Old Republic International (NYSE: ORI) shares declined by 1.6% in premarket trading on Thursday after the insurer reported weaker-than-expected first-quarter results. The company’s net premiums and fees earned fell, while its combined ratio continued to rise. Non-GAAP earnings per share (EPS) came in at $0.67, beating the consensus estimate of $0.65. However, total operating revenue fell short of expectations at $1.85 billion, compared to the $1.94 billion consensus estimate. The combined ratio increased to 94.3% from 93.3% in the previous quarter.