Page 1

RLIⓇ NEWS RELEASE EXHIBIT 99.1 FOR IMMEDIATE RELEASE RLI REPORTS SECOND QUARTER 2021 RESULTS PEORIA , ILLINOIS , July 21 , 2021 - RLI Corp. ( NYSE : RLI ) – RLI Corp. reported second quarter 2021 net earnings of $ 81.8 million ( $ 1.79 per share ) , compared to $ 92.2 million ( $ 2.04 per share ) for the second quarter of 2020 . Operating earnings ( 1 ) for the second quarter of 2021 were $ 49.9 million ( $ 1.09 per share ) , compared to $ 34.8 million ( $ 0.77 per share ) for the same period in 2020 . Earnings Per Diluted Share Net earnings Operating earnings ( 1 ) Second Quarter 2021 2020 Year to Date 2021 2020 $ $ 1.79 $ 1.09 $ 2.04 $ 0.77 $ 3.39 $ 0.68 1.96 $ 1.43 ( 1 ) See discussion below : Non - GAAP and Performance Measures . Highlights for the quarter included : • • Underwriting income ( 1 ) of $ 36.6 million on a combined ratio ( ¹ ) of 84.8 . 25 % increase in gross premiums written . Favorable development in prior years ' loss reserves , resulting in a $ 27.5 million net increase in underwriting income . Book value per share of $ 27.46 , an increase of 11 % ( inclusive of dividends ) from year - end 2020 . " We are pleased to report excellent second quarter financial results , " said RLI Corp. Chairman and CEO Jonathan E. Michael . " All three product segments contributed to our strong performance in the quarter . We achieved an 85 combined ratio and 25 % growth in gross written premiums . Favorable market conditions and the continued economic recovery enabled our disciplined underwriters to find more niche opportunities that match our risk appetite . Our capital base continues to grow , supported by our insurance operations and investment returns , and book value per share has increased 11 % year to date . " " During the quarter , we also announced an increase in ordinary dividends for the 46th consecutive year . We are proud of this track record and I want to thank our talented associates for their hard work and continued dedication to our customers . We recently welcomed many of our team members back to our offices and appreciate their perseverance over the past 18 months . " Underwriting Income RLI achieved $ 36.6 million of underwriting income in the second quarter of 2021 on an 84.8 combined ratio , compared to $ 24.2 million on an 88.4 combined ratio in 2020 . Results for both years include net favorable development in prior years ' loss reserves , which totaled $ 27.5 million and $ 21.6 million for 2021 and 2020 , respectively . The following table highlights underwriting income and combined ratios by segment . Underwriting Income ( 1 ) Combined Ratio ( 1 ) ( in millions ) 2021 2020 2021 2020 Casualty 26.4 $ 9.7 Casualty 83.1 92.8 Property 8.9 6.2 Property 84.1 86.4 Surety 1.3 8.3 Surety 95.6 70.6 Total 36.6 $ 24.2 Total 84.8 88.4 ( 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