RLI sees underwriting income expand in Q3’25 as CoR improves to 85.1%

RLI Corp. has reported Q3 2025 underwriting income of $60.5 million and a combined ratio of 85.1%, compared with $40.7 million and 89.6%, respectively, in the same period of 2024.

Results for both years reportedly benefited from favourable development on prior years’ loss reserves, which added $13.7 million to underwriting income in 2025 and $18.1 million in 2024.

RLI’s Q3 2025 underwriting income was driven primarily by its Property segment, which contributed $50.4 million.

The Surety and Casualty segments made additional contributions of $5.6 million and $4.5 million.

While gross premiums written were more or less flat in Q3 2025 at $510 million, net earnings expanded to $124.6 million, up from $95 million in the same period of 2024.

At the same time, net investment income for Q3 2025 increased 12% to $41.3 million.

RLI Corp. President & CEO Craig Kliethermes commented, “We are pleased to report another quarter of profitable results. Our 85 combined ratio reflects disciplined underwriting and consistent execution of our strategy in a competitive market.

“Favourable reserve development and minimal catastrophe activity during the quarter supported strong underwriting results.

“In addition, investment income growth and solid portfolio returns contributed to a 26% increase in book value per share since year-end 2024. These results reflect the strength of our talented team and the resilience of our diversified product portfolio.”