Pelagos Insurance Capital vs RLI
Pelagos Insurance Capital is the larger business, with $2.50bn of revenue in fiscal 2025 against $1.88bn for RLI (1.3 times as much). RLI grew faster (6.3% against 3.3%). RLI kept more of each dollar of sales as profit: a net margin of 21.4% against 9.0%. RLI carries less debt relative to equity (11.2% against 35.6%).
| Latest fiscal year | Pelagos Insurance CapitalPLGO, 2025 | RLIRLI, 2025 |
|---|---|---|
| Revenue | $2.50bn | $1.88bn |
| Revenue growth | 3.3% | 6.3% |
| Net income | $226m | $403m |
| Operating margin | — | — |
| Net margin | 9.0% | 21.4% |
| Return on equity | 9.3% | 24.4% |
| Free cash flow | −$410m | $609m |
| Cash | $873m | $51.6m |
| Total debt | $855m | $200m |
| Debt to equity | 35.6% | 11.2% |
| Dividend per share | — | $2.63 |
| Dividend yield | 2.0% | 7.0% |
| Share buybacks | $261m | — |
| Employees | — | 1,193 |
| Market value | $2.54bn | $6.14bn |
| Price vs our value range | — | — |
| Moat score | — | 77 (Strong) |
| Insider trades, 12 months | 0 buys, 0 sales | 9 buys, 0 sales |