RLI Corp. reported a strong financial performance for the fiscal year ended December 31, 2024, with consolidated revenue reaching $1.77 billion, an increase of $258 million or 17.1% compared to $1.51 billion in 2023. The company's net premiums earned rose by 18% to $1.53 billion, driven primarily by growth in its property and casualty segments. Net earnings for the year totaled $346 million, up from $305 million in the previous year, reflecting improved underwriting income and increased investment income.
The company achieved its 29th consecutive year of underwriting profitability, with a combined ratio of 86.2, slightly improved from 86.6 in 2023. Gross premiums written surpassed $2 billion for the first time, increasing by 11% year-over-year. The casualty segment saw a 15% rise in gross premiums written, while the property segment grew by 7%. The surety segment also contributed to the overall growth, with a 9% increase in gross premiums written.
RLI Corp. has made strategic investments in its operations, including enhancements in technology and underwriting talent, which are expected to support future growth. The company employed 1,147 associates as of December 31, 2024, up from 1,099 in the previous year. The firm continues to focus on niche markets, offering specialized insurance products tailored to customer needs. The company also reported a significant increase in unrealized gains on equity securities, totaling $82 million in 2024, building on a $65 million gain in 2023.
Looking ahead, RLI Corp. anticipates continued growth in its premium base and investment income, supported by a stable interest rate environment and a larger asset base. The company remains vigilant regarding market conditions, particularly in the auto insurance sector, which has seen rising loss severity trends. RLI Corp. is committed to maintaining its underwriting discipline and leveraging its expertise to navigate competitive pressures while pursuing profitable opportunities in the specialty insurance market.
About RLI CORP
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.