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RLI (RLI) investor relations material
RLI Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary21 Oct, 2025
Executive summary
Net earnings for Q3 2025 were $124.6 million ($1.35 per share), up 31.1% year-over-year, with operating earnings of $77.0 million ($0.83 per share) and book value per share up 26% to $20.41, supported by strong underwriting and investment income growth.
Achieved an 84.0–85.1 combined ratio, maintaining a 29-year streak below 100 and outperforming the industry by an average of 12 points over the last decade.
Net premiums earned rose 7% year-to-date and 4.7% in Q3, with growth in casualty and surety segments, while property premiums declined.
Top-line growth was flat in Q3 due to softening in the commercial property catastrophe market, but underlying growth persisted in most niche products.
Maintained disciplined underwriting and focus on long-term profitability amid increased competition and market volatility.
Financial highlights
Q3 2025 net earnings per diluted share: $1.35 (up from $1.03); operating earnings per share: $0.83 (up from $0.65); book value per share reached $20.41, up 26% from year-end 2024.
Net premiums earned increased 4.7% in Q3 and 7.0% year-to-date; consolidated revenue for the nine months was $1.42 billion.
Net investment income grew 12–13% in Q3, with a 3% total return on the investment portfolio and yield on new purchases at 4.8%.
Underwriting income reached $193 million year-to-date on an 84.0 combined ratio; Q3 underwriting income was $60.5 million on an 85.1 combined ratio.
Operating cash flow for Q3 was $179 million; shareholders' equity rose to $1.87 billion.
Outlook and guidance
Management expects continued focus on disciplined underwriting, technology investment, and talent acquisition to support long-term profitable growth.
Sufficient liquidity from operations and investments is expected to meet needs over the next 12–24 months.
Approved rate increases in personal umbrella and Hawaii homeowners are anticipated to support future margin improvement.
No material changes to market risk exposure or critical accounting policies were reported.
How to navigate property market softening?
Personal umbrella growth drivers and strategy.
Surety competitive edge in crowded market?
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Q4 202523 Jan, 2026
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Frequently asked questions
RLI Corp is an insurance holding company that provides property and casualty insurance products through its subsidiaries. The company underwrites specialty insurance lines including commercial, personal, surety, and professional liability coverage. It operates nationwide and distributes its products through independent agents and brokers. RLI Corp is headquartered in Peoria, Illinois, and its shares are listed on the NYSE.
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