RLI Corp

Latest Results (15.02.2026):

RLI Corp — fourth quarter of 2025: RLI reported net earnings of $91.2 million ($0.99 per diluted share) in Q4 2025, a sizable increase from $40.9 million ($0.44) in Q4 2024. Operating earnings for the quarter were $86.4 million ($0.94 per share). Results were driven by strong underwriting performance, favorable prior‑year reserve development and higher investment income; the company also paid a $2.00-per-share special dividend in December 2025.

Quarterly earnings

Q4 2025 net earnings $91.2M ($0.99/share) vs $40.9M ($0.44) in Q4 2024. Operating earnings Q4 2025 were $86.4M ($0.94/share) versus $48.3M ($0.52) a year earlier.

Underwriting performance

Underwriting income for Q4 2025 was $70.9M on a combined ratio of 82.6 (versus $22.2M and 94.4 in Q4 2024). For the full year 2025, underwriting income was $264.2M on an 83.6 combined ratio, marking RLI’s 30th consecutive year of underwriting profitability.

Reserve development & catastrophe impact

Favorable development in prior years’ loss reserves contributed a $22.0M net increase to underwriting income in Q4 2025 (and $87.4M net for the full year). This was partially offset in 2025 by a $26.5M net reduction for 2025 storm losses.

Investments & comprehensive results

Net investment income for Q4 rose 9% to $42.3M; full-year net investment income was $159.7M (up ~12%). Comprehensive earnings were $100.4M ($1.09/share) in Q4 2025 versus a comprehensive loss of $26.3M (-$0.28) in Q4 2024. The investment portfolio total return was 1.5% for the quarter and 9.0% for the year.

Premiums and growth

Gross premiums written declined ~2% in the quarter (company highlight); for the full year RLI reported modest premium growth (gross premiums written up ~1% per the release) and net premiums earned rose 5.8% year over year to $1.614B for 2025.

Shareholder returns & balance sheet

RLI paid a special cash dividend of $2.00 per share (Dec. 19, 2025) and a regular quarterly dividend of $0.16, with total December distributions of $198.4M. Book value per share was $19.35 at year‑end 2025, up 33% from year‑end 2024 (inclusive of dividends).

Operating metrics & outlook signals

Operating EPS was $0.94 for Q4 and $3.47 for the full year (up from $2.91 in 2024). Management emphasized underwriting discipline, diversified specialty lines and continued focus on profitability amid competitive market conditions.