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RLI® NEWS RELEASE FOR IMMEDIATE RELEASE EXHIBIT 99.1 RLI REPORTS FIRST QUARTER 2021 RESULTS PEORIA , ILLINOIS , April 21 , 2021 - RLI Corp. ( NYSE : RLI ) – RLI Corp. reported first quarter 2021 net earnings of $ 73.0 million ( $ 1.60 per share ) , compared to a net loss of $ 61.3 million ( - $ 1.36 per share ) for the first quarter of 2020. Operating earnings ( 1 ) for the first quarter of 2021 were $ 39.6 million ( $ 0.87 per share ) , compared to $ 29.8 million ( $ 0.66 per share ) for the same period in 2020 . Earnings Per Diluted Share Net earnings ( loss ) Operating earnings ( 1 ) ( 1 ) See discussion below : Non - GAAP and Performance Measures . Highlights for the quarter included : Underwriting income ( 1 ) of $ 29.9 million on a combined ratio ( 1 ) of 86.9 . First Quarter 2021 2020 $ $ 1.60 $ 0.87 $ ( 1.36 ) 0.66 Gross premiums written increased 20 % , up 10 % when adjusting for the return of premium to transportation customers impacted by the pandemic in 2020 . Net favorable development in prior years ' loss reserves , resulting in a $ 31.4 million net increase in underwriting income . Losses from winter storms , resulting in a $ 13.6 million net decrease in underwriting income . Book value per share of $ 25.55 , an increase of 2 % ( inclusive of dividends ) from year - end 2020 . " We are proud to report excellent first quarter results , " said RLI Corp. Chairman and CEO Jonathan E. Michael . “ Despite an active winter storm season , we achieved an 87 combined ratio while continuing to find growth opportunities across our portfolio . Premium volume was up over last year in all three segments , primarily driven by rate increases and expanded distribution . Looking ahead , we will continue to build on our 25 consecutive years of underwriting profitability and focus on growing book value , which is possible through the dedication of our employee owners . " Underwriting Income RLI achieved $ 29.9 million of underwriting income in the first quarter of 2021 on an 86.9 combined ratio , compared to $ 17.2 million on a 92.0 combined ratio in 2020 . Results for both years include net favorable development in prior years ' loss reserves , which totaled $ 31.4 million and $ 12.9 million for 2021 and 2020 , respectively . The following table highlights underwriting income and combined ratios by segment . Underwriting Income ( Loss ) ( 1 ) Combined Ratio ( 1 ) ( in millions ) 2021 2020 2021 2020 Casualty $ Property 24.9 $ ( 1.0 ) ( 1.3 ) Casualty 83.3 100.9 9.9 Property 101.9 77.7 Surety 6.0 8.6 Surety 78.5 68.9 Total $ 29.9 $ 17.2 Total 86.9 92.0 ( 1 ) See discussion below : Non - GAAP and Performance Measures . --more-- PROPERTY CASUALTY SURETY 9025 N. LINDBERGH DR . , PEORIA , IL 61615 | 309.692.1000 | RLICORP.COM