RLI Corp. (NYSE: RLI) reported Q1 EPS of $0.66, $0.03 better than the analyst estimate of $0.63.

“First and foremost, I want to acknowledge the uncertainties we are all facing as a result of the COVID-19 pandemic,” said RLI Corp. Chairman & CEO Jonathan E. Michael. “Amid rapidly changing dynamics, we’ve focused on providing strong service to our customers and support to our employee owners. I want to thank all of our associates for their resilience and inspiring commitment to our customers during these challenging times.”

“While stress in the capital markets drove a net loss and a decline in book value in the first quarter, we achieved growth in gross premiums written across all product segments and an underwriting profit. Our underwriting results are a testament to our talented team, hallmark discipline and service-oriented culture. We will continue to maintain focus on serving all of our stakeholders while navigating the current climate.”

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