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RLI

RLI Corp.

RLI

RLI Corp. • NYSE
$61.66 ▼ -0.16% (-0.10)
Market Cap $5.66 B
52w High $88.16
52w Low $57.75
Dividend Yield 2.63%
P/E 16.14
Volume 551.92K
Outstanding Shares 91.84M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $509.264M ▲ $4.869M ▲ $124.61M ▲ 24.469% ▼ $1.35 $158.609M ▲
Q2-2025 $499.826M ▲ $3.637M ▲ $124.336M ▲ 24.876% ▲ $1.35 ▲ $157.865M ▲
Q1-2025 $407.665M ▼ $1.235M ▼ $63.214M ▲ 15.506% ▲ $0.69 ▲ $79.966M ▲
Q4-2024 $439.116M ▼ $16.75M ▲ $40.86M ▼ 9.305% ▼ $0.45 ▼ $48.924M ▼
Q3-2024 $469.995M $4.373M $95.027M 20.219% $1.03 $118.442M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.648B ▲ $6.247B ▲ $4.373B ▲ $1.874B ▲
Q2-2025 $1.199B ▼ $5.991B ▲ $4.256B ▲ $1.735B ▲
Q1-2025 $1.25B ▲ $5.729B ▲ $4.125B ▲ $1.604B ▲
Q4-2024 $114.705M ▼ $5.629B ▼ $4.107B ▲ $1.522B ▼
Q3-2024 $263.93M $5.792B $4.043B $1.748B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-187.55M ▼ $179.22M ▲ $-133.436M ▲ $-14.577M ▲ $31.207M ▲ $179.22M ▲
Q2-2025 $124.336M ▲ $174.719M ▲ $-165.668M ▼ $-14.695M ▼ $-5.644M ▲ $175.772M ▲
Q1-2025 $63.214M ▲ $103.514M ▼ $-103.414M ▼ $-12.832M ▲ $-12.732M ▲ $102.461M ▼
Q4-2024 $40.86M ▼ $128.08M ▼ $53.218M ▲ $-202.142M ▼ $-20.844M ▼ $127.557M ▼
Q3-2024 $95.027M $219.368M $-195.079M $-13.685M $10.604M $219.021M

Revenue by Products

Product Q3-2011Q1-2025Q2-2025Q3-2025
Casualty Segment
Casualty Segment
 $0 ▲$230.00M ▲$230.00M ▲$240.00M ▲
Property Insurance Segment
Property Insurance Segment
 $0 ▲$130.00M ▲$130.00M ▲$130.00M ▲
Surety Insurance Segment
Surety Insurance Segment
 $0 ▲$40.00M ▲$40.00M ▲$40.00M ▲
Casualty
Casualty
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement RLI’s income statement shows a company that grows steadily and stays profitable, but with some year‑to‑year swings. Revenue has trended upward over the past several years, reflecting expansion in its specialty insurance lines. Underwriting seems generally solid, with operating profits positive every year and improving recently. Net income has been consistently in the black, with one standout year of unusually strong earnings followed by a softer year and then a healthy rebound. That pattern is typical for a property‑casualty insurer where investment results and catastrophe losses can create bumps, but the overall picture is of a disciplined, profitable underwriter rather than a growth‑at‑any‑cost insurer.

Balance Sheet

Balance Sheet RLI’s balance sheet looks conservative and steadily stronger over time. Total assets have grown each year, and shareholders’ equity has also built up, which suggests profits are being retained to support future underwriting. Debt levels are low relative to the size of the company, which reduces financial risk and supports its strong credit ratings. Cash on hand is modest, but that is normal for an insurer that holds most of its financial resources in an investment portfolio rather than in raw cash. Overall, the balance sheet supports the idea of a financially solid, well‑capitalized insurer that has room to absorb shocks.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has been consistently positive and has generally grown over the last five years, indicating that the core insurance operations generate reliable cash. Free cash flow tracks very closely to operating cash flow because capital spending is minimal, which fits a service‑ and knowledge‑driven business like insurance. This combination of stable cash inflows and low investment needs gives RLI flexibility to support underwriting growth, withstand adverse loss years, and continue returning capital to shareholders when appropriate.

Competitive Edge

Competitive Edge RLI’s competitive position rests on specialization and discipline rather than size. It focuses on niche markets that many larger insurers overlook, building deep expertise and custom products in areas like transportation, surety, professional liability, and other specialty property and casualty lines. A long record of underwriting discipline—prioritizing profit over raw growth—has helped it maintain attractive loss ratios and strong financial ratings, which matter a great deal to brokers and customers. The employee ownership culture aligns staff incentives with long‑term results and supports that disciplined approach. Key risks include competition from larger carriers moving into specialty lines, pricing pressure as markets soften, and exposure to large or unusual losses inherent in specialty risks, but its track record suggests it manages these challenges thoughtfully.

Innovation and R&D

Innovation and R&D RLI is not a heavy spender on traditional research and development, but it is deliberate about adopting technology that supports its core strengths. Rather than building everything in‑house, it partners with specialized tech firms: using telematics and onboard data to better price and manage transportation risks, deploying AI‑driven platforms for investment and accounting operations, and rolling out digital tools to speed up claims reporting and service. Innovation here is practical and incremental—aimed at better underwriting, more efficient operations, and improved customer experience. The opportunity is to keep deepening data and analytics across its niche portfolios; the risk is that, as technology reshapes insurance, it must continue to move quickly enough to stay ahead of both traditional and tech‑enabled competitors.

Summary

Taken together, RLI looks like a conservative, specialty‑focused insurer with a long‑term orientation. The income statement shows consistent profitability with some natural volatility, the balance sheet is strong and lightly leveraged, and cash flows are robust and reliable. Competitively, its edge comes from underwriting discipline, focus on underserved niches, strong financial strength, and an ownership culture that fosters accountability. On the innovation front, it is a fast follower rather than a disruptor, using partnerships and data to enhance its existing model. Key things to watch going forward are how it navigates the insurance pricing cycle, manages large or catastrophic losses, and continues to integrate data and technology to preserve its specialty advantage in an increasingly data‑driven industry.

NEWS

November 13, 2025 · 4:15 PM UTC

Todd Bryant, RLI Chief Financial Officer to Retire; Aaron Diefenthaler Named Successor Effective January 1, 2026

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November 13, 2025 · 1:30 PM UTC

RLI Declares Regular & Special Dividends

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November 11, 2025 · 4:10 PM UTC

RLI Transportation Announces Partnership With Netradyne

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October 22, 2025 · 4:10 PM UTC

RLI Promotes Cathy Martin to Vice President, E&S Excess Liability

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October 20, 2025 · 4:36 PM UTC

RLI Reports Third Quarter 2025 Results

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