A month has gone by since the last earnings report for RLI Corp. (RLI) . Shares have added about 3.7% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is RLI Corp. due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. RLI's Q2 Earnings, Revenues Top Estimates on Strong Und ...

Core Insights - RLI Corp. is recognized as a "Dividend Insurance Champion" with a strong history of consistent dividend increases over 49 years, despite a low dividend yield below 1% [2][15] - The company has outperformed the S&P 500 in total return over the last two decades, showcasing its strong market position [2] - RLI's focus on underwriting margin over premium growth, along with a well-managed investment portfolio, supports its steady dividend increases [4] Financial Performance - Year-to-date income for RLI increased by approximately $33 million compared to the previous year, driven by higher investment income and steady underwriting income [5] - The company recorded an underwriting income of $147.7 million in the first six months of the year, achieving a combined ratio of 80%, which is an improvement of 2.7 points year-over-year [9] - The property segment was the largest contributor to underwriting income, with a combined ratio of 57.9% year-to-date, generating $110.9 million [11] Underwriting Segments - The property segment's gross written premium grew by 6% in Q2, with marine insurance leading at a 20% increase [13] - The casualty insurance segment experienced a 12% year-to-date net premium increase but saw a reduction in underwriting income to approximately $24 million, down around $14.8 million from the previous year [14] - The surety insurance segment's combined ratio increased to 81.4% for the first half of 2024, compared to 75.8% in 2023, indicating reduced underwriting income [14] Dividend Policy - RLI is recognized as a dividend aristocrat, with a consistent track record of dividend increases and annual special dividends [15][16] - In 2022, RLI distributed a special dividend of $7.0 per share, while in 2023, the special dividend returned to $2 per share [15] Valuation - RLI's shareholder equity stands at $1.58 billion, with a market capitalization of approximately $6.85 billion, resulting in a price-to-book (P/B) ratio of around 4.3 [17] - The current valuation is considered fair compared to its 5-year average, but peers typically trade at lower multiples of 1.5 to 2.5 [18] - Despite strong financial performance, the high valuation suggests a lack of safety margin for new investors [19]

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RLI Corp. (RLI) is well-poised to gain from a strong product portfolio, rate increases, improved retention, higher premium receipts and sufficient liquidity. Optimistic Growth Projections The Zacks Consensus Estimate for RLI's 2024 earnings per share indicates an increase of 22.5% from the yearago reported number. The consensus estimate for revenues is pegged at $1.67 billion, implying a year-over-year improvement of 18%. The consensus estimate for 2025 earnings per share and revenues indicates an increase ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) RLI Corp. (Exact name of registrant as specified in its charter) Delaware 37-0889946 (I.R.S. Employer Identification Number) (State or other jurisdiction of incorporation or organization) 9025 North Lindbergh Drive, Peoria, IL 61615 (Address of principal executive offices) (Zip Code) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period e ...

RLI Corp. (NYSE:RLI) Q2 2024 Earnings Conference Call July 23, 2024 11:00 AM ET Company Participants Aaron Diefenthaler - Chief Investment Officer and Treasurer Craig Kliethermes - President and Chief Executive Officer Todd Bryant - Chief Financial Officer Jen Klobnak - Chief Operating Officer Conference Call Participants Sid Parameswar - Raymond James Andrew Anderson - Jefferies Scott Heleniak - RBC Meyer Shields - KBW Operator Good morning, and welcome to the RLI Corp Second Quarter Earnings Teleconferenc ...

RLI Corp. (RLI) reported second-quarter 2024 operating earnings of $1.72 per share, beating the Zacks Consensus Estimate by 27.4%. The bottom line improved 48.3% year over year. The quarterly results reflect the continued underwriting-focused business model and the strength of its diversified portfolio. Shares gained 4.8% in the after-market trading session to reflect the outperformance. RLI Corp. Price, Consensus and EPS Surprise Operational Performance Operating revenues for the reported quarter were $413 ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) RLI Corp. achieved strong Q2 2024 results, with increased net and operating earnings, driven by premium growth and investment income Q2 2024 Earnings Summary | Metric | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | Net Earnings (Millions) | $82.0M | $77.7M | | Net Earnings per Share | $1.78 | $1.69 | | Operating Earnings (Millions) | $79.3M | $53.3M | | Operating Earnings per Share | $1.72 | $1.16 | - Gross premiums written increased by **11%** and net investment income grew by **18%** in the second quarter[3](index=3&type=chunk) - Book value per share rose to **$34.64**, marking a **14%** increase (inclusive of dividends) from the end of 2023[3](index=3&type=chunk) - CEO Craig Kliethermes highlighted the excellent results, attributing them to a balanced growth across the product portfolio and a disciplined underwriting approach, particularly in the property segment[14](index=14&type=chunk) [Underwriting Performance](index=1&type=section&id=Underwriting%20Performance) Underwriting income significantly increased to $70.0 million in Q2 2024, with the combined ratio improving to 81.5% Underwriting Income & Combined Ratio by Segment (Q2 2024 vs. Q2 2023) | Segment | Underwriting Income (2024, Millions) | Underwriting Income (2023, Millions) | Combined Ratio (2024) | Combined Ratio (2023) | | :--- | :--- | :--- | :--- | :--- | | Casualty | $10.3M | $7.0M | 95.1% | 96.3% | | Property | $53.2M | $25.9M | 60.3% | 74.6% | | Surety | $6.5M | $8.3M | 81.8% | 75.0% | | **Total** | **$70.0M** | **$41.2M** | **81.5%** | **87.2%** | - Favorable development in prior years' loss reserves contributed a net increase of **$19.8 million** to underwriting income in Q2 2024, compared to **$17.0 million** in Q2 2023[5](index=5&type=chunk) - For the six months ended June 30, 2024, the total underwriting income was **$147.7 million** on a combined ratio of **80.0%**[38](index=38&type=chunk) [Investment and Other Income](index=2&type=section&id=Investment%20and%20Other%20Income) Net investment income grew 18.0% to $34.0 million in Q2 2024, with the investment portfolio achieving a 0.9% total return - Net investment income rose **18.0%** to **$34.0 million** compared to the same period in 2023[28](index=28&type=chunk) - The investment portfolio's total return was **0.9%** for the second quarter and **2.7%** for the six months ended June 30, 2024[28](index=28&type=chunk) [Capital Management and Shareholder Returns](index=2&type=section&id=Capital%20Management%20and%20Shareholder%20Returns) RLI increased its quarterly dividend to $0.29 per share, with cumulative dividends exceeding $819 million over five years - On June 20, 2024, the company paid a regular quarterly dividend of **$0.29 per share**, a **$0.02** increase over the prior quarter[7](index=7&type=chunk) - Cumulative dividends paid over the last five years exceed **$819 million**[7](index=7&type=chunk) [Financial Statements and Data](index=4&type=section&id=Financial%20Statements%20and%20Data) This section provides detailed unaudited financial data for Q2 and H1 2024, including income statements, balance sheets, and non-GAAP reconciliation [Summarized Income Statement](index=5&type=section&id=Summarized%20Income%20Statement) Q2 2024 consolidated revenue grew 9.1% to $416.4 million, with net premiums earned up 17.6% and net earnings rising 5.6% Q2 2024 Income Statement Highlights (in thousands) | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | Net Premiums Earned | $379,065 | $322,280 | 17.6% | | Net Investment Income | $33,961 | $28,788 | 18.0% | | Consolidated Revenue | $416,442 | $381,862 | 9.1% | | Total Expenses | $314,785 | $287,345 | 9.5% | | Net Earnings | $81,992 | $77,652 | 5.6% | [Summarized Balance Sheet](index=6&type=section&id=Summarized%20Balance%20Sheet) As of June 30, 2024, total assets increased 6.4% to $5.51 billion, and shareholders' equity grew 12.1% to $1.58 billion Balance Sheet Highlights (in thousands) | Metric | June 30, 2024 | Dec 31, 2023 | % Change | | :--- | :--- | :--- | :--- | | Total Investments and Cash | $3,887,349 | $3,676,318 | 5.7% | | Total Assets | $5,511,673 | $5,180,221 | 6.4% | | Total Liabilities | $3,926,966 | $3,766,707 | 4.3% | | Shareholders' Equity | $1,584,707 | $1,413,514 | 12.1% | [Non-GAAP Reconciliation](index=5&type=section&id=Non-GAAP%20Reconciliation) Q2 2024 operating earnings, a non-GAAP measure, increased 48.7% to $79.3 million, adjusted from GAAP net earnings Reconciliation of Net Earnings to Operating Earnings (Q2, in thousands) | Metric | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | Net Earnings | $81,992 | $77,652 | | Less: Adjustments for securities gains/losses (net of tax) | ($2,700) | ($24,328) | | **Operating Earnings** | **$79,292** | **$53,324** | [Corporate Information and Outlook](index=2&type=section&id=Corporate%20Information%20and%20Outlook) RLI Corp. was recognized as a top-performing insurer for the 34th consecutive year, operating as a specialty insurer with A+ rated subsidiaries - For the **34th consecutive year**, RLI was named a Ward's 50® P&C Top Performer, being the only company to achieve this recognition every year since the list's inception in 1991[9](index=9&type=chunk) - RLI is a specialty insurer serving niche property, casualty, and surety markets, with all its insurance subsidiaries rated **A+ (Superior)** by AM Best Company[21](index=21&type=chunk) - The earnings release contains forward-looking statements, and readers are advised that actual results could differ materially due to various risk factors detailed in the company's SEC filings[20](index=20&type=chunk)

The market expects RLI Corp. (RLI) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. Zacks Consensus Estimate Estimate Revisions Trend Earnings Whisper Thus, a positive or negative Earnings ESP reading theoretically indi ...

RLI Corp.'s (RLI) strong product portfolio, rate increases, improved retention, higher premium receipts and sufficient liquidity make it worth adding to one's portfolio. The consensus estimate for 2025 earnings per share and revenues indicates an increase of 3.8% and 9.2%, respectively, from the corresponding 2024 estimates. Estimate Revision The Zacks Consensus Estimate for 2024 and 2025 earnings has moved 1.9% and 2.7% north, respectively, in the past 60 days. This should instill investors' confidence in ...