Paul B. Medini Appointed to RLI Board of Directors

Rhea-AI Summary

RLI Corp. has appointed Paul B. Medini to its Board of Directors, effective November 1, 2022, until the next shareholders’ meeting in May 2023. Medini previously served as Senior VP and Chief Accounting Officer at Chubb Ltd. until August 2020, bringing over 40 years of experience in audit, accounting, and insurance. RLI Corp. Chairman Jonathan E. Michael expressed confidence in Medini's potential contributions to the company. RLI is a specialty insurer known for its solid financial performance, including increased dividends for 47 years and underwriting profits for 26 consecutive years.

Positive

• Paul Medini's extensive background may enhance RLI's strategic oversight.
• His appointment signifies RLI's commitment to strengthen its leadership team.

Negative

• The transition period may create temporary uncertainty within the board.

PEORIA, Ill.--(BUSINESS WIRE)-- RLI Corp. (NYSE: RLI) – RLI Corp. announced today that Paul B. Medini has been appointed to its Board of Directors. His term is effective November 1, 2022 and expires at RLI’s next shareholders’ meeting in May 2023, at which time he will stand for re-election.

Mr. Medini was most recently Senior Vice President and Chief Accounting Officer at Chubb Ltd. until his retirement in August 2020. He brings extensive audit, accounting and insurance experience to his new role following a 17-year career at ACE Group and Chubb, and 23-year career at PricewaterhouseCoopers, where he served as partner. He holds a bachelor’s and master’s degree in business administration from Pace University.

“We are pleased to welcome Paul to our Board of Directors,” said RLI Corp. Chairman Jonathan E. Michael. “He is an accomplished leader who brings a wealth of experience, talent and perspective to RLI. We are confident he will add tremendous value to our organization and look forward to working with him.”

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 47 consecutive years and delivered underwriting profits for 26 consecutive years. To learn more about RLI, visit www.rlicorp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221101006165/en/

Lisa Gates

Vice President, Marketing & Communications

309-692-1000 x5438

Lisa.Gates@rlicorp.com

Source: RLI Corp.

FAQ

What is the significance of Paul Medini's appointment to RLI Corp's Board of Directors?

Paul Medini's appointment brings extensive experience in auditing and insurance, which is expected to enhance the strategic direction of RLI Corp.

When does Paul Medini's term on the RLI Board expire?

Medini's term on the RLI Board will expire at the next shareholders’ meeting in May 2023.

What experience does Paul Medini bring to RLI Corp.?

Medini has over 40 years of experience, including senior roles at Chubb Ltd. and ACE Group, and a history with PricewaterhouseCoopers.

How might Paul Medini's leadership impact RLI Corp.?

His leadership may provide fresh perspectives and strengthen the company's operational oversight, positively influencing RLI's strategic initiatives.