Company Profile
Republic Mortgage Insurance Company protects lenders across the United States from losses due to defaults on first mortgages for single-family residential properties. Since our beginning in 1972, customers have been our top priority. All of us at RMIC strongly believe in providing mortgage insurance services supported by outstanding customer service with a personal touch.
RMIC has more than 2,000 active customers, which is a testament to the quality of our services, product depth and commitment to our partners. The company is managed by the Office of the Chief Executive Officer (OCEO), comprised of Bill Simpson, Jimmy Dew and Chris Nard.
RMIC is a subsidiary of Old Republic International Corporation (NYSE: ORI). Old Republic traces its beginnings to 1923, although several acquired subsidiaries began operations much earlier. The Company is one of America’s 50 largest shareholder-owned insurance businesses. Its subsidiaries market, underwrite, and provide risk management services for a wide variety of coverages, predominantly in the general (property and liability), mortgage guaranty, and title insurance fields. The Company is primarily a commercial lines underwriter serving the insurance needs of a large number of customers, including many of America’s leading industrial and financial services institutions.
RMIC’s general operating philosophy is closely attuned to the conservative approach of its parent, in which strong capitalization, concentration on core competencies, a willingness to forego volume in poor markets, and a long term view of the business predominate. We emphasize the values of traditional long term relationships, knowledgeable and professional service, and the maintenance of strong financial ratings.
You can rely on RMIC’s financial strength and long term commitments to honor all just claims quickly and courteously. As shown in the table below, RMIC enjoys very strong financial strength ratings from highly regarded independent rating agencies. The Company also maintains a close working relationship with ORI’s flagship carrier, Old Republic Insurance Company (ORINSCO), in delivering credit indemnity products offered since 1954. These products cover certain consumer loan portfolios of lending institutions. RMIC’s and ORINSCO’s financial ratings benefit from their affiliation with their strong parent holding company.
Key Financial Ratings
A.M. Best Fitch Moody’s Standard& Poor’s
Republic Mortgage
Insurance Company * AA Aa3 AA
Old Republic Insurance A+ AA Aa2 AA
Company
Old Republic International * A+ A1 A+
Corporation
(*) No rating sought nor provided
RMIC is a subsidiary of
Old Republic International (ORI).