Peoria, Ill.-based specialty insurer RLI Corp. says second quarter net earnings rose 21 percent due to spring storm losses costing $3 million less than last year.
Q2 net earnings were up by $5 million to $30 million on net premiums earned of $155 million, a 9 percent increase. For the first half of the year, net earnings were up 4 percent to $55 million. Net premiums earned increased 7 percent to $299 million.
RLI says the company suffered $8.8 million in spring storm losses, less than its $12 million loss in 2012.
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