Introduction:
Company Details:
Company Name: RLI CORP. (NYSE - RLI )
Service : Insurance
Service
Founded : 1965 A .D. by Gerald D. Stephens
Headquarter : Peoria , Illinois ,
U.S.
Website URL : www.rlicorp.com
Vision:
History:
It
was early 1960s, when founder of the company Gerald D.
Stephens realize the expense of
replacing contact lens, founded a contact lens insurance agency, and named it a
Replacement Lens, Inc. (RLI ). RLI became one of the first insurers (pioneer) that
initiated with the product “contact lens insurance” and emerged as a largest
insurance company with its kind. After this success, to expand business
operation, RLI entered into commercial
property and liability insurance field .
It also started expand its operation through various subsidiaries, wholesale
brokers, independent agents, and retail agencies.
1. RLI
Insurance Company
2. Mt.
Hawley Insurance Company
3. RLI
Indemnity Company
4. Contractors
Bonding and Insurance Company
Most
of RLI products are for business
houses and some of them are for individuals. These all products are designed to
meet specific needs of unique policyholders. Here is the list of RLI products.
1. Personal
Insurance Coverage
2. Surety
Bonds
3. Business
Insurance Coverage
·
Casualty
·
Marine
·
Reinsurance
·
Contractors Bonding and Insurance
·
Professional Services
·
Transportation
·
Executive Product Liability
·
Property
Financial
Information:
The
press release given by RLI Corp. on
the date 21th July, 2015 reported an excellent result in the second
quarter of 2015. It reported its operating earnings in the 2nd
quarter to be $34.1 million ($0.77 per share) which greater than operating
earnings of 2nd quarter, 2014 i.e., $28.9 million ($0.66 per share).
Earnings Per Diluted Share
|
2nd Quarters
|
|
2015
|
2014
|
|
Operating earnings
|
$0.77
|
$0.66
|
Net earnings
|
$0.84
|
$0.82
|
Highlight of 2nd Quarter, 2015:
·
Achieved a combined ratio of 79.8, because
of increase in the underwriting income i.e., $34. 8million.
·
Decrease in gross premiums written by
6%, which exhibits the impacts of exit from previously announced crop
re-insurance.
·
Net increase in underwriting income by
$30.1million resulting from favorable improvements in previous years loss
reserves.
·
Net decrease in underwriting income by
$6.3million resulting from 2015 storms.
·
2% increase in book value per share from
year end 2015.
Per Share Data
|
||||||
Particulars
|
3 Month Ended
June 30
|
6 Month Ended
June 30
|
||||
2015
|
2014
|
(%)
Change
|
2015
|
2014
|
(%)
Change
|
|
Weighted
average shares outstanding (in 000's)
|
44,019
|
43,688
|
44,008
|
43,669
|
||
EPS from operations
|
$ 0.77
|
$ 0.66
|
16.7 %
|
$ 1.27
|
$ 1.23
|
3.3 %
|
Realized gains, net of tax
|
0.07
|
0.16
|
-56.3 %
|
0.27
|
0.25
|
8.0
%
|
Net earnings per share
|
$ 0.84
|
$ 0.82
|
2.4 %
|
$ 1.54
|
$ 1.48
|
4.1 %
|
Comprehensive earnings per share
|
$ 0.28
|
$ 1.27
|
-78.0%
|
$ 0.80
|
$ 2.34
|
-65.8 %
|
Cash dividends per share
|
$ 0.19
|
$ 0.18
|
5.6 %
|
$ 0.37
|
$ 0.35
|
5.7 %
|
(Source:
RLI
Corp. Reports 2nd Quarter 2015 Results)
Particulars
|
June 30,2015
|
December 31, 2014
|
(%) change
|
Common shares outstanding (in 000's)
|
43,233
|
43,103
|
|
Book value per share
|
$
20.07
|
$
19.61
|
2.3
%
|
Closing stock price per share
|
$
51.39
|
$
49.40
|
4.0
%
|
Cash dividends per share - ordinary
(annualized)
|
$
0.75
|
$
0.71
|
5.6
%
|
Cash dividends per share - special
|
$
-
|
$
3.00
|
-
|
Statutory Surplus
|
$
878,143
|
$
849,297
|
3.4
%
|
(Source:
RLI
Corp. Reports 2nd Quarter 2015 Results)
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