• RLI average return on tangible equity for 2023 was 39.58, a 14.1% decline from 2022.
• RLI average return on tangible equity for 2022 was 34.69, a 38.21% increase from 2021.
• RLI average return on tangible equity for 2021 was 25.1, a 108.13% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.