RLI 3Q Net Down 68%, Hurt By Storms
NU Online News Service, Oct. 15, 3:14 p.m. EDT?The Peoria, Ill.-based insurer RLI Corp. reported its third-quarter net earnings declined by 68 percent from $25.4 million to $8.3 million.[@@]
The company said its results were undermined by combined effects of four hurricanes making landfall in the Southeastern United States this past quarter. RLI had already announced that these storms resulted in $12.4 million of after-tax losses for the company's third quarter.
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