RLI CORP (RLI) Form 10-Q — Oct 21, 2026
RLI Corp reported Q3 2026 net earnings of $81.0 million ($0.88 diluted EPS), down from $124.6 million ($1.35) a year ago, driven mainly by a swing from $42 million of unrealized equity gains to small unrealized losses and lower realized gains. Underwriting stayed profitable at an 86.2 combined ratio with $58.8 million of underwriting income, and 9M net earnings were $304 million versus $312 million in 2025. Underlying operations remain healthy: net premiums earned grew 4% to $1.25 billion for nine months on casualty growth (commercial excess/personal umbrella up 19%), net investment income rose 15% to $135 million, and favorable prior-year reserve development added $98 million pretax.
Key figures
- Eps
- $0.88 diluted Q3 2026 (vs $1.35 Q3 2025); $3.29 diluted 9M 2026 (vs $3.38)
- Revenue
- $476,963 thousand Q3 2026; $1,476,402 thousand 9M 2026
- Net Income
- $81,009 thousand Q3 2026; $303,922 thousand 9M 2026
- Total Debt
- $297 million
- Debt Amount
- $297 million outstanding; issued $300 million senior notes maturing June 1, 2036 at 5.375%
- Revenue Yoy
- 9M consolidated revenue +4% ($1,476.4M vs $1,416.8M)
- Cash Position
- $46 million cash and $254 million short-term investments at 9/30/26
- Interest Rate
- 5.375% on senior notes; 5.27% average on debt 9M 2026
- Maturity Date
- June 1, 2036 (senior notes); February 26, 2031 (PNC credit facility)
- Shares Outstanding
- 91732032
- Special dividend
- $2.00 per share paid June 12, 2026
- Effective tax rate 9m
- 19.6%
- Share repurchase plan
- $250 million authorized May 14, 2026; $18M repurchased
- Combined ratio 9m 2026
- 85.9
- Combined ratio q3 2025
- 85.1
- Combined ratio q3 2026
- 86.2
- Net investment income 9m
- $135.1M, +15%
- Gross premiums written 9m
- $1,605.8M, +3%
- Underwriting income 9m 2026
- $176.5M vs $193.3M prior year
- Fixed income unrealized loss
- $291.8M
- Consecutive years dividend increases
- 51
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.