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US specialty insurer writing niche property, casualty and surety coverage that standard insurers often avoid.
US specialty insurer writing niche property, casualty and surety coverage that standard insurers often avoid.
Earns from premiums left after claims and costs, plus investment income on premiums held, much of it written as surplus lines: risks that standard insurers decline, reached through wholesale brokers. Casualty is the largest line, property exposes it to hurricane and earthquake losses, and surety bonds guarantee contractors' performance.
Moat: narrow (underwriting discipline, process know-how). Long underwriting track record in niche products it knows better than generalist insurers.
Headquarters: Peoria, Illinois, US · Founded: 1965 · Employees: 1,193
Size RLI (RLI) is a United States Financials company (Multi-Line Insurance) with a market value of $6.27B, the 1032nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $68.35 on 6 Nov 2026.
Performance Over six months the shares gained 39.4%, against +6.0% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 6.2% over the last twelve months (peer median +7.9%); the operating margin is 26.6% (peer median 15.0%).
Valuation It trades at 3.70× book value against a peer median of 1.21× (2nd most expensive of 21).
Price implies The share price implies a return on equity of about 15.4%; RLI delivers 22.1%, so the price asks less than the business earns today.
Credit RLI has 1 bond outstanding ($300M), rated BBB by the agencies and trading like BBB- at a weighted spread of 136 bp.
Short interest Short interest is 9.8% of the free float (15 Oct 2026).
Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.95B | $1.88B | $1.77B | $1.50B | $1.13B |
| Revenue growth | — | +6% | +18% | +33% | — |
| Net income | $395M | $403M | $346M | $305M | $583M |
| Free cash flow | $532M | $609M | $556M | $458M | $245M |
| Capital expenditure | $7.94M | $5.52M | $4.71M | $5.91M | $5.89M |
| Total debt | $318M | $115M | $116M | $115M | $214M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| RLI RLI | $6.27B | +39% | +6% | 22% | 3.70× | 15.4% |
| W. R. Berkley WRB | $27.9B | +16% | +1% | 19% | 2.91× | 12.8% |
| Markel MKL | $23.7B | +7% | -1% | 10% | 1.28× | 9.2% |
| Kinsale Capital KNSL | $8.64B | +26% | +8% | 28% | 4.70× | 30.6% |
| Old Republic International ORI | $9.50B | +1% | +11% | 18% | 1.62× | 10.4% |
| CNA Financial CNA | $12.8B | +9% | +2% | 10% | 1.25× | 7.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RLI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +21.4% | +2.0% | highest of 21 |
| 6-month return | +39.4% | +6.0% | highest of 21 |
| Return on equity | 22.1% | 15.4% | 4th highest of 21 |
| Price / book | 3.70× | 1.21× | 2nd most expensive of 21 |
| Trailing P/E | 15.9× | 9.5× | 7th most expensive of 21 |
| ROE the price implies | 15.4% | 8.1% | 4th most demanding of 21 |
| ROE delivered | 22.1% | 14.8% | 4th highest of 20 |
| Bond spread | 136 bp | 117 bp | 3rd widest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| RLI RLI | United States | $6.27B | +39% | +6% | 22% | 3.70× | 15.4% | 22.1% |
| Enact ACT | United States | $6.38B | +5% | +2% | 13% | 1.19× | 7.9% | 12.9% |
| Sony Financial 8729.T | Japan | $6.06B | +1% | -10% | 14% | 1.08× | 5.1% | 14.4% |
| China Reinsurance (Group) 1508.HK | Hong Kong | $6.64B | -5% | +11% | 10% | 0.40× | 5.5% | 9.7% |
| Db Insurance 005830.KS | South Korea | $6.90B | +2% | -14% | 17% | 0.85× | 5.1% | 17.0% |
| FWD 1828.HK | Hong Kong | $5.54B | +7% | +24% | 4% | 0.92× | 7.3% | 4.1% |
| Sunshine Insurance 6963.HK | Hong Kong | $5.35B | 0% | +8% | 14% | 0.66× | 5.4% | 13.7% |
| White Mountains Insurance WTM | United States | $5.35B | +5% | +21% | 22% | 0.99× | 6.3% | 21.9% |
| Great Eastern G07.SI | Singapore | $7.47B | +21% | +27% | 15% | 1.73× | 11.4% | 14.8% |
| Axis Capital AXS | United States | $7.60B | +7% | +10% | 16% | 1.33× | 8.1% | 16.0% |
| Lincoln National LNC | United States | $7.67B | +12% | +12% | 23% | 0.74× | 8.6% | 22.6% |
| CNO Financial CNO | United States | $5.09B | +20% | +2% | 17% | 2.19× | 16.0% | 16.9% |
| Hiscox HSX.L | United Kingdom | $8.08B | +18% | +4% | 17% | 2.06× | 15.1% | 16.6% |
| China Taiping Insurance 0966.HK | Hong Kong | $8.28B | -24% | +19% | 36% | 0.63× | 8.1% | 36.2% |
| Kinsale Capital KNSL | United States | $8.64B | +26% | +8% | 28% | 4.70× | 30.6% | 27.8% |
| Alm. Brand A/S ALMB.CO | Denmark | $3.70B | +16% | +3% | 9% | 2.19× | 7.3% | 8.8% |
| Hamilton Insurance HG | United States | $3.64B | +20% | +20% | 19% | 1.24× | 8.0% | 19.0% |
| Aditya Birla Capital ABCAPITAL.NS | India | $11.5B | +8% | +24% | 12% | 2.56× | 41.9% | 12.1% |
| Genworth Financial GNW | United States | $3.29B | -5% | -1% | 2% | 0.38× | 5.3% | 2.3% |
| Globe Life GL | United States | $12.1B | +4% | +6% | 21% | 2.08× | 11.7% | n/a |
| Unum UNM | United States | $12.2B | -5% | -5% | 3% | 1.52× | 8.1% | 2.6% |
RLI has 1 bond outstanding with $300M face value. The agencies rate it BBB; its bonds trade like BBB-. Weighted yield 6.28%, a spread of 136 bp over government bonds.