Old Republic Surety Company

What Old Republic Surety Company does

Old Republic Surety Company, founded in 1986 through the consolidation of three surety companies under Old Republic International Corporation (NYSE: ORI), is a Wisconsin-based surety bond underwriter headquartered in Brookfield. The company writes two core product lines: Contract Bonds (bid, performance, payment, and maintenance bonds for construction contractors of all sizes, including projects requiring bonds in excess of $100M) and Commercial Bonds (court, federal, fidelity, license and permit, miscellaneous, and public official bonds), supported by specialized fidelity coverage such as ERISA and business services bonds. Distribution is exclusively through an appointed network of approximately 4,800 independent insurance agencies, accessed via the BONDSTAR digital portal, Agency Access login, FastBond credit-based expedited underwriting program, and an online payment system, with field underwriting and agent support delivered through regional branch offices led by Regional Vice Presidents.

The revenue model is built on recurring surety bond premiums paid by bondholders (typically renewing annually), with agents earning commissions on placements and on renewals via direct billing arrangements where the surety manages billing and collections. Pricing is quote-based for commercial contract bonds, unit-based for small commercial bonds (limits up to $250,000) and ERISA bonds (minimum $1,000, standard cap $500,000), and discounts are offered for three-year terms on business services bonds. Underwriting is relationship-driven, blending financial review with knowledge of construction industry personnel, longevity, and succession, supported by long-tenured staff (including 40-year veterans) and reinforced by an A+ (Superior) Financial Strength Rating from AM Best with a stable outlook.

Name

Old Republic Surety Company

Legal name

Old Republic Surety Company

Website

https://orsurety.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

101–250 employees

Short description

Old Republic Surety Company, founded in 1986, is a Wisconsin-based surety bond underwriter providing contract and commercial surety bonds through a network of approximately 4,800 independent insurance agencies nationwide. A wholly-owned subsidiary of Old Republic International Corporation (NYSE: ORI).

Ownership category

akta.pro rank

Product category

Surety Bond Underwriting

NAICS

Insurance Carriers and Related Activities (524), Finance and Insurance (52)

SIC

Surety Insurance (6351)

akta.pro primary industry

Contract Surety Bonds (FSAJAIAA)

akta.pro secondary industries

Commercial Surety Bonds (FSAJAIAB), License & Permit Bonds (FSAJAIAF)

Keywords

• Surety bond underwriting
• Contract bonds
• Commercial surety
• Fidelity bonds
• Insurance agency distribution

Headquarters

HQ city

Brookfield

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Surety Bond Premiums: Old Republic Surety earns revenue from underwriting surety bonds for contractors and businesses. Premiums are paid by bondholders with bonds typically renewing automatically each year. The company operates through independent insurance agents who earn commissions on placements.
2. Agency Commissions and Direct Billing: Agents earn renewal commissions through direct billing arrangements where the surety manages billing and collections while agents continue to earn commissions on renewals.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Old Republic Surety Company underwrites and issues surety bonds for contractors and commercial businesses, split between Contract Bonds (bid, performance, payment, and maintenance bonds for construction projects) and Commercial Bonds (license and permit, court, federal, fidelity, public official, and miscellaneous bonds). The company distributes exclusively through a network of approximately 4,800 independent insurance agencies nationwide using proprietary digital platforms such as BONDSTAR and FastBond to enable immediate bond issuance.

Product overview

Old Republic Surety Company provides a comprehensive surety bond portfolio through two core product lines: Contract Bonds for construction projects (bid bonds, maintenance bonds, payment bonds, performance bonds) and Commercial Bonds for business needs (court bonds, federal bonds, fidelity bonds, license and permit bonds, miscellaneous bonds, public official bonds). The company supports these products with digital platforms including FastBond for expedited credit-based bond issuance, BONDSTAR agent portal for online bond management, and direct billing services. Additional offerings include specialized fidelity coverage (ERISA bonds, business services bonds) and online payment capabilities. The company distributes through approximately 4,800 independent insurance agencies nationwide.

Differentiator

Problem solved

Functional benefit

Brands

• FastBond: Credit-based performance bonds program for smaller bid, performance, and payment bonds.
• BONDSTAR

Products and services

• Contract Bonds Surety bonds required for construction projects, including bid bonds, maintenance bonds, payment bonds, and performance bonds for contractors of all sizes working on public and private construction projects.
• Commercial Bonds Surety bonds for commercial business needs including court bonds, federal bonds, fidelity bonds, license and permit bonds, miscellaneous bonds, and public official bonds.
• Fidelity Bonds Protection against employee theft and dishonest acts, including business services bonds and ERISA bonds for retirement plan protection.
• FastBond Credit-based performance bond program enabling quick issuance of smaller bid, performance, and payment bonds through an expedited underwriting process with same-day issuance for many commercial bonds.
• BONDSTAR Online Portal Online portal for agents to access and manage commercial bond transactions, submit applications, and issue bonds electronically. Supports immediate issuance of business services bonds with limits up to $250,000 and electronic surety bonds through NMLS.
• Direct Bill Billing Service Billing arrangement where the surety manages billing and collections while appointed agents continue to earn renewal commissions on bonds they placed.
• Online Payment Portal Secure online payment portal allowing bondholders to pay premiums via credit card or ACH bank transfer with no service fee.

Quantifiable outcome

• Automated bond issuance enables same-day bonding for commercial surety products through immediate-issue programs
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• SuretyBonds.com: SuretyBonds.com is an online-direct surety provider offering commercial and contract bonds digitally. It represents an emerging digital-native channel that challenges the traditional agency model in which ORS distributes.

Broad incumbents

• Zurich Insurance — Surety: Zurich North America underwrites contract surety for large infrastructure and commercial construction through independent agents. Like ORS, it focuses on larger contractors but with the backing of a global insurance group.
• Travelers (Bond & Specialty Insurance): Travelers is one of the largest U.S. writers of surety bonds through its Bond & Specialty Insurance group, offering contract and commercial surety with national reach. It directly competes with Old Republic Surety for large contractor accounts and uses an independent agency distribution model.
• Chubb Limited — Surety: Chubb writes contract and commercial surety within its global P&C portfolio, targeting large commercial accounts. It overlaps with ORS on mid- to large-scale contract surety and competes for sophisticated contractors that require multi-line capacity.
• Hartford Financial Services — Surety: The Hartford operates a surety business within its commercial lines, writing contract and commercial surety. It competes for the same contractor and commercial obligor customers as ORS using an agency distribution model.
• Liberty Mutual Insurance — Surety: Liberty Mutual operates a large U.S. surety business underwriting contract and commercial bonds for contractors and commercial obligors. It serves the same customers as ORS via independent agents and competes head-to-head on large contract bond programs.

Direct peers

• Merchants Bonding Company: Merchants Bonding is a mutual surety specialist focused on contract and commercial surety distributed through independent agents. Its specialization, ratings, and agent-channel model closely parallel ORS's positioning in the U.S. surety market.
• International Fidelity Insurance Company: IFIC is a specialty surety carrier concentrating on fidelity, ERISA, and commercial surety bonds. It directly overlaps with ORS's commercial/fidelity bond offering for smaller commercial and public-entity bondholders, distributed through agents.
• CNA Surety: CNA Surety (including Western Surety) is a dedicated U.S. surety carrier offering contract, commercial, and fidelity bonds through independent agents. Its product mix and agency-channel go-to-market closely mirror ORS's, and former ORS staff have moved from CNA Surety, underscoring direct competition for talent and producers.

Others

• Aon (Surety Services): Aon's surety practice places contract and commercial surety bonds on behalf of contractor clients with multiple surety carriers including ORS competitors. While not an underwriter, Aon is an ecosystem partner that channels bond demand to carriers like ORS via independent and captive agency arrangements.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/orsurety
• Facebookfacebook.com/orsurety
• LinkedInlinkedin.com/company/old-republic-surety-company

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Old Republic Surety Company