RLI Corp. (RLI) Tops Q2 EPS by 30c

RLI Corp. (NYSE: RLI) reported Q2 EPS of $0.77, $0.30 better than the analyst estimate of $0.47.

“As we navigate the path forward in this uncertain environment, we remain focused on providing the best support possible to our customers, associates and communities,” said RLI Corp. Chairman & CEO Jonathan E. Michael. “Commitments to those we serve are most easily fulfilled from a position of sustainable strength. Our financial results are a testament to that longstanding foundation. Although COVID-19 related losses were $6 million in the quarter, we achieved underwriting profitability in all product segments and an 88 combined ratio overall. Underwriting results, paired with steady investment income, generated $0.77 of operating earnings per share for the quarter. In addition, a strong rebound in the capital markets contributed to an 8 percent increase in book value for the first six months of 2020. We are prepared to meet any further challenges this crisis may bring and thank all RLI associates for their dedication to our stakeholders.”

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

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