NU Online News Service, Oct. 19, 3:41 p.m. EDT
Specialty insurer RLI Corp. reported a 9.8 percent decline in 2010 third-quarter net income compared to the 2009 third-quarter net income, driven in part by a rise in loss and settlement expenses.
The Peoria, Ill.-based insurer said 2010 third-quarter net income was $28 million, compared to $31 million a year ago.
Net premiums earned increased 4.6 percent in the quarter to $128.3 million compared to $122.7 million in the 2009 third quarter. The company reported a combined ratio of 83.1, up from 81.3 in last year's third quarter.
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