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Stock impact report

RLI Reports First Quarter 2020 Results

RLI Corp. (DE) (RLI) 
Last rli corp. (de) earnings: 4/21 04:10 pm Check Earnings Report
US:NYSE Investor Relations: rlicorp.com/investors
Company Research Source: Business Wire
PEORIA, Ill.--(BUSINESS WIRE)--RLI Corp. (NYSE: RLI) – RLI Corp. reported a first quarter 2020 net loss of $61.3 million (-$1.36 per share), compared to net earnings of $65.5 million ($1.46 per share) for the first quarter of 2019. Operating earnings(1) for the first quarter of 2020 were $29.8 million ($0.66 per share), compared to $31.8 million ($0.71 per share) for the same period in 2019. First QuarterEarnings Per Diluted Share2020 2019Net earnings (loss)$(1.36) $1.46Operating earnings (1)$0.66  $0.71(1) See discussion below: Non-GAAP and Performance Measures.Highlights for the quarter included:Underwriting income(1) of $17.2 million on a combined ratio(1)of 92.0.6% increase in gross premiums written.Net favorable development in prior years’ loss reserves, resulting in a $12.9 million net increase in underwriting income.Book value per share of $20.38, a decrease of 7% (inclusive of dividends) from year-end 2019.“First and foremost, I want to acknowledge the uncertainties we are Show less Read more
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