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Mar 31, 2025
Rli Q1 2025 Earnings Report
RLI Corp. reported solid profitability and premium growth in Q1 2025 despite lower net earnings year-over-year.
Key Takeaways
RLI Corp. delivered profitable results in Q1 2025, with strong underwriting performance and investment income gains. Net earnings fell year-over-year due to lower unrealized equity gains, but operational metrics remained resilient.
Net income dropped to $63.2M due to lower unrealized equity gains.
Operating earnings remained stable at $84.9M.
Gross premiums written increased 5%, led by growth in the casualty segment.
Strong property and surety margins contributed to a low combined ratio of 82.3.
Revenue by Segment
Forward Guidance
Management emphasized continued premium growth and strong margins, highlighting their diversified specialty portfolio as a key strength.
Positive Outlook
- Continued momentum in casualty premiums.
- Strong underwriting margins in property and surety.
- Book value per share rose 6% since year-end 2024.
- Net investment income increased by 12%.
- A+ (Superior) rating affirmed by AM Best for all insurance subsidiaries.
Challenges Ahead
- Net earnings fell 50.6% YoY.
- Lower underwriting income compared to Q1 2024.
- Decline in equity portfolio value due to market fluctuations.
- Casualty combined ratio increased to 99.1 from 93.1.
- Comprehensive earnings declined 19.1% YoY.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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