RLI Corp. (RLI) Tops Q2 EPS by 5c, Slight Miss on Revenues

RLI Corp. (NYSE: RLI) reported Q2 EPS of $0.60, $0.05 better than the analyst estimate of $0.55. Revenue for the quarter came in at $219.33 million versus the consensus estimate of $220.39 million.

“We are pleased to report profitable underwriting results and strong premium growth in the second quarter,” said RLI Corp. Chairman & CEO Jonathan E. Michael. “We achieved a 93 combined ratio, which was driven by profitable underwriting in all segments. Although volcanic activity in Hawaii impacted our property results, I am proud of our team’s ongoing efforts to provide outstanding service and support to our policyholders living in affected areas. In addition, we posted 12% top line growth with contributions from multiple products across our diverse portfolio, marking our third consecutive quarter of double-digit growth. Because of the combined strength of our underwriting and investment performance, we were able to deliver $0.60 of operating earnings per share.”

For earnings history and earnings-related data on RLI Corp. (RLI) click here.

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