RLI: 3 Key Takeaways for Long-Term Investors
On its third-quarter 2026 earnings call, held on Oct. 20, 2026, RLI (NYSE:RLI) reported an 86% combined ratio, which measures the percentage of earned premiums spent on losses and expenses. The specialty insurer maintained underwriting profitability despite softening property market prices and rate pressure in commercial lines. Three things management said stand out. Excess and surplus lines property premium fell 17% as standard insurance carriers returned to the market. Management refused to match competitor price cuts, opting instead to let underpriced policies walk away. RLI avoids setting sales volume targets for its staff. This structure lets underwriters contract volume when market pricing degrades, which protects profitability over market share. Continue reading