Peoria, Ill.-based specialty insurer RLI Corp. says secondquarter net earnings rose 21 percent due to spring storm lossescosting $3 million less than last year.
|Q2 net earnings were up by $5 million to $30 million on netpremiums earned of $155 million, a 9 percent increase. For thefirst half of the year, net earnings were up 4 percent to $55million. Net premiums earned increased 7 percent to $299million.
|RLI says the company suffered $8.8 million in spring stormlosses, less than its $12 million loss in 2012.
|The company's combined ratio dropped 1.3 points in the quarterto 83.4.
|During a conference call with financial analysts, President andChief Operating Officer Michael J. Stone, says the markets are“responding slowly” to spring storm events, but insurers arebeginning to increase rates.
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