Every material Form 8-K RLI has filed with the SEC since January 24, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
RLI furnished the transcript of its October 20, 2026 third-quarter earnings call, which discussed results reported the day before. Operating earnings rose, but the combined ratio worsened to 86.2 from 85.1, and GAAP earnings fell as equity securities values changed, so the results point in mixed directions for shareholders.
Operating EPS was $0.86 versus $0.82 a year earlier; GAAP net EPS was $0.88 versus $1.35.
Combined ratio was 86.2 versus 85.1; underwriting income was $58.8 million for the quarter.
Net investment income rose 13% to $46.7 million; comprehensive loss was $36.8 million, or $0.40 per share.
Quarterly dividend of $0.18 per share was paid; about 104,000 shares were repurchased at an average $60.51, with $232 million remaining under the authorization.
RLI Corp. reported third quarter 2026 net earnings of $81.0 million ($0.88 per diluted share), down 35.0% from $124.6 million ($1.35 per share) a year earlier. Operating earnings rose 4.6% to $79.3 million ($0.86 per share), but underwriting income fell to $58.8 million on a combined ratio of 86.2, compared with $60.5 million on 85.1 in the prior-year quarter.
Q3 2026 net earnings $81.0 million ($0.88 per share) vs. $124.6 million ($1.35) in Q3 2025
Q3 2026 operating earnings $79.3 million ($0.86 per share) vs. $75.8 million ($0.82) in Q3 2025
Underwriting income $58.8 million on an 86.2 combined ratio vs. $60.5 million on 85.1; gross premiums written rose 2% and net investment income rose 13%
Repurchased 103,573 shares for $6.3 million in Q3; $231.7 million of repurchase capacity remained as of September 30, 2026
RLI Corp. reported second quarter 2026 net earnings of $168.0 million ($1.82 per diluted share), up from $124.3 million ($1.34) a year earlier, but this figure includes $103.0 million of unrealized gains on equity securities. Operating earnings were $76.9 million ($0.83 per share), roughly flat with $76.2 million ($0.82) in 2025, while underwriting income fell to $59.9 million and the combined ratio worsened to 85.6 from 84.5. For shareholders, the quarter shows higher reported profit alongside weaker core underwriting results.
Net earnings of $168.0 million ($1.82 per diluted share) vs. $124.3 million ($1.34) in Q2 2025, up 35.1%
Operating earnings of $76.9 million ($0.83 per share) vs. $76.2 million ($0.82) in Q2 2025
Underwriting income of $59.9 million on an 85.6 combined ratio vs. $62.2 million on an 84.5 combined ratio in Q2 2025
Special dividend of $2.00 per share paid June 12, 2026, returning $184.0 million; $250.0 million buyback authorized May 14, 2026, with $12.0 million repurchased in the quarter
RLI Corp.'s Board appointed James H. Bradshaw as a director effective July 15, 2026, and named him to the Audit and Finance & Risk Committees. The Board determined he is independent under New York Stock Exchange rules, and he will stand for election at the next annual shareholders' meeting. The filing describes this as a board addition and reports no financial results.
James H. Bradshaw appointed to the Board effective July 15, 2026
Board determined Mr. Bradshaw is independent under NYSE rules
Appointed to the Audit and Finance & Risk Committees; term expires at the May 2027 shareholders' meeting
Bradshaw is Chairman of Gallagher Re North America, a role he assumed in 2024
RLI Corp. disclosed that director Michael Angelina notified the company on June 22, 2026 that he will resign from its Board of Directors effective June 30, 2026. The company said he is leaving to explore joining another insurance company's board and that the resignation was not due to any disagreement with the company.
Michael Angelina notified RLI on June 22, 2026 of his board resignation
Resignation takes effect June 30, 2026
Company says it was not the result of any disagreement over operations, policies, or management
RLI Corp. reported first quarter 2026 net earnings of $54.9 million ($0.60 per diluted share), down from $63.2 million ($0.68) a year earlier, and operating earnings of $76.8 million ($0.83 per share), down from $82.5 million ($0.89). Consolidated revenue rose 4.0%, but underwriting income fell to $57.8 million on an 86.0 combined ratio from $70.5 million on an 82.3 ratio.
Net earnings $54.9 million ($0.60 per share) vs. $63.2 million ($0.68) in Q1 2025, down 13.2%
Operating earnings $76.8 million ($0.83 per share) vs. $82.5 million ($0.89) in Q1 2025
Underwriting income $57.8 million on an 86.0 combined ratio vs. $70.5 million on an 82.3 ratio
Net investment income rose 15% to $42.3 million; gross premiums written rose 3%
RLI Corp. completed a public offering of $300 million in 5.375% senior notes due 2036 on March 3, 2026. The company also amended its credit agreement with PNC Bank, raising the aggregate commitment to $150 million and extending maturity to February 26, 2031, which adds $300 million of long-term debt for shareholders to consider.
$300 million aggregate principal of 5.375% Senior Notes due 2036 completed March 3, 2026
Interest payable June 1 and December 1, beginning June 1, 2026; redeemable before March 1, 2036 at the greater of par or a make-whole price
Amended and restated credit agreement with PNC Bank dated February 26, 2026: commitment raised to $150 million, accordion increased to $50 million, maturity extended to February 26, 2031
Indenture does not restrict additional debt or dividends and requires no financial ratios or minimum net worth or liquidity levels
RLI Corp. reported fourth-quarter 2025 net earnings of $91.2 million ($0.99 per diluted share), up from $40.9 million ($0.44 per share) a year earlier, and full-year net earnings of $403.3 million ($4.37 per share) versus $345.8 million ($3.74) in 2024. Underwriting income rose sharply on a lower combined ratio, although gross premiums written fell 2% in the fourth quarter.
Fourth-quarter 2025 underwriting income was $70.9 million on an 82.6 combined ratio, compared with $22.2 million on a 94.4 combined ratio in the fourth quarter of 2024.
Full-year 2025 operating earnings were $320.8 million ($3.47 per share), up from $269.3 million ($2.91 per share) in 2024.
Gross premiums written declined 2% in the fourth quarter and rose 1% for the full year.
A special dividend of $2.00 per share was paid on December 19, 2025, and year-end book value per share was $19.35, up 33% including dividends from year-end 2024.
RLI Corp. said Chief Financial Officer Todd Bryant will retire, stepping down from the CFO role on December 31, 2025. Aaron Diefenthaler, the company's Chief Investment Officer & Treasurer since 2012, will succeed him as CFO effective January 1, 2026. The filing does not include financial results, so the change is a leadership transition rather than a change in reported performance.
Todd Bryant will step down as CFO on December 31, 2025, after more than 30 years with the company; he joined in 1993 and has been CFO since 2019.
Bryant will not receive 2026 annual or long-term incentive awards, but will keep his current salary through retirement and an advisory role to support the transition.
Aaron Diefenthaler becomes CFO effective January 1, 2026, with an annual base salary of $400,000 and a preliminary award under the MVP Program.
RLI Corp. reported third quarter 2025 net earnings of $124.6 million ($1.35 per diluted share), up from $95.0 million ($1.03 per share) a year earlier. Operating earnings rose to $77.0 million ($0.83 per share) from $60.4 million ($0.65), and the combined ratio improved to 85.1 from 89.6, which supports shareholder returns through higher book value per share of $20.41.
Net earnings of $124.6 million ($1.35 per share), up 31.1% from the third quarter of 2024
Operating earnings of $77.0 million ($0.83 per share), up 27.4% from $60.4 million
Underwriting income of $60.5 million on a combined ratio of 85.1, compared with $40.7 million on 89.6 a year earlier
Gross premiums written were flat; net investment income rose 12% to $41.3 million
RLI Corp. reported second quarter 2025 GAAP net earnings of $124.3 million ($1.34 per share), up from $82.0 million ($0.89 per share) a year earlier. Operating earnings fell slightly to $78.1 million ($0.84 per share) from $79.3 million ($0.86 per share), and underwriting income declined to $62.2 million on an 84.5 combined ratio, versus $70.0 million on an 81.5 combined ratio in 2024.
Q2 2025 net earnings $124.3 million ($1.34 per share) vs. $82.0 million ($0.89) in Q2 2024
Q2 2025 operating earnings $78.1 million ($0.84 per share) vs. $79.3 million ($0.86) in Q2 2024
Underwriting income $62.2 million on an 84.5 combined ratio, vs. $70.0 million on an 81.5 combined ratio in Q2 2024
Net investment income rose 16% to $39.4 million; book value per share was $18.89 at June 30, 2025
RLI Corp. reported first quarter 2025 net earnings of $63.2 million, or $0.68 per diluted share, down 50.6% from $127.9 million a year earlier. Operating earnings, which exclude realized and unrealized investment gains and losses, fell 2.9% to $84.9 million, and underwriting income declined to $70.5 million, even as gross premiums written rose 5%.
Net earnings of $63.2 million ($0.68 per diluted share) vs. $127.9 million ($1.39) in Q1 2024, including $42.3 million of net unrealized losses on equity securities
Operating earnings of $84.9 million ($0.92 per share) vs. $87.4 million ($0.95), down 2.9%
Underwriting income of $70.5 million on an 82.3 combined ratio vs. $77.7 million on 78.5 a year earlier
Consolidated revenue fell 8.4% to $407.7 million; gross premiums written rose 5% to $491.1 million
RLI Corp. reported fourth-quarter 2024 net earnings of $40.9 million ($0.44 per share), down from $114.6 million ($1.24 per share) a year earlier, as losses from Hurricane Milton and a higher combined ratio of 94.4 reduced underwriting income. For the full year, net earnings rose 13.5% to $345.8 million ($3.74 per share), with underwriting income of $210.7 million on an 86.2 combined ratio, and the company returned $236 million to shareholders through special and regular dividends.
Q4 2024 underwriting income was $22.2 million on a 94.4 combined ratio, versus $59.8 million on an 82.7 ratio in Q4 2023.
Q4 2024 operating earnings per share were $0.41, compared with $0.77 in Q4 2023.
Full-year 2024 operating earnings per share were $2.87, compared with $2.47 in 2023.
A two-for-one stock split took effect January 15, 2025, and a special dividend of $2.00 per share was paid December 20, 2024.
RLI Corp. reported third quarter 2024 net earnings of $95.0 million ($2.06 per diluted share), up from $13.5 million ($0.29) a year earlier. Operating earnings rose to $60.4 million ($1.31 per share) from $28.3 million ($0.61), and underwriting income reached $40.7 million on a combined ratio of 89.6, compared with $4.2 million on 98.7 in the prior-year quarter. The results include net losses of $32.7 million from Hurricanes Beryl and Helene, but the filing shows substantially higher profit for shareholders.
Net earnings were $95.0 million ($2.06 per share) versus $13.5 million ($0.29 per share) in Q3 2023.
Operating earnings were $60.4 million ($1.31 per share) versus $28.3 million ($0.61 per share) in Q3 2023.
Underwriting income was $40.7 million on a combined ratio of 89.6, compared with $4.2 million on 98.7 a year earlier.
Hurricanes Beryl and Helene reduced underwriting income by $32.7 million net in the quarter.
RLI Corp. reported second quarter 2024 net earnings of $82.0 million ($1.78 per share), up from $77.7 million ($1.69 per share) a year earlier. Operating earnings rose to $79.3 million ($1.72 per share) from $53.3 million ($1.16 per share), and underwriting income reached $70.0 million on an 81.5 combined ratio, compared with 87.2 in the second quarter of 2023, which points to stronger profitability for shareholders.
Net earnings $82.0 million ($1.78 per share) vs. $77.7 million ($1.69 per share) in Q2 2023
Operating earnings $79.3 million ($1.72 per share) vs. $53.3 million ($1.16 per share) in Q2 2023
Underwriting income $70.0 million on an 81.5 combined ratio, vs. $41.2 million on an 87.2 combined ratio in Q2 2023
Gross premiums written up 11%; net investment income up 18% to $34.0 million
RLI Corp. reported first quarter 2024 net earnings of $127.9 million ($2.77 per diluted share), up from $98.8 million ($2.15 per share) a year earlier. Operating earnings rose 16.5% to $87.4 million ($1.89 per share), and underwriting income increased to $77.7 million, though the combined ratio worsened slightly to 78.5 from 77.9. The results were released in an 8-K furnishing Exhibit 99.1 and do not include changes to guidance.
Net earnings of $127.9 million, or $2.77 per diluted share, versus $98.8 million, or $2.15 per share, in Q1 2023
Operating earnings of $87.4 million, or $1.89 per share, versus $75.0 million, or $1.63 per share, in Q1 2023
Underwriting income of $77.7 million on a 78.5 combined ratio, versus $67.9 million on a 77.9 combined ratio in Q1 2023
Gross premiums written rose 13%; book value per share was $33.27
RLI Corp. reported fourth-quarter 2023 net earnings of $114.6 million ($2.49 per diluted share), up from $97.8 million ($2.13) a year earlier, and operating earnings of $1.54 per share, versus $1.53. For the full year, net earnings fell to $304.6 million ($6.61 per share) from $583.4 million ($12.74), a comparison that includes a $434.4 million gain from the 2022 sale of Maui Jim, while underwriting income declined to $173.2 million from $178.2 million. The mixed results show quarterly improvement but a lower full-year underwriting profit.
Q4 2023 underwriting income was $59.8 million on an 82.7 combined ratio, compared with $54.0 million on an 82.1 ratio in Q4 2022.
Full-year 2023 operating earnings were $4.94 per share, up from $4.69 in 2022, while full-year combined ratio worsened to 86.6 from 84.4.
Q4 gross premiums written rose 13%; the company paid a $2.00 per share special dividend, totaling $91.3 million, in the quarter.
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