Old Republic International Corp. announced that Craig Smiddy will join the Old Republic General Insurance Group Inc. (ORGIG) as chief operating officer. Smiddy also will become a member of ORGIG’s Office of the Chief Executive Officer, which is this segment’s senior policy-setting group. The change will take effect by Aug. 5.
Smiddy joins Old Republic’s executive ranks from his most recent position as president of the Specialty Markets Division of Munich Reinsurance America Inc. His general insurance career spans more than 25 years, including 15 with Munich Reinsurance in positions of increasing responsibility. Before this, Smiddy worked with a personal lines carrier and a major commercial general insurance broker.
In making this announcement, Al Zucaro, Old Republic’s chairman and chief executive officer, noted, “Craig's wide-ranging experience in general insurance, as well as his leadership skills, are a great addition to our multi-faceted business. We look forward to his contribution to Old Republic as we enhance our commitment to general and title insurance, which are the major pillars of our long-term growth strategy.”
Chicago-based Old Republic International Corp. is an insurance holding company whose subsidiaries market, underwrite and provide risk management services for a wide variety of coverages, principally in the property and liability, mortgage guaranty and title insurance fields. One of the nation’s 50 largest publicly owned insurance organizations, Old Republic has assets of approximately $16.41 billion and common shareholders’ equity of nearly $3.67 billion, or $14.31 per share. Its current stock market valuation is approximately $3.57 billion, based on $13.75 per share.