RLI Corp. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 23, 2023 at 04:10 pm EDT
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RLI Corp. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 331.69 million compared to USD 859.49 million a year ago. Net income was USD 13.54 million compared to USD 439.89 million a year ago. Diluted earnings per share from continuing operations was USD 0.29 compared to USD 9.61 a year ago.
For the nine months, revenue was USD 1,078.48 million compared to USD 1,337.4 million a year ago. Net income was USD 190 million compared to USD 485.58 million a year ago. Diluted earnings per share from continuing operations was USD 4.12 compared to USD 10.61 a year ago.
RLI Corp. is a specialty insurer serving niche property, casualty, and surety markets. The Company provides underwriting expertise and service to commercial and personal line customers nationwide. The Companyâs segment includes Casualty, Property and Surety. The casualty portion of its business consists largely of commercial excess, personal umbrella, general liability, transportation, and management liability coverages, as well as package business and other specialty coverages, such as professional liability and workerâs compensation for office-based professionals. Its Property segment is comprised primarily of commercial fire, hurricane, earthquake, difference in conditions and marine coverages. Its Surety segment specializes in writing small to medium-sized contract surety coverages, including payment and performance bonds. Its products are offered through its insurance subsidiaries, RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company.
RLI CORP. 
