Rli Q1 2020 Earnings Report

RLI reported mixed results with a net loss driven by capital market stress, but achieved growth in gross premiums and an underwriting profit.

Key Takeaways

RLI Corp. reported a net loss of $61.3 million for Q1 2020, compared to a net income of $65.5 million in Q1 2019. However, the company achieved growth in gross premiums written across all product segments and an underwriting profit, with underwriting income of $17.2 million.

RLI reported a net loss of $61.3 million (-$1.36 per share) compared to net earnings of $65.5 million ($1.46 per share) for the same period in 2019.

Operating earnings for the first quarter of 2020 were $29.8 million ($0.66 per share), compared to $31.8 million ($0.71 per share) for the same period in 2019.

Underwriting income of $17.2 million was achieved on a combined ratio of 92.0.

Gross premiums written increased by 6%.