RLI Announces Third Quarter Earnings Release & Teleconference; Estimates Third Quarter Catastrophe Losses

Rhea-AI Summary

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.

Positive

• RLI has paid and increased regular dividends for 46 consecutive years.
• The company has delivered underwriting profits for 25 consecutive years.

Negative

• Estimated pretax catastrophe losses of $30 million to $35 million could affect quarterly earnings.

PEORIA, Ill.--(BUSINESS WIRE)-- RLI Corp. (NYSE: RLI) – RLI Corp. announced today that it will release its third quarter 2021 earnings after market close on Wednesday, October 20, 2021.

The company will hold its quarterly conference call to discuss third quarter results on Thursday, October 21, 2021 at 10 a.m. CDT. This call is being webcast by Intrado and can be accessed at https://edge.media-server.com/mmc/p/fyykgewf.

RLI also announced today an estimated range of pretax catastrophe losses of $30 million to $35 million, net of reinsurance, in the third quarter of 2021. These estimates include losses from Hurricane Ida and other catastrophes that occurred during the quarter.

RLI’s loss estimates are subject to change due to the complexity of the claims and preliminary nature of the information available to prepare the estimates. Updated loss estimates related to recent catastrophes will be reflected in RLI’s third quarter 2021 results.

Except for historical information, this news release may include forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) including, without limitation, statements reflecting our current expectations about the future performance of our company or our business segments or about future market conditions. These statements are subject to certain risk factors that could cause actual results to differ materially. Various risk factors that could affect future results are listed in the company's filings with the Securities and Exchange Commission, including the Form 10-K Annual Report for the year ended December 31, 2020.

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/20211006005663/en/

Aaron Diefenthaler

Vice President, Chief Investment Officer & Treasurer

309-693-5846

Aaron.Diefenthaler@rlicorp.com

Source: RLI Corp.

FAQ

When will RLI Corp. release its Q3 2021 earnings?

RLI Corp. will release its Q3 2021 earnings after market close on October 20, 2021.

What is the estimated range of RLI's catastrophe losses for Q3 2021?

RLI estimates pretax catastrophe losses of $30 million to $35 million in Q3 2021.

When is the conference call to discuss RLI's Q3 2021 results?

The conference call to discuss RLI's Q3 2021 results is scheduled for October 21, 2021, at 10 a.m. CDT.

What were the main reasons for RLI's estimated losses in Q3 2021?

The estimated losses are primarily due to Hurricane Ida and other catastrophes that occurred during the quarter.