10-K/A: Old Republic International Files Amended 10-K to Correct Clerical Errors in Auditor's Consent

Old Republic International Corporation files an amendment to its 2024 annual report to correct clerical errors in the Consent of Independent Registered Public Accounting Firm.

Summary

• Old Republic International Corporation filed an amendment (Form 10-K/A) to its annual report for the year ended December 31, 2024.
• The amendment was filed to correct clerical errors in the Consent of Independent Registered Public Accounting Firm (KPMG LLP) included in the original filing.
• The errors involved the inadvertent omission of references to the Registrant's latest registration statements on Forms S-8 and S-3.
• The amendment includes a corrected Consent from KPMG LLP.
• The amendment also contains new certifications from the CEO and CFO pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
• No other changes were made to the original filing, and the amendment does not reflect subsequent events occurring after the date of the original filing (February 27, 2025) or modify or update any disclosures made in the original filing.
• The aggregate fair value of the registrant's voting Common Stock held by non-affiliates of the registrant on June 30, 2024, was $7,241,491,725.
• As of January 31, 2025, the registrant had 248,191,027 shares of Common Stock outstanding.

Sentiment

Score: 7

Explanation: The document is a routine amendment to correct clerical errors, indicating a neutral to slightly positive sentiment as the company is taking steps to ensure accuracy and compliance.

Positives

• The company promptly addressed and corrected the clerical errors in the auditor's consent.
• The amendment ensures accurate documentation and compliance with SEC regulations.

Future Outlook

The amendment does not reflect subsequent events occurring after February 27, 2025, or modify or update any disclosures made in the original filing.

Management Comments

• Craig R. Smiddy, President and Chief Executive Officer, certified that the report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.
• Frank J. Sodaro, Senior Vice President, Chief Financial Officer and Principal Accounting Officer, certified that the report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.

Industry Context

This filing is a routine amendment to correct administrative oversights, which is a common occurrence in financial reporting and does not necessarily indicate any underlying issues with the company's financial health or operations.

Comparison to Industry Standards

• Correcting errors in financial statements and auditor consents is a standard practice across the industry.
• Companies like Travelers, Chubb, and Hartford Financial Services Group also routinely file amendments to their reports when necessary.
• The promptness of Old Republic in addressing the clerical errors aligns with industry best practices for maintaining transparency and accuracy in financial reporting.

Stakeholder Impact

• The amendment ensures that stakeholders receive accurate and reliable financial information.
• Correcting the clerical errors in the auditor's consent enhances investor confidence.

Key Dates

Keywords

Form 10-K/A, amendment, annual report, Old Republic International, KPMG, Consent of Independent Registered Public Accounting Firm, clerical errors, registration statements, Sarbanes-Oxley Act, financial reporting