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Jun 30, 2024
Rli Q2 2024 Earnings Report
RLI Corp. reported excellent second quarter results driven by strong underwriting performance and investment income growth.
Key Takeaways
RLI Corp. reported a strong second quarter in 2024, with net earnings of $82.0 million or $1.78 per share, compared to $77.7 million or $1.69 per share in the second quarter of 2023. Operating earnings were $79.3 million or $1.72 per share, compared to $53.3 million or $1.16 per share for the same period in 2023. The company's underwriting income was $70.0 million with a combined ratio of 81.5, and investment income increased by 18%.
Underwriting income of $70.0 million on a combined ratio of 81.5.
Gross premiums written increased by 11%.
Net investment income increased by 18%.
Favorable development in prior years’ loss reserves resulted in a $19.8 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
This news release contains forward-looking statements that are subject to certain risk factors that could cause actual results to differ materially. Various risk factors that could affect future results are listed in the company's filings with the Securities and Exchange Commission, including the Form 10-K Annual Report for the year ended December 31, 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income