Old Republic Will Post Tax Charges of $25.5M

Old Republic International Corporation (NYSE: ORI), yesterday announced that it would record special post tax charges of approximately $25.5 million, or 14 cents per share in its fourth quarter and year end 2004 results due to be released on Thursday, January 27, 2005. Nearly 75 percent of the charge represents an increase of reserves previously posted and stems from a ruling on January 20 by the California Court of Appeals affirming a prior trial court verdict against Old Republic Title Company. The remainder covers a write down of previously deferred acquisition costs applicable to...