附录99.1

rli保险 报告2024年第三季度业绩

伊利诺伊州皮奥里亚，2024年10月21日 - rli保险（纽交所：RLI） - rli保险报告2024年第三季度净收入为9500万美元（每股2.06美元），而2023年第三季度为1350万美元（每股0.29美元）。第三季度2024年的营运收益⁽¹⁾ 为6040万美元（每股1.31美元），而2023年同期为2830万美元（每股0.61美元）。


	第三季度				年至今
每股摊薄收益	2024		2023		2024		2023
净收益	$	2.06	$	0.29	$	6.60	$	4.12
经营收益 ⁽¹⁾	$	1.31	$	0.61	$	4.92	$	3.40

(1)

请参见以下讨论：非通用会计准则和绩效指标。

本季度的亮点包括：

●

承保收入⁽¹⁾ 综合比率达到了4070万美元⁽¹⁾ 达到了89.6%。

●

毛保费书面保费增长了13%。

●

净投资收入增加了15%。

●

有利的往年损失准备金发展导致核保收入增加1810万美元。

●

飓风贝里尔和赫莲造成核保收入净减少3270万美元。

●

每股净资产为38.17美元，比2023年年底（包括分红派息）增加26%。

“我们的主要关注点一直是帮助受最近飓风影响的客户，” rli保险公司总裁兼首席执行官Craig Kliethermes表示。“当灾难发生时，我们会迅速派遣我们的理赔专家评估损失并帮助保单持有人开始恢复。尽管第三季度出现了风暴活动，我们仍然在我们的投资组合中寻找平衡的顶线增长机会。我们多样化的业务模式、良好的风险选择和纪律的承保导致了90的合并比率。我要感谢所有rli保险公司的员工，感谢他们致力于保持我们的财务实力，确保rli保险公司始终是客户的稳定伙伴。”

承保收入

rli保险在2024年第三季度以89.6的合并比率实现了4070万美元的核保收入，而在2023年，该比率为98.7，核保收入为420万美元。

这两年的结果均包括先前年度损失准备金的有利发展，导致2024年和2023年核保收入分别增加1810万美元和1980万美元。这一有利发展被飓风Beryl和Helene的损失所抵消，在2023年来自夏威夷野火的损失减少了3270万美元，而2023年对野火的损失为5820万美元。

以下表格突出了第三季度各业务部门的核保收入和合并比率。


承保收入⁽¹⁾					综合比率⁽¹⁾
（单位百万）	2024		2023			2024	2023
Casualty	$	2.6	$	18.7	Casualty	98.8	90.1
产业		30.4		(20.7)	产业	77.2	121.8
保证金		7.7		6.2	保证金	78.8	81.7
总费用	$	40.7	$	4.2	总费用	89.6	98.7

(1)

请查看以下讨论：非通用会计准则和绩效指标。

其他收入

本季度的净投资收益增加了15%，达到3670万美元，相较于2023年同期。投资组合本季度的总回报率为4.8%，截至2024年9月30日的九个月为7.6%。

RLI本季度的综合收益为17530万美元（每股3.79美元），相较于2023年同季度的综合亏损4330万美元（每股-0.94美元）。除了净收益外，2024年的综合收益还包括固收投资组合的税后未实现收益，因为利率下降。

2024年第三季度支付的股息

2024年9月20日，公司支付了每股0.29美元的常规季度股息，与上一季度相同。RLI在过去五年中累计支付的股息总额超过82200万美元。

非通用会计原则和绩效度量

管理层在公司业绩报告中包含了某些非普遍接受的会计原则（非GAAP）财务指标。管理层认为这些非GAAP指标进一步解释了公司的运营业绩，并可以更全面地了解公司业务中潜在的趋势。这些指标不应被视为符合普遍接受的会计原则（GAAP）确定的指标的替代品。此外，我们对这些项目的定义可能与其他公司使用的定义不可比较。

经营收益和每股经营收益（EPS）包括我们的GAAP净收益经过调整后的净实现收益/亏损，权益证券净未实现收益/亏损以及相关税项。净收益和每股净收益是与经营收益和经营EPS最直接可比的GAAP财务指标。将经营收益和经营EPS与可比的GAAP财务指标的调和表包含在以下2024年度财务亮点中。

核保收益或利润代表我们保险业务的税前盈利能力，是通过净已赚保费减去赔付和结算费用，保单获取成本和保险营业费用得出的，这些都是GAAP财务指标。综合比率是由核保收益元件的组成衍生出来的，是财产和意外伤害保险公司常用的绩效衡量标准，并计算为赔付和结算费用、保单获取成本和保险营业费用之和除以净已赚保费，这些都是GAAP指标。

其他资讯

2024年10月22日上午10点中部夏令时间（CDT），RLI管理层将举行电话会议，与保险行业分析师讨论季度业绩。有兴趣的人可以在 https://events.q4inc.com/attendee/811172831.

除了历史信息外，此新闻稿可能包含前瞻性声明（在1933年证券法第27A条和1934年证券交易法第21E条的含义内），包括但不限于反映我们对公司未来业绩或业务部门以及未来市场状况的当前预期的声明。这些声明受到某些风险因素的影响，可能导致实际结果出现重大差异。可能影响未来结果的各种风险因素列在公司向证券交易委员会提交的文件中，包括截至2023年12月31日的10-k年度报告中。

关于rli保险

RLI Corp.（纽交所: RLI）是一家专业保险公司，为特定财产、意外和保证市场提供保险服务。该公司为全国商业和个人客户提供深厚的承保专业知识和优质服务。RLI的产品通过其保险子公司提供 - RLI保险公司、Mt. Hawley保险公司和承包商保险公司。RLI的所有保险子公司均由Am Best Company评定为A+（优秀）。 RLI已连续49年支付并增加常规股利，并连续28年实现承保利润。要了解更多关于RLI的信息，请访问 www.rlicorp.com.

媒体联系人

Aaron Diefenthaler

首席投资官和财务总监

309-693-5846

Aaron.Diefenthaler@rlicorp.com

Supplemental disclosure regarding the earnings impact of specific items:


	Reserve Development⁽¹⁾ and Catastrophe Losses,
	Net of Reinsurance
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in millions, except per share amounts)	2024		2023		2024		2023
Favorable development in casualty prior years' reserves	$	9.0	$	22.1	$	40.0	$	67.0
Favorable (unfavorable) development in property prior years' reserves	$	4.4	$	(1.9)	$	28.5	$	14.3
Favorable development in surety prior years' reserves	$	3.1	$	0.8	$	10.9	$	8.2

Net incurred losses related to:
2024 storms	$	(2.0)	$	—	$	(30.0)	$	—
Hurricanes Beryl and Helene	$	(37.0)	$	—	$	(37.0)	$	—
2023 and prior events	$	4.0	$	(55.2)	$	6.0	$	(74.1)
Reinstatement premium from events	$	—	$	(14.4)	$	—	$	(14.4)

	Operating Earnings Per Share
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
Operating Earnings Per Share⁽²⁾	$	1.31	$	0.61	$	4.92	$	3.40

Specific items included in operating earnings per share:^{(1) (3)}
Net favorable development in casualty prior years' reserves	$	0.12	$	0.33	$	0.55	$	1.00
Net favorable (unfavorable) development in property prior years' reserves	$	0.07	$	(0.04)	$	0.44	$	0.20
Net favorable development in surety prior years' reserves	$	0.05	$	0.01	$	0.17	$	0.12

Net incurred losses related to:
2024 storms	$	(0.03)	$	—	$	(0.44)	$	—
Hurricanes Beryl and Helene	$	(0.54)	$	—	$	(0.54)	$	—
2023 and prior events (incurred loss and reinstatement premium)	$	0.06	$	(1.02)	$	0.09	$	(1.31)

(1)	Reserve development reflects changes from previously estimated losses.

(2)	See discussion above: Non-GAAP and Performance Measures.

(3)	Items included in operating earnings per share are after tax and incorporates incentive and profit sharing-related impacts which affected policy acquisition, insurance operating and general corporate expenses.

RLI CORP

2024 FINANCIAL HIGHLIGHTS

(Unaudited)

(Dollars in thousands, except per share amounts)


	Three Months Ended September 30,						Nine Months Ended September 30,
SUMMARIZED INCOME STATEMENT DATA:	2024		2023		% Change		2024			2023			% Change
Net premiums earned	$	389,489	$	318,409	22.3	%	$	1,129,230		$	948,412		19.1	%
Net investment income		36,694		31,963	14.8	%		103,502			87,835		17.8	%
Net realized gains		5,420		6,558	(17.4)	%		11,222			26,758		(58.1)	%
Net unrealized gains (losses) on equity securities		38,392		(25,236)	NM			87,314			15,474		NM
Consolidated revenue	$	469,995	$	331,694	41.7	%	$	1,331,268		$	1,078,479		23.4	%
Loss and settlement expenses		202,118		189,558	6.6	%		513,741			457,989		12.2	%
Policy acquisition costs		117,811		103,013	14.4	%		342,186			307,083		11.4	%
Insurance operating expenses		28,868		21,591	33.7	%		84,892			70,002		21.3	%
Interest expense on debt		1,617		1,873	(13.7)	%		4,839			5,928		(18.4)	%
General corporate expenses		3,994		2,372	68.4	%		13,144			10,805		21.6	%
Total expenses	$	354,408	$	318,407	11.3	%	$	958,802		$	851,807		12.6	%
Equity in earnings of unconsolidated investees		1,238		1,732	(28.5)	%		7,653			7,169		6.8	%
Earnings before income taxes	$	116,825	$	15,019	NM		$	380,119		$	233,841		62.6	%
Income tax expense		21,798		1,483	NM			75,200			43,842		71.5	%
Net earnings	$	95,027	$	13,536	NM		$	304,919		$	189,999		60.5	%

Other comprehensive earnings (loss), net of tax		80,293		(56,834)	NM			59,779			(38,848)		NM
Comprehensive earnings (loss)	$	175,320	$	(43,298)	NM		$	364,698		$	151,151		141.3	%

Operating earnings⁽¹⁾:
Net earnings	$	95,027	$	13,536	NM		$	304,919		$	189,999		60.5	%
Less:
Net realized gains		(5,420)		(6,558)	(17.4)	%		(11,222)			(26,758)		(58.1)	%
Income tax on realized gains		1,139		1,377	(17.3)	%		2,357			5,619		(58.1)	%
Net unrealized (gains) losses on equity securities		(38,392)		25,236	NM			(87,314)			(15,474)		NM
Income tax on unrealized gains (losses) on equity securities		8,062		(5,299)	NM			18,335			3,250		NM
Operating earnings	$	60,416	$	28,292	113.5	%	$	227,075		$	156,636		45.0	%

Return on Equity:
Net earnings (trailing four quarters)								27.7	%		22.1	%
Comprehensive earnings (trailing four quarters)								38.4	%		20.3	%

Per Share Data:
Diluted:
Weighted average shares outstanding (in 000's)		46,220		46,065				46,185			46,067

Net earnings per share	$	2.06	$	0.29	NM		$	6.60		$	4.12		60.2	%
Less:
Net realized gains		(0.12)		(0.14)	(14.3)	%		(0.24)			(0.58)		(58.6)	%
Income tax on realized gains		0.02		0.03	(33.3)	%		0.05			0.13		(61.5)	%
Net unrealized (gains) losses on equity securities		(0.83)		0.55	NM			(1.89)			(0.34)		NM
Income tax on unrealized gains (losses) on equity securities		0.18		(0.12)	NM			0.40			0.07		NM
Operating earnings per share⁽¹⁾	$	1.31	$	0.61	114.8	%	$	4.92		$	3.40		44.7	%

Comprehensive earnings (loss) per share	$	3.79	$	(0.94)	NM		$	7.90		$	3.28		140.9	%

Cash dividends per share - ordinary	$	0.29	$	0.27	7.4	%	$	0.85		$	0.80		6.3	%

Net cash flow provided by operations	$	219,368	$	98,597	122.5	%	$	432,139		$	342,192		26.3	%

(1)	See discussion above: Non-GAAP and Performance Measures.

NM = Not Meaningful

RLI CORP

2024 FINANCIAL HIGHLIGHTS

(Unaudited)

(Dollars in thousands, except per share amounts)


	September 30,		December 31,
	2024		2023		% Change
SUMMARIZED BALANCE SHEET DATA:
Fixed income, at fair value	$	3,176,073	$	2,855,849	11.2	%
(amortized cost - $3,302,684 at 9/30/24)
(amortized cost - $3,054,391 at 12/31/23)
Equity securities, at fair value		729,738		590,041	23.7	%
(cost - $405,663 at 9/30/24)
(cost - $354,022 at 12/31/23)
Short-term investments		203,296		134,923	50.7	%
Other invested assets		53,993		59,081	(8.6)	%
Cash and cash equivalents		60,634		36,424	66.5	%
Total investments and cash	$	4,223,734	$	3,676,318	14.9	%

Accrued investment income		26,711		24,062	11.0	%
Premiums and reinsurance balances receivable		241,311		221,206	9.1	%
Ceded unearned premiums		120,845		112,257	7.7	%
Reinsurance balances recoverable on unpaid losses		759,540		757,349	0.3	%
Deferred policy acquisition costs		172,069		146,566	17.4	%
Property and equipment		44,644		46,715	(4.4)	%
Investment in unconsolidated investees		65,271		56,966	14.6	%
Goodwill and intangibles		53,562		53,562	0.0	%
Income taxes - deferred		—		15,872	(100.0)	%
Other assets		84,068		69,348	21.2	%
Total assets	$	5,791,755	$	5,180,221	11.8	%

Unpaid losses and settlement expenses	$	2,611,941	$	2,446,025	6.8	%
Unearned premiums		1,010,760		892,326	13.3	%
Reinsurance balances payable		43,423		71,507	(39.3)	%
Funds held		98,585		101,446	(2.8)	%
Income taxes - current		4,369		3,757	16.3	%
Income taxes - deferred		15,369		—	NM
Debt		100,000		100,000	—	%
Accrued expenses		105,813		108,880	(2.8)	%
Other liabilities		53,145		42,766	24.3	%
Total liabilities	$	4,043,405	$	3,766,707	7.3	%
Shareholders' equity		1,748,350		1,413,514	23.7	%
Total liabilities & shareholders' equity	$	5,791,755	$	5,180,221	11.8	%

OTHER DATA:
Common shares outstanding (in 000's)		45,810		45,640

Book value per share	$	38.17	$	30.97	23.2	%
Closing stock price per share	$	154.98	$	133.12	16.4	%

Statutory surplus	$	1,806,660	$	1,520,135	18.8	%

NM = Not Meaningful

RLI CORP

2024 FINANCIAL HIGHLIGHTS

UNDERWRITING SEGMENT DATA

(Unaudited)

(Dollars in thousands, except per share amounts)


Three Months Ended September 30,
			GAAP				GAAP				GAAP				GAAP
	Casualty		Ratios		Property		Ratios		Surety		Ratios		Total		Ratios
2024

Gross premiums written	$	294,267			$	173,813			$	39,710			$	507,790
Net premiums written		242,650				122,428				36,466				401,544
Net premiums earned		219,638				133,266				36,585				389,489
Net loss & settlement expenses		137,951	62.8	%		60,991	45.8	%		3,176	8.7	%		202,118	51.9	%
Net operating expenses		79,138	36.0	%		41,873	31.4	%		25,668	70.1	%		146,679	37.7	%
Underwriting income (loss)⁽¹⁾	$	2,549	98.8	%	$	30,402	77.2	%	$	7,741	78.8	%	$	40,692	89.6	%

2023

Gross premiums written	$	254,307			$	158,590			$	36,427			$	449,324
Net premiums written		207,177				93,207				34,340				334,724
Net premiums earned		189,305				94,988				34,116				318,409
Net loss & settlement expenses		101,750	53.7	%		81,932	86.3	%		5,876	17.2	%		189,558	59.5	%
Net operating expenses		68,885	36.4	%		33,727	35.5	%		21,992	64.5	%		124,604	39.2	%
Underwriting income (loss)⁽¹⁾	$	18,670	90.1	%	$	(20,671)	121.8	%	$	6,248	81.7	%	$	4,247	98.7	%


Nine Months Ended September 30,
			GAAP				GAAP				GAAP				GAAP
	Casualty		Ratios		Property		Ratios		Surety		Ratios		Total		Ratios
2024

Gross premiums written	$	826,152			$	590,191			$	123,495			$	1,539,838
Net premiums written		687,170				439,052				112,854				1,239,076
Net premiums earned		627,014				396,774				105,442				1,129,230
Net loss & settlement expenses		369,273	58.9	%		134,950	34.0	%		9,518	9.0	%		513,741	45.5	%
Net operating expenses		231,203	36.9	%		120,526	30.4	%		75,349	71.5	%		427,078	37.8	%
Underwriting income (loss)⁽¹⁾	$	26,538	95.8	%	$	141,298	64.4	%	$	20,575	80.5	%	$	188,411	83.3	%

2023

Gross premiums written	$	723,198			$	539,325			$	109,777			$	1,372,300
Net premiums written		597,356				395,903				103,591				1,096,850
Net premiums earned		562,384				285,596				100,432				948,412
Net loss & settlement expenses		296,633	52.7	%		149,508	52.3	%		11,848	11.8	%		457,989	48.3	%
Net operating expenses		208,273	37.1	%		102,499	35.9	%		66,313	66.0	%		377,085	39.7	%
Underwriting income (loss)⁽¹⁾	$	57,478	89.8	%	$	33,589	88.2	%	$	22,271	77.8	%	$	113,338	88.0	%

(1)	See discussion above: Non-GAAP and Performance Measures.