RLI Corp. reported fourth quarter 2024 net earnings of $40.9 million, or $0.44 per share, and operating earnings of $38.4 million, or $0.41 per share. For the full year 2024, net earnings reached $345.8 million, or $3.74 per share, an increase of 13.5% from 2023, while operating earnings grew 16.6% to $265.4 million, or $2.87 per share.
The company achieved $22.2 million in underwriting income for the fourth quarter on a 94.4 combined ratio, contributing to a full-year underwriting income of $210.7 million with an 86.2 combined ratio. This marks RLI's 29th consecutive year of underwriting profitability, demonstrating consistent discipline in a competitive environment. Gross premiums written surpassed $2 billion for the first time, growing 11% for the year.
Net investment income increased 19% in the fourth quarter to $38.8 million, and 18.2% for the full year to $142.3 million. RLI returned $236 million to shareholders in 2024 through a $2.00 per share special cash dividend and a $0.145 per share regular quarterly dividend, paid on December 20, 2024. Book value per share increased 7.1% to $16.59 at year-end 2024.
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