RLI, a specialty insurance company in the US, has reported total revenues of $142.81m for the second quarter of 2010, a decrease of 1.3% compared to $144.74m for the same quarter in 2009.
The company’s operating income for the second quarter of 2010 were $32.2m, or $1.52 per share, compared to $28.7m, or $1.32 per share, for the same period last year.
The company reported net premiums earned of $121.76m for the second quarter of 2010, compared to $122.49m for the same quarter in 2009.
For the quarter ended June 30, 2010, the company posted net income of $34.99m, or $1.65 per share, compared to $34.08m, or $1.57 per share, for the same period last year.
Jonathan Michael, president and CEO of RLI, said: “RLI’s property segment experienced increased written premiums, as we expanded our diversification into crop and other assumed property reinsurance.
“We continue to seek new opportunities to diversify our product mix and expand our product footprint, while keeping our balance sheet strong. For example, our design professional product group is executing on its business plan and making progress toward introducing new product offerings for architects and engineers.”