RLI CORP
For the period ended Jun 30, 2024. Filed Jul 24, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 24, 2024
RLI$67.95-0.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements
Condensed Consolidated Statements of Earnings and Comprehensive Earnings
| | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · For the Three Months · · For the Six Months | ||||||||||||
| · · Ended June 30, · · Ended June 30, | ||||||||||||
| (in thousands, except per share data) · 2024 · 2023 · 2024 · 2023 | ||||||||||||
| Net premiums earned | | $379,065 | | $322,280 | | $739,741 | | $630,003 | ||||
| Net investment income | | | 33,961 | | | 28,788 | | | 66,808 | | | 55,872 |
| Net realized gains (losses) | | | (192) | | | 5,580 | | | 5,802 | | | 20,200 |
| Net unrealized gains on equity securities | | | 3,608 | | | 25,214 | | | 48,922 | | | 40,710 |
| Consolidated revenue | | $416,442 | | $381,862 | | $861,273 | | $746,785 | ||||
| Losses and settlement expenses | | | 167,799 | | | 153,943 | | | 311,623 | | | 268,431 |
| Policy acquisition costs | | | 113,921 | | | 102,626 | | | 224,375 | | | 204,070 |
| Insurance operating expenses | | | 27,321 | | | 24,510 | | | 56,024 | | | 48,411 |
| Interest expense on debt | | | 1,604 | | | 2,047 | | | 3,222 | | | 4,055 |
| General corporate expenses | | | 4,140 | | | 4,219 | | | 9,150 | | | 8,433 |
| Total expenses | | $314,785 | | $287,345 | | $604,394 | | $533,400 | ||||
| Equity in earnings of unconsolidated investees | | | 1,646 | | | 1,514 | | | 6,415 | | | 5,437 |
| Earnings before income taxes | | $103,303 | | $96,031 | | $263,294 | | $218,822 | ||||
| Income tax expense | | | 21,311 | | | 18,379 | | | 53,402 | | | 42,359 |
| Net earnings | | $81,992 | | $77,652 | | $209,892 | | $176,463 | ||||
| | | | | | | | | | | | | |
| Other comprehensive earnings (loss), net of tax | | | (7,843) | | | (19,721) | | | (20,514) | | | 17,986 |
| Comprehensive earnings | | $74,149 | | $57,931 | | $189,378 | | $194,449 | ||||
| | | | | | | | | | | | | |
| Basic net earnings per share | | $1.79 | | $1.70 | | $4.59 | | $3.87 | ||||
| Diluted net earnings per share | | $1.78 | | $1.69 | | $4.55 | | $3.83 | ||||
| | | | | | | | | | | | | |
| Weighted average number of common shares outstanding: | | | | | | | | | | | | |
| Basic | | | 45,737 | | | 45,591 | | | 45,709 | | | 45,560 |
| Diluted | | | 46,179 | | | 46,044 | | | 46,169 | | | 46,045 |
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