: Old Republic Starts New Company for Cyber, Tech E&O
SOURCE: Old Republic
Topics Excess Surplus Property
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