RLI Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
January 25, 2017 at 10:15 pm
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RLI Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported net premiums earned of $187,869,000 against $179,371,000 a year ago. Consolidated revenue was $212,305,000 against $207,332,000 a year ago. Earnings before income taxes were $38,006,000 against $45,582,000 a year ago. Net earnings were $32,187,000 against $33,853,000 a year ago. Operating earnings were $24,854,000 against $24,618,000 a year ago. Diluted operating earnings per share were $0.56 against $0.56 a year ago. Diluted net earnings per share were $0.72 against $0.76 a year ago. Net cash flow provided by operations was $51,463,000 against $31,219,000 a year ago.
For the year, the company reported net premiums earned of $728,608,000 against $700,161,000 a year ago. Consolidated revenue was $816,328,000 against $794,634,000 a year ago. Earnings before income taxes were $157,082,000 against $196,682,000 a year ago. Net earnings were $114,920,000 against $137,544,000 a year ago. Operating earnings were $92,401,000 against $111,654,000 a year ago. Diluted operating earnings per share were $2.08 against $2.53 a year ago. Diluted net earnings per share were $2.59 against $3.12 a year ago. Net cash flow provided by operations was $174,463,000 against $152,586,000 a year ago. Book value per share of $18.74, an increase of 14% from year end 2015, inclusive of dividends. Return on equity was 13.2% against 16.1% a year ago.
RLI Corp. is a specialty insurer serving niche property, casualty, and surety markets. The Company provides underwriting expertise and service to commercial and personal line customers nationwide. The Companyâs segment includes Casualty, Property and Surety. The casualty portion of its business consists largely of commercial excess, personal umbrella, general liability, transportation, and management liability coverages, as well as package business and other specialty coverages, such as professional liability and workerâs compensation for office-based professionals. Its Property segment is comprised primarily of commercial fire, hurricane, earthquake, difference in conditions and marine coverages. Its Surety segment specializes in writing small to medium-sized contract surety coverages, including payment and performance bonds. Its products are offered through its insurance subsidiaries, RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company.
RLI CORP. 
