Rli Q3 2021 Earnings Report

RLI reported strong underwriting results with a 95 combined ratio, despite the impact of Hurricane Ida and other catastrophes.

Key Takeaways

RLI Corp. reported third quarter 2021 net earnings of $29.2 million ($0.64 per share), compared to $42.4 million ($0.93 per share) for the third quarter of 2020. Operating earnings for the third quarter of 2021 were $29.8 million ($0.65 per share), compared to $19.0 million ($0.42 per share) for the same period in 2020.

Underwriting income of $13.7 million on a combined ratio of 94.6.

18% increase in gross premiums written.

Favorable development in prior years’ loss reserves, resulting in a $25.1 million net increase in underwriting income.

Losses from third quarter hurricanes, resulting in a $28.9 million net decrease in underwriting income.