RLI Corp. (RLI) Stock

RLI Corp. (RLI) is a Financials stock trading at $65.38 (as of 2026-08-21), with a market capitalization of $6.00B and a trailing P/E of 14.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

RLI Corp. is an insurance company providing property and casualty coverage in the United States and internationally. Through its casualty and specialty lines, it offers products including general and professional liability, commercial and personal insurance, commercial automobile, inland marine, and management liability coverages for businesses and other insureds.

Understand RLI Corp.: how it makes money

RLI Corp. underwrites property and casualty insurance products in the United States and internationally, and makes money from the difference between the premiums it collects and the losses and expenses it pays out under its policies.

RLI’s operating profit is primarily an underwriting outcome, because the combined ratio ties together losses and expenses versus premiums, so changes in loss costs and expense levels flow through to underwriting income.

Revenue by segment (latest quarter)
Total	$0.4B

Business quality (Mixed): Clear underwriting KPIs are provided (combined ratio, loss ratio, expense ratio, underwriting income). Segment revenue detail is limited in the provided facts, so the view is mostly consolidated.

Valuation: At 13× earnings, RLI trades in line with the Insurance average (13×). Note: one-time items can distort reported P/E.

Bull case

Underwriting profitability in the quarter, with a reported Combined Ratio of 86.0 and Underwriting Income of 0.06 USD_B: This indicates premiums and underwriting performance exceeded the level implied by losses and expenses for the period.
Property underwriting looks strong versus Surety, with a Property Combined Ratio of 61.9 and a Surety Combined Ratio of 93.7: Within the provided KPIs, property performance appears more favorable than surety performance.

Bear case

Results are exposed to catastrophe and large-loss events, with reported catastrophe loss estimates including Hawaii Wildfires of 0.07 USD_B, Net Estimate of Maui Wildfires of 0.06 USD_B, and Hurricane Milton Losses of 0.05 USD_B: Catastrophe outcomes can materially influence losses and therefore the combined ratio.
Underwriting outcomes can be affected by reserve movements, with Favorable Prior Years Loss Reserve Development (Property Segment) of 0.01 USD_B: If reserve development reverses, underwriting income and the combined ratio could be pressured.

Valuation — source: SEC EDGAR (first-party)
Price	$65.38
Market Cap	$6.00B
P/E Ratio	14.9
EV / EBITDA	12.5
Price / Book	3.42
Price / Sales	3.10
FCF Yield	12.0%
DCF Value (model)	$104.95
DCF Upside vs Price	60.5%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.88B
Net Margin	21.4%
Revenue Growth (YoY)	6.3%
EPS Growth (YoY)	16.1%
FCF Growth (YoY)	9.6%

Valuation vs Sector & Industry
Stock P/E	14.9
Sector P/E (Financials)	15.1
Industry P/E (Insurance)	13.0
vs Sector	-1.3%
vs Industry	14.4%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($604.54M)
Institutional Holders Tracked	10
Congressional Trades (recent)	7

Company
Sector	Financials
Industry	Insurance
CEO	Craig William Kliethermes
Employees	1,147
Country	US
IPO Date	1980-03-17

Related Companies (Business model: Property & Casualty Insurer; 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.