form8k080108.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date of
Report: (Date of earliest event reported) August 1, 2008
OLD
REPUBLIC INTERNATIONAL CORPORATION
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(Exact
name of registrant as specified in its charter)
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Delaware
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001-10607
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36-2678171
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(State
or other jurisdiction
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(Commission
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(I.R.S.
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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307 North
Michigan Avenue, Chicago, Illinois 60601
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(Address
of principal executive offices) (Zip Code)
(312)
346-8100
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(Registrant’s
telephone number, including area code)
N/A
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(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the Registrant under any of the following
provisions (see General Instruction A.2 below):
o Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
140.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
2.02. Results
of Operations and Financial Condition
On August
1, 2008, Old Republic International Corporation (the “Company”) announced that
it had elected to simplify its financial accounting policies pertaining to the
recognition and timing of other-than-temporary impairments of equity investment
securities and had applied the process to its financial report covering the
quarter and six-month periods ended June 30, 2008. Accordingly, all unrealized
losses pertaining to any equity security whose market value has declined 20
percent or more from its previously recorded cost basis during any six month
calendar period will automatically be considered as other-than-temporarily
impaired in determining the Company’s net income. The net effect is a
re-characterization of certain net unrealized losses on certain securities
which, in the Company’s July 24, 2008 news release of earnings for the quarter
and six-month periods ended June 30, 2007 had been recognized in the Company’s
statement of comprehensive income and shareholders’ equity, and the recording of
an equivalent charge for realized investment losses in the consolidated
statements of income.
The full
text of the earnings release is included as Exhibit 99.1 hereto.
Item
9.01. Financial Statements and
Exhibits
(d)
Exhibits
99.1 Earnings Release dated August 1, 2008.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
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OLD
REPUBLIC INTERNATIONAL CORPORATION
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Registrant
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Date:
August 4, 2008
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By:
/s/ Karl W.
Mueller
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Karl
W. Mueller
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Senior
Vice President,
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Chief
Financial Officer, and
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Chief
Accounting Officer
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INDEX TO
EXHIBITS
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Exhibits
99.1
Earnings Release dated August 1, 2008.