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Old Republic International Corporation Message Board

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  • ori.investor ori.investor Feb 15, 2012 1:48 PM Flag

    "If" is a big word

    The mortgage insurance runoff is projected to be cash flow positive:

    "As we continue to look at our expectations for the Mortgage Guaranty book as it runs off over its life, our standard premium deficiency model, which we talk about quarterly, continues to show that, that book of business should run-off positively over its remaining life."

    Since it has a very negative cash flow from it today, when that turns, it won't just end the drag on cash flow - it will add to it. And the other lines are already profitable.

    IMO the company is out of the woods in terms of whether or not it will return to sustained profitability. It's on track to do so. And in the meantime, the dividend looks safe. I think it's a great stock for patient, long-term investors.

 
ORI
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