RLI Corp

Latest Results (12.05.2026):

RLI Corp's fourth quarter of 2025 delivered strong results: net earnings of $91.2 million ($0.99 per diluted share) versus $40.9 million ($0.44) in Q4 2024, and operating earnings of $86.4 million ($0.94) versus $48.3 million ($0.52) a year earlier. Results were driven by solid underwriting performance, higher investment income and favorable reserve development, alongside a $2.00-per-share special dividend paid in December 2025.

Net & operating earnings

Q4 2025 net earnings: $91.2M ($0.99), up ~123% YoY; operating earnings: $86.4M ($0.94), up ~79% YoY. Full-year 2025 net EPS $4.37 and operating EPS $3.47.

Underwriting performance

Underwriting income in Q4 2025 was $70.9M on a combined ratio of 82.6 (vs. $22.2M and 94.4 in Q4 2024). Year-to-date underwriting income was $264.2M on an 83.6 combined ratio, marking RLI’s 30th consecutive year of underwriting profitability.

Investment results & comprehensive earnings

Net investment income in Q4 rose 9% to $42.3M; the investment portfolio returned 1.5% for the quarter and 9.0% for the year. Q4 comprehensive earnings were $100.4M ($1.09), and full-year comprehensive earnings were $489.0M ($5.29).

Premiums & growth

Gross premiums written declined ~2% for the quarter, while net premiums earned for Q4 were $406.4M (up 2.3% YoY). For the year, net premiums earned were $1,614.3M (up 5.8% YoY) and gross premiums written rose ~1%.

Reserve development & catastrophe impact

Favorable prior‑years’ reserve development contributed meaningfully (the company cited a $22.0M net increase to Q4 underwriting income and $87.4M for the year). These gains were partially offset by 2025 storm losses that reduced underwriting income by a net ~$26.5M for the year.

Shareholder returns

RLI paid a $2.00 per share special cash dividend on December 19, 2025 (company noted $183.7M attributed to the special dividend) and a $0.16 regular quarterly dividend; combined cash dividends that date totaled $198.4M. RLI highlighted long dividend and underwriting win streaks and meaningful capital returns over the last decade.

Balance sheet & capital metrics

Total investments and cash were $4.664B (up 14.2% YoY); total assets $6.161B (+9.5%); shareholders’ equity $1.778B (+16.8%). Book value per share was $19.35, a 33% increase from year-end 2024 (inclusive of dividends); closing stock price was $63.98.