RLI Corp., a U.S.-based specialty insurer focused on the property, casualty and surety markets, reported gross premiums increased 3% to $503 million in the first quarter of 2026, led by its casualty business, compared with $491 million in the first quarter of 2025.
Net premiums written (NPW) for the quarter were $417.6 million compared to $397 million in 1Q26, while net premiums earned were $411.3 million compared to $398.3 million in 1Q25.
The insurer’s underwriting revenue fell to $57.8 million in 1Q26, with a combined ratio of 86%, compared to $70.5 million, with a combined ratio of 82.3%, in 1Q25.
RLI explained that the two-year performance included good development of loss reserves in previous years, which resulted in a net increase in underwriting revenue of $31.3 million and $27.4 million in 2026 and 2025 respectively.
During the quarter, underwriting revenue was driven primarily by the insurer’s property division, which contributed $49.2 million, followed by the casualty division, which added $7.3 million, and lastly by sureties, which contributed $2.3 million.
The insurance company reported a net profit of $54.9 million in 1Q26, compared with a net profit of $63.2 million in 1Q25. Meanwhile, operating profit was $76.8 million, compared to $82.5 million in 1Q25.
RLI’s net investment income increased 15% to $42.3 million in the first quarter of 2026, compared with $36.7 million in the first quarter of 2025.
The insurer’s total portfolio return for the quarter was -0.4%, with consolidated income falling to $29.5 million, compared with $93.2 million in the first quarter of 2025.
RLI explained that in addition to net profit, comprehensive income for 2026 includes after-tax unrealized losses on the fixed income portfolio due to rising interest rates.
Craig Kliethermes, president and chief executive officer of RLI Corp., commented: “We entered 2026 with positive underwriting results, with a combined odds ratio of 86 across our diverse specialty product portfolio.
“Our core performance remained solid at the start of the year. Gross written premiums increased 3% and net investment income increased 15%, led by casualty, making a significant contribution to the 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 capitalize on opportunities and reward our shareholders.”
