Rli Q4 2023 Earnings Report
Key Takeaways
RLI Corp. reported a strong fourth quarter in 2023, with net earnings of $114.6 million ($2.49 per share) compared to $97.8 million ($2.13 per share) in Q4 2022. Operating earnings were $71.1 million ($1.54 per share), slightly up from $70.5 million ($1.53 per share) in the same period last year. The company achieved an underwriting income of $59.8 million with a combined ratio of 82.7.
Underwriting income reached $59.8 million, with a combined ratio of 82.7.
Gross premiums written increased by 13%.
Favorable development in prior years' loss reserves resulted in a $12.5 million net increase in underwriting income.
A special dividend of $2.00 per share was declared, returning $91.3 million to shareholders.
Rli
Rli
Rli Revenue by Segment
Forward Guidance
RLI Corp. did not provide specific forward guidance in the Q4 2023 earnings report. The focus was primarily on reviewing the results of the past quarter and year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income