RLI Corp., a US-based specialty insurer focused on property, casualty, and surety markets, has reported solid top-line growth as total gross premiums written increased by 3% to $503 million for the first quarter of 2026, led by the casualty segment, compared to $491 million in Q1’25.
For the quarter, net premiums written (NPW) were $417.6 million compared to $397 million in Q1’26, while net premiums earned were $411.3 million compared to $398.3 million in Q1’25.
The insurer’s underwriting income dipped to $57.8 million for Q1’26, with a combined ratio of 86% as compared to $70.5 million on an 82.3% combined ratio in Q1’25.
RLI explained that the results for both years include favourable development in prior years’ loss reserves, which resulted in a $31.3 million and $27.4 million net increase to underwriting income in 2026 and 2025, respectively.
For this quarter, the underwriting income was driven by the insurer’s property segment, which contributed $49.2 million, followed by casualty, adding $7.3 million, and lastly, surety contributed $2.3 million.
The insurer has reported a net earnings of $54.9 million for Q1’26, compared to $63.2 million for Q1’25. Meanwhile, operating earnings stand at $76.8 million, compared to $82.5 million in Q1’25.
RLI’s net investment income for the first quarter of 2026 increased 15% to $42.3 million, compared to $36.7 million in Q1’25.
The insurer saw an investment portfolio total return of -0.4% for this quarter, as comprehensive earnings dipped to $29.5 million, compared to $93.2 million in Q1’25.
RLI explained that, in addition to net earnings, comprehensive earnings for 2026 included after-tax unrealised losses from the fixed income portfolio, due to rising interest rates.
Craig Kliethermes, President & Chief Executive Officer, RLI Corp., commented, “We entered 2026 with positive underwriting results, delivering an 86 combined ratio across our diversified specialty portfolio.
“Our core performance remained solid to start the year. Gross premiums written grew 3%, led by our casualty segment, and net investment income increased 15%, contributing meaningfully to quarterly results and reflecting the continued strength of our investment portfolio.
“In a dynamic market, we remain focused on disciplined underwriting, rate adequacy, and strategically deploying capital to take advantage of opportunities and reward our shareholders.”
