Old Republic International Corporation (Old Republic) is a holding company engaged in the single business of insurance underwriting. It conducts its operations through a number of regulated insurance company subsidiaries organized into three segments: General Insurance Group (property and liability insurance), Title Insurance Group, and the Republic Financial Indemnity Group (RFIG) (mortgage guaranty (MI) and consumer credit indemnity (CCI)) run-off business. In March, 2012, Old Republic combined its General Insurance Group's Consumer Credit Indemnity (CCI) division with its Mortgage Guaranty (MI) business in a renamed Republic Financial Indemnity Group, Inc. Run-off Business segment. The insurance business is distinguished from others in that the prices (premiums) charged for various insurance products are set without certainty of the ultimate benefit and claim costs that will emerge or be incurred, often many years after issuance and expiration of a policy.