RLI Corp. reported second quarter 2025 net earnings of $124.3 million, or $1.34 per share, a significant increase of 51.6% from $82.0 million, or $0.89 per share, in Q2 2024. Operating earnings for the quarter were $78.1 million, or $0.84 per share, a slight decrease of 1.5% from $79.3 million, or $0.86 per share, in the prior year.
The company achieved $62.2 million of underwriting income in the second quarter on an 84.5 combined ratio, compared to $70.0 million on an 81.5 combined ratio in Q2 2024. Net investment income increased 16% to $39.4 million, contributing positively to overall earnings. Favorable prior year loss reserve development added $24.4 million to underwriting income.
Book value per share increased 16% from year-end 2024, reflecting strong comprehensive earnings. Operating cash flow remained robust at $174.7 million, up 23.2% from Q2 2024. Gross premiums written saw growth in Casualty (7%) and Surety (7%), though Property premiums declined by 10%.
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