RLI Q4 net earnings drop to $0.44 from $1.24; Hurricane Milton loss $42.4M

RLI CORP

2024-FY EPS reported $3.74 revenue$1,770,384,000

Q4 net earnings $40.9M ($0.44 diluted), down from $114.6M ($1.24); operating earnings $0.41 vs $0.77.
Hurricane Milton caused $42.4M net underwriting loss in Q4; favorable prior-year reserve development added $8.7M.
Full-year gross premiums exceeded $2B for first time, up 11%; combined ratio 86.2 (29th consecutive profitable year).
Special dividend of $2.00/share paid Dec 20; regular dividend $0.145/share; $236M returned to shareholders in 2024.
Book value per share $16.59, up 24% including dividends; 2-for-1 stock split executed Jan 15, 2025.

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