Reserve releases drive RLI’s Q4 and 2011 profits
Continued reserve releases helped US insurer RLI post profitable results for the fourth quarter and full-year 2011, although the pace of releases declined in the fourth quarter.
RLI reported operating earnings of $28.9mn on a combined ratio of 81.5 percent for Q4. This was a slight deterioration from Q4 2010, when the firm recorded operating earnings of $35.1mn on a combined ratio of 76.3 percent.
The result was boosted by $10.6mn of reserve releases, primarily from the (re)insurer's casualty book...
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