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Mar 31, 2022
Rli Q1 2022 Earnings Report
RLI Corp. reported first quarter 2022 results.
Key Takeaways
RLI Corp. reported a strong first quarter in 2022, with a 22% increase in gross premiums written and a combined ratio of 77.9. Operating earnings were $1.43 per share, driven by solid contributions from all three product segments and favorable market conditions. However, negative portfolio returns led to a 5% decline in book value, inclusive of dividends.
Underwriting income of $59.5 million on a combined ratio of 77.9.
22% increase in gross premiums written.
9% increase in net investment income.
Favorable development in prior years’ loss reserves, resulting in a $39.6 million net increase in underwriting income.
Rli
Rli
Rli Revenue by Segment
Revenue by Segment
Casualty premiums Revenue
CapyFin.comProperty premiums Revenue
CapyFin.comSurety premiums Revenue
CapyFin.com Forward Guidance
RLI Corp. announced that it has agreed to sell its minority interest in Maui Jim, Inc. RLI’s net after-tax purchase price proceeds from the sale will be approximately $500 million, with the final proceeds to be determined at closing, based on adjustments to the purchase price for working capital and other items.
Positive Outlook
- Successful completion of the sale will result in capital generated to RLI’s benefit.
- Adequate capital to support our business.
- Demonstrated discipline in returning capital to shareholders if it exceeds our near-term needs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income