PEORIA, Ill. (AP) — PEORIA, Ill. (AP) — RLI Corp. (RLI) on Wednesday reported first-quarter profit of $54.9 million.

On a per-share basis, the Peoria, Illinois-based company said it had profit of 60 cents. Earnings, adjusted for investment costs, came to 83 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The specialty insurance company posted revenue of $423.9 million in the period. Its adjusted revenue was $453.7 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RLI at https://www.zacks.com/ap/RLI

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