By Kiah Haslett | In a “substantial turn for the better,” Chicago-based insurance company Old Republic reported Thursday that first-quarter income  rose 146.5 percent from last year, to  $25 million. Per-share, the gain was 11 cents, compared to last year’s loss of 23 cents per share. Most of the gain was attributed to smaller losses from company’s mortgage guaranty line.

In the first quarter of 2009, mortgage guaranties lost $144.6 million, which led to last year’s negative $92.8 in income. This year, mortgage guaranties lost only $34.1 million. General insurance posted a 19 percent gain, to $69.2 million.

Thompson Reuters analysts predicted a gain of 7 cents per share. Old Republic was up 7 percent in trading, to $14.69.

Read the full results.