Old Republic International Plans 2026 Acquisition of Everett Cash Mutual Insurance

Old Republic International Corp. (ORI) has entered into a definitive agreement to acquire Everett Cash Mutual Insurance Co. (ECM) and its affiliates through a sponsored demutualization, with the transaction expected to close in 2026 pending regulatory and policyholder approval. ECM specializes in insuring small farmowners and select commercial agricultural operations across the U.S., reporting $237 million in direct premiums and $126 million in policyholders' surplus in 2024. ORI anticipates that the acquisition will be accretive to its book value per share and operating income per share, reflecting a strong strategic and cultural fit given ECM's underwriting expertise in the agricultural insurance market. Both companies' leadership expressed optimism about the partnership, highlighting the potential for sustained profitable growth and ECM's mission to become the leading farmowners carrier nationwide. The deal highlights ORI's intention to enhance its specialty insurance portfolio, particularly in the agricultural sector. Financial and legal advisors supported both sides in this transaction.