RLI Corp. (NYSE: RLI) reported Q3 EPS of $0.04, $0.05 better than the analyst estimate of ($0.01).

“Our third quarter results reflect the impact of a very active hurricane season, which contributed 17 points to the overall 108 combined ratio,” said RLI Corp. Chairman & CEO Jonathan E. Michael. “Despite this impact, our casualty and surety segments delivered strong results, with combined ratios of 97 and 70, respectively. We also managed to earn 4 cents of operating income, due to our conservative approach to risk management, the strength of our diversified product portfolio and contributions from investments. Overall premium was relatively flat in the quarter supported by modest growth in our casualty segment. Surety segment premium declined due to continued competitive market conditions and our property segment was adversely impacted by previously discussed product exits.”

“After many years of benign hurricane activity, recent events have solidified both our purpose and commitment to serving our policyholders in times of need. I would like to thank all RLI associates, and in particular our claim team, for providing timely and unparalleled service to our agents, brokers and insureds.”

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