$RLI

RLI CORP

CIK:0000084246|SEC Filings

Condensed Consolidated Statements of Earnings and Comprehensive Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net premiums earned	$ 417,096	$ 401,904	$ 828,482	$ 800,249
Net investment income	46,042	39,418	88,363	76,144
Net realized gains	9,407	15,004	18,966	29,916
Net unrealized gains on equity securities	103,024	43,500	63,628	1,182
Consolidated revenue	575,569	499,826	999,439	907,491
Losses and settlement expenses	189,895	184,578	383,139	361,816
Policy acquisition costs	134,675	125,502	266,750	249,189
Insurance operating expenses	32,617	29,594	60,897	56,468
Interest expense on debt	4,441	1,350	6,794	2,685
General corporate expenses	6,223	4,754	8,947	7,702
Total expenses	367,851	345,778	726,527	677,860
Equity in earnings of unconsolidated investees	2,970	2,467	5,117	5,515
Earnings before income taxes	210,688	156,515	278,029	235,146
Income tax expense	42,660	32,179	55,116	47,596
Net earnings	168,028	124,336	222,913	187,550
Other comprehensive earnings (loss), net of tax	(2,314)	18,701	(27,680)	48,731
Comprehensive earnings	$ 165,714	$ 143,037	$ 195,233	$ 236,281
Basic net earnings per share (in dollars per share)	$ 1.83	$ 1.35	$ 2.42	$ 2.04
Diluted net earnings per share (in dollars per share)	$ 1.82	$ 1.34	$ 2.42	$ 2.03
Weighted average number of common shares outstanding:
Basic weighted average number of common shares outstanding (in shares)	91,922	91,827	91,924	91,799
Diluted weighted average number of common shares outstanding (in shares)	92,160	92,518	92,257	92,512

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Statement of Cash Flows [Abstract]
Net cash provided by operating activities	$ 188,049	$ 278,233
Purchase of:
Fixed income securities, available-for-sale	(469,460)	(455,880)
Equity securities	(14,750)	(95,537)
Property and equipment	(3,856)	(2,358)
Other	(5,884)	(3,610)
Proceeds from sale of:
Fixed income securities, available-for-sale	126,582	29,970
Equity securities	38,426	55,251
Other	4,216	2,467
Proceeds from call or maturity of:
Fixed income securities, available-for-sale	230,669	241,362
Net proceeds from purchase of short-term investments	(85,557)	(40,747)
Net cash used in investing activities	(179,614)	(269,082)
Cash Flows from Financing Activities
Proceeds from issuance of debt	296,866
Payment of debt	(100,000)
Cash dividends paid	(215,255)	(28,453)
Proceeds from stock option exercises	2,536	926
Purchases of treasury shares	(12,046)
Net cash used in financing activities	(27,899)	(27,527)
Net increase in cash	(19,464)	(18,376)
Cash at the beginning of the period	51,565	39,790
Cash at June 30,	$ 32,101	$ 21,414

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Available-for-sale, at fair value (amortized cost of $3,760,876 and allowance for credit losses of $463 at 6/30/26) (amortized cost of $3,642,362 and allowance for credit losses of $828 at 12/31/25)	$ 3,617,942	$ 3,533,336
Equity securities, at fair value (cost - $530,730 at 6/30/26 and $534,311 at 12/31/25)	959,377	898,876
Short-term investments, at cost which approximates fair value	206,119	120,562
Other invested assets	58,661	59,281
Cash	32,101	51,565
Total investments and cash	4,874,200	4,663,620
Accrued investment income	32,117	30,026
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $21,044 at 6/30/26 and $23,673 at 12/31/25	267,018	212,226
Ceded unearned premium	122,327	124,669
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $10,953 at 6/30/26 and $11,107 at 12/31/25	718,487	746,798
Deferred policy acquisition costs	188,857	172,648
Property and equipment, at cost, net of accumulated depreciation of $88,555 at 6/30/26 and $84,459 at 12/31/25	40,712	40,733
Investment in unconsolidated investees	57,872	53,521
Goodwill and intangibles	53,562	53,562
Other assets	57,853	63,683
TOTAL ASSETS	6,413,005	6,161,486
Liabilities
Unpaid losses and settlement expenses	2,937,211	2,886,819
Unearned premiums	1,063,167	991,636
Reinsurance balances payable	25,013	40,580
Funds held	131,881	127,242
Income taxes-current	1,648	29,724
Income taxes-deferred	25,795	21,769
Short-term debt		100,000
Long-term debt	296,968
Accrued expenses	92,466	128,597
Other liabilities	86,741	56,923
TOTAL LIABILITIES	4,660,890	4,383,290
Shareholders' Equity
Common stock ($0.01 par value) (Shares authorized - 400,000,000) (137,868,035 shares issued, 91,772,634 shares outstanding at 6/30/26) (137,739,079 shares issued, 91,878,651 shares outstanding at 12/31/25)	1,378	1,377
Paid-in capital	382,909	376,679
Accumulated other comprehensive earnings (loss)	(115,754)	(88,074)
Retained earnings	1,888,627	1,881,213
Deferred compensation	13,152	14,082
Less: Treasury shares, at cost (46,095,401 shares at 6/30/26 and 45,860,428 shares at 12/31/25)	(418,197)	(407,081)
TOTAL SHAREHOLDERS' EQUITY	1,752,115	1,778,196
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 6,413,005	$ 6,161,486