RLI Corp

Latest Results (22.12.2024):

Net Earnings Surge

RLI Corp. reported a significant increase in net earnings for the third quarter of 2024, reaching $95.0 million, or $2.06 per share. This marks a substantial rise from the $13.5 million, or $0.29 per share, reported in the same quarter of 2023. The increase in net earnings highlights the company's strong financial performance during this period.

Operating Earnings Growth

For the third quarter of 2024, RLI Corp. achieved operating earnings of $60.4 million, or $1.31 per share. This is a notable improvement compared to the $28.3 million, or $0.61 per share, recorded in the third quarter of 2023. The growth in operating earnings reflects the company's effective management and operational strategies.

Underwriting Income and Combined Ratio

RLI Corp. reported underwriting income of $40.7 million for the third quarter of 2024, with a combined ratio of 89.6. This is a significant improvement from the $4.2 million underwriting income and 98.7 combined ratio in the same period of 2023. The favorable development in prior years' loss reserves contributed to this positive outcome, despite the impact of Hurricanes Beryl and Helene.

Investment Income Increase

Net investment income for RLI Corp. increased by 15% in the third quarter of 2024, reaching $36.7 million. This growth in investment income is attributed to the company's strategic investment decisions and favorable market conditions, contributing to the overall financial strength of the company.

Dividend Consistency

RLI Corp. maintained its regular quarterly dividend, paying $0.29 per share on September 20, 2024. This consistent dividend payment underscores the company's commitment to returning value to its shareholders, with cumulative dividends exceeding $822 million over the past five years.