RLI reported second-quarter 2026 net earnings of $168.0 million, or $1.82 per diluted share, versus $124.3 million ($1.34) in Q2 2025. Operating earnings for the quarter were $76.9 million, or $0.83 per diluted share, essentially flat year-over-year. Book value per share rose to $19.09 (an 11% increase since year-end 2025, inclusive of dividends and repurchases).
Financial Highlights
- Net earnings (Q2 2026): $168.0 million; diluted EPS: $1.82.
- Operating earnings (Q2 2026): $76.9 million; operating diluted EPS: $0.83.
- Net investment income (Q2 2026): $46.0 million, up 17% year-over-year.
- Gross premiums written (Q2 2026): $579.7 million; net premiums earned (Q2 2026): $417.1 million (up 3.8% vs. Q2 2025).
- Book value per share: $19.09 (an 11% increase since year-end 2025, inclusive of shareholder returns).
Business Highlights
- Underwriting performance: underwriting income of $59.9 million on an 85.6 combined ratio for Q2 2026.
- Segment performance: strong margins in property and surety segments (property combined ratio 56.8%; surety combined ratio 87.2%) helped overall profitability; casualty segment combined ratio was 99.3 in the quarter.
- Reserve development: favorable prior-years reserve development contributed materially, with $35.1 million net increase in underwriting income for the quarter.
- Capital returns and balance sheet actions: authorized a $250 million share repurchase program and repurchased $12.0 million of stock in Q2; paid a $2.00 per share special dividend on June 12, 2026.
- Investment portfolio: total return of 3.4% for the quarter and 3.0% for the six months ended June 30, 2026; equity securities at fair value increased to $959.4 million.
Original SEC Filing:
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