What Old Republic Excess & Surplus does

Old Republic Excess & Surplus (ORES) is a US-domiciled Excess & Surplus (E&S) lines insurance underwriting company and wholly owned subsidiary of Old Republic International Corporation (NYSE: ORI), a Fortune 500 insurance conglomerate. Founded in 2022 and headquartered at One Stamford Plaza in Stamford, Connecticut, ORES underwrites non-admitted property and casualty coverage for hard-to-place small-to-medium-sized commercial risks that fall outside standard admitted-market underwriting guidelines. The company is rated A+ (Superior) by AM Best, reflecting the financial strength of its parent organization.

ORES operates three product units: Property Brokerage (up to $30M capacity per risk, $100M maximum TIV, with geographic restrictions in TX, LA, MS, AL, HI, AK and ex-wind in FL), Casualty Brokerage (available in all 50 states, with ISO and tailored manuscript forms), and Contract Binding (binding authority for small risks with $500 minimum premium). All products are distributed exclusively through appointed wholesale brokers rather than directly to retail insureds. The company has built a multi-state underwriting field organization spanning at least seven states with a headcount of approximately 20 employees.

Revenue is generated through insurance premiums on a non-admitted basis, with pricing structured on annual subscription terms and varying by product line. The technology platform includes an Okta-authenticated agent portal enabling submission management, quoting, binding, and policy handling for appointed wholesalers, plus a dedicated contract binding system for small-to-medium risks. Equipment Breakdown Coverage is offered as an add-on through a partnership with Hartford Steam Boiler (HSB). The company serves nine vertical segments including contractors, hospitality, manufacturing, real estate/habitational, vacant buildings, warehousing, and lessor's risk.

Name

Old Republic Excess & Surplus

Legal name

Old Republic Excess & Surplus, Inc.

Website

https://oldrepubliceands.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Old Republic Excess & Surplus is an E&S (non-admitted) property and casualty insurance underwriting subsidiary of Old Republic International (NYSE: ORI), distributing exclusively through appointed wholesale brokers for hard-to-place small-to-medium commercial risks across the United States.

Ownership category

akta.pro rank

Product category

Excess & Surplus Insurance

akta.pro primary industry

Excess Casualty (Lead/Umbrella/XS) (FSAJAGAA)

akta.pro secondary industry

Wholesale Insurance Brokerage (Excess & Surplus Lines) (FSAEADAD)

Keywords

• Excess surplus insurance
• Wholesale insurance brokerage
• Non-admitted insurance
• Commercial property insurance
• Commercial casualty insurance

Headquarters

HQ city

Stamford

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. E&S Insurance Premiums: ORES generates revenue through insurance premiums for non-admitted property and casualty coverage. The company provides coverage on a non-admitted basis for hard-to-place small to medium-sized business risks, distributed exclusively through wholesale brokers.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Old Republic Excess & Surplus (ORES) is an E&S (Excess & Surplus) underwriting company that provides non-admitted property and casualty insurance coverage for hard-to-place small to medium-sized business risks. It distributes products exclusively through appointed wholesale brokers via three units: Property Brokerage, Casualty Brokerage, and Contract Binding, offering tailored solutions, flexible deductibles, and capacity up to $30M per risk.

Product overview

Old Republic Excess & Surplus operates as an E&S (Excess & Surplus) underwriting company serving the wholesale community through Property Brokerage, Casualty Brokerage, and Contract Binding units. The Property Brokerage and Casualty Brokerage products handle brokerage submissions for hard-to-place commercial risks, while Contract Binding provides bound coverage for small to medium-sized risks through an agent portal. All three offerings serve the wholesale distribution channel exclusively, focusing on non-admitted property and casualty coverage for unique insurance needs.

Differentiator

Problem solved

Functional benefit

Products and services

• Property Brokerage Commercial Property insurance coverage for hard-to-place small to medium-sized risks, offering up to $30M capacity per risk, $100M maximum TIV per policy, and Equipment Breakdown Coverage through Hartford Steam Boiler. Coverage excludes TX, LA, MS, AL, HI & AK, and is ex-wind only in FL. Distributed exclusively through appointed wholesale brokers.
• Casualty Brokerage Commercial Casualty insurance for hard-to-place small to medium-sized risks, providing General Liability coverage with bundled offerings including Blanket Additional Insureds, Waiver of Subrogation, and Per Project Aggregates. Coverage available in all 50 states via ISO AI and Tailored Manuscript Forms. Distributed exclusively through appointed wholesale brokers.
• Contract Binding E&S binding unit providing General Liability and Commercial Property coverage for hard-to-place small to medium-sized risks via an agent portal, with $500 minimum deductible and $500 minimum premium. Primary GL limits up to $5M occurrence and $5M aggregate; Property coverage up to $5M TIV per location. Short and annual terms available.

Quantifiable outcome

• Capacity up to $30M per risk for property brokerage coverage
• +2 more outcomes

Segments9 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature2 records

Partnerships

One partnership is on record.

• Old Republic International CorporationcoreStrategic or Co-development PartnerORES is a subsidiary of Old Republic International Corporation (NYSE: ORI), one of the nation's 50 largest shareholder-owned insurance businesses and a Fortune 500 company. The parent company provides financial strength, corporate governance, and access to Old Republic's broader property and casualty insurance capabilities.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Kinsale Capital Group: Kinsale Capital is a publicly traded specialty insurer focused exclusively on the E&S market, underwriting property and casualty through wholesale and program distribution. It is the most direct comparable to ORES given its E&S-only mandate and wholesale-broker-led model.
• Admiral Insurance Group: Admiral Insurance Group writes E&S property and casualty for hard-to-place commercial risks through wholesale brokers. As a specialty E&S underwriter serving similar classes, Admiral is a directly comparable peer to ORES.
• Skyward Specialty Insurance Group: Skyward Specialty is a specialty P&C insurer writing E&S property and casualty through wholesale brokers and managing general agents. Its product set (commercial property, GL, excess) and distribution overlap with ORES make it a closely comparable specialty operator.
• Burns & Wilcox: Burns & Wilcox is the largest specialized wholesale insurance broker in North America, placing E&S property and casualty coverage for retail brokers. It sits on ORES' distribution side but competes for the same hard-to-place risk placements.
• RPS Insurance Group: RPS Insurance Group is a major wholesale broker specializing in E&S placement for property, casualty, and specialty lines. As a wholesale-only distribution competitor that ORES and its broker partners routinely transact with, RPS is a relevant peer for understanding the channel.
• James River Group Holdings: James River Group operates an excess and surplus lines insurance subsidiary writing specialty casualty and property through wholesale distributors. Both companies serve hard-to-place risks via wholesale broker networks, making James River a relevant E&S peer.

Broad incumbents

• Tokio Marine HCC: Tokio Marine HCC is a large specialty insurance group writing E&S and excess casualty through wholesale and program channels. Its specialty P&C book overlaps with ORES' casualty and excess offerings, making it a relevant broader incumbent peer.
• Everest Group: Everest Group is a global specialty P&C insurer with substantial E&S and excess casualty capacity distributed through wholesale producers. Its specialty insurance segment directly parallels ORES' excess/property/casualty E&S business.
• Markel Group: Markel is a large specialty insurer with significant E&S property and casualty operations distributed through wholesale brokers. While much larger and more diversified, Markel's wholesale E&S business overlaps directly with ORES' core offering and target classes.

Emerging players

• Accelerant Holdings: Accelerant is a data-enabled specialty insurance platform that connects capital with managing general underwriters writing E&S lines through wholesale distributors. While structured differently, it represents an emerging capital-and-technology model competing for the same wholesale risk flow.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/old-republic-excess-surplus

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 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 Excess & Surplus