This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

RLI Reports Second Quarter 2014 Results

RLI Corp. (NYSE: RLI) – RLI Corp. reported second quarter 2014 operating earnings of $28.9 million ($0.66 per share), compared to $27.5 million ($0.63 per share) for the second quarter of 2013. For the six months ended June 30, 2014, operating earnings were $53.7 million ($1.23 per share) compared to $49.9 million ($1.15 per share) for the same period in 2013.
  Second Quarter
Earnings Per Diluted Share 2014 2013
Operating earnings (1) $0.66 $0.63
Net earnings $0.82 $0.69
(1) See discussion below of non-GAAP financial measures.

Highlights for the quarter included:
  • Combined ratio of 84.2, resulting in underwriting income of $26.6 million.
  • 3% growth in gross premiums written and 4% growth in net premiums written.
  • $22.3 million net increase in underwriting income resulting from favorable development in prior years’ loss reserves.
  • $6.8 million net decrease in underwriting income resulting from 2014 spring storms.
  • Investment income of $14.0 million, up 9% from the same period last year.
  • Book value per share of $21.37, an increase of 11% from year end 2013.

“We are pleased to report solid results for the quarter, including an 84.2 combined ratio, and 11% growth in book value per share for the year,” said RLI Corp. Chairman & CEO Jonathan E. Michael. “Our strong performance and book value growth were driven by consistent underwriting results across all of our segments and positive returns in the investment portfolio.”

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 0.00%
FB $117.43 0.00%
GOOG $692.36 0.00%
TSLA $232.32 0.00%
YHOO $36.01 0.00%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs