AM Best Affirms A+ (Superior) Rating for RLI Corp., RLI Insurance Co., Mt. Hawley Insurance Co. and Contractors Bonding and Insurance Co.

Rhea-AI Summary

RLI Corp. (NYSE: RLI) has had its A+ (Superior) financial strength rating affirmed by AM Best for its insurance subsidiaries: RLI Insurance Company, Mt. Hawley Insurance Company, and Contractors Bonding and Insurance Company. Additionally, the Long-Term Issuer Credit Ratings of 'a' for RLI Corp. and 'aa' for its subsidiaries were confirmed. AM Best cited RLI's strong balance sheet, operating performance, favorable business profile, and effective enterprise risk management as key factors in the decision.

Positive

• A+ (Superior) financial strength rating affirmed by AM Best for RLI's subsidiaries.
• Long-Term Issuer Credit Ratings confirmed as 'a' (Excellent) for RLI Corp. and 'aa' (Superior) for its subsidiaries.
• RLI's strong balance sheet and operating performance noted by AM Best.

Negative

• None.

PEORIA, Ill.--(BUSINESS WIRE)-- RLI Corp. (NYSE: RLI) -- RLI Corp. announced today that its A+ (Superior) financial strength rating (FSR) has been affirmed by AM Best Company for the following insurance subsidiaries: RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company (CBIC).

AM Best also affirmed the Long-Term Issuer Credit Ratings (ICR) for each RLI company. The RLI Corp. ICR of “a” (Excellent) was affirmed and the ICRs of “aa” (Superior) have been affirmed for the following subsidiaries: RLI Insurance Company, Mt. Hawley Insurance Company and CBIC.

AM Best, a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry, stated in its press release that the ratings “reflect RLI’s balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, favorable business profile and very strong enterprise risk management.”

ABOUT RLI

RLI Corp. (NYSE: RLI) is a specialty insurer serving niche property, casualty and surety markets. The company provides deep underwriting expertise and superior service to commercial and personal lines customers nationwide. RLI’s products are offered through its insurance subsidiaries RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company. All of RLI’s subsidiaries are rated A+ “Superior” by AM Best Company. RLI has paid and increased regular dividends for 46 consecutive years and delivered underwriting profits for 25 consecutive years. To learn more about RLI, visit www.rlicorp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211130006037/en/

Aaron Diefenthaler

Vice President, Chief Investment Officer & Treasurer

309-693-5846

Aaron.Diefenthaler@rlicorp.com

Source: RLI Corp.

FAQ

What did AM Best affirm for RLI Corp. on its financial strength rating?

AM Best affirmed RLI Corp.'s A+ (Superior) financial strength rating for its insurance subsidiaries.

What are the Long-Term Issuer Credit Ratings for RLI Corp. as per AM Best?

AM Best affirmed an 'a' (Excellent) rating for RLI Corp. and 'aa' (Superior) for its subsidiaries.

How long has RLI Corp. paid increased regular dividends?

RLI Corp. has paid and increased regular dividends for 46 consecutive years.

What results has RLI Corp. delivered in terms of underwriting profits?

RLI Corp. has delivered underwriting profits for 25 consecutive years.

What factors contributed to AM Best's rating affirmation for RLI Corp.?

AM Best noted RLI's strong balance sheet strength, operating performance, favorable business profile, and effective enterprise risk management.