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RLI Corp. (Symbol: RLI) is a specialty insurance company offering a diverse range of property and casualty coverages, along with surety bonds, catering to niche or underserved markets. The company's core strength lies in combining profitable underwriting, solid investment returns, and effective capital management to ensure consistent, long-term growth in shareholder value.
Founded with a vision to exceed customer expectations, RLI provides tailor-made products that address demands where other insurance companies do not compete. This approach has allowed RLI to build a loyal customer base and achieve significant milestones in the insurance industry.
RLI's operations are extensive, with more than 850 employees spread across 50 locations in the United States. Their business model revolves around hiring the best talent in the industry and empowering them with the resources and autonomy to drive profitable growth. This strategy ensures that RLI remains at the forefront of innovation and customer satisfaction.
The company's insurance products are divided into three main segments: Casualty, Property, and Surety. The Casualty segment is the primary revenue driver, offering insurance in specialty admitted markets for unique risks and in excess and surplus markets for risks that cannot be covered in standard admitted markets. RLI distributes these products through its wholly-owned branch offices, targeting both wholesale and retail producers.
Recent achievements and ongoing projects at RLI Corp. reflect its commitment to growth and innovation. The company continually seeks opportunities to expand its product offerings and improve its service quality. Through strategic partnerships and a keen focus on market-driven products, RLI aims to surpass the expectations of its shareholders and maintain its position as a leader in the specialty insurance market.
For more information, please visit www.rlicorp.com.
RLI Corp. (NYSE: RLI) will announce its fourth quarter 2021 earnings after market close on January 26, 2022. A conference call to discuss the results is scheduled for January 27, 2022, at 10 a.m. CST, which will be available via webcast. RLI Corp. specializes in niche property, casualty, and surety insurance, with an A+ rating from AM Best. The company has a strong track record, having paid and increased dividends for 46 consecutive years and delivering underwriting profits for 25 consecutive years.
RLI Corp. (NYSE: RLI) has promoted two experienced leaders to enhance its executive team. Brian A. Schick is now Vice President, Surety, overseeing the Contract, Miscellaneous, and Commercial Surety business. He has 27 years of industry experience. Thomas J. Ward has been elevated to Vice President, Risk Services, bringing 37 years of insurance expertise. RLI President & COO Craig Kliethermes expressed confidence in their ability to drive the company's growth and success, given their proven leadership and commitment.
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.
RLI Corp. (NYSE: RLI) has declared a special cash dividend of $2.00 per share and a regular quarterly cash dividend of $0.25 per share, both payable on December 20, 2021. The special dividend totals approximately $90 million, reflecting RLI's strong performance and commitment to returning capital to shareholders. In 2021, RLI returned $135 million to shareholders, contributing to a total of over $1.1 billion returned over the past decade. RLI has paid increasing dividends for 46 consecutive years, underscoring its financial strength.
RLI Corp. (NYSE: RLI) has appointed Craig W. Kliethermes as President and CEO, and Jennifer L. Klobnak as COO, effective January 1, 2022. This leadership change follows the retirement of Jonathan E. Michael, current Chairman & CEO. Kliethermes brings 36 years of insurance experience, while Klobnak has 21 years. Under Michael's 20-year leadership, RLI diversified its product portfolio, achieving 20 consecutive years of underwriting profit and significant returns for shareholders, outperforming S&P indexes.
RLI Corp. reported Q3 2021 net earnings of $29.2 million ($0.64 per share), down from $42.4 million ($0.93 per share) in Q3 2020. Operating earnings increased to $29.8 million ($0.65 per share) compared to $19.0 million ($0.42 per share) year-over-year. Highlights include an 18% rise in gross premiums written and a combined ratio of 94.6 despite losses from Hurricane Ida. Net investment income rose by 7.9% to $17.8 million, while comprehensive earnings fell to $17.0 million from $51.9 million a year earlier. The company sustained a $0.25 dividend, maintaining its dividend payout record.
RLI Corp. (NYSE: RLI) will release its third quarter 2021 earnings on October 20, 2021, after market close. A conference call to discuss results is scheduled for October 21, 2021, at 10 a.m. CDT. The company estimates pretax catastrophe losses between $30 million to $35 million for the quarter, primarily due to Hurricane Ida and other events. Loss estimates may change as claims data evolves. RLI has maintained a strong financial track record, paying increased dividends for 46 consecutive years and achieving underwriting profits for 25 years.
RLI Corp. (NYSE: RLI) has announced a third quarter dividend of $0.25 per share, consistent with the previous quarter. The dividend is payable on September 20, 2021, to shareholders of record as of August 31, 2021. The company has a strong history of increasing dividends, achieving this for 46 consecutive years. RLI's dividend yield stands at 0.93%, based on an annual dividend of $1.00 and a closing stock price of $107.27.
RLI Corp. reported a net earnings decrease to $81.8 million ($1.79 per share) in Q2 2021, down from $92.2 million ($2.04 per share) in Q2 2020. However, operating earnings rose to $49.9 million ($1.09 per share) from $34.8 million ($0.77 per share) in the previous year. The company achieved a combined ratio of 84.8 and a 25% increase in gross premiums written. Book value per share increased by 11% to $27.46. RLI also announced a quarterly dividend increase, marking the 46th consecutive year of dividend growth.
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