Oppenheimer Preivews Insurance Earnings (RLI)

Oppenheimer & Co. is out with a research report on the insurance sector, and in particular discusses RLI Corp. (NYSE: RLI). It has a Perform rating on shares.

In the research note, Oppenheimer says, "Investment Portfolios Should Mark Up...Again. Based on our analysis, we believe investment portfolios within our coverage universe could mark up anywhere between 1.5% and 3.5% during the quarter—raising GAAP book value by 3% to 7%. Equities were the best performing asset class in 3Q—the S&P 500 was up 11% over the three-month period. RLI and MKL should benefit from this positive trend in equity prices."

Shares of RLI gained 27 cents yesterday to close at $57.62.

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