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Side-by-side financial comparison of RLI CORP (RLI) and REINSURANCE GROUP OF AMERICA INC (RZC), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
REINSURANCE GROUP OF AMERICA INC is the larger business by last-quarter revenue ($6.6B vs $465.7M, roughly 14.2× RLI CORP). RLI CORP runs the higher net margin — 19.6% vs 7.0%, a 12.6% gap on every dollar of revenue. On growth, REINSURANCE GROUP OF AMERICA INC posted the faster year-over-year revenue change (26.6% vs 6.1%). Over the past eight quarters, REINSURANCE GROUP OF AMERICA INC's revenue compounded faster (2.3% CAGR vs 2.3%).
RLI Corp. is an American insurance company specializing in property insurance and casualty insurance. It is headquartered in Peoria, Illinois.
Reinsurance Group of America, Incorporated is a holding company for a global life and health reinsurance entity based in Greater St. Louis within the western suburb of Chesterfield, Missouri, United States. With approximately $3.9 trillion of life reinsurance in force and assets of $118.7 billion as of December 31, 2024, RGA has grown to become the only international company to focus primarily on life and health-related reinsurance.
RLI vs RZC — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $465.7M | $6.6B |
| Net Profit | $91.2M | $465.0M |
| Gross Margin | — | — |
| Operating Margin | 24.4% | 7.7% |
| Net Margin | 19.6% | 7.0% |
| Revenue YoY | 6.1% | 26.6% |
| Net Profit YoY | 123.1% | 210.0% |
| EPS (diluted) | $1.00 | $6.91 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $465.7M | $6.6B | ||
| Q3 25 | $509.3M | $6.2B | ||
| Q2 25 | $499.8M | $5.6B | ||
| Q1 25 | $407.7M | $5.3B | ||
| Q4 24 | $439.1M | $5.2B | ||
| Q3 24 | $470.0M | $5.7B | ||
| Q2 24 | $416.4M | $4.9B | ||
| Q1 24 | $444.8M | $6.3B |
| Q4 25 | $91.2M | $465.0M | ||
| Q3 25 | $124.6M | $253.0M | ||
| Q2 25 | $124.3M | $180.0M | ||
| Q1 25 | $63.2M | $286.0M | ||
| Q4 24 | $40.9M | $150.0M | ||
| Q3 24 | $95.0M | $156.0M | ||
| Q2 24 | $82.0M | $203.0M | ||
| Q1 24 | $127.9M | $210.0M |
| Q4 25 | 24.4% | 7.7% | ||
| Q3 25 | 30.9% | 5.2% | ||
| Q2 25 | 31.3% | 6.1% | ||
| Q1 25 | 19.3% | 7.0% | ||
| Q4 24 | 10.8% | 4.3% | ||
| Q3 24 | 24.9% | 3.8% | ||
| Q2 24 | 24.8% | 5.5% | ||
| Q1 24 | 36.0% | 4.3% |
| Q4 25 | 19.6% | 7.0% | ||
| Q3 25 | 24.5% | 4.1% | ||
| Q2 25 | 24.9% | 3.2% | ||
| Q1 25 | 15.5% | 5.4% | ||
| Q4 24 | 9.3% | 2.9% | ||
| Q3 24 | 20.2% | 2.8% | ||
| Q2 24 | 19.7% | 4.2% | ||
| Q1 24 | 28.8% | 3.3% |
| Q4 25 | $1.00 | $6.91 | ||
| Q3 25 | $1.35 | $3.81 | ||
| Q2 25 | $1.34 | $2.70 | ||
| Q1 25 | $0.68 | $4.27 | ||
| Q4 24 | $-2.87 | $2.21 | ||
| Q3 24 | $2.06 | $2.33 | ||
| Q2 24 | $1.78 | $3.03 | ||
| Q1 24 | $2.77 | $3.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $4.2B |
| Total DebtLower is stronger | — | $5.7B |
| Stockholders' EquityBook value | $1.8B | $13.5B |
| Total Assets | $6.2B | $156.6B |
| Debt / EquityLower = less leverage | — | 0.42× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $4.6B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.2B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $4.6B | ||
| Q1 24 | — | $5.9B |
| Q4 25 | — | $5.7B | ||
| Q3 25 | $100.0M | $5.7B | ||
| Q2 25 | $100.0M | $5.7B | ||
| Q1 25 | $100.0M | $5.7B | ||
| Q4 24 | $100.0M | $5.0B | ||
| Q3 24 | $100.0M | $5.1B | ||
| Q2 24 | $100.0M | $5.1B | ||
| Q1 24 | $100.0M | $4.4B |
| Q4 25 | $1.8B | $13.5B | ||
| Q3 25 | $1.9B | $13.0B | ||
| Q2 25 | $1.7B | $12.1B | ||
| Q1 25 | $1.6B | $11.4B | ||
| Q4 24 | $1.5B | $10.8B | ||
| Q3 24 | $1.7B | $11.1B | ||
| Q2 24 | $1.6B | $9.7B | ||
| Q1 24 | $1.5B | $9.5B |
| Q4 25 | $6.2B | $156.6B | ||
| Q3 25 | $6.2B | $152.0B | ||
| Q2 25 | $6.0B | $133.5B | ||
| Q1 25 | $5.7B | $128.2B | ||
| Q4 24 | $5.6B | $118.7B | ||
| Q3 24 | $5.8B | $120.3B | ||
| Q2 24 | $5.5B | $109.9B | ||
| Q1 24 | $5.3B | $106.0B |
| Q4 25 | — | 0.42× | ||
| Q3 25 | 0.05× | 0.44× | ||
| Q2 25 | 0.06× | 0.48× | ||
| Q1 25 | 0.06× | 0.50× | ||
| Q4 24 | 0.07× | 0.47× | ||
| Q3 24 | 0.06× | 0.46× | ||
| Q2 24 | 0.06× | 0.52× | ||
| Q1 24 | 0.07× | 0.47× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $156.8M | $7.3B |
| Free Cash FlowOCF − Capex | $155.0M | — |
| FCF MarginFCF / Revenue | 33.3% | — |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 0.4% | — |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 1.72× | 15.76× |
| TTM Free Cash FlowTrailing 4 quarters | $608.7M | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $156.8M | $7.3B | ||
| Q3 25 | $179.2M | $-990.0M | ||
| Q2 25 | $174.7M | $-820.0M | ||
| Q1 25 | $103.5M | $-1.4B | ||
| Q4 24 | $128.1M | $17.1B | ||
| Q3 24 | $219.4M | $-1.1B | ||
| Q2 24 | $141.8M | $-967.0M | ||
| Q1 24 | $70.9M | $-5.7B |
| Q4 25 | $155.0M | — | ||
| Q3 25 | $177.8M | — | ||
| Q2 25 | $173.4M | — | ||
| Q1 25 | $102.5M | — | ||
| Q4 24 | $127.6M | — | ||
| Q3 24 | $219.0M | — | ||
| Q2 24 | $139.1M | — | ||
| Q1 24 | $69.9M | — |
| Q4 25 | 33.3% | — | ||
| Q3 25 | 34.9% | — | ||
| Q2 25 | 34.7% | — | ||
| Q1 25 | 25.1% | — | ||
| Q4 24 | 29.0% | — | ||
| Q3 24 | 46.6% | — | ||
| Q2 24 | 33.4% | — | ||
| Q1 24 | 15.7% | — |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 0.2% | — |
| Q4 25 | 1.72× | 15.76× | ||
| Q3 25 | 1.44× | -3.91× | ||
| Q2 25 | 1.41× | -4.56× | ||
| Q1 25 | 1.64× | -5.00× | ||
| Q4 24 | 3.13× | 114.27× | ||
| Q3 24 | 2.31× | -6.84× | ||
| Q2 24 | 1.73× | -4.76× | ||
| Q1 24 | 0.55× | -27.31× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
RLI
| Casualty Segment | $246.8M | 53% |
| Property Insurance Segment | $122.5M | 26% |
| Other | $59.3M | 13% |
| Surety Insurance Segment | $37.1M | 8% |
RZC
Segment breakdown not available.
