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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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